Mr. Robert Casaceli reports
CRESO DRILLS 5.04 G/T AU OVER 24 METERS IN MINTO ZONE AT SHINING TREE PROJECT
Creso Exploration Inc. has provided the results of six diamond drill holes totalling 2,228 metres completed at the Minto (four holes totalling 1,333 m) and the adjoining Athena (two holes totalling 895 m) zones in the Shining Tree project in Northeastern Ontario. The highlight of this drill program is the intercept of 5.04 g/t Au over 24.4 meters in breccia, beginning from 145.9 meters in Hole MC11-11, which significantly extends the Minto Upper Zone mineralization (18.2 g/t Au over 65.7m reported in June 9, 2010 press release) to the east. Note that the intercept reported here occurs within a broader lower grade area of mineralization showing 1.01 g/t Au over 192 meters, beginning at 28 meters and open toward the east-southeast.
Other results from these six drill holes are shown in Table 1 below. The drill holes completed in this program at the Minto Zone were designed principally to test the extents of the Upper Zone as well as to test for a feeder zone between the Upper and Lower zones (Figures 1 & 2: https://media3.marketwire.com/docs/figures_1_and_2.pdf). Hole MC10-10 was specifically meant to test for the presence of the feeder structure interpreted to be present in mafic units between the Upper and Lower Zones, but it encountered only low grade mineralization.
Table 1. Drill Hole intercepts from the Minto Zone, Shining Tree Project, NE Ontario.Hole From To Length Grade Cutoff Target CommentNumber Meters Meters Meters Au gpt Au gpt----------------------------------------------------------------------------MINTO ZONE------------------MC10-09 3.4 152.0 148.6 0.17 0.1 Upper Zoneincluding 68.0 69.5 1.5 2.1 1.0 Low cutoff, 83.0 84.5 1.5 3.07 1.0 shows large low- 93.5 95.2 1.7 2.27 1.0 grade halo 98.0 99.5 1.5 2.31 1.0 around brecciaMC10-10 231.3 239.7 8.4 0.24 0.1 Feeder Designed to test zone for the feeder structure between the Upper and Lower ZonesMC11-11 28.0 220.0 192.0 1.01 0.1 Upper Zoneincluding 108.0 109.5 1.5 4.67 1.0 Designed to test 136.2 178.9 42.7 3.94 1.0 eastern extent 145.9 170.3 24.4 5.04 1.0 of breccia zone; 182.9 185.7 2.8 1.31 1.0 open to the east. 218.6 220.0 1.4 5.87 1.0MC11-12 no significant intercepts Upper Designed to test Zone the western extent of the upper breccia
Note: True width of the intercepts reported in the Minto Zone are uncertain, but considered to be approximately 65% of the intercept reported.
The data shows that a significant low grade gold halo is present adjacent to the Upper Zone, as shown in drill holes MC10-09 and MC11-11. The mineralized zones contain anomalous arsenic, bismuth, silver, molybdenum and tellurium. The overall form of the Upper Zone is believed to be an irregular pipe-like body. The dimension of the Upper Zone varies from about 40 meters to about 20 meters in diameter. However, much more drilling is needed to fully define the Upper Zone. The form is largely controlled by a combination of faults and stratigraphy. The pipe generally plunges to the south-southeast at about 79 degrees. The main controlling fault strikes N10W, with a near vertical dip. This structure is the same fault that controls mineralization at the Tyranite mine, 2.5 km to the north.
Upper Zone mineralization begins at the surface (330 meters MSL) and continues to 120 meters (MSL) elevation and has a known true vertical extent of 210 meters. This zone is cut by a NE-trending (west dipping) post-mineral mafic dike that varies from 5 to 10 meters in thickness. The intercept reported in MC11-11 cut the Upper Zone on the footwall side of the unmineralized dike.
The Upper and Lower Zones are separated by a series of mafic flows and possibly shallow mafic intrusions that are about 100 meters in thickness. These flows are mineralized, as shown by a gold intercept in MC09-02 from 368.8 meters to 369.4 meters (0.6m, with true width uncertain) that runs 78.35 g/t Au. This high grade zone, and possibly others of lower grade, likely served (at least in part) as the connection/feeder between the Lower and Upper Zones and was the target of MC10-10. The lack of significant volume of mineralized breccias found to date within the mafic units in the Transition Zone between the Upper and Lower Zones could be a result of a combination of: a) an irregular shape to the breccia pipe structure; b) a narrowing, and possibly more tabular nature, of the fractures cutting the mafic units; and c) possible post-mineral offsets on re-activated NS, NE, and EW controlling faults.
The Lower Zone has been intercepted by drill holes MC09-01 and MC10-03B. The top of the zone begins 390 meters below the surface (-60m MSL), with the deepest intercept in MC10-03B at 850 meters below the surface (-520 m MSL). The known vertical extent of the Lower Zone is therefore 460 meters, and it is open at depth. Unlike the Upper Zone, the Lower Zone is spatially associated with a mineralized intrusion of syenodioritic composition. The form and dimensions of the Lower Zone are not well understood at this time. Creso geologists conclude from this program that additional gold mineralization is likely to be found in the Upper Zone and the Transition Zone, but deeper extensions of the Lower Zone will most likely provide the greatest potential for expanded areas of mineralization.
Drilling on the Athena Option was designed to test a N-S trending magnetic linear that parallels a similar structure some 300 meters to the west-northwest at Minto, as well as eastern extensions of chargeability anomalies observed in a gradient array IP/Resistivity survey done over the Minto Pit. The Athena drill holes showed local narrow zones with low-level gold values (up to 0.15 g/t Au), although no significant gold intercepts were observed. However, noteworthy mineralization in a quartz-carbonate vein from 44.5 meters to 44.9 meters (0.4m, true width uncertain) in Hole AT10-01 returned 0.134 g/t Au, 43.1 g/t Ag, 24.5 g/t Te, and 57 g/t Bi. This mineralization is thought to be structurally linked to the Minto hydrothermal system, and the geochemical signature of anomalous silver, tellurium, and gold is consistent with the presence of sylvanite ((Ag,Au)Te4), previously reported from the Minto Pit (see Press Release dated February 9, 2011).
Creso is planning to begin drilling on the Matona and Porphyry Lake properties shortly. Geologists are presently re-logging and selectively re-sampling old core from different properties at Shining Tree, and are also tabulating and evaluating all drill and geophysical data that has been collected over the past several months. Additional exploration targets are being developed from this data review, and new drill programs are being planned in the near future for the Minto and Tyranite zones.
This Press Release has been reviewed and approved by Mr. Alex Kutah, M. Sc, P. Geo., the Qualified Person under National Instrument 43-101.