Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

June 18, 2012 06:30 ET

Cogitore Reports on Scott Follow-Up Drilling Results

- Up to 12.5 metres grading 2.7% copper, 7.0% Zn and 104 g/t silver

TORONTO, ONTARIO--(Marketwire - June 18, 2012) -

Editors Note: There is a photo associated with this press release.

Cogitore Resources Inc. (the "Company") (TSX VENTURE:WOO) reports results from follow-up drilling around hole SC-72 which had returned 47.3 metres grading 2.5% copper, 8.7% zinc, 0.7 g/t gold and 100 g/t silver (press release of March 19, 2012). Drilling to date includes six holes completed within a block 100 metres a side centered on SC-72.

In order to improve confidence in the resource block model in this area, drilling was initiated to investigate a sparsely drilled sector of the West Lens, which in this location straddles the contact between mineralized volcanics and the crosscutting barren Chibougamau Pluton. Several intervals of massive and stringer sulphides were intersected in the recent drilling but, given proximity of the Chibougamau Pluton, the mineralized zones are commonly split apart from each other by various dykes associated with the Pluton. The best intercepts are:

  • 12.5m of 2.7% copper, 7.0% zinc, 0.7 g/t gold and 104 g/t silver (SC-78W)
  • 7.0m of 2.9% copper, 4.3% zinc, 1.6 g/t gold and 178 g/t silver (SC-78W)
  • 5.6m of 0.4% copper, 18.3% zinc, 0.9 g/t gold and 18 g/t silver (SC-76)
  • 6.0m of 2.0% copper, 3.6% zinc, 0.1 g/t gold and 61 g/t silver (SC-76)
  • 26.5m of 1.25 copper, 5.3% zinc, 0.1 g/t gold and 40 g/t silver (SC-76)

Between 2010 and 2011 the Company increased compliant resources at the property by 50% and the copper grade by 10%. However, the impact of the recent drilling results to the existing resources has not been estimated. All holes were drilled respectively on sections 1700W, 1750W and 1800W as shown on attached Figure 1. Assay results are presented in Appendix 1.

"The Company is encouraged by the above-noted intervals. For example the high-grade zinc zone first encountered in holes SC-34, SC-72 and again more recently in SC-76 and SC-77 is tantalizing. However, we are also cognizant of the impact of the apparently high density of barren dykes in many holes" says Dr. Gérald Riverin, President and CEO. "Down-the-hole geophysical surveys are in progress to establish continuity (conductivity) between mineralized intercepts. Because of surface water constraints we could not drill our SC-72 follow-up holes at the most opportune orientations, which may be a factor in the amount of dyking encountered. Drilling is ongoing."

In addition to drilling in the West Lens area, two holes were drilled to explore a second prospective unit north of the Scott Rhyolite (Tony Rhyolite) in the vicinity of hole SC-61 where encouraging copper mineralization was discovered in 2011 (0.9% Cu over 21m, including 2.8% Cu over 3.1m - south contact, and 6.8% Cu, 0.5g/t Au and 140 g/t Ag over 20cm - north contact). Assays were received from one hole (SC-73) while those in the second hole (SC-74) are pending.

Hole SC-73 (inclination: -73°)
From
(m)
To
(m)
Length
(m)
Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
611.4 613.3 3.1 2.2 0.1 - 20 disseminated and stringer sulphides
662.7 666.6 3.9 0.7 3.8 0.1 10 stringer sulphides
including
664.6 665.2 0.6 0.8 15.6 0.1 12 massive sulphides

"We are very encouraged by the high copper assays typically associated with the Tony Rhyolite concludes Riverin. For every 20 holes drilled to explore the Scott Rhyolite, only one has probed the Tony Rhyolite target unit. The copper-rich CFO Lens (inferred resources: 0.38 Mt grading 2.4% Cu and 4.8% Zn) was discovered in 2010, the Tony Rhyolite was identified only in 2007.

