VANCOUVER - CRYSTALLEX INTERNATIONAL CORPORATION (symbol: KRY on TSE and AMEX) today announced results of exploration activities undertaken at its Albino property during the first quarter.
Marc J. Oppenheimer, President and CEO of Crystallex, commented, "Crystallex exploration activities continue to focus on our determining future potential of the promising Albino property. During our latest phase we encountered significant shear zone mineralization, which continues to confirm the potential for high grade underground resources at Albino."
The company indicated that Albino activities for the first quarter centered on mechanized trenching and diamond drilling. Backhoe trenching was concentrated in the area south of the Aguao 2 extension and along the mineralized and geochemically anomalous trend which may represent the surface expression of the Conductora-Aguao 2 shear system south of Medina 1.
Trenching along the Aguao 2 extension successfully intersected shear zone mineralization with values of up to 3.10 g/t Au over 5.5 metres in trench AG-T6. Trenching in the central portion of the property encountered broad zones of low grade mineralization with grades comparable to the nearby Brisas and Las Cristinas concessions. Trench sample results from this area included 40.1 meters @ 0.85 g/t Au in trench Ml-T9 and 22.6 m @ 1.33 g/t Au in trench M1-T10.
Diamond drilling at the Albino concession consisted of 14 holes totaling 2,137 metres. The drilling was aimed at investigating continuity of mineralization at depth along the Conductora-Aguao 2 shear between sections 4550 N and 4750 N. Summary drill results are tabulated below.
ALBINO DRILLING SUMMARY RESULTS
Highlights of this latest phase of drilling at Albino include:
- Significant shear-hosted gold mineralization was encountered in all drill holes except 98-02 and 98-14.
- Deeper holes between section 4650 N and 4750 N intersected a post mineralized dyke which, based on geologic interpretations, appears to truncate in whole or in part the main portion of the mineralized shear zone in holes 98-06, 98-09, 98-11 and 98-13.
- Hole DDH 98-10 intersected shear hosted gold mineralization below the late dyke penetrating 3.51 m grading 9.96 g/t Au, thus indicating that there are good expectations with respect to continuity and strength of mineralization below the dyke.
Further exploration at Albino will include shallow diamond drilling to establish continuity of mineralization between the Aguao 2 and Medina 1 zone, additional trenching and exploratory drilling Southwest of the Medina 1 zone, and deep drilling within the Conductora-Aguao 2 mineralized panel. If successful, the next phase of deep drilling at Albino is expected to substantially increase the resource base.
Crystallex International Corporation is a gold mining and exploration company. The Company's strategy for growth is to develop its portfolio of properties in South America as well as to diversify geographically by investing in producing or near-production projects and by exploring properties of merit in other areas of the world.
One ounce of gold equals 31.1034 grams of gold.
Vertical Longitudinal Section - Albino 1 Concession
Compilation Map & Exploration Targets - Albino 1 Concession Note: This news release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Crystallex, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with The Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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