VANCOUVER, May 31, 2012 /CNW/ - Cliffmont Resources Ltd. (TSX-V - CMO) ("Cliffmont" or the "Company") is pleased to announce that drilling has commenced at its San Luis Project in Huila, Colombia.
The initial 5,000 metre drill program will target known epithermal mineralized zones, several of which have been exploited by artisanal miners who stopped development at the water table or had mechanised issues. This will be the first drill program at San Luis and it will test several high priority target areas including the past producing mines at Merceditas, San Jorge, Los Azules and La Castellana. The initial program targets have been identified through detailed mapping, sampling and geophysics (induced polarization/resistivity). The results of historical work combined with recent exploration indicate the potential of high-grade epithermal targets in an intermediate sulphidation environment.
Mineralization within the property extends over an area 7km x 3km. The mineralization that has been exploited to date on the property comprises free gold and gold associated with sulphides, both contained within quartz veins hosted by fault zones that are splays of regional structures. The veins exploited to date have been demonstrated to persist over a vertical range of at least 500 metres. The close proximity of the mineralized structures to one another demonstrates the endowment of the district. (see SEDAR filed Technical Report1).
Jeff Tindale, President and CEO states, "We are looking forward to the initial program at San Luis as this will be the first time any of these past producing structures have been drilled. We believe that this untested potential has created an excellent opportunity for new discoveries in the San Luis district."
Drilling will start at the recently acquired San Jorge mine where sampling of veins in two drifts, by TVX Mineria Ltda. in 1997, returned very encouraging results (see News Release of May 28, 2012):
- Vein: 71.72 metres samples averaged 324.16 g/t gold and 85.0 g/t silver over a 0.17 metre width; and
- Vein and wallrock combined: 71.72 metres samples averaged 39.09 g/t gold and 11.66 g/t silver over a width of 1.52 metres.
- Vein: 45.04 metres samples averaged 7.91 g/t gold and 1.97 g/t silver over a 0.38 metre width; and
- Vein and wallrock combined: 45.04 metres samples averaged 1.66 g/t gold and 0.56 g/t silver over a width of 1.66 metres.
Cliffmont has not verified the accuracy of data from historical exploration work. However, the work carried out by previous operators TVX Minera Ltda. appears to have been completed following the best practices at the time.
The drill contractor is Major Drilling Group International Inc. Drill core samples are analyzed by ALS Chemex Labs Ltd., an ISO 9001:2000 certified laboratory. Cliffmont maintains a QA/QC program whereby standard samples and blanks are inserted into each batch of samples to ensure quality control.
Cliffmont is pleased to announce the appointment of Kieran Downes, P.Geo., as the Qualified Person for the San Luis Project.
Mr. Downes has over 40 years diversified experience in gold, base metals, uranium and diamond exploration. He holds a B.Sc. (Hons.) in Geology from University College Galway (1971) and a Ph.D. in Geology from Dublin University (1974). He is a Registered Professional Geologist in British Columbia and Saskatchewan, and president of Tristia Ventures Corp., a company providing services in mineral exploration, property valuation and geochemistry. From 1992 to March 2011 Mr. Downes was President, CEO and QP for Golden Peaks Resources Ltd. a TSX listed junior exploration company with a focus on resource properties in Latin America. Mr. Downes is currently President, CEO and Director of Troymet Exploration Corp.
|1 de Wit, S.P. and Carpenter, T.H. (2012): Technical Report on the San Luis Property, Municipio de Neiva, Departamento del Huila, Colombia; NI43-101 Compliant Report by Discovery Consultants for Cliffmont Resources Ltd. SEDAR filed February 22, 2012.|
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. Cliffmont's head office is located in Vancouver, Canada and has offices in Bogota and Neiva, Colombia.
For further details on Cliffmont Resources, please see our website at www.cliffmontresources.com
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."
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