COLORADO ANNOUNCES SECOND NEW PORPHYRY DISCOVERY …
Transcript of COLORADO ANNOUNCES SECOND NEW PORPHYRY DISCOVERY …
Colorado Resources Ltd.
#110 - 2300 Carrington Road www.coloradoresources.com Tel: (250) 768-1511 West Kelowna, British Columbia Fax: (250) 768-0849 V4T 2N6 Canada Toll Free: 1 (855) 768-1511
News Release
COLORADO ANNOUNCES SECOND NEW PORPHYRY DISCOVERY AT KSP
October 8, 2015 TSX-V: CXO
COLORADO RESOURCES LTD. (TSX-V: CXO) ("Colorado" or the "Company") announces the
results of its 2015 summer exploration program from the Pins Area on the KSP Property (“the
Property”), located 12 km SW of Alta Gas’ road accessible McClymont Creek hydroelectric project.
Colorado acquired claims over the Pins Area by staking in November of 2013 significantly
expanding the size of the original claim groups held by SnipGold. The KSP Property under option
from SnipGold now totals over 33,593 hectares covering approximately 33 ½ square kilometres.
Adam Travis, President and C.E.O of Colorado states, “Since 2013 we recognized the exploration
potential of the larger district, and quadrupled the size of the original Property. Our theories were
confirmed by our 2014 fieldwork completed in conjunction with important work conducted by B.C
Geological Survey Geologists Joanne Nelson and Jeff Kyba. The recognition of regional thrust faults
spatially associated with large alteration systems favourable for mineral occurrences led us back to
many areas this year, including the Pins area. The NGU (Never Give Up) Porphyry discovery
demonstrates the calibre and persistence of our exploration team and the validity of our
exploration model. There’s lots of room within the > 5 kilometres of favourable strike at Pins to
expand the current 500 metre trend of copper and gold mineralized rocks found in our initial work
at NGU as highlighted by the regional geology, geochemistry and airborne magnetic data”
The 2015 field program at Pins consisted of the collection of 79 rock chip, channel and grab
samples, 10 soil samples, detailed geological mapping and prospecting; 17.5 km of ground
magnetometer surveying and compilation of historical data. Highlights of this work include:
NGU Porphyry Discovery hosted within a >5 km thrust panel and adjacent to the 2 x 3
km Pins Alteration System (see Figure 1) which has only been moderately explored to date
within a 500 m area with rock, chip and channel samples returning up to 2.44% copper and
1.13 g/t gold in grab samples and up to 0.93% copper and 0.28 g/t gold across one metre
in limited channel sampling to date. Just as importantly, the mineralization occurs within
quartz and magnetite, stockwork veined monzodiorites typical of porphyry systems in zones
that trend under gravel cover to the northwest and into tree covered slopes to the
southeast.
The recognition of a > 5 km Highly Prospective Trend in the Pins area associated with
the Sky Thrust Fault which is highlighted by anomalous copper and gold results in rock
samples of up to 3.6 % copper and 88.2 g/t gold located as much as 2 ½ kilometres away
from the NGU Porphyry Discovery.
Large portions of the Pins alteration system and surrounding areas on trend of the NGU
Porphyry remain both under explored or totally unexplored, providing exploration upside to
continue to expand upon known mineralization and make new discoveries.
Colorado Resources Ltd.
#110 - 2300 Carrington Road www.coloradoresources.com Tel: (250) 768-1511 West Kelowna, British Columbia Fax: (250) 768-0849 V4T 2N6 Canada Toll Free: 1 (855) 768-1511
The rock samples reported by Colorado in 2015 were analyzed by Activation Laboratories Ltd. of
Kamloops, B.C for 68 elements using an Aqua Regia digest with an ICP-MS finish (Code UT-1) and
for gold by fire assay fusion with an AA finish ( Code 1A2).
For more information on the KSP Project the reader is directed to the company’s website at
www.coloradoresources.com.
Qualified Person
Greg Dawson, P.Geo is the Qualified Person as defined by National Instrument 43-101 who
supervised the preparation of the technical data discussed in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF
COLORADO RESOURCES LTD.
“Adam Travis”
Adam Travis
President and Chief Executive Officer
For more information, please contact:
Colorado Resources Ltd.
Adam Travis, President and Chief Executive Officer or
Terese Gieselman, Chief Financial Officer
T: (250) 768-1511
F: (250) 768-0849
TF (855) 768-1511
W: www.coloradoresources.com
NR 15-06 Cautionary Note Regarding Forward-Looking Statements Certain statements contained in this news release, constitute "forward-looking information" as such term is used in
applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of
management at the date the information is provided and is subject to certain factors and assumptions, including: that the
Company's financial condition and development plans do not change as a result of unforeseen events, that the Company
obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project
communities.. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from those projected in such forward-looking information.
Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are
not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays,
or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory
approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the
possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties
applicable to mineral exploration and development activities and to the Company as set forth in the Company's
Management’s Discussion and Analysis reports filed under the Company's profile at www.sedar.com. There can be no
assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on
forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or
statements, other than as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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!(Ç1.9% Cu
3.6% Cu
0.65% Cu
1.06% Cu0.69% Cu
0.64% Cu0.68% Cu
1.18% Cu0.66% Cu
1.22% Cu
2.44% Cu1.13% Cu 0.58% Cu
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0.61% Cu0.97% Cu
0.99% Cu
1.43% Cu1.94% Cu
0.52% Cu
3.45% Cu
0.98% Cu
0.93% Cu0.76% Cu
0.7g/t Au
2.8g/t Au
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20.3g/t Au4.85g/t Au
76.5g/t Au
0.63g/t Au
0.52g/t Au
0.64g/t Au
88.2g/t Au49.3g/t Au
2.15g/t Au
1.13g/t Au
10.7g/t Au
45.5g/t Au
0.53g/t Au
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KSP: Pins TargetNews Release: 15-06
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ÇPins
KSP
Triassic Volcanics
Early Jurassic Lehto Pluton(Mitchell Suite)
Pins Ridge Cu-Au ZonePins Bowl Cu-Au Zone
Contours (500ft)2007 Aibrone Mag AnomaliesQSP Alteration ZonesGlacial IceVolcanicsGranodioriteMonzodioriteQuartz Monzonite
#* CXO Gold Rock Sample >0.25g/t#* CXO Copper Rock Sample >0.25%#* CXO Molybdenum Rock Sample >100ppm!( Gold Soil Sample >50ppb!( Copper Soil Sample >500ppm( Copper (>500ppm) & Molybdenum (>50ppm) Soil Sample 0 500250
Meters
2007 Airborune Survey Extent
2007 Airborune Survey Extent
No Sampling - No Mapping
Area Unexplored
East Pins Cu-Au Zone
Monzodiorite
Sky Thrust Fault
Sky Thrust Fault
Normal Fault
Normal Fault
Modified Geology after J.Kyba, J. Nelson (2014) & J.Oliver (2015)
Lower Pins Mo-Cu Zone
West Pins Cu-Au Zone(1.3km West of NGU)
(2.5km Southeast of NGU)
0.5 CXO Gold Rock Sample >0.5g/t0.5 CXO Copper Rock Sample >0.5%
Channel: CHPins-1Copper Staining at NGU
New NGU Porphyry Discovery