TORONTO, Feb. 7 /CNW/ - COGITORE Resources Inc. (the "Company") (WOO:
TSX-V) is pleased to announce that drilling at the Selbaie West Property in
northwestern Quebec started on January 13 with one drill rig and that a second
rig mobilized to the project today. The Selbaie West property, which is
subject to the 50% earn-in agreement with Inmet Mining, is located
8 kilometres west of BHP Billiton's past producing Selbaie mine and covers
12 kilometres of strike length. The Company plans to drill a minimum of
3,500 metres to test several geophysical and geological targets located in the
volcanic rock stratigraphic package that hosted the Selbaie mine.
According to public files of the Quebec government, over 53 Million
tonnes were mined at Selbaie (both from underground and open pit) over a
23 year mine life (1981-2004), which places this mine in the upper 5% of
volcanic massive sulphide deposits (VMS) in terms of ore tonnage. Total metal
production over that period amounted to 510,936 tonnes of copper;
1,011,227 tonnes of zinc; 992,477 ounces of gold and 69.7 million ounces of
Three holes have been completed at Selbaie West to date. The first hole
of the program, SW-01, intersected a 2 metre-thick horizon of massive pyrite
hosted by altered felsic fragmental rocks, which are correlated with those
hosting the past producing Selbaie mine. Although no significant base metals
are present in the newly discovered sulphide horizon, hole SW-01 is considered
very encouraging since it has shown that a massive sulphide system is present
at Selbaie West, and that the property also encloses altered rock units
similar to those hosting the Selbaie mine. Follow-up work will be planned
after completion of borehole geophysics.
Work is carried out by the personnel of Cogitore Resources Inc., 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.
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, and in the Central Belt of Newfoundland.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Gérald Riverin, President & CEO, Telephone:
(819) 764-6666, or Louis Morin, Director Investor Relations, Telephone: (514)