Cogitore Resources Inc.

Cogitore Resources Inc.

July 15, 2008 13:30 ET

Cogitore Resources Inc. Initiates 2008 Diamond Drilling Program at its Lemoine Project Near Chibougamau, Quebec

TORONTO, ONTARIO--(Marketwire - July 15, 2008) - COGITORE Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to announce the commencement of its 2008 drilling program at the Lemoine project in the Chibougamau area of Quebec. The drill rig has already mobilized to the project and started coring on July 15. Cogitore has a second drill in the Chibougamau area, drilling on its Scott Lake Project.

The Company previously announced (May 28, 2008 Press Release) that it would drill its Normetal West project in north-eastern Ontario prior to drilling Lemoine this coming fall. However, rather than incur standby charges due to unacceptable permitting delays in Ontario, the Company decided to move to Lemoine.

A drill program totaling 4,300 metres in 7 holes is planned for Lemoine to test targets at both the Lemoine mine horizon and a second newly recognized horizon lower in the volcanic stratigraphy. Included in these targets is a prominent "build-up off-hole" anomaly detected about 600 metres north of the mine in 2007 in hole LEM-59, drilled near the contact between the Lac Dore Complex (LDC) and volcanic rock Waconichi Formation. According to Cogitore's President Dr. Gerald Riverin "the off-hole build-up warrants first priority follow-up as the conductor may actually be located at the base of, and within the Waconichi (as opposed to being related to veins within the LDC). While the Chibougamau Camp is known for its copper/gold veins, volcanogenic massive sulphide deposits like Lemoine are less well-known. Lemoine was second only to the Eskay Creek mine in B.C. in terms of precious metal grades in association with copper and zinc."

Hole LEM-59 needs to be deepened and further borehole PEM is required to accurately position the conductor before testing it with a follow-up hole. Other holes are planned to further explore the Lemoine horizon at depth immediately to the west of the old mine and also in a sector located four km east of the mine where synvolcanic faults have recently been interpreted.

"We are disappointed at the delays encountered in Ontario" relates Dr. Riverin, "but Cogitore is fortunate that it has a pipeline of first-rate projects and flexible drilling contractors, which enable the Company to adapt to changing circumstances."

Work is carried out by the personnel of Cogitore Resources Inc., under the supervision of Gerald 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.

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, and in the Central Belt of Newfoundland.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cogitore Resources Inc.
    Gerald Riverin
    President & CEO
    Cogitore Resources Inc.
    Louis Morin
    Director Investor Relations