Crowflight Minerals Inc.
TSX : CML

Crowflight Minerals Inc.

July 13, 2009 08:31 ET

Crowflight Intersects High Grade Nickel Off Surface Ramp at the Bucko Mine

TORONTO, ONTARIO--(Marketwire - July 13, 2009) - CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX:CML) today reported further assay results from its Phase 2 drilling program on the 1,000 foot underground level, as well as initial results from a program of exploratory drilling conducted from the surface ramp between the 450 foot and 500 foot levels of the Bucko Lake Nickel Mine (Bucko). Results from the Phase 2 infill drilling program confirm reserves identified on the 1,000 foot level slated for production later in July.

Results from the ramp drilling have defined a new high grade nickel mineralization that is accessible for extraction from current development on the 500 foot levels. Highlight intercepts from this zone include: 8.2 metres grading 5.24% nickel in hole BUD-120 and 12.0 metres grading 3.56% nickel in hole BUD-121. Table 1 provides a summary of the latest assay interval results. Please refer to the Company's press releases dated June 25, 2008, October 1, 2008, January 22, 2009, March 9, 2009 and June 1, 2009 for previously-announced assay results.

Crowflight's Vice President of Exploration, Greg Collins commented, "Grades returned from intersections from the surface ramp program are some of the highest values over minable widths encountered to date. We believe that the proximity of this material to infrastructure on the 450 foot and 500 foot levels is favourable for mining."

Currently the focus of production at Bucko remains on the development of high grade stopes located on the 1,000 foot level. Extraction of ore via the surface ramp from the 500 foot level, including material intersected to supplement production rates at Bucko in 2009, is planned to commence later this quarter.

To date in 2009, a total of 9,710 metres in 50 holes have been completed as part of the Phase 2 and ramp underground delineation and exploration programs. Additional results from the remaining Phase 2 holes and the 450 level ramp program are expected over the coming weeks.

Table 1. Bucko Underground Drilling Highlight Intersections

      Core Core  
Drill Hole From To Length Length Ni%
  (m) (m) (m) (feet) %
1000' L Phase          
2 Program          
 
BUD-101 130.03 135.67 5.64 18.50 1.55
 
BUD-102 128.18 133.45 5.27 17.29 1.31
BUD-102 236.84 241.37 4.53 14.86 1.30
 
BUD-103 186.27 202.86 16.59 54.43 1.66
incl. 197.66 202.86 5.20 17.06 3.23
 
BUD-104 165.21 178.71 13.50 44.29 1.42
incl. 166.71 175.71 9.00 29.53 1.76
BUD-104 187.93 196.47 8.54 28.02 3.53
 
BUD-105 186.91 197.00 10.09 33.10 1.87
 
BUD-106 160.23 185.19 24.96 81.89 1.44
incl. 161.50 169.90 8.40 27.56 2.25
incl. 181.31 185.19 3.88 12.73 1.82
BUD-106 189.00 192.54 3.54 11.61 1.92
 
BUD-107 150.00 155.32 5.32 17.45 1.22
BUD-107 160.44 166.20 5.76 18.90 1.79
 
BUD-108 225.46 249.90 24.44 80.18 1.65
incl. 232.84 249.90 17.06 55.97 2.02
 
BUD-109 173.36 183.36 10.00 32.81 1.15
BUD-109 193.57 203.00 9.43 30.94 1.13
BUD-109 236.31 245.38 9.07 29.76 1.13
 
BUD-110 216.00 239.57 23.57 77.33 1.52
incl. 220.53 236.04 15.51 50.89 2.04
 
BUD-111 177.50 186.25 8.75 28.71 1.70
BUD-111 217.13 222.78 5.65 18.54 1.61
BUD-112 214.45 217.47 3.02 9.91 1.91
 
BUD-113 186.58 190.00 3.42 11.22 1.40
BUD-113 192.14 195.70 3.56 11.68 1.82
BUD-113 207.00 218.96 11.96 39.24 2.10
 
BUD-114 183.32 188.07 4.75 15.58 1.72
 
BUD-116 208.00 212.62 4.62 15.16 1.01
 
450' Level          
Ramp          
Program          
 
BUD-119 79.00 81.00 2.00 6.56 1.60
 
BUD-120 53.00 61.20 8.20 26.90 5.24
incl. 57.19 61.20 4.01 13.16 8.42
 
BUD-121 64.00 76.00 12.00 39.37 3.56
 
BUD-122 55.70 64.92 9.22 30.25 2.33
incl. 57.70 61.96 4.26 13.98 2.77

Intersection intervals reported are core lengths; actual true widths range between 80% and 100% of core length.

Clarification Regarding TSX De-listing Review

The Company further announces that in connection with its recently announced equity financing and as a standard procedure relating to an application to use the financial distress exemption, the TSX is reviewing whether the Company satisfies continued listing requirements. Crowflight believes the de-listing review is a routine procedure when using this exemption. The Company believes that it currently complies with applicable TSX listing requirements and expects to continue to comply with such requirements following completion of the financing.

Qualified Person/Quality Control Procedures

This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo. (APGO/APEGM) and VP Exploration of Crowflight, a Qualified Person under the National Instrument 43-101 guidelines. All assays were performed at the ALS-Chemex laboratory in Vancouver and undergo an ICP-AES finish and Sodium Peroxide Fusion. Standards and blanks are submitted with each sample batch.

Crowflight Minerals – Canada's Newest Nickel Producer

Crowflight Minerals Inc. (TSX:CML) is a Canadian junior mining company that is producing nickel at the Bucko Lake Nickel Mine near Wabowden, Manitoba. The Company is also focused on nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.

Cautionary Note on Forward-Looking Information

This press release contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the Bucko's development potential and timetable; Crowflight's ability to raise additional required funds; the future price of nickel; the timing and amount of estimated future exploration and production; costs of future activities; success of exploration and production activities; government regulation of mining operations; and environmental risks. Generally, forward- looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Estimates regarding mineral resources and mineral reserves are based on extensive analysis regarding exploration information obtained for diverse sources, including drill results; such analysis being conducted by company geologists and verified by third party consultants. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Crowflight to be materially different from those expressed or implied by such forward-looking statements. Although management of Crowflight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Further information is available on the Company's website at www.crowflight.com

TSX Trading Symbol: CML
Total Shares Outstanding: 368.9MM
Fully Diluted: 450.3MM
52-Week Trading Range: C$0.09 - $0.47


To view Figure 1. Location of Recent Assay Results from Underground Drilling at Bucko please click on the link provided below:

http://media3.marketwire.com/docs/Figure_1_results0712.pdf

Contact Information

  • Crowflight Minerals
    Mike Kelly
    President & CEO
    (416) 861-2266

    or

    Crowflight Minerals
    Heather Colpitts
    Manager, Investor and Public Relations
    (416) 861-5803
    info@crowflight.com
    www.crowflight.com