Cogitore Resources Inc.
TSX VENTURE : WOO

Cogitore Resources Inc.

April 27, 2009 15:12 ET

CORRECTION FROM SOURCE/Cogitore Resources Inc.: High Grade Massive Sulphide Hits Conclude Winter Drilling Program on Caribou Project

TORONTO, ONTARIO--(Marketwire - April 27, 2009) - A correction from source is being issued with respect to the release sent out this morning at 11:45 AM. The data in the second table was incorrect. The corrected version follows.

COGITORE Resources Inc. (the "Company") (TSX VENTURE:WOO) is pleased to report the discovery of additional copper and zinc-rich volcanogenic massive sulphides (VMS) on its Caribou Project located 95 kilometres southwest of Matagami, PQ, and which is under option from IAMGOLD Corporation(i). Five of the Company's holes in this drill program intersected massive sulphides. The high copper grades in holes CAR-02, 04, 06, 07 and 09 are the first copper enriched massive sulphide 'hits' along the Estrades mine horizon, indicating proximity to an ancient area of 'black smoker' vents. The new deposit is located 3.7 kilometres west of the Company's past producing zinc-rich Estrades VMS mine and 24 km east of the Casa Berardi Mine (Figure 1: http://media3.marketwire.com/docs/Figure1_April27PR.pdf).

The three new massive sulphide mineralized intercepts assayed as follows:

- Drill hole CAR-06 returned 2.4% copper, 11.0% zinc, 0.5 g/t Au and 58.2 g/t silver over 1.5 metres.

- Drill hole CAR-07 returned 3.8% copper, 6.0% zinc, 1.7 g/t gold and 52.2 g/t silver over 2.3 metres.

- Hole CAR-09 appears to have cored a short interval (block) of massive sulphide caught up in fault and mineralized quartz vein material. The short (0.28 metre) interval returned 1.7% copper, 6.1% zinc, 1.2g/t gold and 59g/t silver, suggesting that the sulphide block is part of the same massive sulphide sheet as intersected in other holes.

Additional assay details on the above and on hole CAR-08 are shown below:



ASSAY RESULTS - DDH CAR-06

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From To Length Cu Zn Au Ag
(m) (m) (m) % % g/t g/t Remarks
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621.76 622.10 0.34 1.61 8.51 0.18 43.0 massive sulphides
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622.10 622.50 0.40 5.06 12.95 1.10 98.0 massive sulphides
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622.5 622.75 0.25 2.11 5.07 0.06 34.0 massive sulphides
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622.75 623.26 0.51 0.90 13.95 0.45 49.0 massive sulphides
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621.76 623.26 1.50 2.37 10.97 0.50 58.2 weighted average
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ASSAY RESULTS - DDH CAR-07

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From To Length Cu Zn Au Ag
(m) (m) (m) % % g/t g/t Remarks
---------------------------------------------------------------------------
643.72 644.72 1.00 2.55 7.36 2.78 45.2 massive sulphides
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644.72 645.64 0.92 5.12 6.73 0.92 67.2 massive sulphides
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645.64 646.06 0.42 4.11 1.11 0.77 36.1 massive sulphides
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643.72 646.06 2.34 3.84 5.99 1.69 52.2 weighted average
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ASSAY RESULTS - DDH CAR-08

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From To Length Cu Zn Au Ag
(m) (m) (m) % % g/t g/t Remarks
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204.15 205.15 1.00 0.02 1.38 0.27 12.4 Bedded tuff +
sulphides
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205.15 206.30 1.15 0.07 2.04 0.61 21.1 Bedded tuff +
sulphides
---------------------------------------------------------------------------
---------------------------------------------------------------------------
204.15 206.30 2.15 0.05 1.73 0.45 17.1 weighted average
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ASSAY RESULTS - DDH CAR-09

