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Vancouver, British Columbia--(Newsfile Corp. - May 13, 2024) - Crestview Exploration Inc. (CSE: CRS) (FSE: CE7) ("Crestview" or "the Company") is pleased to announce that it is commencing permitting activities related to its planned 2024 drilling program at its 100% owned Rock Creek property, located in the Tuscarora Mountains, north-west of Elko Nevada. Our team is scheduled to be on site conducting field and survey work over the next week necessary to the permit application.
The program aims to drill 8 to 12 high priority targets at Rock Creek (P1 through P12) for an approximate total 10,000 feet of mixed RC-Core. Drill hole locations were chosen from a target-rich environment utilizing a number of geological indicators captured to date, especially mapped structural and alteration data and Hybrid Source Audio Magnetotellurics (HSAMT) interpreted sections. The program will be testing 1) areas of anomalous and economic gold and silver grades in surface sampling and historic drill results; 2) mapped structures and structural intersections, including the interpreted nested caldera; 3) potential for disseminated mineralization in the Paleozoic sequence at depth; and 4) geophysical anomalies generated by the 2022 HSAMT survey.
Please refer to Figure 1 for the approximate locations of drill targets and the corresponding surface geology. For additional details including the HSAMT sections and interpretations, the reader is encouraged to review the May 2, 2023 news release titled "Crestview Exploration Announces Priority Drill Targets …"
Figure 1 - Proposed Drill Targets at Rock Creek
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The Company also announces that it has granted a total of 2,000,000 stock options to officers, directors and consultants of the Company. The incentive stock options granted will vest quarterly over a period of 12 months, are valid for 5 years from the date of the issuance and are exercisable to purchase one common share of the Company at a price of $ 0.10 per common share.
On Behalf of the Board of Directors,
"Chris Wensley"
Chris Wensley, CEO
About Crestview Exploration Inc:
Crestview Exploration is an experienced exploration company focused on the exploration and development of its portfolio of gold and silver properties located in prolific mining districts of Nevada.
The Tuscarora Complex includes the Rock Creek, Dry Creek, and Falcon claim blocks for a total of 239 claims. The Rock Creek gold project is Crestview's flagship asset, with 72 unpatented lode mining claims wholly owned and controlled by Crestview. The Rock Creek property was acquired in 2017, and the company went public in 2019. Emboldened by the results coming out of Rock Creek, Crestview strategically expanded on the land position with claim staking at Dry Creek (43 claims), and later (September, 2022) with the acquisition of the Falcon silver-gold prospect (124 claims). These three claim blocks are all within close proximity and are targeting similar mineralization and likely the same underlying hydrothermal system. The Tuscarora Complex is situated in a region with proven "world class" gold deposits (including Midas, Jerritt Canyon, Betze-Post, Meikle, and Gold Quarry), where the potential of finding large, high-grade gold-silver deposits is favorable.