Critical Elements : Blue Note Completes Croinor 2011 Drill Program and Provides Update on Technical Report
03 Novembre 2011 - 1:31PM
Marketwired
Critical Elements Corporation (TSX VENTURE:CRE) (OTCQX:CRECF)
(FRANKFURT:F12) ("Critical Elements") and Blue Note Mining Inc.
(TSX VENTURE:BNT) ("Blue Note") announce results from the last six
holes of a recently completed 3,000 meter diamond drill program at
the Croinor project, located near Val d'Or, Quebec.
The eleven hole drill program was designed to extend the limits
of the mineralized lenses in the area of the current ore reserves
in order to provide additional definition required for mine
planning. Significant mineralization was found in every hole with
grades ranging from 1.10 g/t Au up to 50.76 g/t Au (see news
release dated October 20, 2011).
The best results from the last six holes were returned from
CR-11-416 that intersected a true width of 5.19 meters grading 5.28
g/t Au from 210.4 to 215.7 meters and included 9.28 g/t Au over
2.16 meters. Significant mineralized zones from holes CR-11-414 to
CR-11-419 are as follows:
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From To Length True Width
Hole no. Section Dip (meters) (meters) (meters) (meters) Au (g/t)
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CR-11-414 310-W -56 240.0 241.6 1.60 1.08 4.41
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CR-11-415 270-W -72 207.3 207.8 0.50 0.47 10.68
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CR-11-415 211.5 212.1 0.60 0.58 3.41
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CR-11-415 213.3 214.9 1.60 1.54 2.80
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Includes 214.4 214.9 0.50 0.48 6.19
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CR-11-415 216.5 217.0 0.50 0.48 1.10
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CR-11-415 220.0 220.5 0.50 0.48 2.61
---------------------------------------------------------------------------
CR-11-416 290-W -67 210.4 215.7 5.30 5.19 5.28
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Includes 213.5 215.7 2.20 2.16 9.28
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Includes 215.2 215.7 0.50 0.49 20.41
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CR-11-417 260-W -59 231.3 232.3 1.00 1.00 4.09
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CR-11-417 249.7 250.2 0.50 0.50 1.48
---------------------------------------------------------------------------
CR-11-417 255.0 260.0 5.00 5.00 2.19
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Includes 259.0 260.0 1.00 1.00 6.39
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CR-11-417 283.1 283.6 0.50 0.50 7.30
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CR-11-417 287.1 287.7 0.60 0.60 1.12
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CR-11-418 290-W -56 137.3 138.0 0.70 0.70 3.85
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CR-11-418 162.0 163.9 1.90 1.90 4.28
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CR-11-419 240-W -55 102.0 102.5 0.50 0.50 1.92
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CR-11-419 105.0 105.8 0.80 0.80 4.08
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CR-11-419 129.6 130.1 0.50 0.50 4.46
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CR-11-419 134.4 135.0 0.60 0.60 1.75
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CR-11-419 180.3 181.7 1.40 1.40 4.27
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Includes 181.2 181.7 0.50 0.50 9.06
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As with previous drilling proximal to the current ore reserves,
the results from this recently completed drill program continue to
demonstrate continuity of the mineralized lenses and the potential
to further increase reserves in the immediate area of the current
ore reserves at Croinor.
Update on Technical Report and Project Financing
The update of the NI43-101 prefeasibility study integrating the
2010 and 2011 drilling results is well underway and is expected to
be completed in the coming weeks. During the course of the last few
months, Blue Note has aggressively been pursuing project financing
opportunities and completion of the updated prefeasibility study
will enable Blue Note to further advance discussions with potential
project financing partners that have been identified.
The drill program was carried out by Forages La Virole and was
supervised by InnovExplo personnel under Carl Pelletier P.Geo., a
qualified and independent person as defined under NI 43-101
guidelines. Gold values were determined by fire assay and AAS, or
fire assay and gravimetric analyses if over 3 g/t, at the
Techni-Lab S.G.B. Abitibi Inc. laboratory in Ste-Germaine-Boule,
Quebec.
Arthur Hamilton, P.Geo., Exploration Manager for Blue Note
Mining Inc. is a Qualified Person as defined under NI 43-101
guidelines and has reviewed the technical information contained in
this release.
About Critical Elements Corporation
Critical Elements is actively developing its 100%-owned Rose
lithium-tantalum flagship project located in Quebec. The project
hosts a current new NI 43-101 compliant Indicated resource of 26.5
million tonnes of 1.30% Li2O Eq. or 0.98% Li2O and 163 ppm Ta2O5
and Inferred resource of 10.7 million tonnes of 1.14% Li2O Eq. or
0.86% Li2O and 145 ppm Ta2O5.
Critical Elements has commissioned a prefeasibility study for
the project from Genivar, one of the largest independent
engineering firms in Canada. Genivar is also doing an environmental
study, and Acme Metallurgical Ltd. of Vancouver is carrying out
project metallurgy.
Critical Elements' portfolio also includes rare-earth and
tantalum-niobium projects in the Rocky Mountains of British
Columbia and in Quebec, as well as a 50% interest in the Croinor
project, which is located in Quebec and hosts a current NI 43-101
compliant measured and indicated resource of 814,228 tonnes at 9.11
g/t Au, for 238,414 ounces of gold at a 5 g/t cut-off.
About Blue Note Mining
Blue Note Mining is a mineral exploration and mining company
headquartered in Montreal with properties located in known gold
regions of Canada, including the prolific Val-d'Or region of Quebec
and northern New Brunswick.
Forward-Looking Statements
This news release contains discussion of items that may
constitute forward-looking statements within the meaning of
securities laws that involve risks and uncertainties. Although the
Company believes the expectations reflected in such forward-looking
statements are based on reasonable assumptions, it can give no
assurances that its expectations will be achieved. Factors that
could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by
government authorities, uncertainties associated with contract
negotiations, additional financing requirements, market acceptance
of the Company's products and competitive pressures. These factors
and others are more fully discussed in Company filings with
Canadian securities regulatory authorities.
Neither the 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: Critical Elements Corporation Jean-Sebastien Lavallee,
P. Geo, President & CEO
819-354-5146president@cecorp.cawww.cecorp.ca Paradox Public
Relations Jean-Francois Meilleur 514-341-0408 Blue Note
shareholders, Jean Mayer Executive Vice President (800) 937-3095 x
236jmayer@bluenotemining.cawww.bluenotemining.ca
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