Vancouver, B.C.; August 28th,
2013; Confederation Minerals Ltd. (TSX.V:CFM; OTCQX:CNRMF):
("Confederation" or the "Company") is pleased to announce
assay results from three additional holes of their 2013 summer
drilling program at their Newman Todd gold project in the Red Lake
District, northern Ontario. Confederation has the right to earn a
70% interest in the project from Redstar Gold Corp. (TSXV:RGC).
Holes NT-152, NT-153 and NT-154 were
drilled into the structural zone known as the Newman Todd Structure
("NTS") in the northeast of an area referred to as the "Hinge
Zone". The NTS is a zone of quartz-carbonate alteration and
brecciation reaching over 200 meters in width and exceeding 2 km in
strike length within the property boundaries. Highlights include
wide intervals such as 3.0 meters grading 12.42 g/t gold; 9.50
meters grading 10.39 g/t gold; 4.0 meters grading 15.70 g/t gold;
as well as shorter intervals grading up to 98.6, 28.8, 35.0, 57.05,
and 103.0 g/t gold respectively. Much wider, lower-grade intervals,
such as 13.0 meters grading 3.11 g/t gold are potentially
indicative of halos to higher-grade mineralized sections or
"shoots".
For a complete description of the
geological setting, local geology, a list of drill holes completed
to date along with assay results for all drill holes, please refer
to the Company's web site at www.confederationmineralsltd.com.
Results from the first drill hole of the current drilling phase
were reported on in a press release issued by the Company on August
23, 2013. Included in this previous press release are potential
"going forward" plans for advancing the exploration on this
advanced-stage, gold-bearing discovery, and the reader is referred
to that recent document.
The most recent, and up-to-date
results returned from the on-going Newman Todd drilling are listed
below:
---------------------------------------------------------
|Hole | |From (m)|To (m)|Width (m)|Au (g/t)|
|ID | | | | | |
|-------------------------------------------------------|
|NT-152| |253.0 |254.0 |1.0 |3.26 |
|-------------------------------------------------------|
|NT-152|and |264.0 |269.0 |5.0 |3.97 |
|-------------------------------------------------------|
|NT-152|including |264.0 |264.5 |0.5 |26.50 |
|-------------------------------------------------------|
|NT-152|and |287.0 |288.0 |1.0 |98.60 |
|-------------------------------------------------------|
|NT-153| |67.0 |70.0 |3.0 |12.42 |
|-------------------------------------------------------|
|NT-153|including |67.0 |68.5 |1.5 |17.16 |
|-------------------------------------------------------|
|NT-153|and including|68.0 |68.5 |0.5 |28.80 |
|-------------------------------------------------------|
|NT-153|and |178.0 |179.0 |1.0 |4.48 |
|-------------------------------------------------------|
|NT-153|and |231.0 |240.5 |9.5 |10.39 |
|-------------------------------------------------------|
|NT-153|including |232.5 |233.0 |0.5 |35.00 |
|-------------------------------------------------------|
|NT-153|and including|236.5 |240.5 |4.0 |15.70 |
|-------------------------------------------------------|
|NT-153|and including|238.0 |239.0 |1.0 |57.05 |
|-------------------------------------------------------|
|NT-153|and including|238.0 |238.5 |0.5 |103.00 |
|-------------------------------------------------------|
|NT-153|and including|240.0 |240.5 |0.5 |6.91 |
|-------------------------------------------------------|
|NT-154| |37.0 |38.0 |1.0 |3.47 |
|-------------------------------------------------------|
|NT-154|and |44.0 |45.0 |1.0 |3.11 |
|-------------------------------------------------------|
|NT-154|and |122.0 |123.0 |1.0 |4.31 |
|-------------------------------------------------------|
|NT-154|and |130.0 |143.0 |13.0 |3.11 |
|-------------------------------------------------------|
|NT-154|including |133.0 |134.0 |1.0 |4.25 |
|-------------------------------------------------------|
|NT-154|and including|137.0 |138.0 |1.0 |7.70 |
|-------------------------------------------------------|
|NT-154|and including|142.0 |143.0 |1.0 |16.70 |
|-------------------------------------------------------|
|NT-154|and |182.0 |183.0 |1.0 |3.07 |
|-------------------------------------------------------|
|NT-154|and |205.0 |209.0 |4.0 |3.28 |
|-------------------------------------------------------|
|NT-154|and |280.0 |281.0 |1.0 |3.23 |
---------------------------------------------------------
Table 1: Significant Results
* Width
is calculated as core length and does not imply true
width of the zone. Weighted average gold intervals apply a 0.20 g/t
lower cut-off. Internal dilution within reported intervals does not
exceed core lengths of 3 metres unless otherwise
indicated.
