CRYSTAL EXPLORATION INC. (the “Company” or “Crystal”) (TSX-V: “CEI”) is pleased to announce that Crystal’s 2016 exploration program has identified 5 new high priority drill targets with respect to newly discovered kimberlite(s). Jim Greig, President & CEO commented “we are very excited about the new targets identified by Crystal’s geological team. Very few new, sizeable diamond bearing kimberlites have been discovered over the past ten years. These new areas for drilling were based upon greater than $50 million in historical work performed by the likes of De Beers Canada and exceptionally good interpretation and exploration performed by the Crystal exploration team.”
Field work at Crystal’s 100% owned Muskox, Contwoyto and Hood Project areas, located in Nunavut, Canada, has now been completed. The program identified and prioritized numerous targets for the potential discovery of new kimberlite(s) during 2017. The program included prospecting and mapping; till sampling (146 samples), rock sampling (2 samples at the James River Kimberlite Dyke) and 83.01 line kilometers of ground geophysical surveying at 17 land based targets. The samples have been sent to the Saskatchewan Research Council Analytical Laboratories (“SRC”) in Saskatoon for analysis. Results are expected in the fourth quarter (“Q4”), 2016.
In total, 72 prospective kimberlite targets were reviewed on the ground. Of the 72 which were ground truthed, 17 ground geophysical grids were completed which totaled 83.01 line kilometers of high resolution magnetics. From the 17 grids, 5 have been selected as high priority drill targets with respect to newly discovered kimberlite(s). Images of the targets can be found on Crystal’s website (www.crystalexploration.com). In addition, numerous high priority targets that are under water bodies have been targeted for a winter ground geophysical program. A target map is attached below.
Of the 5 newly developed high priority kimberlite ‘bullseye’ targets, 4 are magnetic highs and 1 is a magnetic low. The targets range from 125 to 225 meters in size. Other kimberlites in the area were both magnetic lows (including the Contwoyto 1, Muskox and Jericho, Jericho South and Rush kimberlites) and magnetic highs (including the Unicorn, Voyageur and Peregrine kimberlites).
A NI43-101 Technical Report is expected during Q4, 2016 and will focus on the Muskox Project and will include newly developed kimberlite targets within the Contwoyto and Hood Project areas. The Report will be authored by Dean Besserer, P.Geol.
Kimberlite Target Locations
Whole and split core samples from the Muskox Kimberlite have now been logged and sampled. All the previously un-sampled drill core from 26 drill holes will be processed at the SRC using their Dense Media Separation (“DMS”) processing plant for the purpose of recovering commercial sized (approximately +0.85 mm) diamonds. Results are expected from the Muskox Kimberlite diamond drill holes during Q4, 2016.
About Crystal Exploration Inc.
Crystal is a Canadian diamond exploration company with Common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals who have a track record of advancing exploration projects from grassroots through to production scenarios. The technical content of this news release have been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Jim Greig”
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.