Target Area III - Milpillas
This area lies in the central-eastern edge of the Biricu claim abutting Minaurum Gold's Vuelcos del Destino Project. The target area consists of exposures of diorite-granodiorite porphyry, and other outlying smaller intrusions. Associated alteration includes minor marble, hornfels, incipient skarn, jasperoid, and iron oxide alteration.
Rocks samples returned from below detection to areas with multiple modestly strong gold anomalies to 1.27 grams per tonne with associated anomalies in pathfinder elements As, Co, Cr, Cu, Hg, Mo, Ni, Sb, and Zn. Based on anomalous results from early rock chip sampling, a large soil and rock chip grid was laid out which (only partially completed) yielded a 400 square meter Au anomaly in soils (10's-100's parts per billion gold), which has yet to be closed off to the south.
The Milpillas area shows no significant geophysical anomaly but remains a high priority drill target area based on exposed geology and associated anomalous geochemistry. Two drill holes totaling approximately 1,000 meters have been designed to test this target.
Target Area IV - Southern (La Curva)
The Southern target is an area of small stock exposures in the southern portion of the Biricu Project. This area appears to lie adjacent to and/or within the margins of an unmapped and possibly younger caldera (volcano) complex. This area was not included in the geophysical survey. The principle exploration target lies along a WNW-ESE trending granodiorite stock contact with adjacent Morelos Formation carbonates. Poor exposures of complex exoskarn (magnetite-serpentine) and associated retrograde ferruginous jasperoid occur over an area of approximately 400 square meters. These alteration types are nearly identical to those of Goldcorp Inc.'s Los Filos deposit.
Rock samples from retrograde exoskarn show gold values from below detection up to 0.664 grams per tonne with associated anomalies in pathfinder elements As, Co, Cr, Cu, Mo, Ni, Sb, and Zn. This is a high-priority drill target area based solely on alteration types and associated geochemistry. Two drill holes totaling approximately 1,000 meters have been designed to test this target.
Quality Control / Quality Assurance
All samples collected in 2012 were sent for 35-element ICP analysis to ALS Canada Ltd. The Company has implemented a quality assurance and quality control program to ensure that sampling and analysis of all samples is conducted in accordance with the best possible practices.
The exploration program is being carried out under the direction of David M. Jones, technical consultant to the Company. David M. Jones has over 30 years' experience in mineral exploration and project management. As Chief Geologist of Teck's Nukay Project from 1994- 1999, Mr. Jones is credited with the discovery of the Goldcorp's Los Filos gold-skarn deposit, which is located 10 km from the Biricu Project and became Mexico's largest gold producer in 2010. Application of his model to other properties in the region dramatically expanded the conceptual extent of the Guerrero Gold Belt and led to the discoveries of El Limon and Los Guajes, also major gold-skarn deposits. Mr. Jones has published numerous technical articles and is considered to be the foremost expert on Guerrero Gold Belt type deposits. Mr. Jones has worked extensively throughout the Guerrero Gold Belt for clients including Teck, Wheaton River, Goldcorp, Penoles, Grupo Mexico, Torex, and a number of other Canadian juniors.
The technical content of this news release has been reviewed by and has been verified by and is the responsibility of Richard Graham, P. Geol., who is a Qualified Person as defined in NI 43- 101.
About Citation Resources
Citation Resources Inc. is a growth-oriented, Canadian mining company dedicated to the exploration and development of precious and base metal resources. Citation is based in Vancouver, British Columbia and aims to create shareholder value through the acquisition, exploration, and development of profitable mineral properties, in a manner that is consistent with best practice in environmental stewardship, safety and stakeholder engagement. The Company has an option agreement with Esperanza Resources Corp. to acquire a 100% interest in the Biricu Project mineral exploration concession located in Guerrero State, Mexico. The Biricu Project comprises more than 41,000 hectares of highly prospectable ground and management believes that the Biricu Project is the direct on-strike extension of five skarn deposits in the Guerrero Gold Belt (El Limon-Los Guajes - Torex Gold Resources Inc.; Bermejal, Los Filos, and Nukay - Goldcorp Inc.; Ana Paula - Newstrike Capital Inc.).
Some statements in this report contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, expenditures, transactions and financings. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, risks related to actual results of exploration activities, the timing and amount of expenditures and the completion of transactions and financings.
ON BEHALF OF THE BOARD OF DIRECTORS
CITATION RESOURCES INC.
Nigel Kirkwood, CFO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Citation Resources Inc.
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