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Last updated on April 18, 2014 at 5:30 EDT

Cliffmont provides exploration update at San Luis Property, Colombia

August 23, 2012

VANCOUVER, Aug. 23, 2012 /PRNewswire/ – Cliffmont Resources Ltd. (TSX-V – CMO) (“Cliffmont” or the “Company”) is pleased to provide the following exploration update at its San Luis
Project in Huila, Colombia.

Cliffmont recently completed a sampling and mapping program at El Callao
mine to confirm historical sampling by TVX Mineria Ltda. whose channel
sampling indicated 8.74 g/t gold over a width of 1.07 metres along a
length of 115 metres. A total of 21 channel samples of sulphide
mineralization were collected by Cliffmont where access was possible in
the old workings. The assays are presented on Table 1. The approximate
location of Cliffmont’s samples relative to TVX Mineria’s samples is
shown on Figure 1 and Table 2. Cliffmont’s results substantiate the
sampling of TVX Mineria.

For Figure 1, please follow this link: http://files.newswire.ca/1115/Figure1.pdf

For Table 2, please follow this link: http://files.newswire.ca/1115/Table2.pdf

Table 1

     __________________________________________________________________
    |        |       |        |Sample|      |      |      |      |     |
    |        |       |        |Width |      |      |      |      | Rock|
    |Sample #|Easting|Northing|   (m)|Au g/t|Ag g/t|Pb-ppm|Zn-ppm| type|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402006| 440791|  337483|   0.3|  10.9|  6.16|  1615|   533| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402007| 440796|  337485|   0.4|  0.35|  0.96|   363|    84|Fault|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402008| 440798|  337486|   0.4|  22.2| 13.25|   673|    70| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402009| 440803|  337488|   0.4|  9.26|  5.38|  1060|   206| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402010| 440817|  337490|   0.3|  0.07|  2.51|  1640|   282|Fault|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402011| 440825|  337492|  0.35|  39.9|  16.6|  2040|   298| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402012| 440826|  337492|   0.2|  41.6|  23.4|  1375|  3230| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402013| 440826|  337492|   0.3|  0.22|  0.47|  1300|   252|Fault|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402014| 440831|  337493|   0.3|  9.87|  10.5|  1045|  3080| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402015| 440840|  337495|   0.4|  30.4|  45.7|  2140|  1990| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402016| 440856|  337501|   0.3|  23.6|  43.6|  2890|   145| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402017| 440840|  337495|  0.45|  9.83|   8.3| 10750|   321| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402018| 440865|  337507|   0.3|  9.78|  9.31|  1000|   129| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402019| 440857|  337494|  0.18|  25.3|   8.8|  3380|   184| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402020| 440855|  337494|  0.19|  27.1|  15.1|  1520|   106| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10402021| 440845|  337493|  0.58|  5.62|  10.5|  2030|   500| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10202001| 440865|  337507|   0.2|  7.41|  31.1|   558|   120| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10202002| 440872|  337511|   0.2|  27.2| 14.45| 12300|   259| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10202003| 440876|  337513|   0.9|  8.01|  8.21|  2180|  2030| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10202004| 440883|  337520|   0.6|  7.04|  23.6| 14250|  2430| Vein|
    |________|_______|________|______|______|______|______|______|_____|
    |        |       |        |      |      |      |      |      |     |
    |10202005| 440885|  337526|   0.4| 10.75|   107|  1550|   532| Vein|
    |________|_______|________|______|______|______|______|______|_____|

 

“We are very pleased with our initial sampling results at El Callao Mine
which confirm the high grade gold mineralization previously recorded by
TVX Mineria Ltda. We look forward to drilling which is due to commence
in the next ten days to determine the geometry and continuity of this
mineralization. We are expecting to find higher grade mineralization
outside of the already exploited areas.” stated Jeff Tindale, President
and CEO.

El Callao is a vein structure that runs perpendicular to the San Jorge
vein structure in the south central area of the project.  The structure
has been traced on surface for over 250 metres. El Callao is a quartz -
adularia vein-breccia that has only been exploited along approximately
120 metres of the main vein and to a maximum vertical extent of 60
metres.  There are several other veins which run parallel with El
Callao which will also be tested in the upcoming drill program.

