Compliance Energy Reports NIC Project Exploration Results
TSX-V TRADING SYMBOL: CEC
VANCOUVER, Jan. 19, 2012 /PRNewswire/ - Compliance Energy Corporation ("Compliance" or the "Company) is pleased to report the assay results
of 17 diamond drill holes from the Company's drilling program at NIC
project, approximately 10 kilometres southwest of Port Alice, British
Columbia. Highlights of the 2011 drilling program include hole NICS-04
which returned an intercept of 0.747 % Cu (copper) and 0.213 g/t Au
(gold) over 18.4 metres including 2.532% Cu and 0.666 g/t Au over 4.4 metres.
NIC 2011 Exploration Program
During 2011, Compliance completed 17 holes totaling 3,121 metres of
diamond drilling in two areas: 8 holes totaling 1,056 metres at NIC
South and 9 holes totaling 2,065 metres at NIC North. Compliance also
completed prospecting and rock geochemistry on the NIC property both
within the Klaskish Pluton and near the Lois Pluton; rock geochemistry
and geological mapping at NIC North; and prospecting and stream, soil
and rock geochemistry and geological mapping at NIC South. Prospecting
work and rock geochemistry within the Klaskish Pluton and near the Lois
Pluton failed to yield any significantly elevated values in target or
indicator elements for porphyry copper-molybdenum and related mineral
deposits. Much of the NIC Property remains unexplored; including areas
surrounding many recently built and planned.
Assay Results - NIC South
Significant intersections are noted above and in the following table
along with UTM collar locations:
(1) -True widths have not been calculated at this time.
One of the eight holes (11-NICS-06) not included in the above table was
abandoned in overburden.
Prospecting and geochemistry work completed at NIC South in 2011
included 2 stream moss mat samples, 116 GPS-grid based soil samples and
29 rock samples from an area approximately 500 metres by 500 metres
surrounding the NIC South showing. In addition, an orientation ground
geophysical survey consisting of I.P. and magnetics was conducted in
the area of the NIC South showing. Nineteen of the rock samples
yielded elevated values, including 10 with elevated multi-element
values in target (gold, silver, or copper) or possible indicator
elements (arsenic, bismuth, cadmium, chromium, lead, nickel, rhenium,
selenium, tellurium, tungsten, or zinc).
Assay Results - NIC North
Significant intersections are noted in the following table along with
UTM collar locations:
(1) -True widths have not been calculated at this time.
Three of the nine holes (11-NIC-01, 11-NIC-05 and 11-NICN-06) not
included in the above table did not contain significant intervals with
anomalous values of gold, silver, copper, molybdenum and/or rhenium.
Project Mineralization
The 2010 NIC exploration program confirmed the existence of a previously
indicated Cu/Mo porphyry system in the NIC North area. The
copper-molybdenum mineralization at NIC North is hosted by three
different pre-mineral phases of the Klaskish Pluton. Two different
post-mineral phases of the Klaskish Pluton occur as dikes. The
mineralization is open in four directions: to the northwest and
southeast along strike, to the southwest and to depth. Mineralization
in drill core is typically described as felsic-intermediate porphyritic
intrusive with fine grained matrix, 25% 1 to 3 mm. feldspar
phenocrysts, chlorite-silica-biotite alteration, 0.5% sulphides mainly
chalcopyrite with molybdenum both as fine grained clusters in
chlorite-biotite aggregates and as fine-medium grained clusters within
10% quartz-biotite-sulphide stockwork stringers surrounded by halos of
clay-altered phenocrysts in the intrusive.
Quality Assurance/Quality Control
All core samples, along with geochemical blanks and standards, as well
as all rock, soil and stream moss mat samples taken in 2011 from the
NIC Property were transported in batches by bonded transport carriers
from Campbell River, BC or Nanaimo, BC to Inspectorate Mining and
Exploration Service Ltd.'s facility in Richmond, BC where they were
received, prepared, and analyzed generally using their 50-4A-UT ICP and
Au-1AT-AA methods.
