COLORADO RESOURCES LTD. (TSX-V: CXO) (“Colorado” or the “Company”) is pleased to announce that it has completed the Phase II drill program and commenced a Phase III drill program at its 100% owned North ROK property (the “Property”).
The recently completed Phase II drill program was on budget at $2 million and totalled 5,393 metres. The Company was able to achieve 400 metres of additional meterage due to drilling efficiencies. Drill core from holes 14 to 18 are at the assay lab for analysis and processing. Results will be released after they have been received and reviewed by the Company.
The Phase III drilling will continue to step out along strike and at depth from known mineralization. In order to test for deeper mineralization, a second drill with a greater depth capacity has been mobilized to site to support the Phase III program.
Further information on the North ROK programs is contained on Colorado’s website, www.coloradoresources.com. The web-site contains a PowerPoint presentation with updated cross sections and a 3D model of the magnetic high and induced polarization anomalies overlain with drill holes.
Adam Travis, President and CEO of Colorado Resources commented, “We are proud of how far we have advanced the North ROK property since our first discovery drill hole was announced in April 2013. To date we have completed 18 drill holes totalling 6,914 metres. With a strong treasury and the mineralized system still open at depth and along strike, we plan to continue testing the size and grade of this discovery.”
Mr. Greg Dawson, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who supervised the work program and preparation of the technical data in this news release.
Colorado is engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in Canada and is also aggressively seeking quality properties in the US southwest and Latin America.
Colorado’s current exploration focus is the advancement of its 100% owned North ROK and its optioned Eldorado projects, which are located within 10 to 18kms of the Red Chris mine development, in northern British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF
COLORADO RESOURCES LTD.
President and Chief Executive Officer
For more information, please contact:
Sterling Marketing Corp.
John Foulkes, President
T: (604) 697-0028
C : (604) 614-2999
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
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding proposed exploration activities. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the market for gold or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company’s reports filed on SEDAR at www.SEDAR.com for a more complete discussion of such risk factors and their potential effects.
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.