Cream Minerals Ltd.
OTC Bulletin Board : CRMXF

Cream Minerals Ltd.

March 03, 2008 08:30 ET

Cream Minerals Completes Topographic Survey and Prepares Cerro Chacuaco Zone for Next Phase of Diamond Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2008) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) ("Cream" or the "Company") is pleased to announce that on its 100% owned Nuevo Milenio Project, located 20 km from Tepic, Nayarit State, Mexico, a topographic survey, commissioned in November 2007, has been completed. The survey covered the Dos Hornos - Veta Tomas -Once Bocas areas, encompassing 4 km2. The object of this survey was to obtain accurate topographic control to help in the planning and execution of Phase 1 underground exploration program recommended in the new NI 43-101 compliant report dated January 30, 2008 by F. Holcapek, P.Eng.

This new report shows a tripling of the inferred silver resources at Dos Hornos - Veta Tomas, and presents details of the geological setting of the mineralized zone. It also recommends an 8000 m follow-up diamond drill program for the Cerro Chacuaco and Once Bocas mineral zones.

Cerro Chacuaco Prepares for Next Major Phase of Diamond Drilling

Cerro Chacuaco is a zone of silicification, quartz stock work and quartz veining with a known strike length of +900 m and an indicated width of 150 m to 250 m with significant silver-gold mineralization. It lies approximately 1,200 m SW and sub parallel to the Dos Hornos zone (See NI 43 - 101 Report Dated January 30, 2007 by F. Holcapek, P.Eng.). Across these widths, surface rock chip samples, each representing an area of 3 m by 3 m, were taken at 25m to 30 m intervals. See table and attached sketch:

Sample # m ft Au g/t Ag g/t
34184-90 210 689 0.240 70.33
34179-80 34202-07 150 492 0.917 112.55

Also, within this 250 m wide anomalous zone, four quartz - breccia - stock work zones up to 20 m wide have been located. Three of these zones, Mina Nanche, Mina Perdida and Mina Cerro Chacuaco, were explored during colonial times.

Fieldwork is presently being concentrated on Cerro Chacuaco and Arroyo Chacuaco and consists of surveying and layout of drill sites and roads in preparation for diamond drilling.

The Veta Nanche Zone, trends N45W/60SW. Trenching, shafts and narrow adits are spread over a 150 m strike length but the extent of this mineralized zone is not yet known. An old inclined shaft was found sunk along a fault - quartz breccia zone. Previously reported assays are:

Sample # Mina Nanche workings caved, surface samples M Au g/t Ag g/t
198454 Shaft, oxidized, brecciated, Tuff, qtz vein
0.20 m 0.95 1.820 698.00
199428 Shaft, qtz vein in brecciated lithic tuff 0.65 3.320 574.00
199429 Shaft, kaolinized oxidized lithic tuff, qtz
vein. 1.30 0.450 156.00
199430 Shaft, fragmental, brecciated qtz vein 1.10 0.220 56.00
199431 Mina Nanche, Sublevel, oxidized, fragmental
qtz vein 1.20 0.250 38.00
199432 Shaft, fault, oxidized lithic tuff 0.50 0.200 125.00
199433 Shaft, fault, oxidized lithic tuff 0.70 0.040 30.00
Average all above 0.92 0.803 223.39

Rock Sample (Grab) from Nanche Drill Road

ACME & CHEMEX Average Assay Grab 3.83 1,396.00

The Mina La Perdida Zone was explored historically by trenches, narrow adits and shafts (Perdida 1, 2, 3). These old Spanish workings are in general less than 1.30 m wide exposing fault-breccia, gouge and intense oxidation. The presence of abundant blocks and fragments of quartz along the SE flank of Cerro Chacuaco and the outcropping of a quartz vein structure at the junction of Arroyo Cafetal and Arroyo San Miguel, delineate the projection of the Perdida structure. The following previously reported assays were taken at Perdida 2:

Sample # Description M Ft Au g/t Ag g/t
199525 Shaft, white, massive quartz. silicified
tuff 1.85 6.07 0.590 167.00
199526 Siliceous, Breccia, tuff quartz stockwork 1.07 3.51 1.560 934.00
199527 Shaft, massive quartz, 1 m 1.35 4.43 0.300 133.00
199528 Shaft, massive and porous quartz,
limonite 1.30 4.26 0.160 108.00
199529 Shaft, massive quartz 0.5 m,+ stockwork 1.60 5.25 0.210 125.00
B104013 silicified tuff, very oxidized, quartz
veins 2.00 6.56 0.210 143.00
Weighted average all samples 0.450 230.56

Recent work has traced the Mina Chacuaco zone for 500 m further south to an area of basalt flows. Shortly before the basalt contact an exposure of silicified, feldspathic tuffs and quartz stockwork forms a cliff. In the lower part of the cliff is a possibly caved, old Spanish adit, which needs cleaning to clarify the setting. Below are assays from Mina Chacuaco (previously reported):

Description Sample # M Ft Au g/t Ag g/t
Upper Level 104004 - 05, 660947 - 48 8.00 26.24 0.489 111.00
Internal Decline 660945 - 46 4.00 13.12 0.560 155.00
Lower Level 104007 - 09, 660944 8.00 26.24 0.835 174.38

Mr. Holcapek, P. Eng Geology, supervises exploration programs on the Nuevo Milenio Project and is the Company's "Qualified Person" for the purpose of NI 43-101.

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Cautionary Language and Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings that are available at or the Company's website at

U.S. 20-F Registration: 000-29870

To view the accompanying map, please visit the following link:

TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release. Management has prepared this release and no regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Cream Minerals Ltd.
    Frank A. Lang, BA, MA, P.Eng.
    President and CEO
    (604) 687-4622
    (604) 687-4212 (FAX)
    Cream Minerals Ltd.
    Robert Paul
    Investor Relations
    (604) 687-4622
    (604) 687-4212 (FAX)
    CHF Investor Relations
    (416) 868-1079, Ext. 229