Vancouver, B.C.; Sept 20th, 2013; Confederation Minerals
Ltd. (TSX.V:CFM; OTCQX:CNRMF; Frankfurt:070): ("Confederation" or
the "Company") is pleased to announce the most recent
assay results from six additional diamond drill holes from their
2013 summer drilling program at the Newman Todd gold project in the
Red Lake District, northern Ontario. Drilling continues to be
focused on the gold-bearing, structural zone known as the Newman
Todd Structure (NTS). Confederation has the right to earn a 70%
interest in the project from Redstar Gold Corp. (TSXV:RGC).
Assay highlights from this most recent drilling are tabulated
below:
The most recent, and up-to-date results returned from the
on-going Newman Todd drilling are listed below:
------------------------------------------------------------
|HoleID| |From (m)|To (m)|Width (m)|Au (g/t)|
|----------------------------------------------------------|
|NT-155| |45.0 |45.5 |0.5 |6.58 |
|----------------------------------------------------------|
|NT-155|and |110.0 |116.0 |6.0 |7.05 |
|----------------------------------------------------------|
|NT-155|including |110.0 |111.0 |1.0 |11.30 |
|----------------------------------------------------------|
|NT-155|and including |115.0 |116.0 |1.0 |26.80 |
|----------------------------------------------------------|
|NT-155|and |142.0 |143.0 |1.0 |6.88 |
|----------------------------------------------------------|
|NT-155|and |188.0 |189.0 |1.0 |3.12 |
|----------------------------------------------------------|
|NT-155|and |194.0 |197.0 |3.0 |3.42 |
|----------------------------------------------------------|
|NT-155|including |194.0 |195.0 |1.0 |7.70 |
|----------------------------------------------------------|
|NT-155|and |210.0 |212.0 |2.0 |3.27 |
|----------------------------------------------------------|
|NT-155|and |234.0 |235.0 |1.0 |3.49 |
|----------------------------------------------------------|
|NT-155|and |307.0 |319.0 |12.0 |3.00 |
|----------------------------------------------------------|
|NT-155|including |307.0 |313.0 |6.0 |5.05 |
|----------------------------------------------------------|
|NT-155|and including |308.0 |308.5 |0.5 |43.90 |
|----------------------------------------------------------|
|NT-155|and |318.0 |319.0 |1.0 |3.65 |
|----------------------------------------------------------|
|NT-156| |59.0 |62.0 |3.0 |3.06 |
|----------------------------------------------------------|
|NT-156|including |60.0 |61.0 |1.0 |6.57 |
|----------------------------------------------------------|
|NT-156|and |71.0 |73.0 |2.0 |7.40 |
|----------------------------------------------------------|
|NT-156|including |71.0 |72.0 |1.0 |11.60 |
|----------------------------------------------------------|
|NT-157| |40.0 |41.0 |1.0 |3.19 |
|----------------------------------------------------------|
|NT-157|and |86.0 |89.0 |3.0 |3.19 |
|----------------------------------------------------------|
|NT-157|including |88.0 |89.0 |1.0 |5.23 |
|----------------------------------------------------------|
|NT-157|and |114.0 |115.0 |1.0 |4.02 |
|----------------------------------------------------------|
|NT-158| |22.5 |28.0 |5.5 |3.07 |
|----------------------------------------------------------|
|NT-158|including |22.5 |23.0 |0.5 |19.30 |
|----------------------------------------------------------|
|NT-158|and including |25.0 |26.0 |1.0 |3.19 |
|----------------------------------------------------------|
|NT-158|and including |27.0 |28.0 |1.0 |3.08 |
|----------------------------------------------------------|
|NT-158|and |114.0 |115.0 |1.0 |5.48 |
|----------------------------------------------------------|
|NT-159|Weakly anomalous| | | | |
|----------------------------------------------------------|
|NT-160|Weakly anomalous| | | | |
------------------------------------------------------------
Table 1: Significant Results
* Width is calculated as core length and does not imply true
width of the zone. Weighted average gold intervals apply a 0.20 g/t
lower cut-off. Internal dilution within reported intervals does not
exceed core lengths of 3 metres unless otherwise indicated.
