VANCOUVER, BRITISH COLUMBIA--(Feb. 16, 2012) -Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) (“Cream” or the “Company”) is pleased to provide results for seven exploration drill holes completed on Cafetal-Veta Olvidada, The Cafetal-Veta Olvidada zone is located to the east of Once Bocas South and trends SE/NW. This new zone is not included in the current NI 43-101 Inferred Mineral Resource.
Cafetal-Veta Olvidada is contained within the much larger Area Cafetal which has dimensions of approximately 600 metres by 325 metres. Cafetal-Veta Olvidada is a poorly exposed 10 metre wide composite zone of quartz breccia and quartz veins-quartz stock work exhibiting intense weathering and oxidation. Detailed geological mapping conducted in 2010 located quartz float trains, sub outcrops and veins with associated quartz stock work. Other parallel quartz veins quartz stock work zones have been mapped within Area Cafetal.
Drill hole DDH 16-03 (completed in 2003 and located at the south eastern portion Cafetal-Veta Olvidada) tested an area of quartz float shedding along a contact between rhyolite flows and rhyolite tuffs. It intersected several well defined quartz veins and quartz stock work zones which returned good silver and gold values. Brecciation and oxidation observed was minimal compared to the northwestern outcrops of Cafetal-Veta Olvidada.
Cafetal-Veta Olvidada was drilled for a strike length of 400 metres of the 500 metres mapped on surface. The zone is open to the NW and to the SE.
HIGHLIGHTS OF THE DRILL RESULTS
Highlights include significant drill intersections (intersections are drill widths, true widths are 50% to 70% of drill intersected width depending on drill inclination).
CAF 05-11
2.00 metres of 72.30 g/t Ag and 0.281 g/t Au including 2.00 metres of 87.70 g/t Ag and 0.210 and; 2.00 metres 75.10 g/t Ag and 0.160 g/t Au.
CAF 06-11
2.00 metres of 139.90 g/t Ag and 0.643 g/t Au
CAF 01-11
2.00 metres of 147.00 g/t Ag and 0.454 g/t Au
ASSAY RESULTS
Drill Hole CAF 01-11 was located in the north central portion of Cafetal-Veta Olvidada with the goal of intersecting both the Cafetal and Veta Olvidada structures.
Description | Sample | From | To | Width | Ag | Au |
Quartz breccia | 1965 | 26.50 | 28.50 | 2.00 | 24.20 | 0.094 |
1966 | 28.50 | 30.50 | 2.00 | 19.50 | 0.110 | |
Breccia fault | 1979 | 60.50 | 62.50 | 2.00 | 147.00 | 0.454 |
Breccia, oxidation | 1986 | 83.25 | 85.25 | 2.00 | 12.10 | 0.017 |
Fault | 1987 | 85.25 | 87.25 | 2.00 | 8.00 | 0.033 |
1988 | 87.25 | 89.25 | 2.00 | 27.70 | 0.067 |
Drill Holes CAF 02-11 and CAF 03-11 are located along the same section and were also intended to intersect both the Cafetal and Veta Olvidada structures.
Description | Sample | From | To | Width | Ag | Au |
Breccia | 2016 | 50.00 | 52.00 | 2.00 | 10.20 | 0.022 |
Breccia | 2027 | 137.75 | 139.75 | 2.00 | 26.00 | 0.068 |
2028 | 139.75 | 141.75 | 2.00 | 4.70 | 0.011 | |
2029 | 141.75 | 143.75 | 2.00 | 19.00 | 0.099 | |
Breccia | 2044 | 184.00 | 186.00 | 2.00 | 4.30 | 0.127 |
Drill Hole CAF 03-11 encountered intense oxidation, brecciation and faulting of the core suggesting leaching of the values. No significant silver or gold values were returned.
Drill Hole CAF 04-11 is located along the north side of Arroyo San Miguel. Poor ground conditions and excess water due to sub-tropical rains made in it impractical to continue drilling. The hole was stopped short of its intended depth.
