Cream Minerals Reports Assay Results for the Nuevo Milenio Silver-Gold Project, Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/06/11 -- Cream Minerals Ltd. (TSX VENTURE: CMA)(OTCBB: CRMXF)(FRANKFURT: DFL) ('Cream' or the 'Company') is pleased to announce receipt of assay's from seven in-fill drill holes on the Veta Tomas structure. A total of thirteen drill holes have been completed on the Veta Tomas structure with six results pending. The Company is pleased to note confirmation of the structures continuity.
As of May 15, 2011, 38 holes have been drilled and the samples shipped for assay. This represents 7,500 metres of the present 10,000 metre program which is well ahead of schedule. Widths reported in this news release represent drill intercepts and are not true widths. The Company is pleased to announce that the option for a second 10,000 metres of drilling has been exercised.
ASSAY RESULTS
Highlights:
-- VT - 06 - 11; 0.715 g/t Au and 144.95 Ag g/t Ag over 12.3 metres
including, 1.746 g/t Au and 374.10 g/t Ag over 4.58 metres, and,
-- VT - 08 - 11; 0.722 g/t Au and 168.80 g/t Ag over 7.61 metres including,
0.906 g/t Au and 248.63 g/t Ag over 4.08 metres.
Section 13: VT - 01 - 11
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From To Width Au Ag
VT-01-11 Sample # m m m ft g/t g/t
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Weighted average 51195 - 97 110.21 114.00 4.34 14.2352 1.010 43.39
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including 51195 - 96 110.21 112.32 1.82 5.9696 2.110 90.32
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including 51196 111.03 112.32 1.29 4.2312 2.415 114.1
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Section 14a: VT - 02 - 11
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From To Width Au Ag
VT-02-11 Sample # m m m ft g/t g/t
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breccia fault Vein 51248 37.50 37.76 0.26 0.8528 0.016 17.40
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breccia fault Vein 51249 37.76 40.66 2.90 9.512 0.182 16.10
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breccia fault Vein 51250 40.66 41.96 1.30 4.264 0.151 9.40
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Weighted Average 521248 - 50 37.50 41.96 4.46 14.93 0.163 14.22
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Section 14c: VT - 03 - 11
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From To Width Au Ag
VT - 03-11 Sample # m m m ft g/t g/t
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weighted Average 51306 - 11 142.56 151.28 8.72 28.60 0.594 90.77
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including 51307-10 144.05 149.28 4.38 14.38 1.139 164.94
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including 51307-09 144.05 147.28 3.23 10.59 1.316 199.18
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including 51308 - 09 145.16 147.28 2.12 6.95 1.813 256.45
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including 51308 147.28 146.27 1.01 3.31 1.614 367.50
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Section 14 b: VT - 04 - 11
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From To Width Au Ag
VT - 04-11 Sample # m m m ft g/t g/t
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weighted average 51410 - 14 122.17 125.89 3.72 12.20 0.218 41.11
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including 51410 - 13 122.17 124.84 2.67 8.76 0.285 56.57
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including 51410 122.17 122.54 0.37 1.21 0.917 182.00
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including 51412 122.54 123.50 0.96 3.15 0.584 111.00
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Section 16: VT - 05 - 11
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From To Width Au Ag
VT - 05 -11 Sample # m m m ft g/t g/t
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Fault qtz vein 51453 40.63 41.72 1.09 3.58 0.037 51.30
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Fault quartz
breccia 51458 46.17 47.02 0.85 2.79 0.368 150.70
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Section 16: VT - 06 - 11
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From To Width Au Ag
VT-06-11 Sample # m m m ft g/t g/t
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weighted Average 51512 - 19 90.37 102.50 12.13 39.78 0.715 144.95
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including 51512 - 17 90.37 99.83 9.46 31.03 0.917 185.58
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including 51514 -17 94.21 99.83 5.62 18.43 1.470 311.53
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including 51515 - 17 95.25 99.83 4.58 15.02 1.746 374.10
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including 51514 -16 94.21 98.13 3.92 12.86 2.052 434.97
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including 51515 - 16 95.25 98.13 2.88 9.45 2.703 579.05
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including 51515 98.13 97.26 0.87 2.85 3.673 776.70
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Section 15b: VT - 08 - 11
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From To Width Au Ag
VT 08 -11: Sample # m m m ft g/t g/t
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weighted average 51606 - 12 107.38 114.99 7.61 24.96 0.722 168.80
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including 51607 - 12 108.64 114.99 6.35 20.83 0.865 202.29
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including 51609 - 12 110.91 114.99 4.08 13.38 0.906 248.63
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including 51610 - 11 112.06 114.73 2.67 8.76 1.124 358.06
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including 51610 112.06 113.39 1.33 4.36 0.894 249.50
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including 51611 113.39 114.73 1.34 4.40 1.352 465.80
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ABOUT THE 2011 DRILL PROGRAM
The 2011 drilling program is comprised of 10,000 metres with an option for an additional 10,000 metres. The majority of the initial 10,000 metres is comprised of in-fill drilling intended to accumulate sufficient data to upgrade the Inferred Mineral Resource. In addition, at Once Bocas, drilling will be conducted to define the 100 metre wide quartz vein/quartz stockwork zone including in-fill drilling to delineate the potential of the higher grade vein structures at depth. Some step out drilling will be conducted to test known extensions of Once Bocas North, Once Bocas South, Chacuaco and Cafetel's open pit and underground potential.
