Assays on these drill holes were carried out at SGS Lakefield Laboratories ("SGS") of Lakefield, Ontario, using the Ion Selective Electrode method to determine the fluorite content in the low-grade samples and the Dual Calcium method for samples expected to contain high-grade values (i.e., those with significant visible fluorspar in the drill core).
Quality Assurance and Quality Control ("QA/QC")
Check assay work by CFI includes insertion of duplicate samples and blanks with regular batches of mineralized samples of drill core. QA/QC work is also done at SGS, and results are reviewed and verified by CFI personnel. An independent geological consultant (Qualified Person) has submitted additional samples collected from the drill core for analyses.
Phase 1 of the current exploration program is designed to assess the northern extension of the Director Vein structure. The six drill holes with assay results to date have shown that the fluorspar mineralization at the Director Vein extends further along strike and at depth from the old Alcan workings.
Phase 2 of the 2013 exploration program has been designed to evaluate the southern extension of the Director Vein. A trenching program and a geophysical survey conducted in the area during 2012 identified the structure over a strike length of 1,000 metres. The current drill program was planned to evaluate the mineral potential, at depth, of the southern extension of Director Structure and to test the north extension of the adjacent Hares Ears Vein to the west.
Historic mining operations by Alcan on the property produced in excess of 4.2 million tonnes of fluorspar during a 44 year continuous production from 1942 to 1977. Production resumed in 1986 and continued until 1991, when St. Lawrence Fluorspar Limited reopened the nearby Blue Beach North Mine and processed 440,000 tonnes of fluorspar ore from small open pits, one of which was located in a surface pillar at the Director Mine near the main shaft.
Initial exploration information regarding the 2013 exploration program at Director Vein was included in the Company's press releases dated January 16, 2013 and March 12, 2013.
To date, six (6) Phase 1 drill holes have been completed together with 26 additional drill holes in Phase 2 (19 holes in south extension Director Vein and 7 holes at Hares Ears Vein) of the 2013 exploration program. Assay results for remaining completed drill holes in Phase 2 are pending.
Historic exploration data indicates that there are more than forty mineralized veins within the CFI property. The three prominent vein structures, however, are the Director Vein, Blue Beach North Vein, and the Tarefare Vein. Probable Reserves of the Blue Beach North and Tarefare veins total approximately 5.4 million tonnes at an average grade of 39.8% CaF2. These Mineral Reserves have been outlined to a vertical depth of 300 metres below the surface, but fluorspar mineralization extends further at depth. The key assumptions, parameters and methods used to estimate the Mineral Resources and Mineral Reserves, as well as other relevant information, including data verification, with respect to the Blue Beach North and Tarefare veins can be found in a NI 43-101 Technical Report prepared by the Roscoe Postle Associates Inc. dated March 6, 2013, which has been filed by the Company on SEDAR (www.sedar.com).
About the Company
The Company is a specialty mineral resource company engaged in the development of fluorspar deposits located in St. Lawrence, Newfoundland, Canada, and is reactivating the existing Blue Beach North and Tarefare underground fluorspar mines, expanding the existing mill, constructing a new, environmentally-sound Tailings Management Facility through Newspar, which it's a 50/50 joint venture with Arkema. The Company is also building a new deep-water marine terminal in the outer St. Lawrence Harbour for the export of fluorspar concentrate product.
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