Crazy Horse Resources, Inc. (CRZHF: OTC Link) | Crazy Horse drills 164m of 0.36% Copper, 0.09 grams gold and 1.14 grams silver at Taysan Copper-Gold Project

Crazy Horse drills 164m of 0.36% Copper, 0.09 grams gold and 1.14 grams silver at Taysan Copper-Gold Project

Aug 04, 2011

OTC Disclosure News Service

Manila, Philippines –

HIGHLIGHTS:

·           CZT029 intersects 324.5m of 0.27% Cu, 0.04 g/t Au and 0.94 g/t Ag from 23.5m to 348m

·           CZT037intersects 144m of 0.34% Cu, 0.10 g/t Au and 1.44 g/t Ag from 142m to 286m

·           CZT042 intersects 541.4m of 0.24% Cu, 0.08 g/t Au and 0.78 g/t Ag from 36m to577.4m including 164 m of 0.36% Cu, 0.09 g/t  Au, 1.14 g/t Ag from 286 to 450m

·           The deposit remains open and drilling continues with six diamond drill rigs.

Crazy Horse Resources Inc. (TSXV: CZH) )(OTCQX: CRZHF) (the “Company”) a Philippines based mineral exploration company, announces assays from the 29th to the 44th drill holes of the feasibility drilling program on its Taysan copper-gold porphyry project.

Robert Pease, Chairman of Crazy Horse states,“The on-going positive results further substantiate the Taysan deposit as are liable, predictable and growing deposit.  A very low waste to ore ratio and proximity both to port and to end-users, gives this low-grade deposit a significant competitive advantage for low cost copper production”.

Highlights of Drill Results

On section 19160N, drill hole CZT042 (intersecting 541.4m of 0.24% Cu, 0.08 g/t Au and 0.78 g/t Ag from 36mto 577.4m, including 164m of 0.36% Cu, 0.09 g/t Au, 1.14 g/t Ag from 286 to 450m) confirms the deeper continuation (from 252m – 398m) of the “Taysan Breccia”, a magmatic hydrothermal breccia unit occurring at the top of mineralised diorite porphyry intrusives. Taysan Breccia usually occurs in close proximity to quartz magnetite veining and the two styles probably form a continuum of potassic alteration.

On section 19200N, drill hole CZT029 (intersecting 324.5m of 0.27% Cu, 0.04 g/t Au and 0.94 g/t Ag from23.5m to 348m) is a deep drill hole to the base of the 24 year pit design. CZT029 confirms the existence of copper mineralization from the base of tuff (20m thick) to 612m which corresponds with the known extent of copper mineralization below the 24 year pit design.

On section 19520N, drill hole CZT037 (144m of 0.34% Cu, 0.10 g/t Au and 1.44 g/t Ag from 142m to 286m) intersected Taysan Breccia and the associated quartz magnetite and sulphide veins containing  highergrade copper and gold mineralization. This drill hole is mineralised to the end of hole where 21m of 0.28% Cu, 0.11 g/t Au, 0.73 g/t Ag and 29 ppm Mo was encountered from 376 to 397m, which corresponds well with assays from drillhole CZT001.

A summary of the results from holes CZT029 to CZT044 is as follows:

 

Drill Hole No

From

To

Interval

Cu

Au

Ag

Mo

Cutoff

(%)

(g/t)

(g/t)

(g/t)

Cu (%)

 

CZT029

23.50

348.00

324.50

0.28

0.05

0.98

50

0.1

including

CZT029

92.00

106.00

14.00

0.44

0.09

0.83

403

0.3

and incl

CZT029

94.00

96.00

2.00

0.72

0.12

0.90

2054

0.7

including

CZT029

126.00

152.00

26.00

0.40

0.05

1.84

72

0.3

including

CZT029

188.00

194.00

6.00

0.34

0.02

1.00

36

0.3

including

CZT029

214.00

242.00

28.00

0.33

0.03

1.11

23

0.3

including

CZT029

252.00

296.00

44.00

0.32

0.03

0.89

22

0.3

including

CZT029

316.00

322.00

6.00

0.40

0.10

1.90

11

0.3

 

