Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

March 02, 2011 08:30 ET

Cogitore Drilling on Central Lens Confirms Continuous Mineralization and Increases Tonnage Potential at Scott Lake

TORONTO, ONTARIO--(Marketwire - March 2, 2011) -

Cogitore Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to report assays from two massive sulphide intervals in drill hole SC-60, recently completed on the Company's Scott Lake Project (Chibougamau, PQ). The two intervals, separated by a barren dyke, yielded the following:

  • 0.9 % copper, 5.5 % zinc, 0.1 g/t gold and 52 g/t silver over 15.3 metres (257.1-272.4m); and

  • 0.6 % copper, 5.5 % zinc, 0.14 g/t gold and 24 g/t silver over 14.5 metres (302.6-317.1m).

Hole SC-60 was drilled to fill in a gap in coverage of the relatively shallow Central Lens (215 metres below surface), which will enable Central Lens mineralization to be added to existing NI 43-101 compliant resources (3.6 Mt of 1.1% copper, 5.2% zinc, 0.3 g/t gold and 36 g/t silver). One objective of the on-going program in the Central Lens area is to improve drilling coverage which was previously found inadequate by Scott Wilson RPA to include the massive sulphide lens in the original resources estimate. 

"The almost thirty metres of massive sulphides are the thickest ever intervals of this type of mineralization in the Central Lens" says Gerald Riverin, Cogitore's President and CEO. "We believe the massive sulphides once formed a single interval that was subsequently separated into two (dilated) by dykes related to overlying volcanic rocks. Dyking is a relatively common feature of base metal deposits of this type, indicative of high heat flow – a good thing to have evidence of."

In addition to Central Lens being added to compliant resources, mineralization associated with the new copper-rich CFO Lens will also be added to the next resource update, which is expected to be completed late in the second quarter.

Drilling continues with two drill rigs at Scott Lake. In addition to Scott Lake, drilling continues also at the Estrades-Caribou project but production has been slow due in part to very cold temperatures experienced in January. Drilling at the Lemoine project has been deferred temporarily due to technical problems encountered and the rig moved to the Scott Lake project.

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 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.

To view the map of the Scott Lake Project, please click on the following link: http://media3.marketwire.com/docs/scott_lake_project0302.pdf

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

  • Gerald Riverin
    President & CEO
    819-764-6666
    or
    Mark Goodman
    416-924-9893, ext. 2210
    or
    Louis Morin
    514-591-3988
    www.cogitore.com