VANCOUVER, Oct. 11, 2012 /CNW/ - Cliffmont Resources Ltd. (TSX-V - CMO) ("Cliffmont" or the "Company") is pleased to announce initial drill results from the 2012 phase one drill program at the San Luis Project in Huila Department, Colombia. A total 1219.60 metres from the first five drill holes are being reported. Two high priority targets were tested and results confirm continuity of high grade gold mineralization at depth below two past producing mines. This is the first time the project has been drill tested.
Significant drilling highlights:
The objective of hole SLD-05 was to intersect the Merceditas vein at depth to show continuity of mineralization below the mine workings.
- A new mineralized zone was discovered approximately 100 metres above the mine workings which averages 1175.5 g/t silver over 3.00 metres starting at 16.00 metres below surface in saprolite.
- The primary vein structure which was intersected at 183.95 metres down hole (approximately 50 metres below the mine workings averages 8.23 g/t gold over 1.45 metres).
- A new and parallel vein structure was intersected approximately 7.00 metres below the primary vein structure. It averages 8.21 g/t gold over 1.00 metre. This vein structure is a new discovery. To date, it has not been tested at shallow depths although it is likely it parallels the mine workings.
San Jorge Mine
The objective of the drill program is to test high-grade historical channel sampling by TVX Mineria Ltd in 1997. The TVX channel 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. (See Press Release May 31, 2012)
- Hole SLD-04 intersected gold mineralization averaging 17.87 g/t gold over 3.00 metres, including 0.50 metres averaging 106 g/t gold approximately 40 metres below the level of the TVX sampling (Level 1872). The intersection demonstrates the continuity of the mineralization to depth.
- 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. The results of this hole indicate a sizeable area of potential mineralization that requires drill testing.
Jeff Tindale, President and CEO states, "We are delighted with these early results. The discovery of two new zones of mineralization at Merceditas, as well as the intersection of the primary vein structure 50 metres below the mine workings, is extremely encouraging and a great start in Cliffmont's evaluation of this target. The San Jorge results show the high-grade mineralization continues to depth and has identified a large area of potential mineralization that requires drill testing. This is a great beginning for Cliffmont with many drill holes still pending. We have several other targets on our property to test and this initial success will enable the company to continue to expand on these discoveries."
See Plan View Property Map Link: http://files.newswire.ca/1115/San_Luis.pdf
The Company's strategy is to test for continuity of mineralization below past producing mines. The plan includes the evaluation and blocking of mineralization to explore the possibilities of a near term production decision while continuing to explore and evaluate numerous other larger areas of thicker mineralization.
San Jorge is in the upper part of the epithermal system at an elevation of 2000 metres and currently is an exploitation license. The first four holes (983.6 metres) of the Company's initial drill program have been completed at San Jorge. San Jorge is a past producing historical mining area. The Company plans to continue testing the San Jorge mineralization as it has substantial lateral extent on surface with several coincidental geochemical anomalies.
At Merceditas there is potential for significant gold and silver mineralization below and adjacent to the mine workings. Merceditas is located lower in the epithermal system at an elevation of 1700 metres. The Company believes the Merceditas target has the potential to host a significant body of mineralization as determined from the recent drilling, geochemical sampling, mapping, and geophysical survey work completed to date.
Table 1 - Significant Drill Intersections
|Hole||From (m)|| To
|Au g/t||Ag g/t|
|San Jorge||SLD-02||No significant values|
*Interval represents down hole core length; true widths cannot be reliably estimated at this time.
Table 2 - Drill Hole Specifications
|Hole #||UTM E||UTM N||Elevation||Azimuth||Dip||Depth|
To view all maps and figures please visit the Company's website at www.cliffmontresources.com
Drill core samples were 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.
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