ST. JOHN'S, NEWFOUNDLAND -- (Marketwired) -- 07/02/13 -- Canada Fluorspar Inc. (TSX VENTURE: CFI) ("CFI" or the "Company") is pleased to announce assay results from four (4) holes on its Phase 2 diamond drilling program along the southern extension of the Director Vein. The assay results from the previous eleven (11) drill holes from the Company's Phase 1 and Phase 2 diamond drilling program were disclosed by press releases on March 12, 2013, April 24, 2013, and May 8, 2013 and June 5, 2013.
All four drillholes, DS-13-110, DS-13-111, DS-13-112 and DS-13-136, are located on the same cross-section at 1,500 metres south of the old Aluminum Company of Canada ("Alcan") shaft and 223 metres north of the previously reported holes from the June 5, 2013 press release. Hole DS-13-110, the shallow hole, was collared with an azimuth of 050 degrees (GN) and an inclination of -60 degrees, and intersected the Director Vein structure returning average assay values of 65.8% CaF2 over 3.17 metres from 44.23 metres to 47.40 metres measured depth. Drill hole DS-13-111 was collared with an azimuth of 050 degrees (GN) and an inclination of -65 degrees and intersected the Director Vein structure returning average assay values of 91.3% CaF2 over 2.42 metres from 79.80 metres to 82.22 metres measured depth. Hole DS-13-112, the 3rd deepest hole in the plane, was collared with an azimuth of 050 degrees (GN) and an inclination of -80 degrees and intersected the Director Vein structure returning average assay values of 43.0% CaF2 over 2.95 metres from 135.77 metres to 138.72 metres measured depth. Drillhole DS-13-136, drilled from east to west and the deepest of the four holes in the plane, was collared with an azimuth of 228 degrees (GN) and an inclination of -57 degrees and intersected the Director Vein structure returning average assay values of 81.3% CaF2 over 0.70 metres from 207.80 metres to 208.50 metres measured depth and a second vein was intersected in the structure returning average assays of 37.0% CaF2 over 6.16 metres from 216.50 metres to 224.66 metres measured depth, not including 0.30 metres of lost core in the intersection.
"The assays from these four holes as well as previously reported holes, DS-13-115, DS-13-116, DS-13-120, DS-13-121 and DS-13-122 are encouraging in that the southern extension of the Director Vein in this area is now known to extend from surface to a projected depth that range from 75 to 150 metres and along a projected north-south strike over 320 metres with grades and widths that would categorize the mineral resources as mineable," stated Lindsay E Gorrill, President & CEO of Canada Fluorspar Inc.
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 gouge zones commonly results in poor core recovery as the fine grained fluorite material in the vein is washed out by the drill fluid. Drill hole DS-13-136 successfully intersected the Director Vein structure; however, due to the fine nature of some of the vein material, core recovery in the structure was 95%. Past underground mine operations document the high grade, fine, sandy fluorite mineralization in the vein structure.
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