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TORONTO, Feb. 12, 2019 /CNW/ - Central Timmins
Exploration Corp. ("CTEC" or the "Company") (TSXV: CTEC)
is pleased to announce the continuation of the Company's initial
drill program in the Timmins Camp, which began in late-October 2018. In the short term, CTEC plans
on taking advantage of the winter diamond drilling season in
Timmins with a work program of 6 –
9 holes in three Townships; Deloro, Mountjoy and Jamieson, all within the city
limits of Timmins.
Most of the mines in Timmins
have been found by prospectors sampling outcrop. The remaining
prospective areas are covered by an average of 25 meters of lake
bottom clays, sand or glacial till plus infrastructure such as
roads, houses, powerlines. CTEC has a modern data base of 6,000 MMI
geochemical samples, and they along with extensive geophysical data
have helped identify areas that are prospective for gold or
copper-zinc mineralization.
When the MMI anomalies are overlain on the airborne geophysical
maps of the individual townships, they highlight a range of
airborne magnetic and/or EM anomalies that have never been drill
tested. In total, CTEC has identified over 25 drill targets. The
next 3 targets to be drilled are:
Prospect Area
Township
|
Prospective
For
|
Target
Description
|
Deloro
Township
|
Gold
|
An MMI anomaly on a
magnetic low plus IP chargeability and resistivity anomaly. A 500m
drill hole was collared on February 11th and should take
less than one week to drill.
|
4 Corners Prospect in
Jamieson Township
|
Base
Metals
|
Anomaly based on MMI,
a magnetic low, gravity high and proximity to high-grade lead zinc,
silver veins.
|
Mountjoy
Township
|
Gold
|
2 miles west of the
Hollinger mine; the drill target is based on MMI sampling plus a
1980 Noranda diamond drill hole that intersected 15m of quartz
veining 200m to the east.
|
Charles Gryba, President, CEO and
Director of CTEC stated "We are just starting our drill testing of
gold and base metal targets in the Timmins Camp. Given that many
recent discoveries have been on brownfield sites in old camps, we
are excited by our prospects. Our MMI programs have
identified many interesting targets and CTEC hopes to drill test at
least 15 of these targets in 2019 with both winter and summer drill
programs envisioned."
About Central Timmins Exploration Corp.
CTEC is an early-stage Canadian-based junior exploration company
with property exclusively in the Porcupine Mining District and
secondly mainly within the City Limits of Timmins in the northeastern region of
Ontario. The Company's assets are
prospective for gold as well as a suite of base metals. See the
company website at www.centraltimmins.com.
Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable securities laws that is intended to be
covered by the safe harbours created by those laws.
"Forward-looking information" includes statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and
unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or
achievements of the Company to be materially different from any
future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking
information. See "Risk Factors" in the Company's final prospectus
dated October 4, 2018 filed on SEDAR
at www.sedar.com for a discussion of these risks.
The Company cautions that there can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, investors should not
place undue reliance on forward-looking information.
Except as required by law, the Company does not assume any
obligation to release publicly any revisions to forward-looking
information contained in this press release to reflect events or
circumstances after the date hereof.
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Central Timmins Exploration Corp