Locations of the three holes
summarized above are shown on Figure 1 below, with drill highlights
and geological interpretations illustrated on Figures 2 and 3,
which represent cross sections through the NTS looking
north-east.
Assays from additional holes will be
reported on as they are received from the laboratory and have
passed quality control criteria implemented by the Company.
Company CEO Lawrence Dick, Ph.D.,
P.Geo. states "our drilling continues to intersect significant
gold-bearing zones in virtually every drill hole completed, now
over a strike length of approximately 1.8 km, attesting to the
enormous tenor of gold in the Newman Todd gold-bearing system. With
continued new data being returned from on-going drilling,
geological interpretations indicating continuity of gold-bearing
zones within the large Newman Todd mineralized system are beginning
to take shape, allowing the planning of more efficient, and
geologically-predictive drill hole placing."
Drill Hole
Locations
Drill hole NT-152 was drilled
approximately 25 east-northeast of hole NT-151 (as reported in the
Company's last press release dated August 23rd, 2013), at an angle of -50 degrees towards the
southeast. Visible gold was observed in the drill core and assay
highlights included an intersection of 1 m of 98.60 g/t gold at a
depth of 287 to 288 meters.
Drill hole NT-153 was drilled along the
same drill section line as hole NT-151 and approximately 35m south
of hole NT-152, at an angle of -45 degrees towards the southeast.
Several occurrences of visible gold were noted in quartz veins in
the drill core and assay highlights included a 4 meter intersection
grading 15.70 g/t gold at a depth of 236.5 to 240.5 m, which
included a narrower high grade intersection of 0.5 m at 103 g/t
gold at 238 to 238.5 m depth, and a 9.5 m interval of 10.39 g/t
gold from 231 to 240.5 m depth, including 0.5 m at 35 g/t gold from
232.5 to 233 m.
Drill hole NT-154 was drilled to the
southeast of hole NT-152 along the same drill section line, at an
angle of -45 degrees towards the southeast. Visible gold in drill
core was observed at a relatively shallow depth of 41.5 m as well
as at other deeper locations. Assays highlights include 13 m at
3.11 g/t gold at 130 to 143 m depth, including 1 meter at 16.70 g/t
gold at a depth of 142 - 143 m.
Total drilling on the property now
totals 53,677 meters in 160 holes over approximately 1.8 km of
strike length within the highly-altered, gold-bearing NTS. Total
drilling by Confederation at Newman Todd during 2011, 2012 and 2013
now totals 41,525 meters in 106 holes. A complete list of assay
results, descriptions of the geological and structural setting,
representative cross sections and long sections which illustrate
the emerging morphology of the mineralized zones, as well as the
location of all drill holes completed to date can be observed on
Confederation's website at www.confederationmineralsltd.com.
Andrea Diakow, P.Geo, is the Qualified
Person as defined by National Instrument 43-101 and has reviewed
the technical content relating to the disclosed drill results in
this news release. Core samples from the program were cut in half
using a diamond cutting saw and were sent to Activation
Laboratories Ltd. in Red Lake, Ontario, an accredited mineral
analysis laboratory. All samples were analyzed for gold using
standard Fire Assay-AA techniques. Samples returning over 3.0 g/t
gold were analyzed utilizing standard Fire Assay-Gravimetric
methods. Certified gold reference standards, blanks, and field
duplicates were routinely inserted into the sample stream as part
of Confederation's quality control/quality assurance
program.
About CFM
Confederation Minerals Ltd. is a
British Columbia based company engaged in the business of
acquisition, exploration and development of mineral properties. Its
objective is to locate and develop economic precious and base
metals properties of merit. Confederation Minerals Ltd. holds an
Option Agreement to acquire up to 70% of the Newman Todd project in
the Red Lake Mining District of Northern Ontario, as well as 100%
ownership in another property in the Red Lake Mining District of
Ontario.
This press release
was prepared by Lawrence Dick, Ph.D., P.Geo.and CEO
On Behalf of the Board:
"Brian Bapty"
Brian Bapty, Ph.D.
President and Director
CORPORATE INQUIRIES
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Brian Bapty, President and Director
604-652-3950
brian.bapty@confederationmineralsltd.com
www.confederationmineralsltd.com
Neither the 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.
Forward-Looking
Information
This news release includes
certain statements that may be deemed "forward-looking statements".
All statements in this news release, other than statements of
historical facts, that address events or developments that the
Company expects to occur, are forward-looking statements.
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends",
"estimates", "proposes", "project", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable securities laws, the Company
undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
Click Image To View Full Size
Figure 1: Plan View of
Property showing Drill Hole Locations
Click Image To View Full Size
Figure 2: Cross
Section 2000 Showing Geology and Assay Highlights
Click Image To View Full Size
Figure 3: Cross
Section 2025 Showing Geology and Assay Highlights
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