Drilling Update

The first four scheduled drill holes (983.6 metres) have been completed
at the San Jorge mine and drilling will now move to the Merceditas and
El Callao mine areas. Drilling targeted the known epithermal
mineralized zones in the past producing mine and results indicate
continuity at depth. Assays are pending and will be reported once
received and evaluated.

Because of mechanical difficulties with the drill used at San Jorge the
drill program has been delayed. Cliffmont has replaced the drill
contractor with a new drilling company which is due to commence
drilling this week targeting the previously undrilled, high priority
areas at Merceditas and El Callao.  Two drill rigs will be used to
expedite the drilling and the Company anticipates the first phase of
drilling will be completed by mid-October.

Targets for the Phase I drill program have been identified through
detailed mapping, sampling and geophysics (induced
polarization/resistivity). The results of historical work combined with
recent exploration indicate the potential of high-grade epithermal
targets in an intermediate sulphidation environment.  Mineralization
within the property extends over an area 7km x 3km. The mineralization
that has been mined to date on the property comprises free gold and
gold associated with sulphides, contained in quartz veins and breccias
hosted by fault zones that are splays of regional structures. The
veins/breccias exploited to date have been shown to persist over a
vertical range of at least 500 metres. The close proximity of the
mineralized structures to one another demonstrates the endowment of the
district.

See property wide location map here: http://files.newswire.ca/1115/LocationMap.pdf

“We are looking forward to drilling at Merceditas and El Callao and
testing the newly established targets identified by the ongoing
exploration program. The Company has taken the necessary steps to
ensure that the Phase I drill program will be completed on schedule and
on budget.” stated Jeff Tindale, President and CEO.

The Company is also pleased to announce it has received $1,014,604 upon
the exercise of 2,536,510 stock purchase warrants (the “Warrants”) of
the Company. The warrants were exercised at a price of $0.40 each,
which were exercisable on or before August 11, 2012.

Kieran Downes, Ph.D., P.Geo, a qualified person as defined by National
Instrument 43-101, has reviewed and approved the contents of this
release.

All samples were assayed by ALS Chemex in Lima, Peru, an ISO 9001:2000
certified laboratory, after preparation at the ALS Chemex facility in
Bogota, Colombia.

ON BEHALF OF THE BOARD

“Jeff Tindale”
Jeff Tindale, President and CEO

About Cliffmont Resources:
Cliffmont Resources Ltd. (TSX-V:CMO) is a Vancouver-based company
focused on the exploration of precious and base metals in Colombia’s
prolific San Luis mining district.  The Company has a 100% option in
the San Luis Project, comprising 2,701 hectares, including an
exploitation concession located on the Eastern flank of the Central
Cordillera of Colombia within the Department of Huila.  As a first
mover in one of Colombia’s most prolific under-developed gold
districts, the Company is well funded and is currently conducting an
aggressive, but focused, exploration program. The San Luis Project
consists of a mineralized area that spans over 7km x 3km hosting
epithermal gold and silver targets, including multiple past producing
gold mines.  Cliffmont’s head office is located in Vancouver, Canada
and has offices in Bogota and Neiva, Colombia.

For further details on Cliffmont Resources, please see our website at www.cliffmontresources.com

Forward Looking Statements. This Company news release contains certain “forward-looking” statements
and information relating to the Company that are based on the beliefs
of the Company’s management as well as assumptions made by and
information currently available to the Company’s management. Such
statements reflect the current risks, uncertainties and assumptions
related to certain factors including, without limitations, competitive
factors, general economic conditions, customer relations, relationships
with vendors and strategic partners, the interest rate environment,
governmental regulation and supervision, seasonality, technological
change, changes in industry practices, and one-time events.  Should any
one or more of these risks or uncertainties materialize, or should any
underlying assumptions prove incorrect, actual results may vary
materially from those described herein. “Neither 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.”

 

SOURCE Cliffmont Resources Ltd.

PDF available at: http://stream1.newswire.ca/media/2012/08/23/20120823_C9041_DOC_EN_17187.pdf

PDF available at: http://stream1.newswire.ca/media/2012/08/23/20120823_C9041_DOC_EN_17188.pdf

PDF available at: http://stream1.newswire.ca/media/2012/08/23/20120823_C9041_DOC_EN_17189.pdf


Source: PR Newswire