Tickers: XTSX:AIIM, PINX:MJXFF
Tags: Mining
Chelsea, Quebec / The Newswire / March 1, 2019 - Albert Mining Inc. (the "Company" or "Albert Mining") (TSX-V: AIIM) an exploration mining company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 in the mining sector, is pleased to announce that Spruce Ridge Resources published today positive results of last diamond drill holes over the Ni main target on its Crawford Property generated last July through use of Albert Mining's CARDS AI Technology.
Spruce Ridge Resources Ltd. (TSX-V" SHL) - ("Spruce Ridge" or the "Company") announced the results of its 2018 winter drill program on the Crawford nickel project near Timmins, Ontario. Four holes totalling 1,818 metres were drilled on the Crawford Ultramafic Complex. Three of the holes intersected serpentinized dunite with persistent nickel values greater than 0.25% Ni over core lengths of up to 291 metres. Using a lower threshold of 0.20% Ni, long intervals are present in all four holes, with a maximum core length of 558 metres. Individual samples of 1.5 metre core intervals reported up to 0.669% Ni. Potentially significant assays of cobalt, platinum and palladium were also reported. The following table summarizes the results averaged over their respective intervals.
CRAWFORD NICKEL PROJECT - 2018 DIAMOND DRILLING RESULTS | ||||||||
DDH ID | From | To | Length | Ni (%) | Co (ppm) | Pt (g/t) | Pd (g/t) | Au (g/t) |
SUMMARY OF INTERVALS PASSING 0.25% Ni CUTOFF | ||||||||
CR18-01 | 234.00 | 525.00 | 291.00 | 0.293 | 118 | 0.011 | 0.020 | 0.002 |
includes | 238.50 | 393.00 | 154.50 | 0.320 | 120 | 0.012 | 0.029 | 0.001 |
includes | 238.50 | 283.50 | 45.00 | 0.384 | 144 | 0.019 | 0.061 | 0.001 |
CR18-03 | 475.50 | 606.00 eoh | 130.50 | 0.299 | 140 | 0.028 | 0.055 | 0.006 |
includes | 492.00 | 547.50 | 55.50 | 0.324 | 139 | 0.028 | 0.096 | 0.005 |
includes | 492.00 | 516.00 | 24.00 | 0.333 | 140 | 0.060 | 0.201 | 0.011 |
CR18-04 | 205.50 | 402.00 eoh | 196.50 | 0.332 | 135 | 0.010 | 0.027 | 0.002 |
includes | 208.50 | 285.00 | 76.50 | 0.358 | 156 | 0.017 | 0.041 | 0.001 |
includes | 208.50 | 220.50 | 12.00 | 0.532 | 220 | 0.030 | 0.070 | 0.001 |
SUMMARY OF INTERVALS PASSING 0.20% Ni CUTOFF | ||||||||
CR18-01 | 36.00 eoc | 594.00 eoh | 558.00 | 0.261 | 127 | 0.010 | 0.016 | 0.002 |
CR18-02 | 24.00 eoc | 175.50 | 151.50 | 0.224 | 126 | 0.005 | 0.005 | 0.001 |
CR18-02 | 175.50 | 216.00 eoh | 40.50 | Dunite less than 0.20% Ni | ||||
CR18-03 | 51.00 eoc | 288.00 | 237.00 | Mafic volcanic and marginal zone | ||||
CR18-03 | 288.00 | 606.00 eoh | 318.00 | 0.248 | 126 | 0.019 | 0.028 | 0.003 |
CR18-04 | 42.00 eoc | 72.40 | 30.40 | Mafic volcanic | ||||
CR18-04 | 72.40 | 193.50 | 121.10 | Dunite less than 0.20% Ni | ||||
CR18-04 | 193.50 | 402.00 eoh | 208.50 | 0.324 | 135 | 0.018 | 0.028 | 0.003 |
SELECTED INTERVALS WITH ELEVATED PGEs | ||||||||
CR18-03 | 492.00 | 493.50 | 1.5 | 0.285 | 140 | 0.219 | 0.567 | 0.004 |
CR18-03 | 507.00 | 511.50 | 4.50 | 0.339 | 140 | 0.059 | 0.498 | 0.048 |
CR18-04 | 165.00 | 166.50 | 1.50 | 0.182 | 120 | 0.069 | 0.570 | 0.006 |
Dumont Deposit average grade for comparison | 0.27 | 107 | 0.009 | 0.020 | n/a | |||
Note: eoc = End of Casing; eoh = End of Hole | ||||||||
The 2018 drilling program by Spruce Ridge and its Joint Venture partner, a group of private investors, was focussed on the Crawford Ultramafic Complex, a 3.5-kilometre long body of peridotite, dunite and their serpentinized equivalents. The target was defined by a helicopter-borne magnetic and electromagnetic survey and an airborne gravity survey, both conducted over of the entire project area of 100 sq. km. An Artificial Intelligence (A.I.) review of data, provided by Albert Mining Inc. (AIIM), also identified the area as being prospective for nickel.
Mr. Michel Fontaine, President & CEO at Albert Mining, stated: Artificial Intelligence cannot replace Geologists in the mining industry, CARDS is simply a powerful tool using AI and Data Mining that helps them with their targeting. By utilizing data collected from Geologists, EM conductors from geophysics and the use of Artificial Intelligence (Algorithms) we have developed in the last 14 years and field tested a tool that has proven to help with grass-root and advanced mining projects. Combining geophysics data, topography data and powerful computing (AI) enables us to find patterns discriminating assays positive and negative. Albert is the future as a tool for exploration and for advanced projects. I am more convinced than ever with this discovery
If you look at this map done by Spruce Ridge Resources, you will find the area grouping these 3 methods. Check the Ni AGEO model (second map) biggest red target.
https://www.spruceridgeresources.com/crawford.php
Albert Mining will be participating in PDAC 2019, booth #2149 Convention Center, March 3-6, Toronto, Canada.
About Albert Mining Inc. - Powered by Artificial Intelligence (AI) since 2005
Albert Mining is a services company using Artificial Intelligence (AI) with an extensive portfolio of gold, copper and zinc properties in Quebec. Albert can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, and mathematics. The Company's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining.
For further information, please contact:
Michel Fontaine
President and CEO of Albert Mining Inc.
Telephone: 514-994-5843
Email: michel@albertmining.com
Website: www.albertmining.com
This news release contains certain "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the resumption of the trading of Albert shares on the TSX Venture Exchange. Statements regarding future production, capital expenditures and development plans are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in Albert Mining's public disclosure documents, copies of which are available on Albert Mining's SEDAR profile at www.sedar.com.
Although Albert Mining believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Albert Mining's actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and except as required by applicable securities laws, Albert Mining disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Copyright (c) 2019 TheNewswire - All rights reserved.
