Calgary, Canada September 29, 2022 – Crestview Exploration Inc. (CSE: CRS, Frankfurt: CE7) (“Crestview” or the “Company”) is pleased to announce the first round of sampling results for the ongoing mapping and sampling program at the Rock Creek gold project in Elko County, Nevada. The sampling results are very encouraging and demonstrate the widespread nature of the gold and silver signature.
The 2022 sampling to date has been focused on epithermal quartz veins from outcrops across the south and central portion of the Rock Creek property (see Map 1). The results include 18 samples containing greater than 0.1 g/t Au and 4 samples containing economic silver grades. Anomalous gold was ubiquitous in the 44 total samples collected.
A previous press release (dated January 16, 2020) described results from the previous sampling programs undertaken at Rock Creek (included in Map 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.
The 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 has strategically expanded on the land position with the acquisition of the nearby Divide Mine prospect in April, 2020 and the recent acquisition of the Falcon Mine (September, 2022; see Map 2). Between the three deposits, 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 projects (along with the nearby Castile project) 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 deposits is favorable (see Map 3).
V.P. of Exploration, Justin Lowe, commented that “the sampling results from our Rock Creek property continue to be extremely encouraging. Considered along with the very strong sample results at Divide and the historic production at Falcon, we could be targeting a significant and widespread gold and silver system, and perhaps even greater potential to grow at depth.”
The mapping and sampling efforts are ongoing and will continue to the northern portion of the property. We anticipate having this phase completed by the end of October, with assay results to follow. As a reminder to the reader, this high-resolution mapping and sampling program is being conducted in conjunction with several depth-penetrating CSAMT lines in preparation for a follow-up drill campaign planned for 2023.
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.
On behalf of the board of directors,
Chris Wensley, CEO and Director
About Crestview Exploration Inc:
Crestview Exploration is a technology driven, well-funded and experienced exploration company focused on finding gold and silver deposits in mining friendly jurisdictions. The Rock Creek, Falcon, Divide, and Castile projects are situated in the Tuscarora Mountains of northern Elko County, Nevada. The company’s Tuscarora properties combined comprise a total of 198 unpatented lode mining claims and 6 patented mining claims.
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.
For further information please contact:
Chris Wensley, Chief Executive Officer
Email : Chris@crestviewexploration.com
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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