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TORONTO, Feb. 12, 2019 /CNW/ - Central Timmins Exploration Corp. ("CTEC" or the "Company") (TSXV: CTEC) is pleased to announce the continuation of the Company's initial drill program in the Timmins Camp, which began in late-October 2018. In the short term, CTEC plans on taking advantage of the winter diamond drilling season in Timmins with a work program of 6 – 9 holes in three Townships; Deloro, Mountjoy and Jamieson, all within the city limits of Timmins.
Most of the mines in Timmins have been found by prospectors sampling outcrop. The remaining prospective areas are covered by an average of 25 meters of lake bottom clays, sand or glacial till plus infrastructure such as roads, houses, powerlines. CTEC has a modern data base of 6,000 MMI geochemical samples, and they along with extensive geophysical data have helped identify areas that are prospective for gold or copper-zinc mineralization.
When the MMI anomalies are overlain on the airborne geophysical maps of the individual townships, they highlight a range of airborne magnetic and/or EM anomalies that have never been drill tested. In total, CTEC has identified over 25 drill targets. The next 3 targets to be drilled are:
Prospect Area\ Township
An MMI anomaly on a magnetic low plus IP chargeability and resistivity anomaly. A 500m drill hole was collared on February 11th and should take less than one week to drill.
4 Corners Prospect in Jamieson Township
Anomaly based on MMI, a magnetic low, gravity high and proximity to high-grade lead zinc, silver veins.
2 miles west of the Hollinger mine; the drill target is based on MMI sampling plus a 1980 Noranda diamond drill hole that intersected 15m of quartz veining 200m to the east.
Charles Gryba, President, CEO and Director of CTEC stated "We are just starting our drill testing of gold and base metal targets in the Timmins Camp. Given that many recent discoveries have been on brownfield sites in old camps, we are excited by our prospects. Our MMI programs have identified many interesting targets and CTEC hopes to drill test at least 15 of these targets in 2019 with both winter and summer drill programs envisioned."
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian-based junior exploration company with property exclusively in the Porcupine Mining District and secondly mainly within the City Limits of Timmins in the northeastern region of Ontario. The Company's assets are prospective for gold as well as a suite of base metals. See the company website at www.centraltimmins.com.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Company's final prospectus dated October 4, 2018 filed on SEDAR at www.sedar.com for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Central Timmins Exploration Corp
For further information: Central Timmins Exploration Corp., Charles Gryba, President, CEO & Director, [email protected], Tel: 416-801-6366; Elaine Einarson, Investor Relations, [email protected], Tel: 604-614-8469