Central Timmins Exploration Corp. Provides
Central Timmins Exploration Corp. Provides
Update on Recent Work and Details of 2019
Work Program
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TORONTO
,
Jan. 21, 2019
/CNW/ -
Central Timmins Exploration Corp.
("CTEC" or the
"Company") (TSXV: CTEC) is pleased to announce the results of a four-diamond drill hole program
to confirm the geology of the 1939 Dictore Porcupine Gold Mines Ltd. historical diamond drill hole #5
("DDH#5") in
Deloro Township
. Gold assays ranged from 0.10g/t to 3.94g/t over narrow widths. The
best assay in CTEC's DDH #1 was from a pyritic zone, which assayed 3.94g/t Au over
0.5m
from
222.8m
to
223.3m
down the hole. CTEC's DDH #1 was drilled to follow up on the 1.8g/t to 3.2g/t
Au values hosted within three distinct zones totalling
45.2m
in width reported in historical DDH #5.
CTEC holes DDH #2 and DDH #3 were drilled at right angles to DDH #1 and intersected anomalous
Au ranging from 10 ppb to 300 ppb. The wide induced polarization ("IP") and strong magnetic
responses seen were due to considerable widths of 2% to 3% sulphides and up to three parallel iron
formations, each with various percentages of pyrrhotite mineralization.
DDH #4 tested a similar IP, magnetic and VLF EM target
200m
to the southwest of DDH #1. Iron
formations of varying widths and pyrrhotite content explained the geophysical responses.
In parallel with the late-2018 drilling, CTEC management and consultants have outlined an additional
26 potential drill targets that are currently being prioritized; eight in
Deloro
and
Ogden
townships on
the south side of the Destor Porcupine Fault Zone ("DPFZ"), 15 in
Mountjoy Township
and three in
northwest
Godfrey Township
north of the DPFZ. A small amount of confirmation ground geophysics
will also be carried out concurrently with the drill program. See Figure 1 - CTEC Project Location
Map.
In preparation for the resumption of drilling, CTEC geologists are also relogging and sampling 12 NQ
diamond drill holes that were drilled in 2017 by the previous owner of the property as part of the
Faymar Mine Crown Pillar Study. The Faymar geology is the same as CTEC DDH #1 to DDH #3
holes with the addition of a
1.5m
wide quartz vein that was mined at approximately a 6.0 g/t Au head
grade. The Faymar geotechnical holes were not split or assayed and have been stored in a secure
trailer since logging. The Faymar assays of the main vein plus the hanging wall and footwall rocks
will give CTEC geologists a better template to revaluate the CTEC DDH #1 to DDH #4 drill hole
results.
CTEC now has a modern data base of 6,000 MMI geochemical samples each assayed for 53
elements, that have helped identify targets. Anomalous MMI sample areas have been plotted over
airborne magnetic and EM anomalies that have never been drill tested. For example, the centre of
Mountjoy Township
has been mapped as non-mineralized sediments for the past approximately 100
years, with good EM anomalies dismissed as graphite horizons. MMI sampling, 81 historic RC holes
plus information from an additional 20 diamond drill holes indicate that the sediments host major
porphyry zones,
Tisdale
volcanics and ultramafic rocks within a 3 km wide carbonate alteration zone.
Charles Gryba
, President, CEO and Director of CTEC stated "Re-drilling the Dictore Porcupine DDH
#5 area has intersected anomalous gold values and suggests that there is a widespread gold
system in
Deloro Township
on the south side of the DPFZ. We will revisit the area once the Faymar
assay results are known and we have a better understanding of the gold halo around the Faymar
vein system.
The best gold anomaly that CTEC obtained in the 2018, 1,700 sample MMI geochemical sampling
program south of the DPFZ sits directly on a deep IP anomaly. This will be the next target drilled,
with CTEC's DDH #5 expected to be collared before the end of January. The CTEC drill program will
then start testing drill targets in
Mountjoy Township
, with the objective of locating the more northern
gold horizon of the Timmins Camp parallel gold system. The
Timmins
gold camp hosts two almost
continuous east-west parallel gold systems through four townships covering a 30km strike length and
hosting numerous historic and present mining operations. CTEC is looking to identify economic
mineralization in the gap areas of these zones both north and south of the DPFZ. CTEC drilling in
2019 will be very interesting."
CTEC has a comprehensive Quality Assurance/Quality Control program in place covering all its core
assaying. The program is supervised by an independent Qualified Person.
Mr.
John Sullivan
, B.Sc., P. Geo, independent director of CTEC, has acted as the Qualified Person,
as defined in NI 43-101, with respect to the disclosure of the scientific and technical information
relating to exploration results and future plans contained in this press release.
Figure 1 – CTEC Project Location Map (CNW Group/Central Timmins Exploration Corp)
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian-based junior exploration company with property exclusively in the
Porcupine Mining District and within the City Limits of
Timmins
in the northeastern region of
Ontario
.
The Company's assets are prospective for gold as well as a suite of base metals. See the company
website at
www.centraltimmins.com
.
Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities
laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking
information" includes statements that use forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or
comparable terminology.
Forward-looking information is not a guarantee of future performance and is based upon a number
of estimates and assumptions of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and unknown risks, uncertainties and
other factors which may cause the actual plans, intentions, activities, results, performance or
achievements of the Company to be materially different from any future plans, intentions, activities,
results, performance or achievements expressed or implied by such forward-looking information.
See "Risk Factors" in the Company's final prospectus dated
October 4, 2018
filed on SEDAR at
www.sedar.com
for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such
information. Accordingly, investors should not place undue reliance on forward-looking information.
Except as required by law, the Company does not assume any obligation to release publicly any
revisions to forward-looking information contained in this press release to reflect events or
circumstances after the date hereof.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE
Central Timmins Exploration Corp
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For further information:
Central Timmins Exploration Corp., Charles Gryba, President, CEO &
Director, [email protected], Tel: 416-801-6366; Elaine Einarson, Investor Relations,
[email protected], Tel: 604-614-8469
CO: Central Timmins Exploration Corp
CNW 07:00e 21-JAN-19