Business
Woodruff Capital Management Inc. Announces 2006 Exploration Program on Estrades Property
Woodruff Capital Management Inc. Announces 2006 Exploration Program on Estrades Property.
About this update from Copper Road Resources Inc
[{"type":"text","content":"\n\n\n\n\nTORONTO, Jan. 11 /CNW/ - COGITORE Resources, a division of Woodruff\nCapital Management Inc. (the \"Company\") (WOO: TSX-V) is pleased to announce\nthe commencement of its 2006 exploration program on the Newiska-Estrades\nproperty (\"the \"Property\"). This program includes drilling on both the 100%\nowned Estrades Mine Property (see Press Release: June 14, 2005) and on the\nNewiska-Estrades area that is subject to the Company's earn-in joint venture\nagreement with Inmet Mining.\nA drill rig has already mobilized to the property where the Company plans\nto drill seventeen holes totalling 8,500 metres. The drill program is intended\nto:\n\na) follow-up on encouraging mineralization discovered in 2005 (see Press\n Release of June 15, 2005)\nb) provide information on previously unexplored areas on the Property;\nc) test possible dip and strike extensions of the known deposit;\nd) test and/or validate the resource estimate and assay data prepared by\n previous operators.\n\nAccording to the Company's 43-101 Technical Report on the Estrades\nproperty, Jean-Pierre Cloutier, an independent Qualified Person (QP) as\ndefined under National Instrument 43-101, qualified as \"drill indicated\" a\n1992 resource estimate by Breakwater Resources of 271,415 tonnes at a grade of\n7.52 g/t Au, 214 g/t Ag, 0.88% Cu, 13.07% Zn and 1.34% Pb to a depth of 400\nmetres. Cloutier also qualified as \"inferred\" an additional resource\ncalculated by Wright Engineers Ltd. (1989) of 185,000 tonnes grading 3.26 g/t\nAu, 193 g/t Ag, 0.79% Cu, 9.22% Zn and 0.70% Pb from a depth of 400m to 600m\nin the Main Zone. In today's standards these estimates would not comply with\nCIM Definition Standards on Mineral Resources and Mineral reserves that were\nprepared by the CIM Standing Committee on Reserve Definitions and adopted by\nCIM Council, November 14, 2004. While Cloutier believes these numbers to be\nthe most accurate, the Company has not yet done the work necessary to verify\nthe classification of the resource or reserve, the Company is not treating\nthem as a NI 43-101 defined resource or reserve verified by a QP, and the\nhistorical estimates should not be relied upon. The Company's 43-101 report is\nposted on SEDAR.\nCogitore President GDerald Riverin, Ph.D., P. Geo. stated \"We are very\nexcited to be drilling on the Newiska-Estrades property. P...