Mr. Ferdinand Holcapek, P. Eng., Director and Administrator General, Cream Minerals De Mexico, SA de CV, supervises exploration programs on the Nuevo Milenio Project. He is responsible for all technical reporting and is the Company's 'Qualified Person' for the purpose of National Instrument NI 43-101.
Cream Minerals is a silver-gold exploration company. The Company's flag ship project is the Nuevo Milenio silver - gold project in Nayarit State Mexico. To learn more about Cream Minerals please click here www.creamminerals.com.
This news release contains 'forward-looking information' within the meaning of applicable Canadian securities regulations and including 'forwarding-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. This forward-looking information is made as of the date of this News Release and except as required under applicable securities legislation, the Company does not intend and does not assume any obligation to update this forward-looking information. Forward looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this News Release includes, but is not limited to the planned drilling program on the Nuevo Milenio project and the Nuevo Milenio project's estimated mineral resource. Forward-looking information is based on a number of assumptions which management believes are reasonable including that equipment, personnel and approvals will be available when required to complete the planned drilling program, that no disruption to the program will occur as a result of breakdown, labour disputes, or natural hazards, that the assumptions underlying the inferred resources estimate are valid, including but not limited to the projected future prices of silver and gold, continuity of mineralization and grades, and expected recovery methods and rates. Factors which could cause actual results to differ materially from current expectations include, but are not limited to: the risk that actual results of exploration activities will be different than anticipated, that cost of labour, equipment or materials are more than expected, that the future price of silver and/ or gold will differ materially from those implied or estimated, that Canadian / US dollar exchange rates vary in a manner that has a negative effect on the resource estimate, unanticipated delays in obtaining governmental approvals or required financing; that changes in project parameters result in increased costs, of unexpected variations in mineralization, grade or recovery rate and other factors on which the mineral resource estimate is based, of failure of equipment or processes to operate as anticipated, of accidents, labour disputes and other risks generally associated with mineral exploration and development; a deterioration in general economic conditions; and changes in laws, rules and regulations applicable to Cream and the Nuevo Milenio project.
CAUTIONARY NOTE TO U.S. READERS REGARDING MINERAL RESOURCES
The United States Securities and Exchange Commission ('SEC') allows mining companies, in their filings with the SEC, to disclose only those mineral deposits they can economically and legally extract or produce. The Company uses certain terms in this document, such as 'mineral resources', and 'inferred resources' that are recognized and mandated by Canadian securities regulators but are not recognized by the SEC. U.S readers are cautioned that while the term 'inferred resource' is recognized and required by Canadian regulations, the SEC does not recognize it. 'Inferred resources' have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. readers are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
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:
Cream Minerals Ltd.
Frank A Lang, BA, MA P.Eng.
Chairman
(604) 687-4622
(604) 687-4212 (FAX)
Cream Minerals Ltd.
Michael E. O'Connor
President & CEO
(604) 687-4622
(604) 687-4212 (FAX)
Cream Minerals Ltd.
Robert Paul
Investor Relations
(604) 687-4622
(604) 687-4212 (FAX)
info@creamminerals.com
www.creamminerals.com