Creso Exploration Inc.
TSX VENTURE : CXT
FRANKFURT : C3X
OTCQX : CRXEF

Creso Exploration Inc.

December 14, 2011 12:19 ET

Creso Announces 181.2 g/t Ag Over 28.75 Metres Intersection Including 978.5 g/t Ag Over 5.15 Metres Intercept in Additional Results From the Mann Property Drill Program

MONTREAL, QUEBEC--(Marketwire - Dec. 14, 2011) - Creso Exploration Inc. ("Creso" or the "Company")(TSX VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X) is pleased to announce the results from two diamond drill holes, MN11-02 and MN11-03, completed on the Mann property in Milner Township.

Highlights from the results reported here are the intervals 5130 g/t Ag over 0.65 m from 39.8 to 40.45 m and 978.5 g/t Ag over 5.15 m from 35.85 to 41.0 m in an intersection grading 181.2 g/t over 28.75 m from hole MN11-03. Also reported are two anomalous silver zones from hole MN11-02, giving 17.9 g/t over 6.5 m from 27.8 m to 34.3 m, including 141.0 g/t over 0.6 m from 47.8 m to 48.4 m and 14.3 g/t over 49.5 m from 95.0 m to 144.5 m.

These two holes follow on from the initial hole results from DDH MN11-01 (see Press Release dated December 1, 2011). The program is designed to confirm historic drill results and test the extensions of the D Zone beyond the known underground workings (see Press Releases dated September 1 and November 4, 2011).

DDH MN11-02 was designed to test the near-surface vein cluster in which historic hole 67-60 had intercepted 520 oz/ton over 2.9 ft (17,828.7 g/t over 0.88 m). It was set with an azimuth of 176 degrees. The results showed that although MN11-02 had intersected two zones containing anomalous silver, these intersections were of lower grade. Subsequently, it was concluded that another attempt to define the location of the historically reported zone should be made with an azimuth of 179 degrees, set for hole MN11-03. The silver results, shown in Table 1, gave higher grade intercepts in a silver mineralized zone from 21.25 m to 50.0 m.

Table 1. Silver Enriched Zones
Hole
Number
From
metres
To
metres
Length
metres
Grade
Ag (g/t)

Comment
MN11-03 21.25 50.0 28.75 181.2 anomalous silver zone
including 35.85 41.0 5.15 978.5
including 39.8 40.45 0.65 5130.0 intersection at historic drift level
MN11-02 27.8 34.3 6.5 17.9 anomalous silver zone
and 95.0 144.5 49.5 14.3
including 47.8 48.4 0.6 141.0 intersection below floor of historic drift

Drill hole number MN11-03 intersections include both silver- and cobalt-bearing vein systems; results for the cobalt intersection are shown in Table 2. The cobalt interval was intersected above the anomalous silver zone, in hole MN11-03.

Table 2. DDH MN11-03 Cobalt Intersection
Hole
Number
From
metres
To
metres
Length
metres
Grade
Co (%)

Comment
MN11-03 11.0 11.4 0.4 0.20 intersection of carbonate vein with black chlorite veinlets in diabase

All intervals in Tables 1 and 2 represent core lengths and not true widths.

A total of 5 drill holes have been completed in the Mann property program, for a total of 775 metres. Drill results from 2 holes are pending. They will be reported as they become available.

This Press Release has been reviewed and approved by Mr. Mike White, M.Sc., P.Geo., the Qualified Person under National Instrument 43-101.

Creso Exploration QA/QC procedures follow standard industry practices. Sealed core boxes are transported twice daily from the drill rig to the core logging facility by qualified drill contractor personnel. Core is logged and prepared for sampling in a secure building. Sample intervals are selected according to geologic contacts, visible mineralization, and alteration. Drill core is cut along a center line using a typical circular rock saw designed for core cutting. Sampled core is placed into sample bags, sealed and shipped to an assay lab that follows the ISO 9000 series of Quality Management standards. All samples were analyzed for silver, gold and other trace elements at ALS Group Ltd. laboratories by standard industry procedures. These procedures include silver and gold by fire assay-AAS finish, with follow-up silver and gold analyses by fire assay-gravimetric finish and/or metallic screen. Multi-element analysis is done by ICP (ME-ACD81) using a four-acid digestion. Whole rock analysis is done by ICP-AES (ME-ICP06) using a lithium metaborate fusion.

Blank and certified standard samples are routinely submitted with all sample batches sent to the lab for assay. In addition, replicates, duplicates, and field duplicates are routinely included in sample batches. Samples with visible gold are analyzed with procedures designed to reduce the variability of the sample results. And finally, samples are routinely sent to other labs for additional checks.

About Creso

The Corporation's principal mining exploration holdings are located in the Shining Tree mining camp of Northern Ontario within 100 km of the Timmins and Kirkland Lake mining camps, and additional interests are held in base metal properties in Guatemala.

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward- looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: results of exploration activities, general market and industry conditions, and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results and available financing, the Corporation may at any point modify its work program.

Neither 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

  • Pierre Gauthier, Chairman
    Director and Acting President and CEO
    (514) 866-6001 # 239
    (514) 866-6193 (FAX)
    info@creso.ca
    www.creso.ca

    Douglas Murray
    Investor Relations
    (613) 220-0569 / (613) 882-7295
    dmurray@creso.ca