Colorado Completes Model of Geophysical Data on its North ROK Property
WEST KELOWNA, BRITISH COLUMBIA -- (Marketwired) -- 04/26/13 -- COLORADO RESOURCES LTD. (TSX VENTURE: CXO) ("Colorado" or the "Company") is pleased to announce further to its release of April 25, 2013, the Company has compiled the existing geophysical IP and magnetic data to show a 3 dimension IP psuedo section and magnetic data on its North Rok property. For further details please see the Company's website www.coloradoresources.com under the headings BC Projects/North ROK/Maps&Sections.
Upon re-examination of the geophysical and magnetic data, it now appears Drillhole NR13-002 which was targeted to test a second 500 by 700 metre magnetic feature may have been stopped short of adequately testing the IP chargeability anomaly.
The Company's technical team is currently preparing a work program that will include deepening of Drillhole NR13-002 and commencing several 100 metre spaced step out drill holes adjacent to discovery Drillhole NR13-001.
Adam Travis, the Company's President and CEO stated, "In light of yesterday's significant results we have further compiled our geophysical data and I am very pleased to see this data appears to indicate that our initial drilling has barely scratched the surface of what appears to be a very robust Copper/Gold system. We clearly need to conduct more IP geophysics to the south and at depth and continue drilling."
Qualified Person
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.
About Colorado
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 primary exploration focus is on the Eldorado and North ROK properties in the Red Chris area.
ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD.
Adam Travis, President and Chief Executive Officer
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 prospectus dated September 16, 2010 for a more complete discussion of such risk factors and their potential effects, a copy of which may be accessed through the Company's page on SEDAR at www.sedar.com.
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.
Contacts:
Colorado Resources Ltd.
Adam Travis
President and Chief Executive Officer
(250) 768-1511 or TF (855) 768-8511
Colorado Resources Ltd.
Terese Gieselman
Chief Financial Officer and Secretary
(250) 768-1511 or TF (855) 768-8511
(250) 768-0020 (FAX)
www.coloradoresources.com