Jacques Houle, P.Eng. is the independent, qualified person pursuant to
the requirements of NI43-101 for the NIC Property acting on behalf of
Compliance Energy Corporation, and has reviewed the contents of this
news release.
On behalf of the Board of Directors,
COMPLIANCE ENERGY CORPORATION
John Tapics
About Compliance Energy Corporation
Compliance Energy Corporation is a mining exploration and development
company. Our primary holding is our interest in over 31,000 hectares of
coal rights on Vancouver Island, British Columbia, where we are focused
on developing the Raven Underground Coal Project of which we hold a 60%
interest. The remaining 40% is owned by I-Comox Coal Inc. (a subsidiary
of Itochu Corporation of Japan) and by LG International Investments
(Canada) Limited (a subsidiary of LG International Corp. of Korea).
The Company also holds a number of mineral exploration properties
totaling over 22,000 hectares on Vancouver Island, BC which are 100%
owned by the Company, some subject to certain royalty requirements. Our
shares trade on the TSX Venture Exchange under the symbol CEC and
investor information is available on our web site at www.complianceenergy.com.
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.
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Forward-looking statements
include, but are not limited to, statements that address activities,
events or developments that the Company expects or anticipates will or
may occur in the future, future mineral exploration activities, future
business strategy, competitive strengths, goals, expansion, growth of
the Company's businesses, operations, plans and with respect to
exploration results, the timing and success of exploration activities
generally, permitting time lines, government regulation of exploration
and mining operations, environmental risks, title disputes or claims,
limitations on insurance coverage, timing and possible outcome of any
pending litigation and timing and results of future resource estimates
or future economic studies. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"planning", "planned", "expects" or "looking forward", "does not
expect", "continues", "scheduled", "estimates", "forecasts", "intends",
"potential", "anticipates", "does not anticipate", or "belief", or
describes a "goal", or variation of such words and phrases or state
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and
assumptions, including the receipt of necessary regulatory approvals,
that counterparties to material agreements will duly perform their
obligations there under, the results of drilling and exploration
activities, that contracted parties provide goods and/or services on
the agreed timeframes, that equipment necessary for exploration is
available as scheduled and does not incur unforeseen break downs, that
no labour shortages or delays are incurred, that plant and equipment
function as specified, that no unusual geological or technical problems
occur, and that laboratory and other related services are available and
perform as contracted. Forward-looking statements involve known and
unknown risks, future events, conditions, uncertainties and other
factors which may cause the actual results, performance or achievements
to be materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or implied
by the forward-looking statements. Such factors include, among others,
the interpretation and actual results of current exploration
activities; changes in project parameters as plans continue to be
refined; future prices of minerals; possible variations in grade or
recovery rates; failure of equipment or processes to operate as
anticipated; the failure of contracted parties to perform; labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing or in the completion of
exploration, as well as those factors disclosed in the company's
publicly filed documents. Although the Company has attempted to
identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
SOURCE Compliance Energy Corporation
Hole Number
Easting
Northing
Elev.
