CJT Financial, Inc. Press Release

Press Correction and Geological Report

Jan 16, 2013, 16:53 ET from CJT Financial, Inc.

WEST JORDAN, Utah, Jan. 16, 2013 /PRNewswire/ -- "As a result of inquiries made by the British Columbia Securities Commission, the issuer is making the following news release."

  • What investor relations the Company is engaged in.
  • Current contact information for the Company

In a press releases prepared and issued by Success Global Investor Relations on September 9, 2010, September 14, 2010, September 30, 2010, and October 7, 2010 Brian R. Collins was listed as a contact person for the company in error. 

Brian R. Collins is not an employee or officer of the company and should not have been listed as a contact person. 

Effective today, the company has selected new Investor Relations representation. 

Pat Rost 
PMR & Co.
Contact # 858-353-8142

Or the company CJT Financial, Inc. 
N. Fred Anderson, President
801-679-3945
fred@cjtmining.com

Also included in today's press release is a copy of a recent mining property drilling report dated December 29, 2012  by CJT Mining, Inc. a wholly owned subsidiary


CJT Mining, Inc.  (Wholly owned Subsidiary of CJT Financial, Inc.)

Summary of Geologist Report on Drilling -  December 29, 2012

The company has just received the Drilling Summary Report from our Geologist, Brian R. Bond

In summary he makes a number of statements regarding the silver and gold verified in the drilling just completed:

  1. Compares the drilled area to the Round Mountain, NV;  Manhattan, NV; Silverton CO; Mulatos, MX projects "These are multi-million ounce, gold and silver deposits."
  2. "At Reveille, a thick sequence of limestone and dolomite is capped by volcanic flows… Silver and gold were mined from carbonate replacement deposits at their contacts."
  3. A figure of over 500,000 tons of ore were calculated… "There are indications that it could be greater.  The potential for gold bearing ore could be greater than that of silver as at Round Mountain, NV.
  4. "Gold and Silver mineralization were encountered in all eight of the holes which were completed.
  5. "… had the highest concentration of manganese oxides… Silver is associated with manganese oxides."
  6. "A speck of visible gold was observed in interval 45'-50' which was strongly silicified and choloritized dolomite."
  7. "… arsenopyrite occurs in intervals … Arsenic is a pathfinder element for gold."
  8. "Iron sulfides release the gold which they contain when they oxidize."
  9. "Drilhole CJT-6 was the most strongly mineralized hole that has been drilled to date." Since we are talking about silver and gold mineralization throughout, we can take this to mean that this hole had more gold silver mineralization than any of the others. 
  10. "Barite veinlets were between 395' and 515'… Gold and silver are often proximinal to barite veining." 
  11. "Sulfide minerals release the gold which they contain when they are oxidized." 
  12. "The bedrock consisted of strongly silicified volcanic (Twm), containing up to 5% manganese oxide dendrites.  Silver is associated with manganese oxides."
  13. "Gold is peripheral to silver, on the west side of the Reveille district.  The raito of gold to silver increases to the west, overlying the geophysical anomaly underneath claim block #1."
  14. "The mineralized zone on claim 370A gets thicker to the southwest, towards claim AP5.  The thickness of the overlying volcanic is much less than previously thought.  Consequently, the stripping ratio will be reduced…"
  15.  "Additional drill intercepts require assay.  Drillholes CJT-3 and CJT-4 should be analyzed for gold and not just silver.  Samples adjacent to mineralized intervals should be sent out for gold and silver assay."

This drilling is the first drilling of the western Reveille district with modern equipment, as well as the deepest to date. Eight (8) holes were completed for a total of 3800 feet drilled with from 305 feet to 600 feet per hole or an average of 475 feet.  The company objectives for the drilling program was to:

  1. Verify what type of geological structure we were dealing with,
  2. Verify the mineralization to a depth of several hundred feet
  3. Determine the size of the volcanic flow cap over the top of the mineralized host rock. This is needed to determine how much overburden we have to deal with when mining commences. 
  4. Begin the process of verifying the tonnage available for mining. 

All of the  company's objectives were met.

The report confirmed that the drilling was very successful.  Mineralization was found in all eight (8) holes and the start of a 9th hole before the drilling rig had a breakdown and had to pull out.  Additional drilling when the weather breaks is recommended to create the final tonnage numbers needed for the company to be ready to go into production by the end of 2013. Some tonnage estimates were made in the report but they covered a very small area just drilled, thus the need exists for additional drilling to create our total production tonnage verification.    

Reference was made to "Condor Consulting's 2011 Report using  magnetic, gravity and ZTEM traverses of the Reveille mining district to determined that sulfide mineralization is present from near surface to a depth of approximately 500 meters" or 1500 feet.  The mineralized host rock CJT is drilling is very close to the surface and initial mining design anticipates that several hundred feet of depth can be reached with open pit mining.  

Based on the information gleaned from our Geologist's report, we anticipate that more mineralization to the west and southwest from our just completed drilling should give us more than enough tonnage to continue with our plans to begin construction and production activities by the end of 2013. 

Posted by N. Fred Anderson, President  

 

 

SOURCE CJT Financial, Inc.