Summer Glenrock Property Exploration Results

TORONTO - CR Capital Corp. reported that the results from its surface rock and soil geochemical sampling program for the Glenrock Gold Property located 100 km north of Sault Ste. Marie, Ontario.  The Property consists of 109 cell claims totaling approximately 1,800 hectares and is contiguous to the southeast with the larger Coppercorp Property also held 100% by CR Capital. The exploration program was undertaken in follow-up to the results of the sampling program reported in the January 13, 2020 News Release.

During the program, the work focus was on the further assessment of the Glenrock West gold showing area for which 24 rock samples were obtained from outcrop or subcrop and 70 soil samples were collected over a GPS located grid covering the area.

As well, an additional 47 predominantly previously unsplit core samples were collected from three historic drill holes completed in 1988 in the Glenrock West area which are stored at the ENDM core library in Sault Ste. Marie. This was in follow-up to the core sampling program discussed in the January 13 News Release.  The Company thanks the personnel of the Sault Ste. Marie Resident Geologist office for their repeated aid and support in conducting this work.

The results of the 2020 program continue to be highly encouraging and have resulted in the delineation of excellent targets for diamond drill testing. Surface rock 0.5 square meter composite grab samples in the vicinity of the Glenrock West area from this visit reported mineral values of up to 3.29 g/t Au, 0.7 g/t Ag, 0.21% Cu, 94 ppm Co, and 0.57 g/t Au, 1.3 g/t Ag, 0.43% Cu, 540 ppm Co.  The results of the soil sampling delineated an up to 100 m wide and 200 m long, WNW elongated trend of highly elevated Au values in 15 samples ranging from 0.001 g/t Au to 1.72 g/t Au and averaging 0.18 g/t Au. The soil anomaly remains open along strike in both directions as to the west it trends laterally into a swamp where samples could not be taken, and to the east it trends towards the Glenrock Main gold showing area. As a result, additional soil and rock sampling along this trend and to the north is warranted.

Sampling of historical core from the government core library returned encouraging new results reporting up to 0.99 g/t Au over 0.8 m in unsplit core.  Combining this core sampling with those from the previously announced January 13, 2020 News Release, the results widen the intersections in two historical holes that are located directly to the east and west of the Glenrock West Showing. DDH #475-88-16 (150 m directly to the west of Glenrock West, 232 deg. azumuth, -45 deg. dip) now averages: 17.0 metres (true width approximately 13.1 m) of 0.45 g/t Au, from 8 m to 25 m downhole. DDH #475-88-24 (100 m directly to the east of Glenrock West, 005 deg. azimuth, -45 deg. dip) now averages 3.4 meters (true width approximately 2.6 m) of 0.77g/t Au, from 28 m to 31.4 m downhole. In view of the gold values encountered in the historical drilling located laterally on both sides of the Glenrock West Showing, the showing and immediate area should be explored with additional drilling.

Based upon the results of the CR Capital’s exploration in the Glenrock area encompassing both the Glenrock Main and Glenrock West Showings, an east-west trending, highly prospective, surface exposed, zone of elevated to high-grade gold results based is defined from 32 single to composite one square meter grab rock samples averaging 1.61 g/t Au, and ranging in values from 0.001 g/t Au to 10.6 g/t Au.  Twenty five out of the 32 samples returned values of greater than 0.1 g/t Au.  Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property. Based upon the sampling, the gold-enriched zone has now been extended to 300 m along an E-W strike and remains open for additional exploration laterally in both directions.  

Geophysically, the gold-enriched zone is spatially coincident with a portion of a more extensive, 600 m by 75 m, ground IP high charge-ability anomaly that had been identified in a 1997 survey, and which also remains open to the west. In addition to the Glenrock Main and West showings, there are numerous other historical gold prospects documented on the Property, none of which have not been subjected to any modern gold exploration in the last 21 years.  Additional prospects include the nearby: Glenrock North Showing where previous historic drilling reported 3.4 g/t Au over 4.2 meters (DDH #AR97-04 collar location UTM NAD83 Zone16 684020E 5209046N,  345 deg. azimuth, -45 deg. dip,  true width approximately 2.8 m) testing a trench result of 6.33 g/t Au over 4.0 meters (true width approximately 3.4 m), Glenrock Northwest Showing where a single historic test hole reported 1.2 g/t Au over 17 meters (DDH #AR97-08 collar location UTM NAD83 Zone16 683636E 5209322N, 165 deg. azimuth, -45 deg. dip,  true width approximately 11.3 m), and a recent surface rock grab sample obtained by the Company in area of sparse outcrop reported 13.4 g/t Au. Both these prospect areas are associated with sub-parallel high charge-ability IP anomalies and recommended for follow-up exploration.

STP Au-Cu showing two km to the east in which historic drilling has reported up to 1.6 g/t Au, 43 g/t Ag, 3.06% Cu over a 6.53 meter length (exact location and true width unknown), and where recent grab sampling of trenches by the Company has returned values of up to 3.47 g/t Au. The Palmer Au showing three kilometers to the southeast reporting historic grab sampling of up to 0.49 oz/t Au and a recent surface grab sample of a trench by the Company reporting a value of 2.5 g/t Au. Numerous additional high charge-ability IP anomalies remain untested throughout the Property in areas of limited outcrop coverage.