Cresval Announces Extensive 2011 Exploration Program at Bridge River
24 Febbraio 2011 - 3:00PM
Marketwired
Cresval Capital Corp. ("Company") (TSX VENTURE: CRV) reports that
the 2011 exploration program, consisting of an airborne geophysical
survey over the entire Bridge River claim block followed by a 2500
metre drill program in 9 holes, with a minimum $500,000 budget has
been approved and preparations are underway to start exploration
immediately after spring break-up. The 10,270 hectare Bridge River
Project is situated in the Lillooet Mining Division, 40 km
northwest of Goldbridge, British Columbia.
The Bridge River Project has the potential for the discovery of
a bulk minable plutonic hosted porphyry copper-molybdenum-gold
deposit. The project area encompasses three copper porphyry Minfile
showings (Russnor, BR and Nichol), plus numerous other copper
occurrences including Windy Copper, all hosted by the 14 by 5 km
Bridge River Pluton. Windy Copper covers a plateau area with copper
(Cu) mineralization exposed over a 1 km by 400 metre area,
including maximum values of 5.31% Cu and 9.2 g/t Au, and a 1931
trench reported to contain 3.26% Cu over 9.1 meters and 0.44% Cu
across 24.5 metres. The widespread copper mineralization, the
occurrence of mineralized and hydrothermally altered intrusive
breccia bodies and the indication of a pyritic halo in the Canyon
area, all within the location of a known porphyry belt, are
favorable for a discovery of this type of deposit.
The Company has been in negotiations with various service
providers to complete a 1080 line kilometre airborne magnetic,
electromagnetic and radiometric survey over the project area to
commence as soon as weather and ground conditions permit.
Interpretation of the survey will assist the Company in evaluating
the entire copper rich Bridge River pluton, which is 30% covered by
a thin veneer of younger basalts, and aid in prioritizing targets.
A 9 hole, 2500 metre drill program has been proposed to test the
mineralized Russnor Breccia along strike and at depth and to
properly test the tenor of mineralization exposed at the Copper
Plateau and the BR showings. Trail access and drill pads have been
constructed on the Russnor and proposed drill pads have been
located on the BR and Copper Plateau showings.
Two previous drill programs totaling 664 metres were completed
in 1961 (Phelps Dodge) and 1969 targeting the Russnor showing area,
which covers an intrusive breccia with values of 1.38% Cu over 30.5
metres from an old adit, and 0.57% Cu over 60 metres and 1.00% Cu
over 16.2 metres from surface chip sampling. Hole 61-5 returned
0.30% Cu over 36.6 metres, including 0.51% Cu over 15.2 metres.
Despite recovery problems significant copper values were obtained
in hole 69-1, including 0.30% Cu over the entire 26.5 metre hole.
In 2010 the Russnor showing was found to occur along the eastern
edge of an open ended 1 km long by up to 600 metre wide
copper-silver-gold+/-molybdenum soil anomaly, with maximum values
of 985 ppm Cu, 81 ppb gold and 71.1 ppm molybdenum.
A total of 810 metres in four vertical holes were previously
drilled on the BR portion of the Bridge River Project by Canex
Placer in 1971, with 0.14% Cu over 17 metres reported from 1960's
trenching. The drill results were not published but sampling of the
split core from the bottom of DDH 71-1, stored on site, returned
0.13% Cu and 0.05% molybdenum over 9 metres. In 2009 a 450 by 550m
copper soil anomaly was delineated on Copper Plateau (a plateau
above the BR showing more amenable to open pit mining), with
maximum values of 4120 ppm Cu and 75 ppb Au. Limited hand trenching
yielded 0.49% Cu over 4.5 metres and 0.84% Cu over 2.8 metres,
limited by the length of the trenches, and westerly to
northwesterly trending, -50 degrees dipping drill holes were found
to be the optimal orientation to intersect mineralized
fractures.
Two drill programs totaling 411.5 metres were completed in 1979
and 1981 at the Nichol showing, which covers an open ended 600 by
400 metre zone of copper mineralization. Historic intercepts
include 6.1 metres of 2.56% Cu in hole 79-S1 and 8.5 metres of 3.5%
Cu, 34.3 g/t silver, 0.079% molybdenum in hole 79-S2. The drilling
was directed to intersect the higher grade "veins" and did not test
the porphyry potential due to incomplete sampling. Sampling of
1930's trenches has returned significant results from the exposed
wallrock of the veins, including 2.08% Cu over 4.5 metres in Trench
1. Discontinuity of the veins and disseminations of copper in the
wallrock suggest that they may in fact represent silica-sulphide
alteration that can occur in the core of a porphyry system.
"I am optimistic about the potential for discovery of a
significant copper-gold-molybdenum deposit within this highly
prospective pluton," states Lee Ann Wolfin, president and CEO of
Cresval Capital Corp. "Prospecting continues to uncover new
mineralization and the soil surveys suggest size potential".
Jean Pautler, P. Geo, a qualified person as defined by National
Instrument 43-101, has reviewed and approved the technical
information contained in this press release.
About Cresval:
Cresval is a junior copper and precious metals exploration
company actively involved in two 100% owned projects situated near
the productive Bralorne Gold camp in southwestern British
Columbia.
Information on the Bridge River Project is available on the
Company's website at www.cresval.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Lee Ann Wolfin, President
Forward looking statements: This release contains statements
that are forward-looking statements and are subject to various
risks and uncertainties concerning the specific factors disclosed
under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such
information contained herein represents management's best judgment
as of the date hereof based on information currently available. The
Company does not assume the obligation to update any
forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Cresval Capital Corp. Lee Ann Wolfin President 604 682
3701 Cresval Capital Corp. Doug Kerr 604 315 4400
www.cresval.com
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