CZT029

364.00

612.00

248.00

0.24

0.08

0.56

28

0.1

including

CZT029

368.00

420.00

52.00

0.37

0.13

1.07

23

0.3

andincl

CZT029

382.00

384.00

2.00

0.93

0.043

1.9

22

0.7

 

CZT029

460.00

466.00

6.00

0.32

0.10

0.57

82

0.3

 

CZT030

72.00

232.00

160.00

0.20

0.08

0.77

33

0.1

including

CZT030

174.00

180.00

6.00

0.33

0.13

1.07

17

0.3

including

CZT030

194.00

200.00

6.00

0.33

0.12

1.23

47

0.3

 

CZT031

36.00

52.00

16.00

0.15

0.07

0.70

8

0.1

 

CZT031

74.00

125.00

51.00

0.13

0.07

0.39

31

0.1

 

CZT032

48.00

92.00

44.00

0.19

0.01

1.19

19

0.1

 

CZT032

172.00

310.00

138.00

0.24

0.09

1.08

30

0.1

including

CZT032

230.00

238.00

8.00

0.37

0.23

1.78

17

0.3

including

CZT032

280.00

294.00

14.00

0.35

0.17

0.96

44

0.3

 

CZT033

58.00

88.00

30.00

0.13

0.05

0.64

18

0.1

 

CZT033

98.00

282.50

184.50

0.22

0.14

0.41

41

0.1

including

CZT033

230.00

264.00

34.00

0.35

0.22

0.55

30

0.3

 

CZT034

56.00

72.00

16.00

0.11

0.03

0.35

11

0.1

 

CZT034

116.00

201.00

85.00

0.17

0.07

0.48

145

0.1

 

CZT035

130.00

138.00

8.00

0.12

0.06

0.28

60

0.1

 

CZT036

60.00

138.00

78.00

0.14

0.06

0.50

30

0.1

 

CZT036

166.00

172.00

6.00

0.11

0.04

0.13

40

0.1

 

CZT037

31.20

39.00

7.80

0.26

0.05

0.05

11

0.1

 

CZT037

66.00

74.00

8.00

0.19

0.03

0.15

53

0.1

 

CZT037

142.00

286.00

144.00

0.34

0.10

1.44

7

0.1

including

CZT037

154.00

216.00

62.00

0.38

0.16

1.49

7

0.3

including

CZT037

240.00

270.00

30.00

0.47

0.03

2.38

9

0.3

and incl

CZT037

258.00

264.00

6.00

0.84

0.02

3.82

3

0.7

 

CZT037

316.00

340.00

24.00

0.15

0.06

0.56

24

0.1

 

CZT037

352.00

397.00

45.00

0.19

0.08

0.52

35

0.1

 

CZT039

64.40

246.00

181.60

0.18

0.04

0.92

25

0.1

including

CZT039

200.00

210.00

10.00

0.54

0.12

0.76

19

0.3

and incl

CZT039

208.00

210.00

2.00

1.46

0.06

0.3

20

0.7

 

CZT040

19.70

44.00

24.30

0.25

0.10

0.34

2

0.1

including

CZT040

19.70

28.40

8.70

0.37

0.14

0.41

0

0.3

 

CZT040

72.00

190.00

118.00

0.17

0.05

0.67

27

0.1

 

CZT040

202.00

212.00

10.00

0.23

0.03

0.75

140

0.1

 

CZT040

220.00

261.10

41.10

0.19

0.04

0.55

70

0.1

 

CZT041

50.00

214.00

164.00

0.15

0.06

0.68

21

0.1

 

CZT041

222.00

364.00

142.00

0.20

0.06

0.55

11

0.1

including

CZT041

340.00

348.00

8.00

0.36

0.14

1.13

13

0.3

 

CZT042

36.00

577.40

541.40

0.24

0.08

0.78

25

0.1

including

CZT042

286.00

450.00

164.00

0.36

0.09

1.14

41

0.3

including

CZT042

488.00

520.00

32.00

0.37

0.15

0.93

20

0.3

 

