Crazy Horse Resources Inc.
TSX VENTURE : CZH

Crazy Horse Resources Inc.

February 22, 2011 09:39 ET

Crazy Horse Averages 270m of 0.46% Cu, 0.25 gpt Au and 2.03 gpt Ag in Drill Hole CZT011

MANILA, PHILIPPINES--(Marketwire - Feb. 22, 2011) - Crazy Horse Resources Inc. (TSX VENTURE:CZH) -

HIGHLIGHTS:

  • 434 meters of 0.36% Cu, 0.14 gpt Au and 1.57 gpt Ag.
  • 270m of 0.46% Cu, 0.25 gpt Au and 2.03 gpt Ag.
  • Drilling continues with five diamond drill rigs.
  • Exploration drilling has commenced on proximal target.
  • Scoping Study report and NI43-101 Copper resource report on track for end of February 2011.

Crazy Horse Resources Inc. (the "Company") a Philippines based mineral exploration company, announces partial assays from the eleventh hole of the feasibility drill program on its Taysan copper-gold-silver porphyry project.

Hole CZT011 drilled 434 meters of 0.36% Cu, 0.14 gpt Au and 1.57 gpt Ag, including a higher grade near surface zone of 270m of 0.46% Cu, 0.25 g/t Au and 2.03 g/t Ag from 30m - 300m down hole. Results from the drilling program to date continue to support the Company's belief in the presence of a significant Copper-Gold-Silver deposit.

Johan Raadsma, President and CEO of Crazy Horse, states, "We are extremely excited about this very large interval of mineralisation with the addition of significant silver grades, which historically have not been incorporated into the project valuation. We also look forward to exploration results in the near future."

A Scoping Study report on the Taysan deposit is on track for completion in early March to be followed by a NI 43-101 compliant copper resource report.

A pre-feasibility and bankable feasibility study will commence on March 14, 2011 and is expected to take 18 months to complete. However this study is already ahead of schedule as in-fill drilling started in January using five diamond drill rigs, one of which is currently drilling a proximal target that could confirm an extension to the current Taysan project. The results from this exploration hole are anticipated in late March.

A summary of the results from hole CZT011 are as follows:

From To Interval Cu% Au gpt Ag gpt Cu% Cutoff
30 464 434 0.3572 0.140 1.57 0.1
30 300 270 0.4615 0.251 2.03 0.3
196 200 4 0.9025 0.470 3.50 0.7
222 234 12 0.7525 0.340 3.90 0.7
258 262 4 0.7700 0.160 4.50 0.7

QAQC

Drilling is being carried out by Quest Exploration Drilling (Philippines) Inc. using Edson 3000 and LF70 drill rigs and a triple tube diamond core drilling system. All holes are started in PQ (150-200m) then continued in HQ. All core is split using a diamond-bladed drill-core saw and always sampled from the (true) left side of the core. The remaining half of the core is sealed in plastic bags in a nitrogen atmosphere and stored in a covered, guarded core shed. Core samples are bagged in new polyethylene, UV stable plastic bags, sealed with a plastic tie, numbered outside and have a tag placed inside the bag. All samples are accompanied by Asian Arc personnel from site to the McPhar Laboratory under secure "Chain of Custody" procedures. Samples are crushed to 85% <2mm then 1kg is split out and pulverised in an LM2 Puck and Bowl Pulveriser to 90% <75um. Gold is assayed by Fire Assay (50g charge) with AAS finish (PM6). Cu, Ag, As, Pb, Zn, Mo, Al, Ca, Fe, K and S are assayed by 4 Acid Digest (HCl / HNO3 / HClO4 / HF) Ore grade analysis with ICP-AES finish (ICP-3). Sample rejects are returned from the McPhar Laboratory under secure "Chain of Custody" procedures by Asian Arc staff and also stored in the core shed in heat sealed plastic bags in a nitrogen atmosphere. McPhar Geoservices (Phil), Inc. is ISO 17025:2005 accredited and is a member of the International Intertek Laboratory Group.

Taysan Project

A copy of the National Instrument 43-101 ("NI 43-101") report by R.Sowerby, of Geosynthesis Pty Ltd. entitled "A Technical Review of Exploration and Resource Estimates of the Taysan Project, Batangas Province, Philippines", in collaboration with Mining Associates Inc. of Australia can viewed under the Company's profile on SEDAR (www.sedar.com).

The Taysan project contains a drill defined copper-gold porphyry deposit, and is comprised of two mining exploration permits and three mining exploration permit applications (permits: EP-IVA-005 and EP-IVA-016, and permit applications: EPA-IVI-108, EPA-IVI-111 and EPA-IVA-081) over five contiguous claim blocks covering a combined total area of 11,254 hectares. The Project hosts a large and only partly explored copper-gold porphyry deposit similar to other copper-gold porphyry deposits previously mined in the Philippines. The Taysan project is located in southern Luzon, Philippines in a well-developed mining province and readily accessible by road located 20km east of the provincial capital and deep-water commercial port of Batangas City.

Brian Lueck, Chairman of the Company, is the qualified person who has reviewed the geological data summarized in this news release on behalf of the Company.

ON BEHALF OF THE BOARD

Johan Raadsma, President, CEO and Secretary

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Crazy Horse Resources Inc. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Crazy Horse Resources Inc. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

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.

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