/NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES/
TORONTO, Oct. 1 /CNW/ - CITADEL GOLD MINES INC. (CGM.H: NEX Exchange).
Citadel Gold Mines Inc. (the "Company") announces that it has acquired 472 line-kilometres of airborne time-domain electromagnetic and magnetic data from an AeroTEM survey on the Massey property located near Elliot Lake, Ontario, about 100 km west of Sudbury.
The property, which is owned by Trelawney Resources Inc. (TRR-TSXV) and optioned to the Company, consists of about 2,000 acres covering three former copper-producing mines: the Massey mine, the Hermina number 1 mine, and the Hermina number 3 mine.
The survey outlined what appears to be a large gabbro unit striking east-west as a prominent magnetic feature. The electromagnetic data was less useful, as the AeroTEM system was strongly affected by power line noise. A major power line runs sub-parallel to the area of interest.
The Company contracted Balch Exploration Consulting Inc. to review the AeroTEM data, to comment on the AeroTEM response near the power lines, and to integrate the airborne data with the geological model.
The Company has been advised that there is no indication of any large shallow or deep conductive body based on the airborne survey results. Close to the power line, results are inconclusive, as interference extends for a distance of approximately 300 metres from the power lines. Flight lines over known mineralization did not display significant anomalies, nor do they suggest that the known occurrences have lateral extensions.
This news release was reviewed and approved for technical disclosure by Roy Rupert, P.Eng., Consulting Geologist, of Roy J. Rupert & Associates, an independent qualified person under NI 43-101.
The NEX Exchange has neither approved nor disapproved of the information contained herein. The statements used in this press release may contain forward-looking statements, and are based on the opinions and estimates of management, or on opinions and estimates provided to, and accepted by, management. These opinions and estimates include those that relate to geological and mining factors, commodity prices, and marketing parameters used by management, and speak only as of the date of this press release. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ, possibly significantly. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual events or results will be consistent with these forward-looking statements. Except as required by law, the Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking information, whether as a result of new information, future developments or otherwise. Readers are therefore cautioned not to place undue reliance on any forward-looking statements.