VANCOUVER, May 7, 2013 /CNW/ - Cliffmont Resources Ltd. (TSX-V - CMO) ("Cliffmont" or the "Company") is pleased to provide a progress update on the San Luis gold project in the Huila Department, Colombia. Cliffmont has maintained an aggressive field program primarily focused on the La Julia and San Jorge target areas.
The current work program includes:
- Soil sampling grid at La Julia over an area 1.5km x 400 metres (632 samples)
- Detailed structural and geological mapping at Los Azules, Merceditas and El Callao/San Jorge targets
- Environmental licensing for San Jorge production is underway
- Geochemical program south of San Jorge Mine
- Review and geological mapping of historic tunnels
The Company has maintained all of its licences, permits and property payments.
La Julia Target Highlights:
- Strike length over 1.3km of gold mineralization
- Rock Samples (grab, chip and panel) ranged from 0.1 g/t gold up to 342 g/t gold (To view sample tables and location map click http://files.newswire.ca/1115/sampletables.pdf)
As previously reported (News Release of January 17, 2013), two drill holes intersected significant shallow gold mineralization in a new area of stockwork mineralization. The mineralization is open along strike and at depth. The intersections in SLD-17 and SLD-18 indicate a previously unknown area of shallow gold-silver mineralization of significant grade:
- Hole SLD-17 intersected 5.9 g/t gold & 3.33 g/t silver over 10.5 metres, including 27.7 g/t gold & 14.7 g/t silver over 1.25 metres, and 9.9 g/t gold & 4.2 g/t silver over 1.57 metres starting at 10.5 metres down hole
- Hole SLD-18 intersected 2.11 g/t gold & 3.73 g/t silver over 15.0 metres including 9.73 g/t gold & 9.4 g/t silver over 2.0 metres starting at 11.0 metres down hole
The current exploration program comprises mapping, prospecting, sampling of old workings, and soil sampling to identify the extent and extensions of the La Julia discovery. Regionally, numerous old mine workings have been located and sampled when accessible. The Company has completed structural and geological mapping of the area and prospecting of structures is continuing. Cliffmont is also conducting a large soil sampling program of the area of mineralization (1.3km x 400m) at La Julia prospect to trace the new discovery and to identify the next targets for the coming phase of drilling.
Historical, current and check assays from the La Julia area are presented on Tables 1, 2 and 3, and Map 1. The interpreted fault pattern in the La Julia prospect is that of a braided system oriented NW/SE. The interpreted vein systems range from sub paralleling the interpreted faults to high angle tensional features. A number of important mineralized areas are apparent and more may be identified with ongoing prospecting, mapping and the Company's soil sampling program. Cliffmont plans to develop and rank diamond drill targets throughout the La Julia prospect for further testing..
"We are very pleased with the progress we are making in a multi-faceted program. We continue to expand on the discovery at La Julia while working through the environmental licensing for small production at San Jorge. As we continue to remain focused on a two tiered business plan the discovery at La Julia is a testament to the untested potential for thicker zones of mineralization at the San Luis Project," said Jeff Tindale President and CEO.
San Jorge Target Highlights:
- Secured surface rights
- Environmental licensing underway
- San Jorge mine has two exploitation contract concessions
- Historical sampling averaged 39.09 grams per tonne gold and 11.66 grams per tonne silver over a width of 1.52 metres for 71.72 metres with recent drilling confirming continuity at depth(See press release dated 2012-05-31)
At San Jorge, the Company is currently going through the environmental licensing process for a small scale (100tpd) gold production facility. There is a current environmental license which is being amended to conform to Cliffmont's criteria.
The past producing mine now has limited access and new development will take place parallel to Level 1872 where in 1997 TVX Mineria Ltd. tunnel sampling averaged 39.09 grams per tonne gold and 11.66 grams per tonne silver over a width of 1.52 metres for 71.72 metres.
The Company estimates mineralization occurring within an approximate area of 1.5km by 1km based on mapping of structural features combined with the geophysical data between San Jorge and Callao. Focus is towards the southern part of the San Jorge mine area expanding the southern extension of the San Jorge vein and checking veins and veinlets (Az 70 ° -110 °) found in the El Oso creek which appears to mark a sub-parallel structure.
The Company is also continuing work checking the continuity of the E-W mineralization targets between El Callao and San Jorge (1km) to verify the extent and relationship of these two mineralized structures at depth according to geophysical data analysis.
The San Jorge prospect has two exploitation contract concessions and is the first area for advanced development work in the extensive San Luis project area. The San Jorge results show the high-grade mineralization continues to depth and has identified a large area of potential mineralization. (See press release dated 2013-01-08)
San Jorge drilling highlights included:
- Hole SLD-19 intersected 39.24 grams per tonne gold and 15.35 grams per tonne silver over 2.40 metres 80m below Level 1872
- Hole SLD-04 intersected gold mineralization averaging 17.87 g/t gold over 3.0 metres
- Hole SLD-03, a deeper test of the mineralization, intersected 11.44 g/t gold over 2.08 metres approximately 70 metres below level 1872.
To view all maps and figures please visit the Company's website at www.cliffmontresources.com
All samples are being analyzed by ALS Chemex Labs Ltd., an ISO 9001:2000 certified laboratory. Cliffmont maintains a QAQC program whereby standard samples and blanks were inserted into each batch of samples to ensure quality control.
Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.
ON BEHALF OF THE BOARD
Jeff Tindale, President and CEO
About Cliffmont Resources:
Cliffmont Resources Ltd. (TSX-V:CMO) is a Vancouver-based company focused on the exploration of precious and base metals in Colombia's prolific San Luis mining district. The Company has a 100% option in the San Luis Project, comprising 2,701 hectares, including an exploitation concession located on the Eastern flank of the Central Cordillera of Colombia within the Department of Huila. As a first mover in one of Colombia's most prolific under-developed gold districts, the Company is well funded and is currently conducting an aggressive, but focused, exploration program. The San Luis Project consists of a mineralized area that spans over 7km x 3km hosting epithermal gold and silver targets, including multiple past producing gold mines.
Forward Looking Statements. This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
"Neither 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."
SOURCE: Cliffmont Resources Ltd.