Crestview Exploration Announces Results from the 2022 HSAMT Survey at the Rock Creek and Falcon Gold Prospects in Elko County, Nevada
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NR: 1-011723 CSE: CRS – FRA: CE7
Crestview Exploration Announces Results from the 2022 HSAMT Survey at the
Rock Creek and Falcon Gold Prospects in Elko County, Nevada
Calgary, Canada January 17, 2023 – Crestview Exploration Inc. (CSE: CRS, Frankfurt: CE7)
(“Crestview” or “the Company”) is pleased to announce the results from the 2022 Hybrid-Source Audio
Magnetotellurics (HSAMT) survey at the Rock Creek and Falcon gold-silver prospects in the Tuscarora
Mountains of Elko County, Nevada. Four survey lines were carried out at Rock Creek and one lines was
conducted at Falcon, for a total of approximately 6,800 meters surveyed. Please refer to Table 1 for line
length and location coordinates.
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 dominant structural fabric in the area. Please refer to Figure 1 for
approximate locations and corresponding surface geology at Rock Creek. The four lines at Rock Creek
were widely spaced across the length of the property, and the Falcon line was chosen to offset the inherited
Falcon CSAMT data in the area of the historic mine.
The survey penetrated to approximately 800 meters depth, providing strong indicators for major structural
and possible lithological changes. The uninterpreted figures for the line data is provided in Figures 2-6.
Figure 1
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 data with the other results taken to date, including the 2022
high-resolution mapping at Rock Creek. The surface lithologies and interpreted stratigraphic sections are
being utilized to interpret possible lithology/Formation changes. Additionally, the vertical/sub-vertical
structures (which reach the surface) in the HSAMT sections correspond well with the mapped faults.
There appear to be deep-penetrating anomalies in all of the HSAMT sections, which may represent
favorable structures for hydrothermal fluid flow and subsequent alteration and mineralization. There is also
a marked horizontal contrast in resistivity at Rock Creek, approximately below the 1,700-1,800 meter mark
where the contour spacing begins to widen significantly. This contrast may represent a paleosurface
between the upper volcanic sequence and the underlying Paleozoic metasedimentary sequence.
The section at Falcon corresponds well with the nearest CSAMT section Crestview inherited with the
Falcon data (Ironwood Gold Corp.: Preliminary Assessment of Falcon Mine Property, 2012). In the
inherited report, the low-resistivity signal at depth (below approximately 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 data collected to date to update and finalize drill targets for the 2023
program. The company aims to drill between 8,000 to 12,000 feet at Rock Creek, and another 2,000 to
3,000 feet at Divide in the coming field season.
Crestview’s CEO, Chris Wensley, commented, “we are very encouraged and excited by what we are seeing
in the HSAMT data and how it corresponds with our mapping efforts. Crestview has now accomplished all
of the preliminary work set out ahead of drilling at Rock Creek, including mapping, sampling, and
collecting geophysical and geochemical data. We are now in a position to pick the best possible drill targets
at Rock Creek, and we are eager to test the targets 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 NI 43-101 and has reviewed the scientific and technical
disclosure included in this news release.
On Behalf of the Board of Directors,
Chris Wensley, CEO
About Crestview Exploration Inc:
Crestview Exploration is an experienced exploration company focused on the exploration and development of its
portfolio of gold and silver properties located in prolific mining districts of Nevada.
The Rock Creek gold project is Crestview's flagship asset, with 74 unpatented lode mining claims wholly owned and
controlled by CRS. The Rock Creek property was acquired in 2017, and the company went public in 2019. Emboldened
by the results coming out of Rock Creek, Crestview strategically expanded on the land position with the acquisition
of the nearby Divide Mine prospect in April 2020, and the acquisition of the Falcon silver-gold prospect in September
2022. Between the three properties, all targeting similar mineralization and likely the same hydrothermal system,
Crestview now holds 260 total claims in close proximity of one another. These three gold prospects, along with the
nearby Castile prospect, 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-grade gold-silver deposits is
favorable.
The Cimarron project is located in the San Antonio Mountains of Nye County, Nevada, and is comprised of 31
unpatented lode mining claims, including control of 6 historically producing claims associated with the historic San
Antonio mine. The property is located in the prolific Walker-Lane trend, approximately 44 kms south of the "world
class" Round Mountain deposit.
For further information please contact:
Chris Wensley, Chief Executive Officer
Tel: 1-778-887-3900
Email: [email protected]
Forward-Looking Information
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