Calgary, Canada November 9, 2022 – Crestview Exploration Inc. (CSE: CRS, Frankfurt: CE7) (“Crestview” or the “Company”) is pleased to announce the results for recent surface sampling at the Rock Creek gold project in Elko County, Nevada. This batch brings the total for the 2022 program at Rock Creek to 97 sample assays received, and one additional sample batch to come.
The surface sampling program has demonstrated wide-spread anomalous gold and silver (see Figure 1), including 8 samples with greater than 30 g/t Ag, and 2 samples with greater than 0.5 g/t Au. The 2022 sampling focused on epithermal quartz veins exposed in outcrop and historic prospect pits and was undertaken in conjunction with 1:2,000 scale mapping.
A previous press release (dated January 16, 2020) described results from the previous sampling programs undertaken at Rock Creek (included in Figure 1), which summarized the previously collected 98 surface samples and highlighted two gold values over 0.5 g/t (0.543 g/t and 0.597 g/t Au) and several samples in the 0.1 g/t to 0.35 g/t Au range.
V.P. of Exploration, Justin Lowe, commented that “the sampling results continue to indicate a widespread gold and silver system. Taken together with the 2021 mapping and sampling results at Divide, and the historic production at Falcon, we are optimistic that we could be targeting a significant and widespread gold and silver system.”
Crestview anticipates receiving the remainder of the 2022 sample assays in the next several weeks, and having an updated geology, structure, and alteration map in the same time frame. The company also expects to have results from the CSAMT survey at Rock Creek shortly. All of these results will be integrated and utilized for drill targeting for the follow-up drill campaign in 2023.
Samples include both chip and grab, primarily from outcropping quartz veins; chip samples were collected using a rock hammer. Each sample was placed into a tight weave fabric type sample bag and transported to Paragon Geochemical assay lab in Sparks, Nevada.
The samples were prepared by Paragon to include drying at 100℃, crushing to 70% passing 10 mesh, riffle splitting 250g, and pulverizing to 85% passing 200 mesh. Equipment goes through Pre Operation checks for gold contamination. At the beginning of each sample job, wash rock blanks are crushed and pulverized. Every 40 samples is checked for mesh size on the pre-split crushed sample as well as the pulverized material.
The samples were analyzed for gold using a 30g fire assay, and a multi-element suite including silver was analyzed by Aqua Regia and ICP-OES. A prep duplicate (second pulp split from client sample) is run at random every 37 samples. Results are compared to one-another with a precision tolerance generally 20% of each pair’s mean. One certified reference standard (CRM) and one internal reference standard (IRM) is analyzed for each rack of 42 positions. Each rack also has a duplicate sample and a blank, resulting in 38 client samples per 42.
This News Release was prepared by J.A. Lowe, M.Sc. Geology, and has been approved by Alan Morris, M.Sc., CPG #10550.
Alan J. Morris is a Qualified Person as defined by NI 43-101 and has reviewed the scientific and technical disclosure included in this news release.
About Crestview Exploration Inc:
Crestview Exploration is an experienced exploration company focused on the exploration and development of its portfolio of gold and silver properties located in prolific mining districts of Nevada.
Rock Creek gold project is Crestview’s flagship asset, with 74 unpatented lode mining claims wholly owned and controlled by CRS. The Rock Creek property was acquired in 2017, and the company went public in 2019. Emboldened by the results coming out of Rock Creek, Crestview strategically expanded on the land position with the acquisition of the nearby Divide Mine prospect in April 2020, and the acquisition of the Falcon silver-gold prospect in September 2022. Between the three properties, all targeting similar mineralization and likely the same hydrothermal system, Crestview now holds 196 claims all within 2 kms of one another. These three gold prospects, along with the nearby Castile prospect, are situated in a region with proven “world class” gold deposits (including Midas, Jerritt Canyon, Betze-Post, Meikle, and Gold Quarry), where the potential of finding large, high-grade gold-silver deposits is favourable.
The Cimarron project is located in the San Antonio Mountains of Nye County, Nevada, and is comprised of 31 unpatented lode mining claims, including control of 6 historically producing claims associated with the historic San Antonio mine. The property is located in the prolific Walker-Lane trend, approximately 44 kms south of the “world class” Round Mountain deposit.
For further information please contact:
Chris Wensley, Chief Executive Officer
This news release includes certain information that may be deemed “forward-looking information” under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work thereon, mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company’s due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company’s filings with the Canadian securities authorities.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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