The latest drill results from drill hole #3 concludes that the Gold being found to date is at depth. At these depths 1.5 grams / ton will not cut it.
The two previous holes intersected much higher grams / ton. Drill hole #3 cut 30 metres below hole #1 which intersected 82.5m of 13.33 g/t Au. We now know hole #3 had an intersection representing 280 meters (from 536.9m to 816.9m). If this hole was close to surface for open pit Gold excavation the shares would have taken off.
Creso Exploration Intersects 82.5 meters of 13.3 g/t Au in Hole #1
at the Minto Project
Montreal, Quebec, August 9, 2010 - Creso Exploration Inc. (“Creso” or the “Corporation”) (TSX-V: CXT)
(Frankfurt: C3X) is pleased to announce partial results from the deepened portion of drill hole, MC-09-01
(Hole #1), at the Minto Gold Project in northeast Ontario. These new results are from within an over-90
meter interval of breccia that was reported in the July 21, 2010 Press Release as containing a zone of
visible gold over 40 meters. Highlights from the most recent Minto area drill results, as received to date,
include:
NEW MINTO HIGH GRADE INTERCEPTS:
MC-09-01 (Hole #1):
- 82.5m of 13.3 g/t Au from 508.5m to 591.4m (uncut), including: 8.3m of 35.2 g/t Au from
544.3m to 552.6m (uncut)).
- 82.5m of 11.0 g/t Au (cut at 31.1 g/t Au) from 508.5m to 591.4m (0.4m lost recovery at 516m).
The new results are particularly encouraging in that they present a deeper confirmation of significant gold
mineralization by approximately 500m vertical distance, than previously intersected in the nearby MC-09-
2 (Hole #2): 65.7m of 18.2 g/t Au from 49.3m to 115m (7.9 g/t Au cut at 31.1 g/t Au); 79.6m of 4.61 g/t
Au from 132.4m to 212.0m (3.35 g/t Au cut at 31.1 g/t Au; and 5.0m of 8.24 g/t Au from 423.0m to
429.0m (June 9 & July 21, 2010 Press Releases). Hole #1 (initial 172º azimuth, -77º dip) is collared
about 45m west of the historic Minto gold occurrence, and Hole #2 (initial 155º azimuth, -76º dip) is
collared about 35m SW of Hole #1. Hole #1 is now ended at 919m depth and Hole #2 is ended at 672m
depth. The holes cross one another and are approximately 52m apart in plan view.
Creso geologists conclude that the gold mineralization encountered in holes #1 and #2 appears to have a
general northerly trend and dips steeply to either the east or west. However, there continues to be an
apparent irregularity in the shapes and dimensions of the areas of gold mineralization and true widths of
these zones still cannot be determined. Analyses are pending from approximately 300m of core from
Hole #2, and 150m of core from above, and some 300m below, the zone reported here from Hole #1.
Gold mineralization found in Hole #1 remains open to the south and at depth. At 588.36m Hole #1
appears to have crossed into what has been tentatively given a field designation as a syenodiorite
intrusive body. The intrusive displays intermittent brecciation and pervasive potassic alteration. The high
grade gold mineralization encountered within the 58m interval of visible gold in breccia noted abovebeginning at 530m depth in Hole #1, and present in five discernable zones, is associated with quartz
veining, sulphides up to 4% by volume, and pervasive potash alteration, indicative of an alkalic gold
system.
MONTREAL, QUEBEC, Oct 5, 2010 (Marketwire via COMTEX News Network) --
Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT) (FRANKFURT:C3X) is pleased to announce the following exploration updates at its Shining Tree Project.
Minto Project:
Creso is pleased to announce that a third diamond drill hole, MC-10-03b (Hole #3) has been completed to date to a depth of 1020 meters on the Minto Project and that an intersection representing 280 meters (from 536.9m to 816.9m) has been sent to the lab as of today, with instructions to expedite analytical results. The rocks in this interval are similar to the gold-bearing altered breccias in Minto Holes #1 and #2 (see Creso Press Release of August 9, 2010). Alteration consists variably of pink to red secondary potash and locally gray to green chlorite-carbonate, with pyrite content variable from 0.5% to 10.0%, averaging approximately 1% to 2%. Hole #3 is collared 44m WSW from Hole #1 and 44m WNW from Hole #2. Hole #3 is drilled toward the SE (153 degrees azimuth) and is designed to cross and pass approximately 30m beneath Hole #1, which previously intersected 82.5m of 13.33 g/t Au ( see Creso Press Release as above). Wedging is being planned from Hole #3 to further test the extent of the mineralization encountered to date. The company is still waiting for further results from Holes #1 and #2.
It is still very early in the game but they will have to duplicate announced grams/ton in Holes 1 & 2 in future holes for the price to move north.
Cheers,
BB