All of the assay intervals described in this press release are weighted averages of several individual assays within a given composite core length. The true thickness of the mineralized intervals cannot be determined with certainty but is estimated to be ranging anywhere from 60% to 90% of the core length, depending on the attitude of the zones.

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 sawn in half. Half of the core was shipped in sample bags to ALS Minerals laboratories of Val d'Or, Quebec, with appropriate standards, duplicates and replicates used for quality control purposes. The other half of the core is retained for future reference and metallurgical studies.

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 35 years of experience in VMS exploration.

The Scott Lake project is located in the Chibougamau mining camp, Quebec, which is a natural resource based community serviced by rail, paved highways and regularly scheduled air service. Major forestry roads and hydro transmission lines traverse the Scott Township property. In the 1950's and 1960's Chibougamau was one of Canada's largest copper producing districts.

The Company's strategic focus is on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Its current focus is in the Abitibi Belt of Quebec and Ontario.

Caution Regarding Forward-Looking Information

This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release, include, but are not limited to, economic performance and future plans and objectives of the Company. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Cogitore believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this new release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. Cogitore disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

APPENDIX 1

DETAILS ON ASSAY RESULTS

SECTION 1700W (holes SC-75, SC-76 and SC-76W)

Hole SC-75 (inclination: -77°)
From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
357.7 361.3 3.6 1.3 9.5 0.1 41 massive sulphides
419.1 455.9 36.8 0.7 2.0 0.1 26 stringer sulphides
including
419.1 426.3 7.2 1.0 2.1 0.0 25 stringer sulphides
and
443.7 455.9 12.2 0.6 4.1 0.2 28 stringer sulphides
Hole SC-76 (inclination: -73°)
From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
340.4 346.0 5.6 0.4 18.3 0.9 18 massive sulphides plus dykes
354.7 360.7 6.0 2.0 3.6 0.1 61 massive sulphides
391.9 418.4 26.5 1.2 5.3 0.1 40 massive sulphides with (barren) dykes and 4 m of stringer sulphides
Hole SC-76W (inclination: -68°)
From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
347.9 355.5 7.6 0.1 2.3 0.1 5 stringer sulphides

SECTION 1750W (holes SC-78 and SC-78W)

Hole SC-78 (inclination: -80°)

The hole was drilled about 30 metres south of SC-72 and remained in intrusive rocks of the Chibougamau Pluton, with no mineralization intersected.

Hole SC-78W is a wedge-cut from SC-78 and tested about 15 metres south of SC-72.

Hole SC-78W (inclination: -76°)
From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
412.7 430.4 17.7 1.5 4.2 0.2 61 Massive sulphides with partly mineralized dykes
445.8 458.3 12.5 2.7 7.0 0.7 104 massive sulphides
466.5 473.5 7.0 2.9 4.3 1.6 178 Massive and semi-massive sulphides
479.5 486.4 6.9 1.5 1.3 0.7 76
491.0 520.0 29.0 Assays pending stringer sulphides in Scott Rhyolite

SECTION 1800W (hole SC-77)

Hole SC-77 was designed to test about 30 metres south of SC-34 (January 9, 2009 press release). It hit a number of mineralized intervals separated by intrusive rock (dykes) as follows:

Hole SC-77 (inclination: -78°)
From
(m)
To
(m)
Length (m) Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
411.6 419.8 8.2 - 9.2 0.1 8 massive sulphides with over 50% dyke material
including
411.6 412.6 1.0 - 29.6 - 11 massive sulphides
and
414.1 415.4 1.3 - 24.7 0.1 7 massive sulphides
498.7 508.9 10.2 0.5 4.7 0.1 25 massive sulphides plus dykes
516.1 522.2 6.1 0.5 4.4 0.5 26 massive sulphides plus dykes
525 619 94 assays pending stringer sulphides in Scott Rhyolite

To view Figure 1 associated with this press release, please visit the following link:

http://www.marketwire.com/library/20120615-WOOFig1LRG.jpg

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

    Mark Goodman
    416-924-9893
    www.cogitore.com

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