Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

January 18, 2011 11:00 ET

Cogitore Resources Currently Drilling on Four Projects

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2011) - COGITORE Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to report that diamond drilling programs are currently underway at four of its base metal projects.

One rig is drilling at Scott Lake where a 7,600 metre program started on January 4. The program is meant to provide additional information in key areas in preparation for an update of mineral resources that are currently established at 3.6 million tonnes grading 1.1% copper, 5.2% zinc, 0.3g/t gold and 36.0g/t silver. The drilling will be done in the Central Lens, the West Lens and the new CFO Lens areas. Targets include also important geophysical conductors identified in recent drill holes. The objective at Scott Lake remains to increase mineral resources prior to a preliminary scoping study, which could lead to underground exploration.

One drill rig is in operation at the Caribou Project located in the Casa-Berardi area, where a 2,700 metre drill program is underway. The targets include isolated airborne (MegaTEM) anomalies in favourable areas and deep drilling on the high grade Caribou copper-zinc-gold-silver discovery made in 2009.

Drilling has also started at the Lemoine project to test the downdip extension of a high grade massive sulphide intersection of 0.43 m grading 4.3% copper, 6.3% zinc and 1.1 g/t gold. This intersection was obtained along the Lemoine mine horizon from underground drilling at a depth of 660 metres from surface and may represent a new massive sulphide lens opening at depth.

As well joint venture partner Vismand Exploration is currently drilling on Cogitore's Normetal West Project. The targets to be drilled include geophysical conductors that have been identified by Cogitore in felsic volcanics and that were subsequently confirmed by Vismand with deep penetrating TITAN 24 surveys. Vismand has the option to earn a 50% interest in the Normetal West Project and must drill a minimum of 2,000 metres before September 2011 to maintain its option in good standing.

In addition to the above drilling programs, the Company has also initiated a deep penetrating InfiniTEM survey at the Selbaie West Project about 14 kilometres to the west of the former Selbaie mine. The survey will cover two distinct stratigraphic horizons located at the base and at the top of a high temperature rhyolite unit, along which anomalous gold and zinc values have been found by previous drilling.

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
    Gerald Riverin
    President & CEO
    819-764-6666
    or
    Cogitore Resources
    Mark Goodman
    416-924-9893, ext. 2210
    http://www.cogitore.com