Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

May 18, 2011 14:00 ET

Cogitore Reports Second Copper Enriched Lens Discovered at the Scott Lake Project

TORONTO, ONTARIO--(Marketwire - May 18, 2011) - Cogitore Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to report assays from drill hole SC-61. The intercepts consist of volcanogenic massive and stringer sulphides (VMS) located near the top of the Tony Rhyolite and hole SC-61 is interpreted as a discovery hole for a second copper-enriched lens associated with the Tony Rhyolite volcanic unit.

The assay breakdowns for the sulphide mineralization-types are:

Hole SC-61 (south massive sulphides)

From
(m)
To
(m)
Length
(m)
Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
534.4555.421.00.90.2-12.4massive and stringer sulphides
(vert. depth: 480m)
including
534.4537.53.12.80.50.246.3massive sulphides
South contact of rhyolite
and
548.8555.46.61.40.20.116.8Stringers sulphides
555.4589.333.9low values
589.3592.43.11.90.10.213.7Stringers sulphides

In addition to the above mineralization located at the south contact of the rhyolite unit, there was also a narrow high grade massive sulphide band along the north contact of the rhyolite:

Hole SC-61 (north massive sulphides)

From
(m)
To
(m)
Length
(m)
Cu
%
Zn
%
Au
g/t
Ag
g/t
Remarks
616.7616.90.26.80.40.5140massive sulphides
(vert. depth: 550m)

Bedding core angles in the north and south massive sulphides suggest true widths in the order of 75-80 percent. The configurations of the underlying stockwork sulphide "plumbing" zones are unknown at this time.

Hole SC-61 targeted a down-the-hole geophysical response related to stringer-type mineralization (1.3% copper over 4.5 metres) intersected by hole SC-51. The intersections in holes SC-51 and SC-61 are located approximately 30 metres apart and about 150 metres north of the West Lens which contains the bulk of the published NI 43-101 compliant resources on the project. The fact that the recent massive sulphide intercepts in holes SC-61 (Tony Rhyolite) and the West Lens (Scott Rhyolite) are separated horizontally by only 150 metres has positive implications for eventual extraction, since mineralization is essentially 'twinned' in plan.

Significance of hole SC-61

The SC-61 mineralization occurs at the same formational time horizon (top of Tony Rhyolite) as the "CFO Lens" (Press Release June 17, 2010) but at shallower depth. The intercept is also likely related to a 3.0% copper over 4.7 metres interval in old hole SL-91-88 drilled in 1991 and located approximately 65 metres above and 200 metres east of SC-61.

"The SC-61 intercepts appear to represent a new lens located at the top of the Tony Rhyolite" says President & CEO Dr. Gerald Riverin. "For years the copper hit in SL-91-88 seemed to be an unexplainable "exotic" located too far north and too high in the volcanic sequence to relate to anything we knew. Until our discovery of the CFO Lens in mid-2010 our focus was indeed on the "West", "Central" and "800" massive sulphide lenses, all of which are associated with the Scott Rhyolite about 150 metres to the south."

The drill program is now completed and the Company has recently commissioned Roscoe Postle Asociates Inc. to prepare an updated mineral resource estimate and supporting NI 43-101 Technical Report on the property. Results are anticipated to be released mid-June.

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 ALS Chemex of Val d'Or 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

    Cogitore Resources Inc.
    Mark Goodman
    416-924-9893, ext. #1
    www.cogitore.com