Drill hole NT-155 is located in the northeast of an area
referred to as the 'Hinge Zone', approximately 25 m to the
northwest of hole NT-154 (previously reported on in the news
release dated August 28th, 2013).
Drill holes NT-156, NT-157, NT-158, NT-159 and NT-160 were all
positioned along the same drill section line (section 1475; see
accompanying figure) in the area referred to as the 'Heath Bull
Zone', approximately 475 meters to the southwest of hole NT-155.
All five holes were collared at the same location, one hole
(NT-158) being vertical, and the others being angled at -45 and -60
degrees with azimuths towards both the southeast and northwest.
Locations of these six holes are shown on Figure 1 below. Drill
hole orientations, assay highlights and geological interpretations
are illustrated on Figure 2, which is a cross section through the
NTS looking northeast.
For a complete description of the geological setting, local
geology, a list of drill holes completed to date along with assay
results for all drill holes, please refer to the Company's web site
at http://www.confederationmineralsltd.com/. Results from the
previous holes comprising the current drilling phase were reported
on in press releases issued by the Company on August 23, 2013 and
August 28, 2013. Included in the August 23rd press release are
potential "going forward" plans for advancing the exploration on
this advanced-stage, gold-bearing discovery, and the reader is
referred to that recent document.
Assays from additional holes will be reported on as they are
received from the laboratory and have passed quality control
criteria implemented by the Company.
Company CEO Lawrence Dick, Ph.D., P.Geo. states "Since 2011,
Confederation Minerals Ltd. has completed 46,644 meters of drilling
in 110 diamond drill holes along approximately 1.8 kilometers of
the Newman Todd structural/alteration zone which strikes NE-SW
across the property and attains widths in excess of 200 meters.
Within this extremely large volume of potentially gold-bearing host
rock, nearly all holes have intersected gold mineralization (refer
to web site), which occurs over a depth interval ranging from
surface to approximately 1 kilometer, where it remains open. Still,
approximately 400 meters of the structure remains to be drilled
along strike at the SW end of the project area. The large,
geological and geochemical database gathered to date by
Confederation is now being used to generate cross section and plan
view interpretations. These interpretations will serve as the basis
for the planning of the next phase of drilling which will have the
objective of demonstrating continuity of the gold-mineralized
trends as well as the identification of additional, gold-bearing
structural zones."
Drill Hole Summary
Hole NT-155: This hole is located in the Hinge
Zone along drill section 2050. It was orientated at an angle of -50
degrees towards the southeast. Several intervals of enriched
sulfides were intersected with visible gold being observed during
core logging. Assay highlights for this hole include 6.0 meters
grading 7.05 g/t gold at a depth of 110 to 116 m, including 1.0 m
at 26.80 g/t gold from 115 - 116 m; 3.0 m grading 3.42 g/t gold at
a depth of 194 to 197 m, including 1.0 m at 7.70 g/t gold from 194
to 195 m; and 12.0 m at 3.0 g/t gold at a depth of 307 to 319 m,
including 0.5 m at 43.90 g/t gold from 308 to 308.5 m.
Hole NT-156: This hole is located in the Heath
Bull Zone along drill section 1475, at the same collar position as
holes NT-157, NT-158, NT-159 and NT-160. It was drilled at an angle
of -45 degrees to the southeast. Sulfide mineralization is
represented by pyrite throughout, with scarce chalcopyrite towards
the bottom and an increase in pyrite/pyrrhotite mainly in iron
formation. Assay highlights for this hole include 3.0 meters
grading 3.06 g/t gold at a depth of 59 to 62 m; and 2.0 meters
grading 7.40 g/t gold at a depth of 71 to 73 m, including 1.0 m at
11.60 g/t gold from 71 - 72 m.