CZT043

66.20

208.00

141.80

0.18

0.09

0.63

49

0.1

 

CZT044

53.60

112.00

58.40

0.15

0.08

0.71

68

0.1

 

CZT044

120.00

356.00

236.00

0.19

0.10

0.62

24

0.1

including

CZT044

334.00

336.00

2.00

1.21

0.71

3.2

13

0.7

including

CZT044

346.00

352.00

6.00

0.36

0.37

1.23

2

0.3

Summary of Drilling Results

On section 19760N drill hole CZT040 confirms the copper mineralization reported in the nearby Benguet and Freeport drill holes.

On section 18800N drill holes CZT031 extends the known copper mineralization up to the base of the tuff (43m thick) and CZT035 shows a zone of waste in the south east corner of the proposed open pit. 

On section 18860N drill holes CZT034 and CZT036 continue to confirm the existence of flat lying layered copper mineralization and waste zones and help with their definition.  CZT034 bottomed in copper mineralization beneath the 10 year pit boundary confirming previously reported grades in nearby BT054.

On section 18920N drill holes CZT033 and CZT043  confirm continuous copper mineralization from the base of the tuff (45m thick) to the end of the hole below the 10 year pit boundary.

On section 18980N drill hole CZT044 confirms continuous copper mineralization from the base of the tuff (40m thick) to the end of the hole, below the 10 year pit boundary.  CZT030 also shows strong intersections of copper mineralization from the base of the tuff and helpsdefine the contact of the intrusive with volcanogenic sediments, or country rock, where copper grades are generally below ore grade.

On section 19040N drill hole CZT039 confirms continuous copper mineralization from the base of the tuff (40m thick) to the end of the hole, below the 10 year pit boundary.  CZT039 was a twin of CZT024 which encountered a large faulted zone at the margin of the intrusive andfailed to get acceptable core recovery. CZT039 achieved acceptable core recovery.

On section 19100N drill hole CZT032 confirms near surface copper mineralization, and the existence of an internal waste zone known from othersections. It also intersected a deeper copper mineralized zone from 172m – 310m, which was also noted in drill holes CZT022 and CZT027, also on that section.  Drill hole CZT032 also confirms the contact between intrusive rock and the volcanogenic sediments, occurring at a depth of  372m.

Sampling Protocols

Drilling iscarried out by Quest Exploration Drilling (Philippines) Inc. using Edson 3000and 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 (50gcharge) with AAS finish (PM6).  Cu, As, Mo, Fe and S are assayed by ore grade analysis, 3 Acid (HCl / HNO3 / HClO4) Digest with ICP-AES finish (ICP-2). Ag is analysed by ore grade analysis (HNO3 / HClO4) digest with AAS finish(2A1/AAS). Sample rejects are returned from the McPhar Laboratory under secure “Chain of Custody” procedures by Asian Arc staff and also stored in the coreshed 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 National Instrument 43-101 compliant technical report by Mining Associates dated effective March 11, 2011 and entitled “Mineral Resource Estimate and Preliminary Economic Assessment Taysan Project” can be viewed under the Company’s profile on SEDAR (www.sedar.com).

The Taysan Project contains acopper-goldporphyry deposit with an inferred resource, 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 Taysan Project hosts a large and only partly explored copper-gold porphyry deposit similar toother 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 accessibleby road located 20km east of the provincial capital and deep water commercial port of Batangas City. The Company is currently conducting a Feasibility Study under the management of AMEC Minproc Limited, which remains on track and on schedule.

Brian Lueck, Director and V.P. Exploration of the Company, is the qualified personwho has reviewed the geological data summarized in this news release on behalf of the Company. 

ON BEHALF OF THE BOARD

“Johan Raadsma”

Johan Raadsma

President, CEO and Secretary 

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.

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. Noforward-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.

 

For further information please contact:

Investor Relations

KIN Communications Inc.

Ir@kincommunications.com

Tel: 1-866-684-6730

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/CRZHF/news?id=33860

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