TORONTO, ONTARIO--(Marketwire - Jan. 9, 2013) - Cogitore Resources Inc. (TSX VENTURE:WOO) is pleased to report that a diamond drilling program has started at its Caribou Project located in the Casa-Berardi area of NW Quebec. One drill rig mobilized to the first drill site on January 8 and a 4,000 metre drill program is planned.
Drilling at Caribou by Cogitore in 2009 led to the discovery of high grade polymetallic massive sulphides located 3.4 kilometres to the west of the high grade Estrades mine (past production: 174,946 tonnes of ore grading 1.1 % Cu, 13.0 % Zn, 6.4 g/t Au and 172 g/t Ag). The mineralized zone at Caribou is on the same stratigraphic horizon as the Estrades mine and forms a thin vertical sheet of approximately 300 metres by 400 metres. The weighted average of the six holes drilled to date is 3.3% copper, 6.5% zinc, 1.7 g/t gold and 66.1 g/t silver over a core length of 1.5 metres. The Caribou mineralization consists of classic volcanogenic massive sulphides (VMS) and the overall grades encountered to-date are in line with those within the top 10% of all VMS deposits worldwide (in terms of overall grade). The Caribou zone remains open below 600 metres vertical.
The objective of the on-going program is to identify areas of increased thickness of the mineralized zone and the target sectors include the extension at depth of the Caribou deposit, zones of increased conductivity within the known deposit, and an isolated conductor (InfiniTEM anomaly) identified in 2010 about 300 metres on strike and to the west of the deposit. Cogitore completed the earning of its interest in the Caribou project during 2012 and, following IAMGOLD's decision to not participate in a joint venture, Cogitore is now the 100% owner of the project.
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.
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.
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