From
(m)
To
(m)
Interval (1)
(m)
Au
g/t
Ag
g/t
Cu
ppm
Mo
ppm
Sb
ppm
11-NICS-01
599046
5569794
365
3.7
4.3
0.6
0.049
0.56
1736.3
0.82
2.04
and
85.8
87.5
1.7
<0.005
2.69
10.8
1.57
9.37
11-NICS-02
599047
5569793
365
5.3
7.5
2.1
0.019
0.09
697.3
3.91
4.21
11-NICS-03
599037
5569791
364
13.6
17.5
4.0
0.022
0.14
737.8
64.39
6.77
11-NICS-04
599036
5569790
364
0
2.4
2.4
0.038
0.17
1111.5
12.11
1.4
and
29.3
33.8
4.6
0.010
0.20
669.1
2.24
0.93
and
45.1
63.6
18.4
0.213
0.87
7469.8
29.29
9.37
including
50.2
54.6
4.4
0.666
2.37
25320.7
64.82
4.39
11-NICS-05
599039
5569790
364
29.0
34.6
5.6
0.046
0.17
1753.6
16.09
0.79
and
14.6
17.1
2.4
0.008
0.11
532.6
0.94
1.2
and
19.8
23.5
3.7
0.009
0.07
631.3
1.87
0.89
11-NICS-07
598796
5569800
359
181.3
182.2
0.9
0.016
0.34
617.4
0.54
0.48
and
203.0
205.8
2.7
0.359
0.46
155.7
1.37
1.73
and
258.2
260.5
2.3
1.101
0.40
182.3
1.12
0.92
and
275.9
277.9
1.7
0.075
0.13
34.9
0.7
4.28
and
300.5
303.0
2.6
0.041
0.37
1186
6.47
0.90
and
305.8
306.4
0.6
0.93
0.16
26.4
0.82
0.57
and
391.0
393.6
2.6
<0.005
0.37
636
0.64
0.46
and
415.2
416.5
1.2
0.005
0.34
546.8
1
1.48
and
418.3
419.4
1.1
<0.005
0.12
22.6
19.19
2.23
11-NICS-08
599131
5569783
384
87.5
89.0
1.5
0.009
18.98
127.2
2.22
1.66
and
119.8
121.3
1.5
<0.005
0.11
544.7
0.86
0.77
and
124.4
125.8
1.4
0.01
0.11
638.2
0.52
0.55
and
187.2
195.4
8.2
0.030
0.78
624.9
0.88
2.66
and
206.1
207.6
1.5
0.012
0.38
129.3
6.94
0.52
and
221.6
223.2
1.5
0.024
0.57
628.6
5.85
0.95
and
240.2
241.5
1.2
0.008
1.43
128.5
0.74
0.86
and
246.8
248.3
1.5
0.008
3.68
96
1.21
1.88
and
258.5
260.1
1.5
0.009
0.79
183
7.81
22.26
and
266.5
283.2
16.8
0.007
1.42
124.7
1.19
0.98
Hole Number
Easting
Northing
Elev.
From
(m)
To
(m)
Interval
(m)
Au
g/t
Ag
g/t
Cu
ppm
Mo
ppm
Re
ppm
11-NICN-02
600391
5575324
447
4.9
215.2
210.4
0.029
0.83
826
26.8
0.006
and
215.2
273.2
57.9
0.010
0.77
229
125.5
0.025
11-NICN-03
600197
5575120
378
4.3
185.4
181.1
0.019
0.54
458
88.9
0.035
including
16.5
71.3
54.9
0.027
0.64
639
150.6
0.063
and
117.1
153.7
36.6
0.015
0.64
580
79.4
0.031
11-NICN-04
600247
5575417
546
2.4
32.9
30.5
0.015
0.43
227
61.0
0.029
and
69.5
127.4
57.9
0.019
0.59
815
110.3
0.063
and
142.7
330.8
188.1
0.026
0.77
1013
74.4
0.031
11-NICN-07
600193
5575537
565
9.8
43.3
33.5
0.026
0.42
613
9.6
0.003
and
73.8
101.2
27.4
0.009
0.43
848
7.5
0.003
and
119.5
147
27.4
0.024
0.80
1396
11.9
0.006
11-NICN-08
600026
5575300
397
3.7
90.2
86.6
0.007
0.71
279
107.0
0.048
and
148.5
160.7
12.2
<0.005
1.25
513
4.0
0.003
and
179
200.3
21.3
0.010
0.71
220
61.5
0.022
11-NICN-09
600037
5575469
427
7.6
70.1
62.5
0.024
0.67
617
26.0
0.007
and
118.3
148.8
30.5
0.009
0.35
286
69.3
0.030
and
187
230.5
43.4
0.006
0.36
314
124.9
0.043
Chief Executive Officer
Comment on "Compliance Energy Reports NIC Project Exploration Results"
