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Colorado Resources Ltd
Symbol CXO
Shares Issued 181,551,696
Close 2019-09-17 C$ 0.07
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Colorado Resources starts drill program at Castle

2019-09-18 08:34 ET - News Release

Mr. Joseph Mullin reports


Further to its news release of Sept. 3, 2019, Colorado Resources Ltd. has commenced a drill program on its Castle copper-gold property, located in the Red Chris mining district within the Golden Triangle of northwestern British Columbia.

An initial drill program totalling approximately 1,500 metres in four holes is planned for the Castle East porphyry target. Castle East has had no previous drilling but is defined by a 500 by 700 m induced polarization (IP) chargeability anomaly, with coincident anomalous gold, copper, molybdenum in soils. This target is associated with quartz-sericite-pyrite-altered monzodiorite, a geological setting similar to other important porphyry copper-gold deposits in the district, including the Saddle North deposits of GT Gold Corp., located five kilometres to the east. The drill holes are designed to provide important structural and geological information that will guide future exploration on this and other targets on Colorado's 19,256-hectare property.

The company also reports that 23.5 kilometres of induced polarization and 1,125 km of high-resolution airborne magnetic surveying have been completed, and results are being processed. Prospecting and soil sampling are nearly complete and a total of 838 soil samples and 178 prospecting rock samples have been submitted to lab for analyses. The sampling was focused on high-priority targets defined by 2019 and older surveys, as well as areas not previously sampled, particularly along the eastern border of the Castle property where it adjoins the Tatogga property of GT Gold.

Results of the aforementioned surveys and drilling will be released as soon as they are ready.

Please see Colorado's website for maps and images related to the Castle property.

Qualified person

The technical information in this release has been reviewed and approved by Michael Cathro, MSc, PGeo, a Colorado director and a qualified person under National Instrument 43-101.

About Colorado Resources Ltd.

Colorado Resources is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in the Golden Triangle and the Toodoggone area of British Columbia.

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