Calgary, Canada September 15, 2021 – Crestview Exploration Inc. (CSE: CRS, Frankfurt: CE7) (“Crestview” or “the Company”) is pleased to announce the results of the recent phase 1 drill program at the Cimarron gold prospect (“Cimarron” or the “Property”). Anomalous gold values were encountered in all four holes drilled, including continuous zones of economic grades (Au > 0.5 g/t) starting at, or near, the surface. Please refer to the summary table below.
SA-01 and SA-03 each intercepted significant zones of gold mineralization. SA-01 intercepted 20.7 m of 0.59 g/t gold mineralization, starting at a depth of 11 m (includes an 8.2 m zone of 1.11 g/t Au). SA-03 intercepted two zones of mineralization: the upper zone starts at the surface and extends 16.8 m of 0.59 g/t gold mineralization, and the lower zone runs from 26.7 m to 45.1 m for 18.4 m of 1.08 g/t gold mineralization (includes a 9.3 m zone of 1.51 g/t Au). SA-01 and SA-03 were drilled approximately 200 m apart, which may represent a wide area of oxide, heap-leachable gold mineralization starting at or near the surface.
SA-02 and SA-04 each intercepted three short intervals of anomalous gold mineralization at similar depths (deeper in SA-02), suggesting these zones may be continuous. Moreover, the mineralization in these holes is significantly deeper than in SA-01 and SA-03. All in all, this data suggests the system may be continuing at depth to the NW.
The gold mineralization occurs in highly fractured and faulted volcanic rocks of pyroxene andesite, welded vitric tuff, and volcanic mudflow breccia. The mineralization is associated with abundant iron oxides (jarosite>hematite>geothite), moderate argillic alteration, minor silicification, minor propylitic alteration, and late calcite, further supporting that the Cimarron Gold Prospect is host to a shallow low sulfidation oxide gold system.
VP of Exploration Justin Lowe commented: “We have encountered anomalous gold mineralization in all of our holes, and we hit continuous zones of gold mineralization starting near- surface in two holes. We will begin testing the continuity of these mineralized zones in the following program.”
As a reminder to the reader, the Cimarron property encompasses the historic San Antonio mine area (active in the early 1900s), located in the Walker Lane Trend in Nye County, NV. The property received extensive attention again in the 1980s with approximately 190 shallow reverse circulation holes drilled in or near the historic mine area and a shallow resource outlined but never extracted.
Additional drilling will be required to validate the historic resource, but these initial results are encouraging. Crestview is working with Practical Mining, LLC to construct a resource model of historical data which will be used to guide future drilling at Cimarron.
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 35 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