Business
Crestview Exploration - Cimarron Gold Prospect Phase 1 Drilling Update
Calgary, Alberta--(Newsfile Corp. - June 3, 2021) - Crestview Exploration Inc. (CSE: CRS) (FSE: CE7) ("Crestview" or "the Company") is pleased to announce the c
About this update from Gold Runner Exploration Inc.
[{"type":"text","content":" Calgary, Alberta--(Newsfile Corp. - June 3, 2021) - Crestview Exploration Inc. (CSE: CRS) (FSE: CE7) (\"Crestview\" or \"the Company\") is pleased to announce the completion of 1,684 feet of the 4,500 feet budgeted for the phase 1 drill program at the Cimarron gold prospect (\"Cimarron\" or the \"Property\"; see Map 1 below). Three core drill holes have been completed, and we are now moving to the fourth. In addition to the drilling, the company has started evaluating the extension claims at Cimarron. While still early in the process, encouraging sinter float has been observed and sampled on the extension claims both north and south of the core claims. For additional details on the Cimarron property, the reader is referred to previous news releases. MAP 1: Cimarron Project Area The Cimarron phase 1 drilling was designed to validate the historic drilling while simultaneously testing the expansion potential at depth. The phase 1 drill program allotted a 4,500' total footage budget spread between five to nine drill holes drilled between 400' and 1,000' depending on alteration and mineralization. As a reminder to the reader, the Cimarron property was acquired with a large dataset of gold assays for approximately 190 drill holes that date back to the 1980's. The historic drilling was quite shallow, with the average depth of drill holes less than 200'. The historic dataset includes many intervals of greater than 0.1 opt Au, and a number of the holes were terminated in economic grade. This data set was used to estimate an approximately 50,000-ounce gold resource which was never reported in a 43-101 as the data predates the practice (reference is to an internal mining report by Peter Hahn to Budge Mining Ltd. dated February 17, 1987). The gold mineralization at Cimarron is hosted in a stacked volcanic rock sequence (rhyodacite, pyroxene andesite, latite porphyry, and vitric tuff) with interbedded mud-flow breccia, which is the primary host rock for mineralization at Cimarron. This unit features poorly-sorted, cobble- to pebble-sized, intermingled volcanic and sedimentary fragments in a fine-grained mud matrix. The alteration observed in the first three holes includes silicification and argillic and propylitic alteration with strong iron oxides. The three completed core holes are twins of historic reverse circulation holes in each...