
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
Cogitore Acquires a Major Property Position on the Normetal Belt
TORONTO, February 16/CNW/ - COGITORE Resources Inc. (the "Company") (WOO: TSX-V) is pleased to announce the acquisition of a 100% interest in a major property position west of, and on strike with the past producing Normetal Mine. There are no third party interests. The Company’s new ‘West Normetal’ property is located in Ontario and covers about 22 kilometers of the same favourable rhyolite volcanic rocks that host the Normetal Mine 12 km to the east.
Previous drilling in the 1960’s on a portion of the newly acquired property yielded anomalous zinc and copper values located near a 3 kilometre long zone of favourably altered rhyolitic rocks. The project is easily accessible through a network of public and logging roads.
The Normetal Mine, located relatively close to the provincial boundary but in Quebec, produced 10 Million tonnes grading 2.2% Cu, 5.4% Zn, 0.53 g/t Au and 44.5 g/t Ag over a 37 year mine life from 1938 to 1975 (Quebec government files). The deposit was found by surface prospecting and mined from surface to a depth of 2.4 kilometres. At current metal prices the sale revenues of Normetal would be over $2.0 Billion, net of smelting and refining but before factoring in costs to develop, mine and mill the deposit.
“Extensive near-surface exploration has been carried out in the Normetal area, especially on the Quebec side of the belt” says Cogitore President Gérald Riverin. “From this work, and doctoral work done by Cogitore’s senior geologist Dr. Benoit Lafrance, we know the favourable rocks have been subject to relatively intense regional scale hydrothermal alteration of a type known to be associated with VMS deposits. However, the surface footprint of the Normetal deposit is extremely small, in the order of 200-300 metres in diameter, making it a difficult target in the absence of proper technologies and expertise. A similar volcanogenic massive sulphide (VMS) deposit located a few hundred metres below surface requires thorough evaluation by all state-of-the-art exploration technologies, many of which were not available at the time of the last exploration work on the West Normetal property.”
In spite of the fact that VMS deposits typically occur as clusters of deposits, such as in the Noranda, Val d’Or and Matagami camps, no other deposit has yet been found in the Normetal belt of rocks. The Company’s management believes that many features of the Normetal belt are consistent with the earmarks of a prolific VMS camp which could host several deposits. Such features include the nature and chemical signature of the felsic volcanics hosting the former mine, the value of the old Normetal deposit itself, and finally the scale of the alteration system and its ranking according to Cogitore’s proprietary technique.
This property acquisition is consistent with the Company’s strategy of assembling large property positions in established mineralized belts that benefit from easy access. The Company plans to begin field work on the West Normetal project May, 2007.
Work is carried out by the personnel of Cogitore Resources Inc., under the supervision of Benoit Lafrance, PhD, P.Geo., and Gérald Riverin, PhD, P.Geo. They are qualified persons (as defined by National Instrument 43-101) and combined have more than 30 years of experience in VMS exploration.
On Behalf of the Board of Directors:
Gérald Riverin, President & CEO
Telephone: 819-764-6666
www.cogitore.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SEDAR: 00020132E. CNW 16-FEB-07 ©2007 Cogitore Resources Inc.