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Highlights:
- 105 metre interval of stringer-type sulphide mineralization in drill
hole SC-15 including a 24.8 metre section assaying 1.10% copper,
2.24% zinc, 0.20g/t gold and 35.7g/t silver;
- Overlying massive sulphides returned 0.99% copper, 5.56% zinc,
0.27 g/t gold and 33.3 g/t silver over 1.1 metres, which expands the
inferred massive sulphide portion of the Central Lens by 100 metres
in a westerly direction;
- The massive sulphides in hole SC-15 mark a second stratigraphic
horizon distinct from massive sulphides in the Selco deposit and new
lens discovered by Cogitore in 2006;
- Borehole pulse EM in hole SC-15 indicate strong conductors above and
to the west of the hole. Drilling is in progress to test these
conductors;
- A second drill has been mobilized to the property;
- Cogitore now owns 100% of the Scott Lake Project.
TORONTO, June 6 /CNW/ - COGITORE Resources Inc. (the "Company") (WOO: TSX-V) is pleased to report encouraging results from its on-going drilling program at the Scott Lake project. Drilling intended to fully delineate the Central Lens was successful in expanding the presence of massive sulphides 100 metres to the west of the former drill-inferred boundary, and in significantly improving underlying stringer mineralization. Massive sulphides were intersected at the top of a rhyolite unit at a depth of 365.3m and returned 0.99% Cu, 5.56% Zn and 33.3 g/t Ag over 1.1 metres. Underlying the massive sulphides, strong stringer-type sulphide mineralization was cored over a 105 metre interval of altered rhyolite (please see attached longitudinal section, http://files.newswire.ca/512/scottlakejun07.jpg). Assay results over the 105 metre interval, which include numerous unsampled barren dykes, are shown below:
ASSAY RESULTS - DDH SC-15
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Length
from to (m.) %Cu %Zn Au (g/t) Ag (g/t)
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365.30 366.40 1.10 0.99 5.56 0.27 33.3
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366.40 377.20 10.80 0.54 0.77 0.14 27.0
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377.20 377.80 not sampled - low values
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377.80 380.40 2.60 0.39 0.73 0.11 13.0
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380.40 386.80 not sampled - low values
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386.80 389.80 3.00 0.44 1.50 0.15 12.2
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389.80 392.00 not sampled - low values
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392.00 395.60 3.60 0.94 2.73 0.12 24.3
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395.60 395.90 not sampled - low values
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395.90 398.30 2.40 0.54 0.79 0.16 12.8
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398.30 398.90 not sampled - low values
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398.90 404.00 5.10 0.33 0.82 0.05 9.4
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404.00 417.35 not sampled - low values
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417.35 422.10 4.75 0.50 3.18 0.17 18.0
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422.10 424.50 not sampled - low values
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424.50 428.00 3.50 0.31 0.04 0.07 6.1
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428.00 430.00 not sampled - low values
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430.00 432.70 2.70 0.41 0.95 0.11 11.2
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432.70 436.30 not sampled - low values
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436.30 437.60 1.30 0.18 0.23 0.04 4.8
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437.60 439.90 not sampled - low values
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439.90 442.20 2.30 0.25 0.09 0.05 6.5
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442.20 444.50 not sampled - low values
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444.50 445.50 1.00 0.46 0.16 0.09 12.4
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445.50 470.30 24.80 1.10 2.24 0.20 35.7
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Including
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448.20 449.00 0.80 0.34 13.35 0.02 11.0
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And
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455.50 456.50 1.00 5.19 2.35 0.06 69.0
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The 24.8 metre interval grading over 1.1% copper, 2.2% zinc and 35.7 g/t silver is significant in light of today's metal prices and represents a substantial accumulation of base and precious metals. It is also significant that the massive sulphide horizon intersected on top of the 105 metre thick stringer zone is at a stratigraphic horizon clearly distinct from the one hosting the Selco-Scott deposit and the new lens discovered by Cogitore in 2006. This confirms massive sulphide potential on more than one horizon at the Scott Lake project. Borehole PEM was done in SC-15 and indicated strong conductors above and to the west of the hole. Drilling is in progress to evaluate these conductors.
The company is also pleased to announce that it has satisfied all of its obligations under its purchase agreement with Thundermin Resources Inc. The Company now fully owns a 100% interest in the Scott Lake project, subject only to provisional payments upon attaining production.
Finally, a second drill rig has mobilized to the property on June 4 and has started drilling. A drill program of about 8,000 metres is planned at Scott Lake with the following objectives: to delineate the 2006 Cogitore discovery, to further test the Central and West lenses, and to test a series of new targets identified along the 18 kilometre long property. The Company will provide regular updates as drill results are obtained.
Core is logged and sections sent for analysis are sawn in half at the Company's secure facilities in Chibougamau, Quebec. Half the core sampled is sent to ALS Chemex in Val d'Or, Quebec, for analysis with appropriate standards, duplicates and replicates used for control purposes. The other half of the core is retained for future reference.
The Company has developed a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it focuses its work in the Abitibi Belt of Quebec and Ontario, and in the Central Belt of Newfoundland. The company maintains annual drilling contracts and is adequately funded to drill year-round.
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The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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%SEDAR: 00020132E