Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

January 20, 2010 14:35 ET

Cogitore Resources Resumes Drilling on Scott Lake and Estrades-Caribou Projects

TORONTO, ONTARIO--(Marketwire - Jan. 20, 2010) - COGITORE Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to announce the resumption of drilling at its 100% owned Scott Lake project and at its Estrades and adjoining Caribou property.

The drilling program at Scott Lake will initially complete drilling along the eastern extension of the resources reported on January 7, 2010 (which totalled 3.6 million tonnes grading 1.1% copper, 5.2% zinc, 0.3 g/t gold and 36 g/t silver). Subsequently, a series of holes will be drilled to test exploration targets in the immediate vicinity of the deposit, including an off-hole anomaly detected from drill hole SC-31 approximately 150 metres below hole SC-45, and an off-hole geophysical anomaly detected from drill hole SL-91-106E mentioned in previous press releases.

At the Estrades-Caribou project, the drill program has begun testing the extension of last year's Caribou discovery at depth and to the east. As well, a number of geophysical targets along strike of the new massive sulphides will be tested. In 2009, the Company announced the discovery of high grade massive sulphides with drill holes CAR-02, CAR-04, CAR-06 and CAR-07 which yielded an average core length of 1.8 metres grading 3.79% copper, 7.03% zinc, 1.93 g/t gold and 70.0 g/t silver. This new deposit is located about 4 kilometres to the west of the Estrades mine and is located along the same volcanic horizon as the Estrades deposit. A deep penetrating ground geophysical survey (InfiniTEM) has been initiated on the property to further explore the Estrades mine horizon and to detail a number of MegaTEM airborne geophysical anomalies.

Work is carried out by the personnel of Cogitore Resources Inc., under the supervision of President Gerald Riverin, PhD, P.Geo. He is a qualified person (as defined by National Instrument 43-101) and has more than 30 years of experience in VMS exploration.

The Company has developed a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it will focus its work in the Abitibi Belt of Quebec and Ontario, and in the Central Belt of Newfoundland.

Forward Looking Statements

Certain statements contained in this news release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to our future outlook and anticipated events or results. In some cases, forward-looking information can be identified by terms such as "may", "will", "propose", "expecting" or other similar expressions concerning matters that are not historical facts. These statements are based on the Company's current expectations and assumptions that could prove to be incorrect. The forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them. In making forward-looking statements, the Company has assumed that the market conditions for the private placement will remain favourable. Actual results may differ materially as a result of risks, uncertainties and other factors, such as changes in the general economic, regulatory, industry, market and business conditions; fluctuations in prices of precious and base metals and currency exchange rates; the possibility that future exploration results will not be consistent with the Company's expectations; unanticipated costs and expenses; timing and availability of external financing on acceptable terms; dependence on key personnel; failure of equipment and development including, but not limited to, unusual or unexpected geological formations. Such factors are also described or referred to under the headings "Property and Financial Risk Factors Affecting Financial Instruments" and "Other Risk and Uncertainties" of the Company's Management's Discussion and Analysis for the quarter ending September 30, 2009, all of which are incorporated by reference herein and are available at SEDAR at www.sedar.com. We caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events except where required by applicable laws.

Neither the 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.

Contact Information

  • COGITORE Resources Inc.
    Gerald Riverin
    President & CEO
    819-764-6666
    or
    COGITORE Resources Inc.
    Louis Morin
    Director Investor Relations
    514-591-3988
    http://www.cogitore.com/