WEST KELOWNA, British Columbia, Nov. 21, 2017 (GLOBE NEWSWIRE) -- COLORADO RESOURCES LTD. (TSX-V: CXO) ("Colorado" or the "Company") reports the results of its rock and soil sampling program completed in June 2017 (see news release dated July 10, 2017) and further reports the Company has recently completed 2,529m of NQ diamond drilling at its 100% owned North ROK Property.
Adam Travis, President and CEO of Colorado states: “We are pleased with the progress we have made to consolidate the area, compile the historical rock and soil sampling data together with our recent surface results and completed 6 drillholes near the margins of the 2014 North ROK Inferred Resource³ during the 2017 field season. The combined surface geochemical results have highlighted multiple copper soil anomalies and copper and gold in rock samples along a 9km favorable trend. We acquired I.P. data from the ROK-Coyote ground that extends the North ROK I.P. anomaly at Mabon 1.2km southeast towards the Silver Standard Area. We will continue to work with the Tahltan Nation on responsible mineral exploration within their traditional territory and consult with local communities, including those members from the Iskut area who recently circulated a petition declaring their objection to exploration in the greater Iskut area”.
Rock and Soil Sampling
A total of 2,208 soil samples and 159 rock samples were collected across the ROK-Coyote portion of the North ROK Property, an area that was acquired in the spring of 2017 (see news March 13, 2017). Highlights of the surface sampling program include:
North ROK 2017 Rock Samples
| Target | Sample # | Sample Type | Au (g/t) | Cu (%) |
| O.K. Area | 1291536 | Grab | 10.10 | 0.72 |
| O.K. Area | 1291537 | Grab | 1.59 | 0.84 |
| O.K. Area | 1277495 | Grab | 1.75 | 0.35 |
| O.K. Area | 1279438 | Grab | 0.09 | 2.19 |
| West Area | 1279431 | Grab | 0.22 | 4.03 |
| Silver Standard Area | 1628006 | Float | 0.02 | 8.98 |
Plotting up the historic and recent soil geochemical data (>9,000 samples), has highlighted 7 anomalous areas with >200ppm Cu plus elevated gold in soils (see Figure 1).
The areas are:
- Mabon Area at North ROK,
- Edon Area (1.5km to the southeast of Mabon),
- Silver Standard Area (3.0km to the southeast of Mabon),
- West Area (4.25km to the southeast of Mabon),
- MFJ Area (4.25km to the east-southeast of Mabon),
- South Area (6.5km to the east-southeast of Mabon),
- O.K. Area (6.5km to the east-southeast of Mabon).
The >200ppm Cu in soils anomalies and the distribution of gold and copper in rock samples characterize a 9km long favorable copper and gold mineralized trend (see Figure 1).
2017 Drilling
Six drillholes totaling 2,529m were completed in the Mabon area (see Figure 2) primarily targeting mineralization at depth and to the west of the known 2014 Inferred Resource³. All 2017 drillhole results are pending.
Compilation of Previous I.P. Geophysical Surveys
In 2012 and 2013, I.P. surveys were completed by Colorado over the Mabon and Edon areas and show a >20 mV/V chargeability contours that overlies and extends beyond the 2014 Inferred Resource³ at Mabon. In 2013 and 2014, OZ Minerals completed I.P. surveys on the ROK-Coyote Property over the MFJ, West and Coyote areas. The OZ Mineral I.P. surveys show several chargeability anomalies, most notable the anomaly extending 1.2km from Mabon southeast into the Silver Standard Area (see Figure 1).
QA/QC Statement On Assay Results
The 2017 samples from the North ROK Property were analyzed by Actlabs Kamloops, British Columbia. Soil samples were prepared by the S1 method, drying (60o C) and sieving (-80 mesh), save all portions. Rock samples were prepared by the RX1, method crush (<7kg) up to 80% passing 10 mesh, riffle split (250g), and pulverized to 95% passing 105 microns, save all portions. Base metal assays were first determined using the total digestion ICP and ICP/MS UT-1 method, which reports results as parts per million (ppm). The gold assays were determined using the 1A2 fire assay method which reports results in ppm and are equivalent to grams per tonne (g/t). Any samples returning greater than 10 ppm gold were analyzed by the 1A3 fire assay method with a gravimetric finish. The analytical results were verified with the application of industry standard Quality Control and Quality Assurance (QA-QC) procedures.
For more information on the North ROK Property the reader is directed to the Company’s website at www.coloradoresources.com.
Qualified Persons
Dr. Jim Oliver, Ph.D, P. Geo., the Company’s Chief Geoscientist, is the Qualified Person as defined by National Instrument 43-101 who reviewed the preparation of the technical data in this news release.
About Colorado
Colorado Resources Ltd. is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in the “Golden Triangle” British Columbia and holds approximately 1,200km2 of mineral claims in the Golden Triangle. The Company’s main exploration projects within British Columbia include KSP and North ROK. Additionally the Company holds an option to acquire a 100% interest in the Greensprings project located in Nevada.
