TORONTO, ONTARIO — (Marketwire) — 03/19/12 — Cogitore Resources Inc. (the „Company“) (TSX VENTURE: WOO) is pleased to report results from a 50 metre step-out hole completed east of the high-grade „34“ Zinc Zone (35,000 tonnes at 23.6% zinc). Hole SC-72 intersected:
Hole SC-72
The location of hole SC-72 is shown on Figure 1, available at the following link: .
All of the above assay intervals are weighted averages of several individual assays. Massive sulphides make up 35 metres surrounded by stringer-type mineralization above and below. True thickness of the massive sulphide is estimated to be 95% to 100% of the core length. The top of the intersection is located approximately 370 metres below surface.
Hole SC-72 was drilled to resolve a question of whether mineralization in the high-grade „34“ Zinc Zone is more stratigraphically related to West Lens or Central Lens. The presence of a zinc-rich top in SC-72 indicates that „34“ Zinc Zone is related to West Lens.
The subject intercept is in line with the block model interpretation made by Roscoe Postle Associates (RPA) in conducting an upgraded NI43-101 report it 2011. However, the overall grades and thicknesses obtained in SC-72 are substantially higher than the nearest holes on the West Lens (SC-34, SC-40, SC-42, all previously press released).
Between 2010 and 2011 the Company increased compliant resources by 50% and the copper grade by 10%. Although the impact of SC-72 to the existing resources has not been estimated, the location of the SC-72 intercept opens up a significant area for potential expansion of massive sulphide mineralization to the south as well as east. Long term, thicknesses like those in holes SC-72 and in other sectors of the RPA bloc model permit consideration of various low cost bulk mining methods.
Company President and CEO Dr. Gerald Riverin says „Cogitore will seek to add shareholder value through growth of the resources and grade of four mineralized lenses associated with the host Scott Rhyolite, such as hole SC-72, along with providing the excitement of blue sky exploration potential of the nearby but under drilled Tony Rhyolite which already hosts the copper-rich CFO Lens discovered in 2010. The current ratio of drill holes between the Scott and Tony rhyolites is about 20:1 and there is therefore lots of space over the two kilometre strike length and opportunities to discover new zones“.
The Scott Lake project is located in the Chibougamau mining camp, Quebec, which is a natural resource based community serviced by rail, paved highways and regularly scheduled air service. Major forestry roads and hydro transmission lines traverse the Scott Township property. In the 1950-s and 1960-s Chibougamau was one of Canada-s largest copper producing districts.
All drill core discussed in this press release was logged and marked up for assay at the Company-s secure facility in Chibougamau, Quebec. Drill core for assay was sawn in half. Half of the core was shipped in sample bags to ALS Minerals laboratories of Val d-Or, Quebec, with appropriate standards, duplicates and replicates used for quality control purposes. The other half of the core is retained for future reference and metallurgical studies.
Work is carried out by the Company-s personnel, under the supervision of Gerald Riverin, PhD, P.Geo. He is a qualified person (as defined by National Instrument 43-101) and has more than 35 years of experience in VMS exploration.
The Company has developed a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it will focus its work in the Abitibi Belt of Quebec and Ontario.
Caution Regarding Forward-Looking Information
This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release, include, but are not limited to, economic performance and future plans and objectives of the Company. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Cogitore believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this new release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. Cogitore disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Gerald Riverin President & CEO 819-764-6666
Mark Goodman 416-924-9893, ext. #4152
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