Calgary, Canada March 23, 2021 – Crestview Exploration Inc. (CSE: CRS, Frankfurt: CE7) (“Crestview” or “the Company”) is pleased to announce AK Drilling Inc. will conduct phase 1 drilling at the recently acquired Cimarron gold prospect (“Cimarron” or the “Property”). For details of the Cimarron property acquisition and/or for a more detailed description of the Cimarron gold prospect, the reader is referred to the news release titled “Crestview Exploration Inc. Acquires a Lease with Option to Purchase on the Cimarron Gold Prospect in Nye County – Nevada” and dated February 24, 2021.
The Cimarron gold prospect is located in Nye County, Nevada approximately 30 kilometers North of the mining town Tonopah, Nevada (see Map 1 below).
The prospect was acquired along with data for approximately 190 holes totaling 54,000’ of drilling conducted in the 1980’s, and a historic resource of greater than 50,000 ounces of gold (resource reference is to an internal mining report by Peter Hahn to Budge Mining Ltd. dated February 17, 1987). Because this historical data was never made 43-101 compliant, this phase 1 drilling will focus on twinning between 8 and 10 holes spread throughout the main resource area for a total of approximately 5,000’ (see Map 2 below).
The holes to be twinned were selected based on historical assay data and depth of mineralization. The two main objectives of this phase 1 drill program are:
- To validate historical data. We will begin this process by twinning a spread of the historic RC drill holes in the resource area with HQ core drill holes. Core holes are generally considered more reliable, and less subject to down-hole contamination.
- To begin to test the resource expansion potential at depth by pushing the twinned holes to greater depths than the original. The historical drilling was very shallow, with an average depth of less than 200’, and many of the holes were terminated in economic grade.
Justin Lowe, VP Exploration commented “we are very excited for this upcoming drill program at Cimarron. We will be twinning some of the best historical drill holes, but to greater depths than the originals. We hope to both confirm and expand on the historic 50,000-ounce gold resource, and this program is designed to make considerable headway on both.”
Crestview plans to begin the phase 1 drill program at the Cimmaron gold prospect in April, 2021.
This News Release was prepared by J.A. Lowe, M.Sc. Geology, and has been approved by Brian T. Brewer, M.Sc., CPG #11508.
Brian T. Brewer 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 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 53 unpatented lode mining claims, including control of 6 historically producing claims associated with the historic San Antonio mine.
Glen Watson, 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. NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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