Oct 05, 2010 13:21 ET
Creso Exploration Updates Drilling Activity in the Shining Tree Area, NE Ontario
MONTREAL, QUEBEC--(Marketwire - Oct. 5, 2010) - CresoExploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)(FRANKFURT:C3X) is pleased to announce the following exploration updatesat 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 1020meters on the Minto Project and that an intersection representing 280meters (from 536.9m to 816.9m) has been sent to the lab as of today,with instructions to expedite analytical results. The rocks in thisinterval are similar to the gold-bearing altered breccias in Minto Holes#1 and #2 (see Creso Press Release of August 9, 2010). Alterationconsists variably of pink to red secondary potash and locally gray togreen chlorite-carbonate, with pyrite content variable from 0.5% to10.0%, averaging approximately 1% to 2%. Hole #3 is collared 44m WSWfrom Hole #1 and 44m WNW from Hole #2. Hole #3 is drilled toward the SE(153º azimuth) and is designed to cross and pass approximately 30mbeneath 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 #3to further test the extent of the mineralization encountered todate. The company is still waiting for further results from Holes #1 and#2.
Duggan Project:
A second drill has been commissioned on the Dugan property,100% owned by Creso Exploration. The program is intended to drill some500m in four holes to a maximum depth of 200m to test, and possiblyextend, the known Duggan gold mineralization within a NNW structurecutting syenodiorite (please refer to the 43-101 technical reportavailable on www.sedar.ca).
This Press Release has been reviewed and approved by Mr.Michael White, M. Sc, P. Geo., the Qualified Person under NationalInstrument 43-101.
About Creso
The Corporation's principal mining exploration holdings arelocated in the Shining Tree mining camp of Northern Ontario within 100km of the Timmins and Kirkland mining camps, and additional interestsare held in base metal properties in Guatemala.
This release contains forward-looking statements that arebased on beliefs of its management as well as assumptions made by andinformation currently available to management of the Company. When usedin this release, the words "estimate", "believe", "anticipate","intend", "expect", "plan", "may", "should", "will", and the negativethereof or other variations thereon or comparable terminology areintended to identify forward-looking statements. Such statements reflectthe current views of the Company with respect to future events based oncurrently available information and are subject to risks anduncertainties that could cause actual results to differ materially fromthose contemplated in this release. Accordingly, readers should notplace undue reliance on forward-looking information. The forward-lookinginformation in this press release is made as of the date of this pressrelease, and Creso disclaims any intention or obligation to update orrevise such information, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.