Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

June 17, 2010 08:00 ET

Cogitore Intersects 26.7 Metres of 2.1% Copper and 5.2% Zinc at Scott Lake: New Massive Sulphide Discovery Expanded

TORONTO, ONTARIO--(Marketwire - June 17, 2010) - COGITORE Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to report on exciting new developments at its 100% owned Scott Lake project in Quebec. The first hole drilled to follow-up the new massive sulphide discovery announced on March 31, 2010 intersected 26.7 metres of massive sulphides grading 2.1% copper, 5.2% zinc, 0.3 g/t Au and 24.9 g/t Ag as follows:

DDH SL-93-106W (weighted averages)

From
(m)
To
(m)
Length
(m)
Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
1107.0 1133.7 26.7 2.1 5.2 0.3 24.9 massive sulphides
including              
1107.0 1125.2 18.2 2.8 6.4 0.4 26.7 massive sulphides
including              
1120.5 1124.6 4.1 5.2 1.9 0.6 37.9 massive sulphides

There is not enough drilling data presently available to determine the shape and true width of the mineralized zone. A picture of the drill core is available on the Company's website at http://www.cogitore.com/download/Cogitore-DrillcoreSL-93-106W.pdf

The discovery of the new massive sulphide lens, which has been named the "CFO Lens", was made while following up a borehole PEM anomaly detected in 2008 in drill hole SL-93-106E (see press releases of September 10, 2008 and October 15, 2009). Subsequent borehole geophysics in discovery hole SC-53 indicated that SC-53 had just intersected the edge of a large conductor. The main conductive mass was interpreted to lie to the west and down from SC-53, which has now been confirmed by the mineralized interval reported above in SL-93-106W, which lies about 125 metres down and to the west of SC-53. The new 26.7 metre intersection was obtained by wedging off hole SL-93-106 drilled in 1993 (see attached Figure 1: http://media3.marketwire.com/docs/woo0617.pdf). The vertical depths of the SC-53 and SL-93-106W intersections are 909 metres and 1013 metres respectively. Another wedge cut has been started and will be completed shortly.

The CFO Lens is located along a new rhyolite horizon that is different than, and located 100 metres to the north of, the Scott rhyolite hosting the West Lens and the NI 43-101 compliant 3.6 million tonne mineral resource.

Company President Gérald Riverin, Ph.D., P. Geo. stated: "We are very excited by the substantial thickness and grade of the massive sulphides in this new hole. The mineralized zone remains open in several directions and the increase in thickness combined with the 125 metre step-out from SC-53 suggests potential for significant tonnage in the CFO Lens. Our objective at Scott Lake is to increase mineral resources prior to a preliminary scoping study, which could lead to underground exploration. We are looking forward to further testing this new lens which may dramatically change the scope of the Scott Lake Project. Credit for this new discovery must be given to our dedicated exploration team led by our Vice President Tony Brisson."

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 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.

Annual General Meeting: Cogitore will hold its 2010 Annual General Meeting at 11:00 am, Monday, June 21, at Blake, Cassels & Graydon LLP, Thames Room, 199 Bay Street, Commerce Court West, Toronto, Ontario. 

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
    http://www.cogitore.com/