CTT Citation Resources

Citation Resources Inc. (the "Company") (TSX VENTURE:CTT) is pleased to announce
preliminary results of its airborne versatile time-domain electromagnetic
("VTEM") survey completed in October 2012 over a substantial portion of the
Biricu Gold Project located within Mexico's Guerrero gold belt.


The VTEM survey was conducted by Geotech Ltd. and covered approximately 1,400
line kilometres at 150 metre spacing over three specific high-priority areas of
the concession within a broader survey coverage at 200 metre spacing. Condor
Consulting Inc. ("Condor"), experts in the field of airborne electromagnetics,
has been retained to perform a detailed interpretation of the results and their
final report regarding the significance of the survey is still pending.


The preliminary interpretation by Condor has identified 19 potential target
zones as defined by conductivity and magnetic geophysical anomalies on the
Biricu Project. Six of these target zones are aligned along a 5 kilometer
northeast trending corridor, which to date has only been partially ground
tested. A field crew has been mobilized to conduct further mapping and sampling
over the geophysical anomalies in order to prioritize areas for possible drill
testing. Upon receipt of the final geophysical interpretation, the results will
be integrated with the analysis of the field work completed and drill targets
will be prioritized. The details of the final results will be presented in a
future news release.


Upon finalization of specific drill targeting the Company expects to initiate
its environmental permitting process and commit to a drilling contract in
February 2013.


Qualified Persons

The exploration program is being carried out under the direction of David M.
Jones, technical consultant to the Company. Mr. Jones is credited with
discovering the Los Filos property currently being mined by Goldcorp which is 10
km from the Biricu Project. Application of his model to other properties in the
region dramatically expanded the conceptual extent of the Guerrero Gold Belt and
led to the discoveries of El Limon and Los Guajes deposits. He has published
numerous technical articles and is considered to be an expert on Guerrero Gold
Belt type deposits. Mr. Jones has worked extensively throughout the Guerrero
Gold Belt for clients including Teck, Wheaton River, Goldcorp, Penoles, Grupo
Mexico, Torex, and a number of other Canadian juniors.


The technical content of this news release has been reviewed, verified and is
the responsibility of Richard Graham, P. Geol., who is a Qualified Person as
defined in NI 43-101.


About Citation Resources

Citation Resources Inc. is a growth-oriented, Canadian mining company dedicated
to the exploration and development of precious and base metal resources.
Citation is based in Vancouver, British Columbia and aims to create shareholder
value through the acquisition, exploration, and development of profitable
mineral properties, in a manner that is consistent with best practice in
environmental stewardship, safety and stakeholder engagement. The Company has an
option agreement with Esperanza Resources Corp. to acquire a 100% interest in
the Biricu Project mineral exploration concession located in Guerrero State,
Mexico. The Biricu Project comprises more than 41,000 hectares located to the
south and along strike of five skarn gold deposits in the Guerrero Gold Belt (El
Limon-Los Guajes - Torex Gold Resources Inc.; Bermejal, Los Filos, and Nukay -
Goldcorp Inc.; Ana Paula - Newstrike Capital Inc.).


Forward-Looking Statement

Some statements in this report contain forward-looking information. These
statements include, but are not limited to, statements with respect to future
exploration, expenditures, transactions and financings. These statements address
future events and conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of to be materially different from any future results,
performance or achievements expressed or implied by the statements. Such factors
include, among others, risks related to actual results of exploration
activities, the timing and amount of expenditures and the completion of
transactions and financings.


ON BEHALF OF THE BOARD OF DIRECTORS

CITATION RESOURCES INC.

Nigel Kirkwood, CFO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Citation Resources Inc.
Nigel Kirkwood
CFO
604-682-6784
info@citationresources.com
www.citationresources.com

Citation Resources (TSXV:CTT)
過去 株価チャート
から 6 2024 まで 7 2024

Citation Resources (TSXV:CTT)
過去 株価チャート
から 7 2023 まで 7 2024