/NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES/
TORONTO, Oct. 1 /CNW/ - CITADEL GOLD MINES INC. (CGM.H: NEX Exchange).
Citadel Gold Mines Inc. (the "Company") announces that it has acquired
472 line-kilometres of airborne time-domain electromagnetic and magnetic data
from an AeroTEM survey on the Massey property located near Elliot Lake,
Ontario, about 100 km west of Sudbury.
The property, which is owned by Trelawney Resources Inc. (TRR-TSXV) and
optioned to the Company, consists of about 2,000 acres covering three former
copper-producing mines: the Massey mine, the Hermina number 1 mine, and the
Hermina number 3 mine.
The survey outlined what appears to be a large gabbro unit striking
east-west as a prominent magnetic feature. The electromagnetic data was less
useful, as the AeroTEM system was strongly affected by power line noise. A
major power line runs sub-parallel to the area of interest.
The Company contracted Balch Exploration Consulting Inc. to review the
AeroTEM data, to comment on the AeroTEM response near the power lines, and to
integrate the airborne data with the geological model.
The Company has been advised that there is no indication of any large
shallow or deep conductive body based on the airborne survey results. Close to
the power line, results are inconclusive, as interference extends for a
distance of approximately 300 metres from the power lines. Flight lines over
known mineralization did not display significant anomalies, nor do they
suggest that the known occurrences have lateral extensions.
This news release was reviewed and approved for technical disclosure by
Roy Rupert, P.Eng., Consulting Geologist, of Roy J. Rupert & Associates, an
independent qualified person under NI 43-101.
The NEX Exchange has neither approved nor disapproved of the information
contained herein. The statements used in this press release may contain
forward-looking statements, and are based on the opinions and estimates of
management, or on opinions and estimates provided to, and accepted by,
management. These opinions and estimates include those that relate to
geological and mining factors, commodity prices, and marketing parameters used
by management, and speak only as of the date of this press release.
Forward-looking statements are subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to differ,
possibly significantly. Although the Company believes that its expectations
reflected in these forward-looking statements are reasonable, such statements
involve risks and uncertainties and no assurance can be given that actual
events or results will be consistent with these forward-looking statements.
Except as required by law, the Company does not undertake, and specifically
disclaims, any obligation to update or revise any forward-looking information,
whether as a result of new information, future developments or otherwise.
Readers are therefore cautioned not to place undue reliance on any
For further information:
For further information: John Sadowski, President, Citadel Gold Mines
Inc., Telephone: (416) 675-8379, Facsimile: (416) 675-8477