MONTREAL, QUEBEC--(Marketwire - Dec. 3, 2012) - Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X) announces that it has signed a contract to initiate up to 2,000-meter of diamond drilling on the Minto and Duggan properties. The drilling is expected to start on Tuesday, December 4.
The drilling program at Minto will test the southern portion of the property in an area where a recent compilation has indicated strong similarities with the Minto gold deposit where previous drill holes have returned 65.7 m at 18.2 g/t Au (7.9 g/t cut at 31.1 g/t Au) in the upper body and 82.5 m at 13.3 g/t Au (11.0 g/t cut at 31.1 g/t Au) in the lower body (See press release of August 9, 2010). The Minto gold rich breccia lies in a N-S deformation corridor intersected by E-W structures. Identical structural and geophysical patterns south of the Minto breccia are targeted by this drill program.
On the Duggan property, the drilling program aims at extending the mineralized body along the 370m North Trending zone. The gold mineralization at Duggan is developed along a broad north trending zone of sub-parallel shears where drilling has intersected in the past 75.5 m at 1.52 g/t Au. (See press release of June 8, 2011).
This press release has been reviewed and approved by Mr. Michael White, M.Sc. P. Geo, the Qualified Person under National Instrument 43-101.
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.
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.