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May 10, 2011
 

COGITORE REPORTS BEST EVER DRILL HOLES INTO CENTRAL LENS AT THE SCOTT LAKE PROJECT

COGITORE Resources Inc.. (the "Company") (TSX VENTURE:WOO) is pleased to report that infill drill holes on the Central Lens intersected the highest grades and thickest massive sulphide intervals ever for this lens. Vertical depths range from 200 metres to 250 metres.

Highlights:

  • 3.0% copper, 12.3% zinc, 0.3g/t gold and 74g/t silver over 5.0 metres;
  • 1.0% copper, 6.8% zinc, 0.1g/t gold and 38g/t silver over 15.5 metres

The locations of the piercing points of the holes are shown on Figure 1(click here). The new holes were drilled on vertical sections 50 metres apart and details are shown by section going from west to east in the table below:

Section 1500W: hole SC-64

From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
319.3 324.6 5.3 0.9 3.1 0.2 26 Upper (north) zone
324.6 333.4 8.8 gabbro dyke (barren)
333.4 338.4 5.0 3.0 12.3 0.3 74 Lower (south) zone

Section 1450W: hole SC-66

From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
278.8 288.4 9.6 1.3 4.0 0.2 42 Upper (north) zone
288.4 300.9 12.5 gabbro dyke (barren)
300.9 316.4 15.5 1.0 6.8 0.1 38 Lower (south) zone

Section 1400W: hole SC-60 (previously released, March 2, 2011)

From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
257.1 272.4 15.5 0.9 5.5 0.1 52 Upper (north) zone
272.4 302.6 30.2 gabbro dyke (barren)
302.6 317.1 14.4 0.6 5.5 0.1 24 Lower (south) zone

Section 1350W: hole SC-67

From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
291.9 297.7 5.8 0.8 6.0 0.1 34 Upper (north) zone
297.7 342.0 44.3 gabbro dyke (barren)
342.0 345.5 3.5 0.7 7.5 1.0 34 Lower (south) zone

All of the above assay intervals are weighted averages of several individual assays. The true thickness is estimated to be between 60% and 70% of the core lengths. The current interpretation suggests two sub-parallel east-west trending massive sulphide bands, namely an Upper (north) zone and a Lower (south) zone, dipping about 80-85° to the north and separated by a mafic intrusive (dyke) sub-parallel to the sulphide units. The infill drilling on 50 metre centres was done to enable mineralization in Central Lens to be included in the forthcoming NI43-101 resource update (due mid-June).

Central Lens massive sulphide mineralization is best developed between sections 1500W and 1300W. Central Lens mineralization is associated the Selco Rhyolite, but in detail massive sulphides are primarily hosted between mafic dykes or sills, which dilate or separate the massive sulphides into two prominent zones per section. The reported assay results include small internal sections of mafic dyke at zero grades.

Central Lens is one of six massive sulphide lenses discovered to-date over a two kilometre long plunge length. From east to west the lenses are:

  1. Selco-Scott Lens (Scott Rhyolite), lens sub-crops, historic resource estimated to 400 metres depth
  2. "800" Lens (Scott Rhyolite), vertical depth to top of lens is 550 metres
  3. Central Lens (Scott Rhyolite), vertical depth to top of lens averages 220 metres
  4. "34" Zinc Lens (Scott Rhyolite), vertical depth to top of lens is 380 metres
  5. West Lens (Scott Rhyolite), vertical depth to top of lens is 400 metres
  6. CFO Lens (Tony Rhyolite), vertical depth to top of lens is 900 metres

The Scott project's first NI43-101 compliant resource, 3.6M tonnes, 1.1% copper, 5.2% zinc, 0.3g/t gold and 36g/t silver (released November, 2009) includes only mineralization from three lenses, i.e. West, '34' Zinc and '800'. The updated resource estimate due mid-June will add mineralization from the CFO and Central lenses for the first time as well as add to the existing resource associated with West Lens.

The Selco-Scott Lens sub-crops and was the first copper, zinc–rich sulphide mineralization found in Scott Township. A non-compliant resource of 0.7M tonnes of 0.4% copper, 6.9% zinc to a depth of 400 metres is attributed to this lens, but will not form part of the updated NI43-101 resource estimates scheduled for release in Q2.

Work is carried out by the Company's personnel, under the supervision of Gérald Riverin, PhD, P.Geo. He is a qualified person (as defined by National Instrument 43-101) and has more than 30 years of experience in VMS exploration.

All drill core discussed in this press release was logged and marked up for assay at the Company's secure facility in Chibougamau, Quebec. Drill core for assay was split in half. Half of the core was shipped in sample bags to either ALS Chemex of Val d'Or or Laboratoire Expert Inc. of Rouyn-Noranda with appropriate standards, duplicates and replicates used for quality control purposes. The other half of the core is retained for future reference.

The Company has developed a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it will focus its work in the Abitibi Belt of Quebec and Ontario.

http://www.cogitore.com/

For more information please contact:

Gérald Riverin
President & CEO
Telephone: 819-764-6666 or

Mark Goodman
Executive Chairman
Telephone: 416-924-9893, ext. 2210

 

Forward Looking Statements

 

Certain statements contained in this news release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to our future outlook and anticipated events or results. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue”, “does not expect”, “budget”, “scheduled”, “forecast” or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions regarding expected developments. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

Forward looking-information involves known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements of the Company to differ materially from the future results, performance or achievements expressed or implied by such forward looking information. Such risks, uncertainties and other important factors include, without limitation: general economic conditions; access to skilled consultants; the possibility that future exploration results will not be consistent with the Company’s expectations; uncertainties involved in interpreting drilling results; unanticipated costs and expenses; timing and availability of external financing on acceptable terms; dependence on key personnel; future prices of precious and base metals; failure of equipment or processes to operate as anticipated; and risks inherent in mining exploration and development including, but not limited to, unusual or unexpected geological formations. Such factors are also described or referred to under the headings “Property and Financial Risk Factors Affecting Financial Instruments” and “Other Risk and Uncertainties” of the Company’s Management’s Discussion and Analysis for the quarter ending March 31, 2010, all of which are incorporated by reference herein and are available at SEDAR at www.sedar.com. We caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company’s forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events except where required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.