NEWS 280 Meters of 1.15 g/t Goldct 29, 2010 09:40 ET
Creso Exploration Reports 280Meters of 1.15 g/t Gold From Preliminary Minto Hole 3 Drill Results inthe Shining Tree Area, NE Ontario
MONTREAL, QUEBEC--(Marketwire - Oct. 29, 2010) - CresoExploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)(FRANKFURT:C3X) is pleased to announce recent preliminary diamond drillresults from the Minto Project, as part of its expanded explorationprogram in the Shining Tree area of NE Ontario, where three diamonddrill rigs are currently operating. In addition, a new 5,000 meterdrill contract has been awarded to Major Drilling Group InternationalInc.
Hole#3 clearly demonstrates that the mineralization previously reportedfrom Holes #1 and #2 (see Press Releases of August 9, 2010 and October5, 2010) is representative of a very strong gold hydrothermal systemwith a fairly broad halo of mineralization and over 800 meters ofvertical expression. High grade gold, with values above 10 g/t, wasencountered in four zones within the 280 meters of nearly continuousmineralization and alteration, with visible gold present in threezones. The highest single gold value encountered in this hole is 38.8g/t over 1.37 meters beginning at 756.36 meters depth. Hole #3 wasdrilled in a SSE direction with an average dip of -79° and appears tohave crossed approximately 25 meters beneath and at an angle of about25° to the axis of the high grade zone of Hole MC-10-1 (Hole #1) thatran 13.3 g/t Au over 82.5 meters. The intervals indicated above do notnecessarily represent true widths, as the true dimensions andorientations of the mineralized zones containing the values reportedare not known.
Whole rock geochemistry from Hole #3indicates a clear depletion of Na and a re-mobilization of K inlocalized zones of secondary potassic alteration. Telurium values areelevated in zones of high gold values, all of which indicates that Hole#3 has passed near the border of a very large alkalic gold system,although the dimensions and geometry of that gold system are still notfully understood. All gold analyses were run at Agat Laboratories usingboth metallic sieve and fire assay with atomic absorption finishtechniques. The reported values were the metallic sieve results only,although the overall averages of both techniques over the full 280meters were nearly identical.
Drilling continues at theMinto zone, with Hole MC-10-04 (Hole #4) headed in a SSW direction nowdown to a depth of 875 meters, and targeted to pass underneath themineralized zones reported in Holes MC-09-01, MC-09-02, andMC-10-03b. It is also drilling toward a coincident chargeability highand resistivity low determined from gradient array surface and boreholeIP data that occurs at an intersection of N10W and EW linear featureslocated approximately 160m SSW of the Minto Pit. Drilling at the Dugganproperty is ongoing, with Hole DUG-10-15 heading due west across a N-Sstructure at a depth of 160 meters.
Drilling at the newGold Corona JV with Platinex in Churchill Township (see Joint PressRelease of October 22, 2010) has completed the first hole, CP-10-01, to398.3 meters as part of a first-phase program of 1000 meters.
ThisPress Release has been reviewed and approved by Mr. Michael White, M.Sc, P. Geo., the Qualified Person under National Instrument 43-101.