Vancouver, B.C.; Oct 2nd,
2013; Confederation Minerals Ltd. (TSX.V:CFM; OTCQX:CNRMF):
("Confederation" or the "Company") is pleased to announce
assay results from the final four holes of the 2013 summer drilling
program at their Newman Todd gold project in the Red Lake District,
northern Ontario. Drilling has continued to focus on the
approximately 2 km-long, gold-bearing structural-alteration 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).
All four holes reported on
here were drilled in the southwest of an area known as the 'Hinge
Zone', close to its boundary with the 'Heath Bull Zone'. Drill
holes NT-161 and NT-162 were collared at the same location,
approximately 60 m to the northeast of holes NT-156 to NT-160, the
results of which were previously reported on in the Company's news
release dated September 20th, 2013. Both holes were orientated
towards the southeast at angles of -45 and -55 degrees, with drill
hole NT-162 angled the steepest of the two. Hole NT-161
intersected 1.5 meters of
5.13 g/t gold and 0.5 meters of 20.0 g/t gold.
Highlights from drill hole NT-162 include 10.0 meters grading 7.43 g/t gold, including
0.5 meters at 128.0 g/t gold, and 6.0 meters grading 4.57 g/t gold
including 0.5 meters at 49.10 g/t gold.
Drill holes NT-163 and NT-164 were
also collared at the same location, approximately 50 m to the
northeast of holes NT-161 to NT-162. Both holes were orientated
towards the southeast at angles of -45 and -60 degrees, with drill
hole NT-164 being the steeper of the two. Highlights from drill
hole NT-163 include 5.0 meters
grading 3.41 g/t gold, including 0.5 meters at 18.90 g/t
gold. Hole NT-164 was weakly anomalous but stopped
short of the target depth.
Assay highlights from this most
recent drilling are listed below in Table 1. The locations of these
four holes are shown on Figure 1.
For a complete description of the
geological setting, local geology, a list of drill holes completed
to date along with assay highlights for all drill holes, please
refer to the Company's website at www.confederationmineralsltd.com.
----------------------------------------------------------
|HoleID| |From (m)|To (m) |Width (m)|Au (g/t)|
|--------------------------------------------------------|
|NT-161| |82.0 |83.0 |1.0 |5.30 |
|--------------------------------------------------------|
|NT-161|and |121.5 |123.0 |1.5 |5.13 |
|--------------------------------------------------------|
|NT-161|and |149.0 |149.5 |0.5 |3.00 |
|--------------------------------------------------------|
|NT-161|and |172.0 |172.5 |0.5 |20 .00 |
|--------------------------------------------------------|
|NT-162| |12.0 |13.0 |1.0 |3.66 |
|--------------------------------------------------------|
|NT-162|and |63.0 |73.0 |10 .0 |7.43 |
|--------------------------------------------------------|
|NT-162|including |63.0 |64.0 |1.0 |3.86 |
|--------------------------------------------------------|
|NT-162|and including|71.0 |71.5 |0.5 |128 .00 |
|--------------------------------------------------------|
|NT-162|and |91.0 |97.0 |6 .0 |4.57 |
|--------------------------------------------------------|
|NT-162|including |91.0 |91.5 |0.5 |49.1 0 |
|--------------------------------------------------------|
|NT-162|and |122.5 |123.0 |0.5 |5.47 |
|--------------------------------------------------------|
|NT-163| |27.0 |28.0 |1.0 |3.97 |
|--------------------------------------------------------|
|NT-163|and |83.0 |88.0 |5.0 |3.41 |
|--------------------------------------------------------|
|NT-163|including |85.5 |87.0 |1.5 |9.97 |
|--------------------------------------------------------|
|NT-163|and including|85.5 |86.0 |0.5 |18.9 0 |
|--------------------------------------------------------|
|NT-163|and including|86.0 |87.0 |1.0 |5.51 |
|--------------------------------------------------------|
|NT-164|No significant results. | | |
| |Anomalous throughout | | |
----------------------------------------------------------
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.
The 2013 summer diamond drilling
program at Newman Todd is now complete. In total, 3,861m in 14
holes were completed.
Exploration at Newman Todd during
the period also included the stripping and trenching of
shallowly-buried sub-crop in the Hinge Zone near drill hole collars
NT-122, NT-123 and NT-124. Mapping and sampling of the
newly-exposed bedrock has been completed and is providing valuable
information regarding the structural controls on
mineralization.
The outcrops exhibit intense
silica-carbonate alteration affecting sulphide-mineralized
stromatolitic carbonate beds, hosting intense NW-striking quartz
veining.
Company CEO Lawrence Dick, Ph.D.,
P.Geo. states: "Total drilling on the property now totals 54,796
meters in 164 holes over approximately 1.8 km of strike length
within the highly-altered, gold-bearing NTS. Total drilling by
Confederation at Newman Todd during 2011, 2012 and 2013 now totals
42,644 meters in 110 holes.
Confederation's objective is to use
this period of hiatus in drilling, before freeze-up, to continue to
thoroughly interpret all geological, structural and geochemical
information to refine our exploration model. Given the fact that,
over a strike length of approximately 1.8 km, nearly every drill
hole has intersected gold mineralization of 3 g/t and higher (with
over 40 percent of the holes intersecting mineralized intervals of
20 g/t and higher), Newman Todd contains a very high provenance of
gold. Our challenge is to use all of the information we have
gathered to date to develop an exploration model with predictive
power, and to focus in on those areas of highest-grade, and
largest-tonnage, accumulations.
For exploration efficiency, and as
an aid in stretching our exploration dollars, we benefit from the
fact that the Newman Todd mineralization comes to surface and that
very significant tonnages of gold-bearing mineralization may
potentially be delimited at shallow depths."
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.
Click Image To View Full Size
Figure 1: Plan View of Property showing Drill Hole
Locations
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