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Crystal Exploration Inc
Symbol CEI
Shares Issued 28,005,472
Close 2016-10-25 C$ 0.13
Market Cap C$ 3,640,711
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Crystal Exploration finds five drill targets in Nunavut

2016-10-26 01:27 ET - News Release

Mr. Jim Greig reports

CRYSTAL IDENTIFIES NEW DRILL TARGETS

Crystal Exploration Inc.'s 2016 exploration program has identified five new high-priority drill targets with respect to newly discovered kimberlite(s).

Jim Greig, president and chief executive officer, commented: "We are very excited about the new targets identified by Crystal's geological team. Very few new, sizable diamond-bearing kimberlites have been discovered over the past 10 years. These new areas for drilling were based upon greater than $50-million in historical work performed by the likes of De Beers Canada and exceptionally good interpretation and exploration performed by the Crystal exploration team."

Exploration program

Fieldwork at Crystal's 100-per-cent-owned Muskox, Contwoyto and Hood project areas, located in Nunavut, Canada, has now been completed. The program identified and prioritized numerous targets for the potential discovery of new kimberlite(s) during 2017. The program included prospecting and mapping, till sampling (146 samples), rock sampling (two samples at the James River kimberlite dike), and 83.01 line kilometres of ground geophysical surveying at 17 land-based targets. The samples have been sent to the Saskatchewan Research Council Analytical Laboratories (SRC) in Saskatoon for analysis. Results are expected in the fourth quarter of 2016.

New targets

In total, 72 prospective kimberlite targets were reviewed on the ground. Of the 72 which were ground truthed, 17 ground geophysical grids were completed, which totalled 83.01 line kilometres of high-resolution magnetics. From the 17 grids, five have been selected as high-priority drill targets with respect to newly discovered kimberlite(s). Images of the targets can be found on Crystal's website. In addition, numerous high-priority targets that are under water bodies have been targeted for a winter ground geophysical program.

Of the five newly developed high-priority kimberlite bull's-eye targets, four are magnetic highs, and one is a magnetic low. The targets range from 125 to 225 metres in size. Other kimberlites in the area were both magnetic lows (including the Contwoyto 1, Muskox and Jericho, Jericho South, and Rush kimberlites) and magnetic highs (including the Unicorn, Voyageur and Peregrine kimberlites).

Geological report

An NI 43-101 technical report is expected during fourth quarter 2016 and will focus on the Muskox project and will include newly developed kimberlite targets within the Contwoyto and Hood project areas. The report will be authored by Dean Besserer, PGeol.

Diamond results

Whole and split core samples from the Muskox kimberlite have now been logged and sampled. All the previously unsampled drill core from 26 drill holes will be processed at the SRC using its dense media separation (DMS) processing plant for the purpose of recovering commercial-sized (approximately 0.85 millimetre) diamonds. Results are expected from the Muskox kimberlite diamond drill holes during fourth quarter 2016.

The technical content of this news release has been reviewed and approved by Mr. Besserer, PGeol, the technical adviser of the company, a qualified person as defined by National Instrument 43-101.

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