Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

January 13, 2011 11:00 ET

Cogitore Continues to Intersect High Grade Copper and Zinc Mineralization at the Scott Lake Project With an 8.4 Metre Intercept Grading 2.45% Copper and 4.22% Zinc

TORONTO, ONTARIO--(Marketwire - Jan. 13, 2011) - COGITORE Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to report a new high grade intersection in the new CFO Lens at its 100% owned Scott Lake project in Quebec. The intersection was obtained from a wedge cut from hole SC-93-106W and is the third high grade intercept on the CFO Lens. More details are shown below:

DDH SC-106W3 (weighted averages)

From
(m)
To
(m)
Length
(m)
Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
1007.7 1016.1 8.4 2.45 4.22 0.37 72.3 massive and semi-massive sulphides
including  
1011.3 1014.9 3.6 4.74 7.04 0.55 114.3 massive sulphides

The new massive sulphide intersection was obtained about 112 metres above and west of SL-93-106W (see June 17, 2010 press release) and 93 metres west of the SC-53 intersection (March 31, 2010 press release). Since the announcement of the discovery of the new CFO Lens, all of the focus at Scott Lake has been shifted to the CFO Lens sector. In addition to completing one deepening and one wedge cut from surrounding holes, a deep parent hole was completed on Section 2100W approximately 100 metres to the west and 220 metres below the massive sulphides intersected in hole SL-93-106W, followed by two wedge cuts updip from that parent hole. 

A series of serious mechanical and technical difficulties have caused considerable delays in completing the parent hole to its final length of 1,416 metres. However, the parent hole did intersect the target horizon at a vertical depth of 1,228 metres which confirms that the prospective rhyolite horizon does extend to considerable depth and at least 100 metres to the west of the westernmost section ever drilled previously. Numerous zones of stringer and semi massive sulphides were intersected in the deep drilling on Section 2100W but no significant massive sulphides have yet been found down-dip of the SL-93-106W. Mineralized zones include 10.8 metres grading 1.46% zinc in parent hole SC-56, and two mineralized intervals in the first wedge cut from SC-56 returning respectively 14.3 metres grading 0.80% zinc and 0.51 g/t gold and 3.0 metres grading 0.82% copper.

Other drilling completed in 2010 includes the deepening of a wedge-cut from hole SC-52 (see March 31, 2010 press release). Although that hole was initially drilled to test the West Lens mineralization, it turned out to be also well positioned to test the CFO Lens target horizon east and below the SC-53 discovery hole, and it was deepened by only 194 metres to provide another piercing point on the CFO Lens horizon. Stringer sulphides were intersected within the Tony rhyolite host rock with significant copper and gold grades:

DDH SC-52W (weighted averages)

From
(m)
To
(m)
Length
(m)
Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
1060.4.1 1063.1 2.7 1.67 - 0.88 6.5 stringer sulphides
including  
1062.4 1063.1 0.70 2.97 - 3.25 12.6 stringer sulphides

Borehole geophysical surveys were completed in all holes with indications of good conductive zones in the immediate vicinity of the recent holes. 

Company President Gérald Riverin, Ph.D., P. Geo. stated: "We are pleased with the high grades obtained in SC-106W3 and that the technical problems are now behind us. Our objective at Scott Lake remains to increase mineral resources prior to a preliminary scoping study, which could lead to underground exploration."

Work is carried out by the Company's personnel, under the supervision of Gérald 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.

All drill core discussed in this press release was logged and marked up for assay at the Company's secure facility in Chibougamau, Quebec. Drill core for assay was split in half. Half of the core was shipped in sample bags to either ALS Chemex of Val d'Or or Laboratoire Expert Inc. of Rouyn-Noranda with appropriate standards, duplicates and replicates used for quality control purposes. The other half of the core is retained for future reference.

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.

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", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue", "does not expect", "budget", "scheduled", "forecast" or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions regarding expected developments. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

Forward looking-information involves known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements of the Company to differ materially from the future results, performance or achievements expressed or implied by such forward looking information. Such risks, uncertainties and other important factors include, without limitation: general economic conditions; access to skilled consultants; the possibility that future exploration results will not be consistent with the Company's expectations; uncertainties involved in interpreting drilling results; unanticipated costs and expenses; timing and availability of external financing on acceptable terms; dependence on key personnel; future prices of precious and base metals; failure of equipment or processes to operate as anticipated; and risks inherent in mining exploration 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 March 31, 2010, 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.
    Mark Goodman
    416-924-9893, ext. 2210
    www.cogitore.com