CNR Capital Corporation Ltd. Completes 2008 Field Program
11/17/2008 (BAYSTREET NEWSWIRE)
November 17, 2008 – Calgary, AB;
CNR Capital Corporation Ltd. (TSXV: PY)
(the “Company”) is pleased to announce that the Company has completed it’s 2008 exploration program on the 177 square kilometre, 100% owned, Terrace properties at Terrace, British Columbia. The Terrace exploration program for gold, silver and copper mineralization was operated from June to mid-October through the Company’s subsidiary Argonaut Resources Inc.
The Company conducted exploration activity on seven of the company’s 43 mineral showings. The Pass, M&K, Golconda, Frisco-Address, Swan, Zona May and Patmore-Fiddler showings were explored with geological mapping and geochemical sampling. In addition, diamond drilling, ground geophysical surveys and ground geophysics that included magnetometer, HLEM and Induced Polarization surveys, were completed at the Pass, M & K and Golconda showings. Thirteen diamond drill holes totaling 1156 metres were drilled. This includes five holes drilled at the Pass, two drill holes at the M&K and six drill holes at the Golconda. Thirty-five line kilometres of ground geophysics were surveyed at the diamond drilled showings which included magnetometer, HLEM and Induced Polarization surveys.
Visible sulphide mineralization was observed in all thirteen diamond drill holes. Soil, rock and core samples are presently being analyzed and the assay results will be released when finalized. The geophysical surveys are presently being formatted for presentation and will be released once available to the Company’s management.
The 2008 exploration program was serviced from the cities of Terrace and Smithers located in northwestern British Columbia. Terrace is a modern community of 20,000 residents and is a major transportation centre for highway, rail and air traffic throughout northwestern British Columbia. The Company’s properties are located within 20 kilometres of Terrace with good logistics.
CNR Capital Corporation has 16,744,575 shares issued and outstanding with an experienced focused management.
Kris Raffle, P. Geol. of APEX Geoscience Ltd. is the Company’s qualified person as defined by National Instrument 43-101 and is responsible for the preparation and approval of the technical information disclosed in the News Release.
On behalf of the Board of Directors,
Ray Cook
President and CEO
For further information please visit: www.argonautresources.ca or contact:
Ray Cook, BSc., MSc., Geology
President and CEO,
Tel: (403) 454-1302; email: ray@argoexp.com
Charles Chebry, BSc., CMA
CFO and Director
Tel: (403) 454-1297; email: charles@chebry.com
