Citation Announces Priority Drill Targets at Biricu Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/30/13 -- Citation
Resources Inc. (the "Company") (TSX VENTURE:CTT) is pleased to
announce that four priority drill target areas have been defined and
a 7,000 meter drill program has been designed for the Biricu Gold
Project located in Mexico's prolific Guerrero Gold Belt (GGB).
The four target areas identified have been outlined based on an
integration of geologic, geochemical and geophysical data collected
during field exploration programs conducted during 2012. The Company
has received the final detailed interpretation prepared by Condor
Consulting Inc., recognized experts in the field of airborne
electromagnetics, of the results of the airborne versatile
time-domain electromagnetic ("VTEM") survey completed by Geotech Ltd.
(news release December 5, 2012). A subsequent 5-day geologic field
review of the target zones identified in Condor's interpretation
report was completed in late December 2012 under the supervision of
the Company's consulting geologist, David M. Jones. The field review
involved the consideration of all geologic, geochemical and
geophysical data gathered to date in evaluating the VTEM survey
results and finalizing a first round exploration drill program.
Matthew Watson, Chairman of Citation commented, "Preliminary field
work, consisting of reconnaissance mapping and geochemical sampling
is completed in most of the highest priority areas of the property.
We have received very encouraging EM results from the survey which,
combined with the equally encouraging ground activities and
geochemical sampling, have enabled Citation to identify a number of
priority drill targets. The target areas each show strong
similarities in geologic setting, alteration, and geochemical
patterns to those of the numerous gold skarn deposits of the Guerrero
Gold Belt. We are excited to now be planning the next phase of our
exploration activities on the Biricu Project that will involve drill
testing of the target areas identified to date."
Further technical details and the related full news release issued by
the Company on January 29, 2013 are available at
The Company's exploration program is being carri
ed out under the
direction of David M. Jones, technical consultant to the Company. Mr.
Jones has over 30 years' experience in mineral exploration and
project management. Mr. Jones has worked extensively throughout the
Guerrero Gold Belt for clients including Teck, Wheaton River,
Goldcorp, Penoles, Grupo Mexico, Torex, and a number of other
The technical content of this news release has been reviewed by and
has been verified by and is the responsibility of Richard Graham, P.
Geol., who is a Qualified Person as defined in NI 43-101.
About Citation Resources
Citation Resources Inc. is a growth-oriented, Canadian mining company
dedicated to the exploration and development of precious and base
metal resources. The Company has an option agreement with Esperanza
Resources Corp. to acquire a 100% interest in the Biricu Project
mineral exploration concession located in Guerrero State, Mexico. The
Biricu Project comprises more than 41,000 hectares of highly
prospectable ground and management believes that the Biricu Project
is the direct on-strike extension of five skarn deposits in the
Guerrero Gold Belt (El Limon-Los Guajes - Torex Gold Resources Inc.;
Bermejal, Los Filos, and Nukay - Goldcorp Inc.; Ana Paula - Newstrike
Some statements in this report contain forward-looking information.
These statements include, but are not limited to, statements with
respect to future exploration, expenditures, transactions and
financings. These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of to be materially different from any future results,
performance or achievements expressed or implied by the statements.
Such factors include, among others, risks related to actual results
of exploration activities, the timing and amount of expenditures and
the completion of transactions and financings.
ON BEHALF OF THE BOARD OF DIRECTORS
CITATION RESOURCES INC.
Nigel Kirkwood, CFO
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Citation Resources Inc.
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