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HIGH GRADE HIT AT DEPTH
ON CARIBOU PROJECT OPENS UP VOLUME POTENTIAL – includes
6.4% copper, 4.9% zinc, 4.1 g/t gold and 114 g/t silver over
1.6 metres
TORONTO, February 26 - COGITORE Resources
Inc. (the "Company") (WOO: TSX-V) is pleased to report
the discovery of additional copper and zinc-rich volcanogenic
sulphides (VMS) on its Caribou Project, which is under
option from IAMGOLD Corporation*. New mineralized intercepts
are tabled below:
ASSAY RESULTS – DDH CAR-04
| From (m) |
To (m) |
Length (m) |
Cu (%) |
Zn (%) |
Au g/t |
Ag g/t |
Remarks |
| 541.0 |
541.6 |
0.6 |
14.70 |
3.63 |
9.43 |
242.0 |
massive sulphides |
| 541.6 |
542.2 |
0.6 |
0.28 |
6.35 |
1.44 |
34.2 |
semi-massive sulphides |
| 542.2 |
552.6 |
0.4 |
4.13 |
4.49 |
0.78 |
58.3 |
semi-massive sulphides |
| 541.0 |
542.6 |
1.6 |
6.41 |
4.89 |
4.10 |
114.3 |
weighted average |
ASSAY RESULTS – DDH CB-05-32E
| From (m) |
To (m) |
Length (m) |
Cu (%) |
Zn (%) |
Au g/t |
Ag g/t |
Remarks |
| 557.9 |
558.5 |
0.6 |
0.02 |
4.80 |
0.04 |
19.7 |
bedded tuff+sulphides |
| 558.5 |
561.3 |
2.8 |
0.01 |
0.27 |
0.03 |
8.7 |
bedded tuff+sulphides |
Core angles and bedding in hole CAR-04 are
at 55-60 degrees indicating true width is approximately
83% of the core length. Core angles in CB05 -32 are at
65 degrees, indicating true width is nearly 90% of the
core length.
The Caribou Property is located 95 kilometres southwest
of Matagami, PQ. The latest intercepts (analogous to "key
tuffite" bedded sulphide mineralization in the Matagami
Camp) occur 3.7 kilometres west of the Company's past producing
zinc-rich Estrades VMS mine. The intercept in drill hole
CAR-04 is located 290 metres down and to the east of a
similar intercept in CAR-02 (see Press Release of February
5, 2009) while the CB05-32 bedded-tuff intercept occurs
205 metres down and to the west of CAR-02 ( Figure
1 ). The three holes roughly outline an area
400 metres by 300 metres( Figure
1 ).
Cogitore's first 2009 drill hole at Caribou,
CAR-02, intersected 1.3 % Cu, 4.7 % Zn, 0.92 g/t Au and
30.9 g/t Ag over 4.1 metres including 2.5 % Cu, 7.0 % Zn,
1.5 g/t Au and 62.8 g/t Ag over 1.7 metres. The high copper
grades in holes CAR-02 and 04 are significant in that they
are the first along the Estrades mine horizon to indicate
proximity to an ancient area of higher 'volcanic heat flow',
where higher grade VMS deposits tend to form. The Company
focused on the Estrades mine area hoping to discover a
cluster of VMS deposits that would constitute a new gold/base
metal VMS camp similar to Matagami, Noranda and Bousquet.
"This is a very significant breakthrough" says Gerald Riverin, Cogitore's President & CEO; "as
all the Company's work around the Estrades Mine over the last four years has
been predicated on making copper-rich discoveries over zinc. The high gold and
silver content is particularly gratifying as well. Zinc-rich mineralization denotes
VMS mineralization distal to (or further away from) a high copper "hot spot".
The design of Hole CAR-04 was based in part on a down-the-hole geophysical survey
in drill hole CAR-02 and ended up 290 metres from hole CAR-02, which is a huge
step-out for a massive sulphide lens."
Cambior drill hole CB05-32, originally drilled four years
ago to test a gold target, was deepened while awaiting
down-the-hole geophysical results from hole CAR-04. Company
staff believed that CB05-32 was stopped short of reaching
the Estrades Mine horizon at the western edge of the original
InfiniTEM anomaly that led to the massive sulphide discovery
in hole CAR-02 ( Figure
1 ) ."We hoped to intersect the favourable
volcanic stratigraphy at low cost to determine its attitude
(strike and dip)" added Riverin. "The fact that we found
distal-type zinc-rich mineralization in CB05-32 is an unexpected
bonus and confirms our approach. The most significant aspect
about the three 2009 Caribou intercepts to this point is
that they open the door to an unrecognized and underappreciated
region of base and precious metal mineralization. This
is an essential step in the Company's quest to discover
an economic ore deposit".
Work is carried out by the personnel of Cogitore Resources
Inc., under the supervision of Gerald Riverin, PhD, P.Geo.
He is a qualified person (as defined by National Instrument
43-101) and has more than 32 years of experience in mineral
exploration.
The drill core from holes CAR-04 and the deepening of hole
CB05-32 was logged and marked up for assay at the Company's
secure facility in Normetal, PQ. Drill core for assay was
split in half. Half of the core was shipped in sample bags
to the ALS Chemex laboratory in Val d'Or, PQ for specific
gravity measurement and sample preparation. Pulps were
flown to Vancouver, B.C. for analysis with appropriate
standards, duplicates and replicates used for quality control
purposes. The other half of the core is retained for future
reference.
Upcoming Events
Management of Cogitore Resources will be present at the
2009 PDAC in Toronto, Ontario. We look forward to meeting
you at these events:
March 1 - 2, 2009 – Core Shack - Level 700 Booth
# 5008A March 1 - 4, 2009 - Investors Exchange
- Level 800 Booth # 3013
Cogitore explores for VMS-type deposits in
areas where such deposits have been found and mined before.
Exploring in such areas is preferred because of existing
infrastructure, knowledgeable local workforces and broad
public support for mining. Collectively, these are major
competitive advantages for logistics and economics.
* Cogitore has a right to earn a 70% interest
in the property from IAMGOLD. Cogitore's interest in the
portion of the Caribou Option where it is currently drilling
is also subject to a 50% participating interest by Inmet
Mining Corporation. Inmet's participating interest will
decline throughout 2009 as Inmet has declined to participate
in the current program.
For more information please contact:
Gérald Riverin, President & CEO
Telephone: 819-764-6666
Louis Morin, Director, Investor Relations
Telephone: 514-591-3988
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or
accuracy of this release. |