Description | Sample | From | To | Width | Ag | Au |
Quartz breccia oxides | 2121 | 35.50 | 37.50 | 2.00 | 18.20 | 0.061 |
Breccia Qtz fragments, Tuffs | 2122 | 37.50 | 39.50 | 2.00 | 50.30 | 0.168 |
Drill Hole CAF 05-11 is located in Arroyo Cafetal about 100 metres SW of CAF 04-11.
Description | Sample | From | To | Width | Ag | Au |
Quartz vein | 2127 | 48.20 | 50.20 | 2.00 | 20.10 | 0.068 |
Quartz vein | 2135 | 138.50 | 2.00 | 72.30 | 0.281 | |
Breccia oxidized | 2140 | 229.90 | 231.90 | 2.00 | 87.70 | 0.210 |
2141 | 231.90 | 233.90 | 2.00 | 75.10 | 0.160 | |
2142 | 233.90 | 235.90 | 2.00 | 6.20 | 0.040 | |
2143 | 235.90 | 237.90 | 2.00 | 21.70 | 0.160 | |
2144 | 237.90 | 239.90 | 2.00 | 10.00 | 0.646 |
Drill Holes CAF 06-11 and CAF 07-11 were located along the same section approximately 40 metres west of drill hole DDH 16-03
Description | Sample | From | To | Width | Ag | Au |
Quartz vein | 2158 | 29.25 | 31.25 | 2.00 | 0.90 | 0.877 |
Quartz vein | 2168 | 85.00 | 87.00 | 2.00 | 25.20 | 0.102 |
2169 | 87.00 | 89.00 | 2.00 | 11.60 | 0.061 | |
Quartz vein | 2170 | 101.50 | 103.50 | 2.00 | 14.70 | 0.146 |
Stock work | 2175 | 117.50 | 119.50 | 2.00 | 0.90 | 0.165 |
2176 | 119.50 | 121.50 | 2.00 | 1.10 | 0.116 | |
2177 | 121.50 | 123.50 | 2.00 | 1.10 | 0.111 | |
Quartz breccia | 2181 | 172.60 | 173.60 | 2.00 | 3.00 | 0.121 |
Stock work | 2182 | 173.60 | 175.60 | 2.00 | 2.10 | 0.263 |
2188 | 185.60 | 187.60 | 2.00 | 4.50 | 0.199 | |
Quartz breccia | 2200 | 214.10 | 216.70 | 2.60 | 1.40 | 0.126 |
2201 | 216.70 | 218.70 | 2.00 | 2.80 | <0.005 | |
2202 | 218.70 | 220.70 | 2.00 | 139.9 | 0.643 |
Description | Sample | From | To | Width | Ag | Au |
Quartz vein | 2215 | 88.10 | 90.10 | 2.00 | 27.40 | 0.121 |
Quartz breccia stock work | 5508 | 283.10 | 285.10 | 2.00 | 14.40 | 0.078 |
5509 | 285.10 | 287.10 | 2.00 | 20.80 | 0.090 | |
Quartz breccia | 5513 | 325.30 | 327.30 | 2.00 | 81.20 | 0.119 |
5514 | 327.30 | 329.30 | 2.00 | 35.80 | 0.160 | |
5515 | 329.30 | 331.30 | 2.00 | 11.40 | 0.288 |
Drill Hole DDH 16-03 was located 50 metres east of CAF 06-11.
