Calgary, Canada December 17, 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 Rock Creek and Divide Mine gold prospects in Tuscarora, NV. Crestview’s Divide Mine prospect was mapped at a 1:2,000 scale, and additional surface chip and grab samples were collected at both Rock Creek and Divide. The 2021 sampling at the two prospects is comprised of 32 surface samples from faulted and fractured zones with strong alteration and mineralization envelopes (silicification, argillization and iron oxides).
Upon completion of the geological mapping at Divide, three conceptual targets are envisioned at the property: 1) blind veins and ore shoots in the volcanic package, 2) along the unconformity between the Tertiary volcanic rocks and the underlying Palaeozoic sedimentary rocks and 3) disseminated mineralization in the Palaeozoic siliciclastic rocks beneath the historic mine area.
The geology of the Divide property includes Palaeozoic siliciclastic rocks and Tertiary volcanic rocks (Map 1) variably altered and mineralized along structures. The Tertiary volcanic package is exposed in the NE portion of the property, in the area of the historic Divide Mine. The Tertiary package can be divided into three groups: 1) intracaldera lithic-rich, rhyolitic ash-flow (Tct) which hosts mineralization; 2) poorly sorted megabreccia (Tbx); and 3) small post-mineralization dacite dikes (Tdd). The Palaeozoic package, exposed in the SW portion of the property, consists of siltstone (Pzs), bedded chert and orthoquartzite (Pzq).
In the area of the historic Divide Mine, precious metals were produced from a number of quartz-barite-Fe-oxide veins/structures that generally strike NE with steep dips to the NW. In addition, brecciated lithic rhyolitic ash-flow, cemented with quartz, barite, and iron oxides is also noted as a host for mineralization. Silicification is discontinuous along the vein, producing a highly siliceous and somewhat vuggy vein appearance. Illitic alteration is most intense along and near fractures and structures. Away from major structures, this alteration is weaker and usually preserving original textures. The highly deformed Palaeozoic siliciclastic rocks are exposed in the Dry Creek Mountain area and are host of two styles of mineralization: bedding-parallel in the thin bedded chert unit and along structures/fractures.
Jarosite and hematite are present and the primary sulfide is assumed to have been composed of pyrite and arsenopyrite (boxwork structures). A significant quartz-vein halo (which may reflect the top of a mineral system) sits at the top of the mountain along NE-trending, NW-dipping and NW-trending, SW-dipping trends that also reflect the two main fracture systems in the area. The intersection zone of both systems is centered on a recessive area with siltstone (Pzs), prominent quartz veins, and chrysocolla in the float.
An additional 23 samples were collected at the Divide Mine gold prospect (Map 2) in 2021, bringing the total number of surface samples collected at Divide to date to 53, with 14 samples containing greater than 0.1 g/t Au including 4 samples greater than 1 g/t Au. The 2021 sampling was focused in the SW portion of the property where the Paleozoic siliciclastic rocks are exposed at the surface.
Map 1: Divide Geology and Alteration
Map 2: Divide Sampling
An additional 9 samples were collected at the Rock Creek gold prospect (Map 3) in 2021, bringing the total number of surface samples collected at Rock Creek to date to 99, with a number of samples in the 0.1 g/t to 0.35 g/t Au range and one sample at 0.597 g/t Au. The 2021 sampling at Rock Creek was focused in the southern portion of the property in the area of the proposed 2022 drill program. Crestview plans to conduct geological mapping and additional sampling across Rock Creek in late Spring to early Summer, 2022.
Map 3: Rock Creek Sampling
Chris Wensley, CEO commented that “the observations made during our Tuscarora mapping and sampling have provided several new avenues for future targeting, including possible claim expansion at Rock Creek and Divide. Crestview is also planning to conduct a depth-penetrating geophysical survey over the Rock Creek and Divide target areas in late Spring/early Summer, 2022 ahead of our planned Reverse Circulation drilling program.”
In other news, Crestview has completed building our internal 3D geology and resource model of historical drill data at Cimarron. This model will be used to plan future drilling campaigns at the property.
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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