Hole NT-157: This hole is located in the Heath
Bull Zone along drill section 1475 at the same collar position as
holes NT-156, NT-158, NT-159 and NT-160. It was oriented in the
same southeasterly direction as hole NT-156 but at a slightly
steeper angle (-60 degrees). Traces of base metal sulfides were
observed throughout the entire hole with a local increase in pyrite
and pyrrhotite. Assay highlights for this hole include 3.0 meters
grading 3.19 g/t gold at a depth of 86 to 89 m, including 1.0 m at
5.23 g/t gold from 88 - 89 m.
Hole NT-158: This hole is a vertical hole
located in the Heath Bull Zone along drill section 1475, at the
same collar position as holes NT-156, NT-157, NT-159 and NT-160.
Visible gold was observed in the core during logging at depths of
22.9m and 35.9m. Assay highlights for this hole include 5.5 meters
grading 3.07 g/t gold at a depth of 22.5 to 28 m, including 0.5 m
at 19.30 g/t gold from 22.5 - 23 m.
Hole NT-159: This hole is located in the Heath
Bull Zone along drill section 1475 at the same collar position as
holes NT-156, NT-157, NT-158 and NT-160. It was drilled at an angle
of -45 degrees towards the northwest. This hole, together with hole
NT-160, was drilled very close to the footwall of the NTS with the
aim of determining geology rather than mineralization. It was
observed to intersect the footwall contact at 82.3m. No significant
visible mineralization was observed in the core, and assays were
returned as weakly anomalous.
Hole NT-160: This hole is located in the Heath
Bull Zone along drill section 1475 at the same collar position as
holes NT-156, NT-157, NT-158 and NT-159. It was oriented in the
same northwesterly direction as hole NT-156 but at a slightly
steeper angle (-60 degrees). As with hole NT-159, this hole was
drilled very close to the footwall of the NTS and intersected the
footwall contact at 98.9m depth. Also as with NT-159, no
significant visible mineralization was observed in the core, and
assays were returned as weakly anomalous.
Andrea Diakow, P.Geo, is the Qualified Person as defined by
National Instrument 43-101 and has reviewed the technical content
relating to the disclosed drill results in this news release. Core
samples from the program were cut in half using a diamond cutting
saw and were sent to Activation Laboratories Ltd. in Red Lake,
Ontario, an accredited mineral analysis laboratory. All samples
were analyzed for gold using standard Fire Assay-AA techniques.
Samples returning over 3.0 g/t gold were analyzed utilizing
standard Fire Assay-Gravimetric methods. Certified gold reference
standards, blanks, and field duplicates were routinely inserted
into the sample stream as part of Confederation's quality
control/quality assurance program.
About CFM
Confederation Minerals Ltd. is a British Columbia based company
engaged in the business of acquisition, exploration and development
of mineral properties. Its objective is to locate and develop
economic precious and base metals properties of merit.
Confederation Minerals Ltd. holds an Option Agreement to acquire up
to 70% of the Newman Todd project in the Red Lake Mining District
of Northern Ontario, as well as 100% ownership in another property
in the Red Lake Mining District of Ontario.
This press release was prepared by Lawrence Dick, Ph.D.,
P.Geo.and CEO
On Behalf of the Board:
"Brian Bapty"
Brian Bapty, Ph.D.
President and Director
CORPORATE INQUIRIES
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Brian Bapty, President and Director
604-652-3950
brian.bapty@confederationmineralsltd.com
http://www.confederationmineralsltd.com/
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Information
This news release includes certain statements that may be
deemed "forward-looking statements". All statements in this news
release, other than statements of historical facts, that address
events or developments that the Company expects to occur, are
forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "proposes", "project",
"potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Factors
that could cause the actual results to differ materially from those
in forward-looking statements include market prices, exploitation
and exploration successes, and continued availability of capital
and financing, and general economic, market or business conditions.
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 statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable securities laws, the Company
undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
Hole NT-155
Holes NT-156, NT-157,
NT-158, NT-159, NT-160
Click Image To View Full Size
Figure 1: Plan View of Property showing Drill Hole Locations
Click Image To View Full Size
Figure 2: Cross Section 1475 Showing Geology and Assay
Highlights
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