Copper Reef Completes Winter Drilling of New Discovery
April 19, 2017
Flin Flon, Manitoba, April 19, 2017......Copper Reef Mining Corporation (CZC.CSE) (the "Company") is pleased to announce that it has completed its winter drill program on its North Star-Gold Rock property in Snow Lake area of Manitoba. The Company drilled seven holes in its New Discovery vein and attempted an eighth hole but spring conditions caused the company to abandon the hole for now. The program including mobe in, ran from March 16 to March 31. This was the first phase of a larger drill program in the Gold Rock Vein area. Drilling of the New Discovery area is better facilitated in winter due to access. The planned Phase II will concentrate on the Gold Rock Vein system to the west which has year round access.
The New Discovery vein is on a separate parallel structure approximately 300m east of the North Star-Gold Rock structure and is virtually unexplored along a strike length of 4 km. The Discovery vein itself has been traced for 80m in outcrop before striking under muskeg to the north and south. A mapping and prospecting program in the area of the new vein returned gold values up to 93.44 grams per tonne gold from grab samples collected this past fall (press release dated October 4, 2016). At the south of end of the vein, an old pit 3 by 4 meters was found, circa 1920's, where a 2m wide mineralized vein is fully exposed. There is no record of this vein or pit.
This winter's 7 holes were completed in the New Discovery vein with intercepts of quartz veining ranging from 2.03 m (6.66 ft.) to 3.68 m (12.07 ft.), (70-85% true width) in the four southern-most holes. All southern holes contained locally galena which is associated with higher gold grades from surface sampling. Visible gold was only noted in two of the southern holes. The northern three holes encountered only stringer mineralization suggesting a narrowing of the structure in this area. Only one of the northern holes contained a single fleck of visible gold over a narrow stringer zone of 4 cm.
An attempt was made to drill a eighth hole beneath the most southern and widest exposure of the vein at surface (2 meters), but had to be abandoned for now, due to spring thaw and deteriorating road conditions. This summer, dryer conditions may permit drilling this hole and others in the New Discovery area. The drill holes are currently being logged with intersections to be diamond sawed length wise in half with one half sent to TSL Laboratories in Saskatoon. More details on the drilling will be released once the logging is completed and on return of the assay values from the veined sections of the core, which are expected by May.
The drill program is fully permitted and Copper Reef has been awarded a Manitoba government mineral exploration assistance grant (MEAP) for $109,347 upon completion of exploration work totaling $218,694 on the North Star-Gold Rock project. This work commitment will have been met once the assays are in and the drill report completed.
Stephen Masson P.Geo. is the qualified person under National Instrument 43-101 for reporting these preliminary facts on the drilling and has examined all intersections both in the field and at Copper Reef's core logging facility.
Stephen L. Masson M.Sc. P.Geo.
President & CEO
ABOUT COPPER REEF MINING CORPORATION
The Corporation is a Canadian junior mineral exploration company with a specific focus on mineral properties in Northwest Manitoba and Northeast Saskatchewan, Canada. All of the Company's properties are currently at the exploration stage. The Company does not have any long-term debt and has assembled a portfolio of base metal and precious metal prospects, including strategic locations in the Provinces of Manitoba and Saskatchewan. The Company holds Royalties on Foran Mining's large Hanson Lake property, which hosts the large polymetallic Zn Cu Ag Au McIlvenna deposit and their Bigstone deposit, and Balsam Deposit in addition to properties held by others.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.