Cream Minerals Ltd.
Nuevo Milenio Silver Gold property - Mexico - 54.6 Million oz Silver
Message: Revision to Nuevo Milenio Underground Development/High-Gra... Silver-Gold Zone
| May 11, 2009 | |
| Cream Minerals Announces Revision to Nuevo Milenio Underground Development Plan to Facilitate Accelerated Opening of High-Grade Silver-Gold Zone | |
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2009) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:... ("Cream" or the "Company") is pleased to announce that preparations are being made to commence a 60 meter cross cut to intersect the high-grade silver-gold zone in the Company's Veta Tomas mineral vein. Following completion of the cross cut a drift will be driven parallel to the mineralized zone at the 1171 meter level. The attached cross section outlines the vein, drill hole and proposed 60 metre cross cut. The high-grade zone was intersected by diamond drill hole DDH07-23 which yielded the following values.------------------------------------------------------- Sample No. From To Metre Au g/t Ag g/t ------------------------------------------------------- 295758-60 78.60 84.60 6.00 1.706 525.73 ------------------------------------------------------- Including 78.60 82.60 4.00 2.438 771.20 ------------------------------------------------------- Including 80.60 82.60 2.00 4.350 1388.40 ------------------------------------------------------- A comprehensive review of the geology and topography of the high-grade silver-gold Veta Tomas and Dos Hornos 1 and Dos Hornos 2 zones within the Nuevo Milenio project defined a portal location which can provide the shortest distance to the high-grade Veta Tomas zone. This will facilitate cross cutting and associated underground development as part of a staged program. The objectives of the revised underground development program are to begin establishing the true grade and economic width of the mineralized zone, stage underground diamond drilling and begin upgrading the inferred mineral resources reported in the NI 43-101 Report of December 24, 2008 by Fred Holcapek, P.Eng. to the measured and indicated status. In support of the revised underground development plan, Cream has initiated the required environmental studies, including biological, hydrological and land use, as well as a survey of the proposed area for the portal. It is anticipated that the environmental permits will be granted in three months time. Powder magazines which comply with government specifications have been completed and application for permits to purchase and use explosives has been submitted. Negotiations have been initiated to secure surface land use rights and a contractor has been selected. Cream expects to start work on the cross cut in approximately four months. The total cost of the initial underground program is estimated at US$400,000.00. It is proposed that the planned drift will have a three meter by three meter section which can support future mining operations. The drift will be parallel to the mineralized zone with crosscuts spaced 50 meters apart and diamond drill stations at 25 meter intervals. Exploratory underground diamond drill holes, up to 200 metres in length, are planned to the north east and south west. These drill holes will test the Dos Hornos 3 fault segment 150 metres east of Veta Tomas and the Veta Tomas fault segments approximately 100 metres west of Dos Hornos 1 and Dos Hornos 2. These exploratory drill holes have the potential to double the Mineral Resources of the Veta Tomas and Dos Hornos structures. A cross section of the Nuevo Milenio project can be seen at the following link: http://media3.marketwire.com/docs/cr... . Mr. Ferdinand Holcapek, P. Eng., Director and Administrator General, Cream Minerals De Mexico, SA de CV, supervises exploration programs on the Nuevo Milenio Project. He is responsible for all technical reporting and is the Company's "Qualified Person" for the purpose of National Instrument NI 43-101. |
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