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From To Length Cu Zn Au Ag
(m) (m) (m) % % g/t g/t Remarks
---------------------------------------------------------------------------
384.71 385.00 0.29 0.74 2.13 0.18 16.7 Quartz vein +
sulphides
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385.00 385.28 0.28 1.75 6.12 1.23 58.8 Massive sulphides
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385.28 385.85 0.57 1.91 0.21 2.76 31.3 Quartz vein +
sulphides
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385.85 386.55 0.70 0.13 0.02 0.05 1.3 Quartz vein +
sulphides
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386.55 387.37 0.82 1.41 0.87 0.62 6.0 Quartz vein +
sulphides
---------------------------------------------------------------------------
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384.71 387.37 2.66 1.14 1.19 0.94 16.9 weighted average
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All massive sulphide intersections occur at vertical depths of 325 to 555 metres (Figure 2: http://media3.marketwire.com/docs/Figure2_April27PR.pdf). Core angles and bedding in all holes range from 55 to 65 degrees indicating true width is approximately 83-90 % of the core length. Hole CAR-08 did not intersect massive sulphides but hit bedded cherty tuffs with banded sulphides. The appearance and highly anomalous metal values in these tuffs is reminiscent of the so-called "key tuffite" unit hosting the massive sulphide deposits of the Matagami mining camp. Hole CAR-05 did not intersect massive sulphides but a borehole PEM survey suggested that it passed close and sub-parallel to a conductive (sulphide) zone, indicating a structural disturbance along the sulphide horizon.

Down-the-hole geophysical surveys in drill holes CAR-04, 05, 07 and 09 all suggested a broad conductor down and to the east. The down hole geophysical response in hole CAR-06 suggested additional (conductive) sulphides extend vertically below the hole. The geophysical responses are corroborated by metal zoning ratios (e.g. ratios of copper over zinc) and grade-thickness contours.

Looking Forward

Due to wet field conditions drilling is unlikely to resume at Caribou until Q1 2010, which will allow ample time to re-assess all geotechnical data and undertake additional surface geophysical work, particularly over the 12 kilometres of strike length to the west (Figure 1: http://media3.marketwire.com/docs/Figure1_April27PR.pdf). It is significant to note that at Caribou, the strongest geophysical anomalies have not necessarily been associated with the best mineralization. Indeed, previous drilling by Newmont and IAMGOLD, as well as the Company's drill holes CAR-01 and CAR-03, targeted strong previously untested geophysical anomalies located well away from the CAR-02 discovery area. CAR-01 and CAR-03 only intersected conductive, but barren iron sulphides and/or graphite. However, drill hole CAR-02, the discovery hole, tested a weaker geophysical anomaly as it was a geophysical response associated with anomalous quantities of the exact suite of metals sought (copper, zinc, gold and silver) in Newmont drill hole #265-86-7, (see Figure 2: http://media3.marketwire.com/docs/Figure2_April27PR.pdf). The Company will continue assessing any un-drilled weak second and third order geophysical anomalies along strike of the CAR-02 discovery.

Follow-up exploration will entail: 1) drilling more closely spaced holes to enable a NI 43-101 compliant resource estimate to be made of the discovery area and 2) evaluating weaker geophysical anomalies to the west, which are favourably situated with respect to known volcanic host rocks.

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 32 years of experience in mineral exploration.

The drill core from holes CAR-06, 07, 08 and 09 was logged and marked up for assay at the Company's secure facility in Normetal, PQ. Drill core for assay was split in half. Half of the core was shipped in sample bags to the ALS Chemex laboratory in Val d'Or, PQ for specific gravity measurement and sample preparation. Pulps were flown to Vancouver, B.C. for analysis with appropriate standards, duplicates and replicates used for quality control purposes. The other half of the core is retained for future reference.

Cogitore explores for VMS-type deposits in areas where such deposits have been found and mined before. Exploring in such areas is preferred because of existing infrastructure, knowledgeable local workforces and broad public support for mining. Collectively, these are major competitive advantages for logistics and economics.

(i) Cogitore has a right to earn a 70% interest on IAMGOLD's approximate 87% interest in the property by spending 2 million dollars by 2012. Cogitore's interest in the portion of the Caribou Option where it is currently drilling is also subject to a 50% participating interest by Inmet

Mining Corporation. Inmet's participating interest will decline throughout 2009 as they have declined to participate in the 2009 program.

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
    819-764-6666
    or
    Cogitore Resources Inc.
    Louis Morin
    Director Investor Relations
    514-591-3988
    www.cogitore.com