COLORADO RESOURCES LTD. (TSX-V: CXO) (“Colorado” or the “Company”) is pleased to report that further to its April 30, 2013 news release, it has now completed two additional diamond drill holes NR13-003 and NR13-004 on its North ROK copper-gold property, located approximately 190 kilometres north of Stewart B.C and along Highway 37 south of the village of Iskut.
NR13-003 was a -80 degree hole at a 040° azimuth collared at the same location as Drillhole NR13-001 and was terminated at a depth of 594 metres. NR13-004 was a -45 degree hole at 040° azimuth collared 100 metres to the southeast of NR13-001 and was terminated at a depth of 404 metres. Samples are currently being processed and will be sent to the laboratory shortly. The assay results of all drillholes will be released once analyses have been received and are subject to QA-QC review.
While awaiting assay results the Company has commenced surface geological, geophysical and archeological surveys in order to facilitate the placement of additional drillholes. The archeologists are onsite completing an initial Archeological Impact Assessment survey that is required to allow for the expansion of the drill program.
Once the geological, geophysical and archeological programs are completed, the data will be interpreted and compiled with the results from the recently completed drill holes and a plan will be formatted to design and re-commence an expanded diamond drill program.
The Company as part of its exploration program recently acquired 3 additional mineral claims through staking expanding its North ROK Property area from 3,449 hectares to 5,188 hectares.
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 British Columbia and the Yukon and is also aggressively seeking quality properties in the US southwest and Latin America. Colorado’s current exploration focus is on the Red Chris area.
ON BEHALF OF THE BOARD OF DIRECTORS OF
COLORADO RESOURCES LTD.
President and Chief Executive Officer
For more information, please contact:
Colorado Resources Ltd.
Adam Travis, President and Chief Executive Officer or
Terese Gieselman, Chief Financial Officer and Secretary
T: (250) 768-1511
F: (250) 768-0020
TF (855) 768-8511
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.
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.