CRAZY HORSE RESOURCES INC KELOWNA, BRITISH COLUMBIA--(Marketwired - Jan 17, 2017) - Crazy Horse Resources Inc. (TSX VENTURE:CZH) (the "Company", "Crazy Horse") has completed and filed an Independent Technical Report dated 30 November 2016 for the 100 % owned Taysan Project ("Taysan", or "the Project"). The company commissioned Mining Associates ("MA") to prepare the Independent Technical Report for the Taysan Project to comply with Canada's National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI43-101") and the mineral resource classifications meet the updated 2014 CIM Definition Standards, culminating in an effective date of 30th November 2016 for the Mineral Resource. No additional drilling has been undertaken on the Project since 2011, and based on this report, the Company is no longer treating the Project as having reserves. The resource estimate is based on a conceptual pit design used to constrain reported resources. A cut-off grade of 0.1% copper was applied to all reported resource blocks within a conceptual pit design.
| Table 1: Mineral Resource Estimate reported November 2016 | |||||||||
| Resource (0.1% Copper Cut off) | M tonnes | Cu % | M lbs Cu | Au g/t | Ag g/t | Magnetite % | M oz Au | M oz Ag | Mt Magnetite |
| Measured | 156 | 0.31 | 1,077 | 0.12 | 1.2 | 3.3 | 0.61 | 5.80 | 5.20 |
| Indicated | 301 | 0.23 | 1,493 | 0.09 | 0.7 | 3.2 | 0.84 | 6.50 | 9.62 |
| M + I | 456 | 0.26 | 2,570 | 0.10 | 0.8 | 3.2 | 1.45 | 12.30 | 14.82 |
| Inferred | 300 | 0.19 | 1,239 | 0.08 | 0.5 | 2.8 | 0.72 | 4.85 | 8.44 |
In order to move the project forward, Crazy Horse will need to pursue the renewal and conversion of EP-IVA-005 to a Financial and Technical Assistance Agreement (FTAA) as required by the Mines and Geoscience Bureau (MGB). The full Technical Report is available on SEDAR.
ON BEHALF OF THE BOARD OF DIRECTORS OF CRAZY HORSE RESOURCES INC.
Dev Randhawa, Chairman, CEO
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.
This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com.
