Cliffmont drills three m of 1,175.5 g/t Ag at San Luis
Mr. Jeff Tindale reports
CLIFFMONT DISCOVERS HIGH GRADE GOLD AND SILVER MINERALIZATION IN INITIAL DRILL PROGRAM IN HUILA, COLOMBIA
Cliffmont Resources Ltd. has released initial drill results from the 2012 phase one drill program at the San Luis project in Huila department, Colombia. A total 1,219.60 metres from the first five drill holes are being reported. Two high-priority targets were tested and results confirm continuity of high-grade gold mineralization at depth below two past-producing mines. This is the first time the project has been drill tested.
Significant drilling highlights
Merceditas mine
The objective of hole SLD-05 was to intersect the Merceditas vein at depth to show continuity of mineralization below the mine workings. A new mineralized zone was discovered approximately 100 metres above the mine workings which averages 1,175.5 grams per tonne (g/t) silver over three metres starting at 16 metres below surface in saprolite.
The primary vein structure which was intersected at 183.95 metres downhole (approximately 50 metres below the mine workings averages 8.23 g/t gold over 1.45 metres).
A new and parallel vein structure was intersected approximately seven metres below the primary vein structure. It averages 8.21 g/t gold over one metre. This vein structure is a new discovery. To date, it has not been tested at shallow depths although it is likely it parallels the mine workings.
San Jorge mine
The objective of the drill program is to test high-grade historic channel sampling by TVX Mineria Ltd. in 1997. The TVX channel sampling averaged 39.09 grams per tonne gold and 11.66 grams per tonne silver over a width of 1.52 metres for 71.72 metres. (See press release dated May 31, 2012.)
Hole SLD-04 intersected gold mineralization averaging 17.87 g/t gold over three metres, including 0.50 metre averaging 106 g/t gold approximately 40 metres below the level of the TVX sampling (level 1872). The intersection demonstrates the continuity of the mineralization to depth.
Hole SLD-03, a deeper test of the mineralization, intersected 11.44 g/t gold over 2.08 metres approximately 70 metres below level 1872. The results of this hole indicate a sizable area of potential mineralization that requires drill testing.
Jeff Tindale, president and chief executive officer, states: "We are delighted with these early results. The discovery of two new zones of mineralization at Merceditas, as well as the intersection of the primary vein structure 50 metres below the mine workings, is extremely encouraging and a great start in Cliffmont's evaluation of this target. The San Jorge results show the high-grade mineralization continues to depth and has identified a large area of potential mineralization that requires drill testing. This is a great beginning for Cliffmont with many drill holes still pending. We have several other targets on our property to test and this initial success will enable the company to continue to expand on these discoveries."
The company's strategy is to test for continuity of mineralization below past-producing mines. The plan includes the evaluation and blocking of mineralization to explore the possibilities of a near-term production decision while continuing to explore and evaluate numerous other larger areas of thicker mineralization.
San Jorge is in the upper part of the epithermal system at an elevation of 2,000 metres and currently is an exploitation licence. The first four holes (983.6 metres) of the company's initial drill program have been completed at San Jorge. San Jorge is a past-producing historic mining area. The company plans to continue testing the San Jorge mineralization as it has substantial lateral extent on surface with several coincidental geochemical anomalies.
At Merceditas there is potential for significant gold and silver mineralization below and adjacent to the mine workings. Merceditas is located lower in the epithermal system at an elevation of 1,700 metres. The company believes the Merceditas target has the potential to host a significant body of mineralization as determined from the recent drilling, geochemical sampling, mapping and geophysical survey work completed to date.
SIGNIFICANT DRILL INTERSECTIONSHole From To Interval Au Ag (m) (m) (m) (g/t) (g/t)SLD-01 22 23.33 1.33 3.49SLD-01 127 128.5 1.5 1.63SLD-01 135.35 137.43 2.08 11.44 3.53includes 135.8 136.3 0.5 47.3 14.4SLD-02 No significant valuesSLD-03 111 112.5 1.5 6.62 2.24includes 111.7 112.15 0.45 21.4 7SLD-04 108.5 111.5 3 17.87 26.48includes 109.7 110.2 0.5 106 74SLD-05 2.5 29.5 27 0.2 135.8includes 11.5 19 7.5 481.3and 16 19 3 1,175.5SLD-05 179.65 192.5 12.85 1.7includes 183.9 185.4 1.45 8.23and 184.65 185.4 0.75 15.3and 191 192 1 8.21and 191.5 192.5 0.5 16.15
Drill core samples were analyzed by ALS Chemex Labs Ltd., an ISO 9001:2000-certified laboratory. Cliffmont maintains a QA/QC (quality assurance/quality control) program whereby standard samples and blanks were inserted into each batch of samples to ensure quality control.
Kieran Downes, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.
We seek Safe Harbor.