CRS - Crestview Exploration Announces Results from the 2022 HSAMT Survey at the Rock Creek and Falcon Gold Prospects in Elko County Nevada
(TheNewswire)
Calgary, AB - TheNewswire - January 17, 2023 - Crestview Exploration Inc. ( CSE:CRS ) ( Frankfurt:CE7 ) (“Crestview” or “theCompany”) is pleased to announce the results from the 2022Hybrid-Source Audio Magnetotellurics (HSAMT) survey at the Rock Creekand Falcon gold-silver prospects in the Tuscarora Mountains of ElkoCounty, Nevada. Four survey lines were carried out at Rock Creek andone lines was conducted at Falcon, for a total of approximately 6,800meters surveyed. Please refer to Table 1 for line length and locationcoordinates.
Table 1
| Survey Line Locations - UTM Zone 11N |
| Line |
| Length (meters) |
| Easting Start |
| Northing Start |
| Easting End |
| Northing End |
| Rock Creek 1 |
| 1200 |
| 550938 |
| 4581198 |
| 552137 |
| 4581197 |
| Rock Creek 2 |
| 1700 |
| 550584 |
| 4582207 |
| 552282 |
| 4582209 |
| Rock Creek 3 |
| 1300 |
| 550482 |
| 4582981 |
| 551782 |
| 4582970 |
| Rock Creek 4 |
| 1300 |
| 550481 |
| 4584280 |
| 551782 |
| 4584286 |
| Falcon 1 |
| 1300 |
| 550424 |
| 4577320 |
| 551726 |
| 4577300 |
The lines were oriented E-W to cross the dominantstructural fabric in the area. Please refer to Figure 1 forapproximate locations and corresponding surface geology at Rock Creek.The four lines at Rock Creek were widely spaced across the length ofthe property, and the Falcon line was chosen to offset the inheritedFalcon CSAMT data in the area of the historic mine.
The survey penetrated to approximately 800 metersdepth, providing strong indicators for major structural and possiblelithological changes. The uninterpreted figures for the line data isprovided in Figures 2-6.
Figure 2 – Rock Creek Line 1
Figure 3 – Rock Creek Line 2
Figure 4 – Rock Creek Line 3
Figure 5 – Rock Creek Line 4
Figure 6 – Falcon Line 1
Crestview is in the process of integrating this datawith the other results taken to date, including the 2022high-resolution mapping at Rock Creek. The surface lithologies andinterpreted stratigraphic sections are beingutilized to interpret possible lithology/Formation changes.Additionally, the vertical/sub-vertical structures (which reach thesurface) in the HSAMT sections correspond well with the mapped faults.
There appear to be deep-penetrating anomalies in all ofthe HSAMT sections, which may represent favorable structures forhydrothermal fluid flow and subsequent alteration and mineralization.There is also a marked horizontal contrast in resistivity at RockCreek, approximately below the 1,700-1,800 meter mark where thecontour spacing begins to widen significantly. This contrast mayrepresent a paleosurface between the upper volcanic sequence and theunderlying Paleozoic metasedimentary sequence.
The section at Falcon corresponds well with the nearestCSAMT section Crestview inherited with the Falcon data (Ironwood GoldCorp.: Preliminary Assessment of Falcon Mine Property, 2012). In theinherited report, the low-resistivity signal at depth (belowapproximately the 1,800 meter mark) is interpreted to indicate“extremely conductive altered carbonaceous lower plate sediments”(Ironwood Gold Corp.: Preliminary Assessment of Falcon Mine Property,2012).
Crestview is utilizing this and all other datacollected to date to update and finalize drill targets for the 2023program. The company aims to drill between 8,000 to 12,000 feet atRock Creek, and another 2,000 to 3,000 feet at Divide in the comingfield season.
Crestview’s CEO, Chris Wensley, commented, “we arevery encouraged and excited by what we are seeing in the HSAMT dataand how it corresponds with our mapping efforts. Crestview has nowaccomplished all of the preliminary work set out ahead of drilling atRock Creek, including mapping, sampling, and collecting geophysicaland geochemical data. We are now in a position to pick the bestpossible drill targets at Rock Creek, and we are eager to test thetargets in 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 NI43-101 and has reviewed the scientific and technical disclosureincluded in this news release.
On Behalf of the Board of Directors,
Chris Wensley, CEO
About Crestview ExplorationInc:
Crestview Exploration is anexperienced exploration company focused on the exploration anddevelopment of its portfolioof gold and silver properties located in prolific mining districts ofNevada.
The Rock Creek gold project isCrestview's flagship asset, with 74 unpatented lode mining claimswholly owned and controlled by CRS. The Rock Creek property wasacquired in 2017, and the company went public in 2019. Emboldened bythe results coming out of Rock Creek, Crestview strategically expandedon the land position with the acquisition of the nearby Divide Mineprospect in April 2020, and the acquisition of the Falcon silver-goldprospect in September 2022. Between the three properties, alltargeting similar mineralization and likely the same hydrothermalsystem, Crestview now holds 260 total claims in close proximity of oneanother. These three gold prospects, along with the nearby Castileprospect, 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-gradegold-silver deposits is favorable.
The Cimarron project is located inthe San Antonio Mountains of Nye County, Nevada, and is comprised of31 unpatented lode mining claims, including control of 6 historicallyproducing claims associated with the historic San Antonio mine. Theproperty is located in the prolific Walker-Lane trend, approximately44 kms south of the "world class" Round Mountain deposit.
For further information pleasecontact:
Chris Wensley, Chief Executive Officer
Tel: 1-778-887-3900
Email: Chris@crestviewexploration.com
Forward-Looking Information
This news release includes certaininformation that may be deemed “forward-looking information” underapplicable securities laws. All statements in this release, other thanstatements of historical facts, that address acquisition of theProperty and future work thereon, mineral resource and reservepotential, exploration activities and events or developments that theCompany expects is forward-looking information. Although the Companybelieves the expectations expressed in such statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those in the statements. There are certain factors that couldcause actual results to differ materially from those in theforward-looking information. These include the results of theCompany’s due diligence investigations, market prices, explorationsuccesses, continued availability of capital financing, and generaleconomic, market or business conditions, and those additionallydescribed in the Company’s filings with the Canadian securitiesauthorities.
Investors are cautioned that anysuch statements are not guarantees of future performance and actualresults or developments may differ materially from those projected inthe forward-looking information. For more information on the Company,investors are encouraged to review the Company’s public filings atwww.sedar.com. The Company disclaims any intention or obligation toupdate or revise any forward- looking information, whether as a resultof new information, future events or otherwise, other than as requiredby law .
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITSREGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FORTHE ADEQUACY OR ACCURACY OF THIS RELEASE
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