VANCOUVER, June 12 /CNW Telbec/ - Creston Moly Corp. ("Creston" or the
"Company") (TSX-V: CMS) is pleased to announce it has completed an infill
drill program on the Main Zone of its El Creston Molybdenum deposit, Sonora,
The program consisted of 52 diamond drill holes totalling 15,646 metres,
and was designed to upgrade inferred resources to the indicated category. The
infill drill program originally contemplated a 40 hole program, but was
augmented to investigate previously unidentified mineralized areas, especially
along the northern and eastern sectors of the deposit.
Work by previous operators outlined an indicated resource of
92,873,000 tonnes grading 0.083% Mo containing 169.9 millions lbs. of
molybdenum and an inferred resource of 84,221,000 tonnes grading 0.076% Mo
containing 141.1 million lbs. of molybdenum (P & E Mining Consultants Inc.,
A new resource calculation will be undertaken by Mine Development
Associates (MDA) of Reno, Nevada and it is expected to be completed by
Drilling, utilizing one diamond drill rig, has now commenced on the Red
Hill Zone located approximately 300 metres southwest of the Main Zone. The Red
Hill Zone has been interpreted as a possible faulted extension of the Main
Zone, and will be tested initially by 10 widely spaced diamond drill holes to
an average depth of 200 metres.
The drill program at El Creston is being supervised by Fabrizio Colombo,
PhD, P. Geo.
At the newly discovered Alejandra Zone, situated two kilometres northeast
of the Main Zone, a program of detailed mapping and sampling is underway in
preparation for future drill testing. Numerous molybdenum bearing outcrops
have been discovered on the northeast flank of the Alejandra Zone.
About Creston Moly Corp.
Creston Moly Corp. is a Canadian mineral exploration company focused on
the development of the El Creston Molybdenum deposit located 135 kilometres
north-east of Hermosillo, Sonora State, Mexico, near the village of Opodepe.
The El Creston Molybdenum Project contains the following mineral resources at
a 0.035% Mo Cut-off grade:
Category Tonnes Mo% Cu% Mo lbs Cu lbs
-------- ------ --- --- ------ ------
Indicated 92,873,000 0.083 0.060 169.9 122.8
Inferred 84,221,000 0.076 0.050 141.1 92.8
1. Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimates of mineral resources
may be materially affected by environmental, permitting, legal, title,
taxation, sociopolitical, marketing or other relevant issues.
2. The quantity and grade of reported inferred resources in this
estimation are conceptual in nature and there has been insufficient
exploration to define these inferred resources as an indicated or
measured mineral resource and it is uncertain if further exploration
will result in upgrading them to an indicated or measured mineral
3. The mineral resources referred to herein have been estimated in an
NI 43-101 technical report (the "P & E Report") prepared for the
Company in January 2008 by independent qualified persons Eugene
Puritch, P. Eng. and Dr. Wayne Ewert, P. Geo. of P&E Mining
Consultants Inc. The P & E Report is available at www.sedar.com.
Luca Riccio, PhD, P. Geo, a Qualified Person as defined by National
Instrument 43-101, is responsible for the technical information contained in
this News Release.
CRESTON MOLY CORP.
(Signed) "Jonathan W. George"
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
Forward Looking Statements: The above contains forward looking statements
that are subject to a number of known and unknown risks, uncertainties and
other factors that may cause actual results to differ materially from those
anticipated in our forward looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity markets, costs
and supply of materials relevant to the mining industry, change in government,
and changes to regulations affecting the mining industry. Forward-looking
statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues,
and mineral recovery processes. Although we believe the expectations reflected
in our forward looking statements are reasonable, results may vary, and we
cannot guarantee future results, levels of activity, performance, or
For further information:
For further information: Mr. Jonathan George, (604) 694-0005, (604)
684-9365 (FAX), www.crestonmoly.com; Renmark Financial Communications Inc.:
Christine Stewart, email@example.com; Eric St-Pierre,
firstname.lastname@example.org; Media - Adam Ross, email@example.com,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com