Copper Reef to Drill Seven Holes on New Discovery
March 17, 2017
Flin Flon, Manitoba, March 17, 2017............Copper Reef Mining Corporation (CZC.CSE) (the "Company") is pleased to announce that it has mobilized a drill to its North Star-Gold Rock property in Snow Lake area of Manitoba. The Company will drill seven holes in its New Discovery vein by the end of March as part of its 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 approximate 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 Oct. 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.
To date since 2003, 269 drill holes in six separate drill programs have been drilled on the North Star and Gold Rock vein systems. A National Instrument 43-101 report was carried out on North Star in 2005 by Roscoe-Postle and Associates but it is dated having used a gold price of $400 (U.S.) per ounce with a seven (7) g/t cut-off. To the north, the Gold Rock vein systems have seen 136 holes in three drill programs from 2008 to 2010, much of it as closely spaced zone drilling. No resources have been calculated under NI 43-101 for any of this Gold Rock drilling although through with the help of ORIX Geoscience of Toronto, the Company has started to work towards NI-43-101 for Gold rock as well as a new 43-101 for North Star by organizing a complete data base.
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.
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.