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Crestview Exploration to Conduct CSAMT Geophysical Survey at the Rock Creek Gold Prospect in Tuscarora, NV And Announces Closing of First Tranche of Private Placement
Calgary, Canada – TheNewswire - June 10, 2022 – Crestview Exploration Inc. (CSE:CRS), (Frankfurt:CE7) (“Crestview” or the “Company”) is pleased to announce an u
About this update from Gold Runner Exploration Inc.
[{"type":"text","content":"Calgary, Canada – TheNewswire - June 10, 2022 – Crestview Exploration Inc. (CSE:CRS), (Frankfurt:CE7) (“Crestview” or the “Company”) is pleased to announce an upcoming Controlled-Source Audio-frequency Magnetotelluric (CSAMT) geophysical survey at the Rock Creek gold prospect to be conducted by Geophysics GPR International Inc. The survey will include four East-West lines from across the property (Figure 1), and is slated to begin mid-July, 2022. The survey will be conducted ahead of our planned drilling at Rock Creek and will be used to both finalize our drill hole selection and build upon understanding of the geology at depth. Figure 1: Proposed CSAMT Lines at Rock Creek The two southernmost lines (1 & 2) will cross the 1.6 km gold-arsenic anomaly outlined by a Mobile Metal Ion (MMI) soil survey carried out by Ironwood Gold Corp. in 2010 (Figure 2). Line 1 is also in the area of outcropping Paleozoic sequence and assumed to be lower in the stratigraphy. Line 2 crosses the widest portion of the MMI anomaly along transect with two of the proposed drill holes. Figure 2: MMI Soils Survey at Rock Creek The two northern lines (3 & 4) cross or are proximal to a historical drill program carried out by Shell in 1983 which yielded interesting results. Line 3 bisects historic holes CC-10 and CC-11 which each reportedly intersected 100 feet of 0.02 opt gold mineralization (Cruson and Limbach, 1985 in Amended Technical Report - Rock Creek Project, Rock Creek Mining District, 2019). Line 4 is just south of historic hole CC-2, which is described as having encountered pyritized, carbonaceous siltstone at depth: “The top 265 ft. of this hole penetrated altered tuff with numerous gold shows … then bottomed in 135 ft. of pyritized, carbonaceous siltstone\" (Cruson and Limbach, 1985 in Amended Technical Report - Rock Creek Project, Rock Creek Mining District, 2019). The Company is also pleased to announce that is has closed, subject to CSE approval, the first tranche of its non-brokered private placement in the amount of $176,500.05 by issuing 1,176,667 units at a price of $0.15 per unit. Each unit consists of one common share of the Company and one share purchase warrant of the Company. Each warrant is exercisable into one common share of the Company at a price of $0.30 for a term of two-years from the date of issuance. The Compan...