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Crestview Exploration Inc
Symbol CRS
Shares Issued 13,516,932
Close 2020-06-26 C$ 0.51
Market Cap C$ 6,893,635
Recent Sedar Documents

Crestview acquires Castile Mountain aeromagnetic data

2020-06-29 13:42 ET - News Release

Mr. Glen Watson reports

CRESTVIEW EXPLORATION INC. ACQUIRES AEROMAGNETIC DATA FOR THE CASTILE MOUNTAIN PROJECT -- ELKO, COUNTY, NEVADA

Crestview Exploration Inc. has acquired a geophysical-use licence from Edcon-PRJ Inc. of Lakewood, Colo., for aeromagnetic data. The subject data consists of 934-line miles of high-quality data collected by Edcon-PRJ over its Divide Mine, Rock Creek and Castile Mountain projects. The area was covered with northeast lines, 200 meters apart and northwest tie lines 800 meters apart.

The company engaged the services of Frank P. Fritz of Fritz Geophysics to complete an interpretation of the data. The company supplied geological data for the property as well as held discussions with Mr. Fritz to convey what the company knows about the project area in regards to significant geological features and the location of current exploration targets.

This property is comprised of 8 unpatented lode claims covering 164.8 acres (66.7 ha).

Aeromagnetics response in the area of the project was identified a remnant circular magnetic feature. This was interpreted by Fritz to be a volcanic vent or pipe that lies in the northern area of the claim block.

The company hypothesized a hot springs model for the mineralization on the property based on presence of siliceous sinter and silicified volcanic rocks at the top of Castile Mountain. This finding appears to support the hot springs model. Additional mapping and geochemical sampling are warranted to fully develop this model as well as gold targets on the property.

The company is in the process of designing a geochemical sampling, and geological mapping program for work on Castile Mountain. The field work will commence later this summer.

Castile Mountain is located in the southern portion of the Tuscarora Mining District which is centered 3.5 miles to the northeast of Castile Mountain. Historic mining from underground and surface placer mines produced 200,000 ounces of gold and 7.27 million ounces of silver as reported in Nevada Bureau Mines and Geology Bulletin 106, Mineral Resources of Elko County, Nevada. In more recent times (1989-1991) 39,976 ounces of gold and 254,000 ounces of silver were produced from the Dexter open pit by Horizon Gold Corporation and Chevron, as reported in "Technical Report Describing the Tuscarora Project, Centered on 565568E/4573240N, UTM WGS84 Zone 11 N in Elko County, Nevada USA. Prepared for American Pacific Mining Corp. by E.L. (Buster) Hunsaker III, CPG 8137, effective date January 15, 2018.

The Castile Mountain prospect lies on the southeast side of the Tuscarora volcanic field, the largest Eocene age (39 million years before present) volcanic field in Nevada. This is important because Eocene magmatism occurred contemporaneously with the main gold mineralizing event that formed the bulk of the gold deposits in Nevada.

A paleo hot spring vent crops out at the top of Castile Mountain as evidenced by a small area of sinter and silicified volcanic rocks that carry the best gold geochemistry. The surrounding area is primarily clay altered with quartz vein stock works. Surface gold mineralization is hosted by andesite breccia. Below the andesite breccia is a package of rocks comprised of volcanic flows, ash flow tuff and a basal conglomerate. The basal conglomerate lies unconformably on an erosional surface at the top of the older Paleozoic sedimentary rocks. This unconformity represents an excellent stratigraphic target below the hot springs vent, along with disseminated mineralization in favourable rock units and possibly quartz veins.

The Carlin Trend lies about 17 miles southwest of the property and the mines of the Jerritt Canyon Mining District lie about 14 miles to the east of the property.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

The company now has three properties, Rock Creek, Divide Mine and Castile Mountain in close proximity to each other. We intend to take advantage of the synergy and exploration cost savings created by these properties being located close to each other.

This News Release was prepared by M.J. Abrams; BS and MS Geology, CPG No. 11451; Idaho PG No. 570; California PG#4138; Oregon RG#938. M.J. Abrams is a Qualified Person as defined by NI 43-101 and has approved the scientific and technical disclosure included in this news release.

About Crestview Exploration Inc.

Crestview Exploration is a technology driven, well funded and experienced exploration company focused on finding gold and silver deposits in mining friendly jurisdictions. The company's flagship project Rock Creek as well as the Divide Mine and Castile Mountain precious metal projects are located in the Tuscarora mining district in north-central Nevada, in Elko County.

We seek Safe Harbor.

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