Crowflight Minerals Inc.
TSX : CML

Crowflight Minerals Inc.

March 04, 2010 11:54 ET

Crowflight Reports Final Results From Drilling at M11A North Deposit

TORONTO, ONTARIO--(Marketwire - March 4, 2010) - CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX:CML) today announced the remaining assay results from a program of exploration and delineation drilling completed in December 2009 at the Company's M11A North project area. The M11A North deposit is located four kilometers north of the Bucko Lake Nickel Mine and milling operations located near the town of Wabowden, Manitoba. Results for the final 5 of 18 holes are presented below. Highlight intersections from the final results include 5.20 metres grading 1.82% nickel in Hole M09-15 and 4.33 metres grading 2.71% nickel in Hole M09-18.

Table 1.

Fall 2009 Exploration Program at M11A North – Recent Assay Results

      Core Core      
Drill Hole From To Length Length Ni% Cu% PGEs (1)
  (m) (m) (m) (feet) % % (ppm)
               
M09-10 334.00 342.98 8.98 29.46 0.93 0.08 0.29
               
M09-14 No Significant Intercept
               
M09-16 405.95 406.35 0.40 1.31 2.94 0.04 1.30
               
M09-18 292.21 295.53 3.32 10.89 1.06 0.09 0.22
and 313.17 317.50 4.33 14.21 2.71 0.04 0.38
               
M09-15 330.15 333.75 3.60 11.81 1.54 0.10 0.48
and 429.65 436.00 5.20 17.06 1.82 0.14 0.44
               
(1) Combined platinum, palladium and gold values
               
Intersection intervals reported are core lengths, actual true widths are unknown at this time but are generally 70 to 80% of core length. Once known, true widths are calculated for each intersection. These could vary somewhat from time to time as the zones are re-interpreted, thereby altering the geometry.

Drilling completed in late 2009 at M11A was designed to infill mineralization outlined in 2006 and 2007 and follow-up on the new zone of mineralization identified in Hole M08-03 in 2008. In total, 6,894 metres in 18 holes were completed during the 2009 program. Please refer to the press release dated February 4, 2010 for assay results from the first 13 holes of the M11A drill program.

The Company plans to review results from this program and update resource calculations at M11A North later this year. Crowflight is advancing the M11A North deposit with a view to it eventually providing a source of supplemental feed for the Bucko Mine operations to expand production and extend the life of the operations. A National Instrument (NI) 43-101 compliant inferred resource estimate for the deposit is calculated at 903,000 tonnes grading 1.55% nickel (refer to press release dated March 12, 2009).

Core samples and interpretive display materials relating to the 2009 program at M11A North will be on display at the Core Shack of the PDAC on March 7-8, 2010 in Session A at booth 5000. Crowflight invites those interested in learning more about the geology of the deposit to visit the Core Shack booth to view the display material and to speak with a Company representative. Crowflight will also be exhibiting at the Investors Exchange of the PDAC at booth #2528 from March 7-10, 2010.

Qualified Person/Quality Control Procedures

This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo. (APGO/APEGM) and VP Exploration of Crowflight, who is a Qualified Person under the National Instrument 43-101 guidelines. Fire assays were performed at the ALS-Chemex laboratory in Vancouver on all the samples for gold and PGEs which undergo an ICP-AES finish and Sodium Peroxide Fusion. All other metals undergo an ICP-AES finish. Standards and blanks are submitted with each sample batch.

About Crowflight Minerals

Crowflight Minerals Inc. (TSX:CML) is a Canadian junior mining company that owns the Bucko Lake Nickel Mine near Wabowden, Manitoba. The Company is also focused on nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.

Cautionary Note on Forward-Looking Information

This press release contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to mineralization projections, including mineral resource estimates; timing, size and cost of future exploration programs and the potential of using the M11A deposit as a source of feed for the Bucko mine. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Estimates regarding mineral resource estimates are based on available information and analysis of management and independent qualified persons. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: unexpected events and delays during production; timing and availability of external financing on acceptable terms; changes in project parameters as plans continue to be refined; future prices of minerals, particularly nickel; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Further information is available on the Company's website at www.crowflight.com.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/cml304fig1.pdf

Total Shares Outstanding: 581.7 MM

Fully Diluted: 714.8 MM

52-Week Trading Range: C$0.13 - $0.35

Contact Information

  • Crowflight Minerals
    Mark Trevisiol
    President & CEO
    (416) 861-5893
    or
    Crowflight Minerals
    Heather Colpitts
    Manager, Investor and Public Relations
    (416) 861-5803
    info@crowflight.com
    www.crowflight.com