1199 WEST PENDER STREET, SUITE 408
VANCOUVER
British Columbia
Canada,
V6E 2R1
Phone: +1 (604) 694-0005
Fax: +1 (604) 684-9365
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Developing Mexico's Largest Molybdenum Deposit
Creston Moly Corp. is actively developing its 100% owned Creston Molybdenum Deposit in Mexico's mining friendly state of Sonora.
The Creston Open-Pit Deposit contains one of the largest undeveloped molybdenum resources* in the western hemisphere, including 169.9 million pounds in the indicated category and another 141.1 million pounds in the inferred category, at an average grade of 0.08% Mo. Previous metallurgical testing indicates recoveries in excess of 87% for Creston's resources.
The size, grade and metallurgical characteristics of these resources, and the fact that they occur within an open pit configuration with very low strip ratios, all indicate that the Creston deposit has the potential to become Mexico's premier molybdenum mine. The Creston site also benefits from the location, climate and existing infrastructure required for year-round production.
The Creston Molybdenum Deposit contains 311 million pounds of Molybdenum as follows:
- 92.8 million tonnes classified as an indicated resource grading 0.083% Mo.
- 84.2 million tonnes classified as an inferred resource grading 0.076% Mo.
* Source 43-101 Compliant P&E Mining Consultants (March 2007)
BACKGROUND
The Creston Molybdenum deposit was extensively explored by major mining companies (Amax, Penõles, Fresnillo) during the 1970's and early 1980's. By 1981, Amax had advanced the project to the feasibility stage; however, due to the collapse of the molybdenum market, the project was "mothballed".
In 1994, two astute Mexican nationals staked the heart of the property when the claims came open.
In May 2007, Creston Moly Corp. (formerly Georgia Ventures Inc.), raised $40 million in a bought deal financing through Canaccord Capital and Orion Securities, enabling the Company to purchase a 100% interest in the Creston deposit, leaving substantial cash on hand for near-term development.
PRESENT & FUTURE PLANS
Drilling is underway on the main zone of the Creston deposit in order to upgrade inferred resources to the indicated category. Upon completion of approximately 10,000 metres of infill drilling, the Company will be able to confidently establish a resource that will form the backbone of a feasibility study. When completed in 2008, plans for optimal production will commence.
BLUE SKY
In addition to the resources contained within the open-pittable main zone, other nearby molybdenum zones have been identified which could make a significant contribution to the overall resource within our 18,000
hectare property.
Mineralized Zones in Sonora
Creston's Property - over 18,000 hectares
Entrance to Amex upper tunnel
For more information visit:
www.crestonmoly.com
Company NewsThursday, July 02, 2009 Creston Moly announced a nonbrokered private placement of up to 30,000,000 units (a “Unit”) at a price of $0.10 per unit. Each Unit will consist of one common share and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share in the capital of Creston at $0.15 per share for a period of 24 months from the date of issue of the Warrant. Map Legend: Producer Past Producer  Development  Exploration |
