Calgary, Canada December 21, 2021 – Crestview Exploration Inc. (CSE: CRS, Frankfurt: CE7) (“Crestview” or “the Company”) is pleased to announce the results of the 2021 mapping and sampling program at the Castile Mountain gold prospect in Tuscarora, NV. Crestview’s Castile Mountain prospect was mapped at a 1:2,000 scale, and additional surface chip samples were collected. The 2021 sampling program at Castile is comprised of 15 surface samples taken from faulted and fractured zones with strong alteration and mineralization envelopes (silicification and iron oxides).
Justin Lowe, VP Exploration, commented “our 2021 mapping and sampling at Castile has further demonstrated the target concept for the property, with several of our samples containing anomalous gold including one at greater than 0.5 g/t Au. Looking forward, a key aspect for a successful drill program at Castile will be intersecting the unconformity between the surface volcanics and underlying metasedimentary basement. To this end, we are looking into conducting a geophysical survey ahead of our planned 2023 Reverse Circulation drilling program.”
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The geologic mapping conducted at Castile indicates that drilling, both shallow and deep, is warranted to pin down structural intersection zones and the unconformable contact between the Tertiary volcanic rocks with the Palaeozoic basement.
Tertiary volcanic rocks at Castile Mountain are represented by andesite breccias (Tpx) and minor andesite lavas (Tpa; Map 1). Palaeozoic siliciclastic rocks are exposed about 3 kilometres SW of Castile. Alteration and mineralization are structurally controlled along faults and fractures. A strong NW-trending, NE-dipping structural zone, with a minimum width of about 500 meters, crosscuts the Tertiary volcanics and is assumed to be a depositional site of precious metals. This primary fabric is intersected by NE-trending, SE-dipping structures of variable widths (~50-70 meters). These intersection zones are spatially associated with alteration and iron oxides.
Volumetrically the most important type of alteration that affects the andesite breccias is a pervasive illitic assemblage preserving most of the original textures. Commonly, the andesite breccia is vuggy (pitted) due to the removal of altered feldspar phenocrysts. Weak propylitization only affects the andesite lavas, although in some locations the lavas are altered to an illitic assemblage with strong iron oxides proximal to structures.
Iron oxides (exotic jarosite and hematite with minor late goethite) are abundant across the property. The iron-oxides proportions vary across the property from approximately 70 % jarosite and 30 % goethite to approximately 90% goethite and 10 % hematite.
An additional 15 samples were collected at the Castile Mountain gold prospect (Map 2) in 2021, bringing the total number of surface samples collected at Castile to date to 34, with 17 samples containing greater than 0.1 g/t Au including 3 samples greater than 0.5 g/t Au.
Map 1: Castile Lithology and Alteration
Map 2: Castile Sampling
This News Release was prepared by J.A. Lowe, M.Sc. Geology. Brian T. Brewer, M.Sc., CPG #11508, is a Qualified Person as defined by NI 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
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 Crestview’s projects Rock Creek, Divide, and Castile Mountain are situated in the Tuscarora Mountains of northern Elko County, Nevada. The company’s Tuscarora properties combined comprise a total of 101 unpatented lode mining claims, with 74 claims at Rock Creek, 19 claims at Divide, and 8 claims at Castile Mountain.
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
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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