ST. JOHN'S, NEWFOUNDLAND -- (Marketwired) -- 04/24/13 -- Canada Fluorspar Inc. (TSX VENTURE: CFI) ("CFI" or the "Company") is pleased to announce the second set of assay results from three holes on its Phase 1 diamond drilling program along the northern section of the Director Vein beneath the Aluminum Company of Canada's ("Alcan") old mine workings. The assay results from the first two drill holes of the Company's Phase 1 diamond drilling program were disclosed by press release on March 12, 2013.
One of the three drill holes, DS-13-102, is located approximately 150 metres north from the old Alcan mine workings of the Director Vein. This drill hole was collared with an azimuth of 053.4 degrees (GN) and an inclination of -60 degrees, and intersected the Director Vein structure and returned an assay value of 0.78% CaF2 over 4 metres with one metre of core recovered over four metres. Drill holes DS-13-103 and DS-13-104 are located approximately 854 metres and 232 metres, respectively, south of drill hole DS-13-102. Both drill holes were collared with azimuths of 053.4 degrees (GN) and inclinations of -60 degrees, intersected the Director Vein structure and returned assay values of 49.32% CaF2 over 10.03 metres in hole DS-13-103 and 0.23% CaF2 over 3 metres with 1.5 metres of core recovered over 3 metres in hole DS-13-104.
Lindsay E. Gorrill, CEO of Canada Fluorspar Inc., stated, "We are encouraged by the results to date from our drilling program at Director. It is significant to note that the low grade intersections are actually 1,460 metres apart and we lost 75-90% of the core which could be the cause of the low grade. We are currently waiting for assays on one more drill hole to complete this northern section and have 16 holes drilled in the south extension, as identified on the enclosed map, awaiting assay results."
The fluorite mineralization in the north-south trending veins at the St. Lawrence Project and the Company's 100% owned mineral license occur in the form of massive mineralization and as fault gouge. Historically, core drilling of the massive mineralization has resulted in good core recovery. The areas of faulted mineralization generally contain finely ground fluorite and larger fragments of the harder siliceous material. Drilling through the faulted zones commonly results in poor core recovery as the fine grained fluorite material in the vein is washed out by the drill fluid. Both drill holes, DS-13-102 and DS-13-104, successfully intersected the Director Vein structure, however, due to the fine nature of the vein material, core recoveries in the structure ranged from 25-30% and 3-10% in DS-13-102 and DS-13-104, respectively. Past underground mine operations document the high grade, fine, sandy fluorite mineralization in the vein structure. It is not known whether the vein opens up again down depth because there are no drill holes below DS-13-102.
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/canada_fluorspar_fig01_apr24.pdf
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