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TSXV:CRU    OTC:CRUUF    FWB:SY7N
STAGHORN LAKE COBALT PROJECT

The Staghorn Lake Cobalt project is in northern Labrador within the Nain Plutonic Suite, situated north of Voisey’s Bay. 

Within the Staghorn Lake Cobalt Project occur numerous prospective cobalt-nickel occurrences; referred to as showings and prospects, and are described as follows:

  • The undrilled Iglusuataliksuak Lake Showing is defined by 9 rock samples of mineralized leucogabbro and anorthosite containing pyrrhotite and chalcopyrite that returned assay values up to 1.87%Ni, 0.56%Cu, 0.19%Co. The highest-grade cobalt sample; containing 0.19% was associated with 1.87%Ni and 0.13%Cu.
  • The undrilled Iglusuataliksuak Lake # 1 Showing is a copper-ickel-cobalt anorthosite showing containing chalcopyrite, magnetite and pyrrhotite.
  • The Kingurutik Lake A Zone Prospect is defined by 10 mineralized anorthosite grab samples and one drill hole. Grab samples returned assay values up to 0.11%Ni, 0.91%Cu and 0.02%Co. A drillhole intercept occurring at a down hole depth of 18.4-22.8m assayed; 0.85%Ni, 0.71%Cu and 0.09%Co over 4.4m.
  • The Staghorn Lake Showing is defined as a gossan from which 2 grab samples of mineralized anorthosite containing chalcopyrite, pyrite and pyrrhotite assayed 2.16%Cu, 1.00%Ni, 0.16%Co and 1.86%Cu, 1.00%Ni, 0.15%Co respectively.
  • The undrilled Staghorn Lake # 1 Showing is reported as a mineralized outcrop of leuconorite. Grab samples from an exposed gossan returned values up to 0.68%Ni and 4.0%Cu.  Subsequent sampling of fresh sulphides beneath the gossan yielded grab samples with up to 1.86%Ni, 0.95%Cu and 0.17%Co. The mineralization is described to be hosted in a massive sulphide pod within foliated leuconorite.

Ground geophysical surveys, geological mapping and prospecting and limited diamond drilling was performed intermittently 1995 – 2010 on the various Staghorn Lake Cobalt Project showings.

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