Description | Sample | From | To | Width | Ag | Au |
Quartz veins | 199785 | 50.00 | 52.00 | 2.00 | 14.90 | 0.068 |
Stock work | 199786 | 52.00 | 54.00 | 2.00 | 6.50 | 0.072 |
199787 | 54.00 | 56.00 | 2.00 | 67.00 | 0.327 | |
199788 | 56.00 | 58.00 | 2.00 | 36.30 | 0.178 | |
Weighted average | 199785 – 88 | 50.00 | 58.00 | 8.00 | 31.18 | 0.161 |
Including | 199787- 88 | 54.00 | 58.00 | 4.00 | 51.65 | 0.253 |
Including | 199787 | 54.00 | 56.00 | 2.00 | 67.00 | 0.327 |
Stock work veins | 199801 | 82.00 | 84.00 | 2.00 | 25.30 | 0.070 |
199802 | 84.00 | 86.00 | 2.00 | 11.50 | 0.043 | |
199803 | 86.00 | 88.00 | 2.00 | 17.10 | 0.04 | |
199804 | 88.00 | 90.00 | 2.00 | 192.00 | 0.442 | |
199805 | 90.00 | 92.00 | 2.00 | 10.70 | 0.038 | |
Weighted average | 199801 – 05 | 82.00 | 92.00 | 10.00 | 51.32 | 0.127 |
199804 | 88.00 | 90.00 | 2.00 | 192.00 | 0.442 | |
199824 | 128.00 | 130.00 | 2.00 | 98.00 | 0.150 |
Discussion:
The seven drill holes targeting the Cafetal-Veta Olvidada zone were intended to test for and confirm the ten metre wide composite zone of quartz breccia, quartz veins and quartz stock work. The drill results identified three parallel heavily oxidized and leached quartz breccia zones showing 60% quartz fragments and 40% rhyolite fragments. Widths of the three zones range from four metres to 25 metres containing narrower sections of varying silver-gold values. The distribution of quartz breccia and quartz veins within the drill holes suggests Cafetal-Veta Olvidada is a composite zone of multiple quartz-breccia and quartz stock work structures.
CAF 06-11 and CAF 07-11 in the SE portion of the structure including drill hole DDH 16-03 (completed in 2003) demonstrate a change in the vein composition from quartz breccia to quartz veins and quartz stock work. In general higher values were associated with the observed decrease of brecciation, oxidation and leaching of the quartz vein quartz stock work zones. Leaching of silver values produces residual grades which are lower than the primary silver grades however it also implies the possibility of secondary enrichment below the level of oxidation.
Cafetal-Veta Olvidada was drilled for a strike length of 400 metres of the 500 metres mapped on surface. The zone is open to the NW and to the SE.
The known structures within Area Cafetal are open to the NW and SE. With additional quartz veins quartz stock work zones Area Cafetal represents another important area of significant exploration potential at Nuevo Milenio.
Revised NI 43 — 101 Report, dated December 24, 2008 by F. Holcapek, P. Eng. | ||||||
Dos Hornos (U/G) | Width | Tonnes | Ag | Au | Ag | Au |
Dos Hornos Segment 1 | 4.70 | 1,173,901.56 | 165.34 | 1.500 | 6,552,238.85 | 59,400.00 |
Dos Hornos Segment 2 | 4.06 | 746,528.32 | 201.95 | 1.770 | 4,847,215.70 | 42,390.25 |
Veta Tomas | 5.09 | 1,246,162.50 | 351.19 | 1.280 | 14,070,467.48 | 51,344.17 |
Once Bocas | 2.42 | 1,921,162.50 | 252.59 | 1.920 | 15,602,012.74 | 118,347.79 |
Total | 5,087,754.88 | 251.09 | 1.660 | 41,071,934.77 | 271,482.21 | |
Tonnes: 5,088,000 Ag: 251.09 g/t, Au: 1.660 g/t. Ag: 41,072,000 oz, Au: 271,500 oz. | ||||||
Mr. Ferdinand Holcapek, P. Eng., Director and Administrator General, Cream Minerals De Mexico, SA de CV, supervises exploration programs on the Nuevo Milenio Project. He is responsible for all technical reporting and is the Company’s “Qualified Person” for the purpose of National Instrument NI 43-101.
Cream Minerals is a silver-gold exploration company. The Company’s flag ship project is the Nuevo Milenio silver – gold project in Nayarit State Mexico. To learn more about Cream Minerals please click here www.creamminerals.com.
