Tracking the big deposit
VMS - Abitibi Belt of Quebec & Ontario & in the Central Belt of Newfoundland
Message: New Massive Sulphides 2.52% Copper, 6.99% Zinc, 1.48 g/t Gold and 62.8 g/t Silve
| February 5, 2009 | |
| Cogitore Discovers New Massive Sulphides on Caribou Property: Includes Intersection of 2.52% Copper, 6.99% Zinc, 1.48 g/t Gold and 62.8 g/t Silver Over 1.7 metres. | |
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TORONTO, ONTARIO--(Marketwire - Feb. 5, 2009) - A photo is available via Marketwire's website. COGITORE Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to report the discovery of a volcanogenic massive sulphide (VMS) horizon on its Caribou Project, 95 kilometres southwest of Matagami, PQ. The intercept occurs 3.4 kilometres west of the Company's past-producing VMS Estrades Mine (Figure 1). The Caribou Property, previously known for its gold potential, was optioned from IAMGOLD in late 2007 (see press release of September 17, 2007). An InfiniTEM geophysical survey totalling 52 km was completed in early 2008, but planned drilling had to be suspended due to early spring break-up and lack of winter road access. Hole CAR-02, the first Cogitore drill hole to test the Estrades Mine sequence of felsic volcanic rocks on the Caribou Property, intersected a modest, but significant, 4.1 metres of bedded exhalative tuff grading 1.29 % copper, 4.71 % zinc, 0.92 g/t gold and 30.9 g/t silver starting at 310.0 metres down hole (255 metres vertical). Included within this interval are two distinct copper-rich beds and zinc-rich footwall stringers. Assay results are tabled below: -------------------------------------------------------------------------
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From To Length Cu Zn Au Ag Remarks
(m) (m) (m) % % g/t g/t
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310.0 314.1 4.1 1.29 4.71 0.92 30.9
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Including
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310.0 311.7 1.7 2.52 6.99 1.48 62.8 massive
sulphides
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And
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312.7 313.6 0.9 0.54 6.74 0.23 9.7 stringer sulphides
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The zinc-rich stringer zone contains strong chlorite and sericite alteration of felsic footwall volcanic rocks. This intersection is indicative of an ancient 'black smoker mound' environment where poly-metallic massive sulphide deposits similar to Estrades and Matagami are formed. As at the Estrades Mine, south geologic tops are indicated, providing further support to the interpretation that this is indeed the same horizon that hosts the Estrades Mine deposit. A borehole Pulse EM survey was done in CAR-02 and a clear "edge-type" response was obtained, indicating that the hole only touched the edge of an extensive conductive sheet. Follow-up drilling on this conductor is in progress. Hole CAR-02 is located on Section 60W, which is located 3.4 kilometres west of Cogitore's Estrades Mine (Figure 1). Total Indicated Resources on the Main and Central Zones of the Estrades Mine were established by GENIVAR at 709,000 tonnes grading 9.8% zinc, 0.8% copper, 0.9% lead, 5.0 g/t gold and 163 g/t silver. A NI43-101 compliant technical report on the Estrades Mine was filed on SEDAR in December 2008. Also on Section 60W is prior drill hole 265-86-7, completed in 1986 by Newmont Mining Corp. At a vertical depth of 80 metres, hole 265-86-7 intersected 0.6 metres of 0.22% Cu, 0.92% Zn, 0.22 g/t Au, and 18.5 g/t Ag. Holes CAR-02 and 265-86-7 are the only two holes known to have tested the Estrades Mine Horizon on the laterally extensive Caribou Project. "The exhalative tuff intersected in hole CAR-02 is similar to the 'Key Tuffite' marker for the Matagami VMS Camp and the 'Main Contact Tuff' marker for the Central Noranda VMS Camp" relates Dr. G?rald Riverin, President and CEO of Cogitore Resources Inc., "so we are extremely pleased with the results from drill hole CAR-02. At this time Caribou is a winter-only project and we will keep drilling as long as conditions allow. The discovery of an economically viable VMS deposit at Caribou would have a positive effect on the potential development of the remaining resources at the nearby Estrades Mine." Company Executive Chairman Mark Goodman commented "While drilling is still continuing at Scott Lake, we are very excited to have also discovered new massive sulphides at Caribou. We are extremely fortunate to be making massive sulphide discoveries at two VMS projects being drilled concurrently but located over 300 kilometres apart. The credit goes to our exploration team led by our Vice-President Tony Brisson." The Caribou property is located immediately adjacent to the Company's Estrades claims that were optioned from Inmet Mining Corporation ("Inmet") in 2004. About one third of the Caribou property falls within an area of interest defined in the Cogitore-Inmet joint venture agreement and therefore becomes subject to that agreement. The Company has recently given notice to Inmet that it has now earned a full 50% interest on the Estrades claims (which exclude the Estrades Mine). Inmet must now make a decision to either participate in a joint venture or have its interest diluted. Work is carried out by the personnel of Cogitore Resources Inc., under the supervision of G?rald Riverin, PhD, P.Geo. He is a qualified person (as defined by National Instrument 43-101) and has more than 32 years of experience in mineral exploration. The drill core from hole CAR-02 was logged and marked up for assay at the Company's secure facility in Normetal, PQ. Drill core for assay was split in half. Half of the core was shipped in sample bags to the ALS Chemex laboratory in Val d'Or, PQ for specific gravity measurement and sample preparation. Pulps were flown to Vancouver, B.C. for analysis with appropriate standards, duplicates and replicates used for quality control purposes. The other half of the core is retained for future reference. Cogitore explores for VMS-type deposits in areas where such deposits have been found and mined before. Exploring in such areas is preferred because of existing infrastructure, knowledgeable local workforces and broad public support for mining. Collectively, these are major competitive advantages for logistics and economics. A photo is available through the following link: http://media3.marketwire.com/docs/ca... |
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