Commander's Partner Receives Encouraging Hammerdown Report
04 Novembre 2011 - 7:00PM
Marketwired
Commander Resources Ltd. (TSX VENTURE:CMD) report that its partner
Maritime Resources Corp. (TSX VENTURE:MAE) has received a report
from CAE Mining Corp. (formerly Datamine) identifying a preliminary
estimate of gold mineralization that remains at their jointly held
formerly producing Hammerdown mine located near Springdale,
Newfoundland. As per Maritime's news release dated August 31, 2011,
Maritime engaged CAE to prepare an estimate of resources remaining
at the formerly producing Hammerdown mine utilizing historic drill
and mining records. Maritime is encouraged by the estimate that has
been received and has decided to proceed with producing a NI 43-101
compliant Technical Report.
As commissioned, CAE prepared a theoretical model of the
formerly producing Hammerdown mine incorporating 626 surface and
underground diamond drill holes totalling 60,560 metres of drilling
and containing 1,271 composite assays. A wireframe model was
constructed of the original veins using the drill data. Using
historic mine records, the mineralization contained in the mined
out stopes was removed from the conceptual mineralized deposit. A
theoretical block model was constructed of the remaining
mineralization and various grade-tonnage alternatives were
derived.
The range of potential mineralization remaining at Hammerdown is
estimated by CAE to range from 1,800,000 tonnes grading 8.3 g/t Au
at a possible 1.0 g/t Au cut off, to 675,000 tonnes grading 16.6
g/t Au using a possible 7.0 g/t Au cut off. This would result in a
possible mineralized deposit ranging from 360,000 to 480,000 ounces
of gold remaining at Hammerdown. The potential quantity and grade
is conceptual in nature and, in accordance with NI 43-101
guidelines, it is uncertain if further exploration will result in
the target being delineated as a mineral resource.
Eric Norton, President and CEO of Maritime, states: "This
information has been invaluable for Maritime's planning purposes
and is so encouraging that it is a logical decision to request a NI
43-101 Technical Report be prepared. With the underground workings
still in place we will continue to investigate possible scenarios
to recover the remaining gold."
The Green Bay gold property, including the Hammerdown and Orion
deposits, is held jointly by Maritime Resources (50%) and Commander
Resources (50%). Maritime is the Operator. The Hammerdown mine
operated from 2000 to 2004, while gold prices averaged $325/oz.
During its operation a total of 315,000 tonnes of ore were
extracted, at an average grade of 16.1 g/t Au, yielding a total of
157,000 ounces of gold.
Commander Resources would like to acknowledge the support of the
Government of Newfoundland and Labrador in the form of financial
assistance of the 2011 drilling campaign by the Junior Exploration
Assistance Program.
Bernard Kahlert, P.Eng. is the Qualified Person as defined by
National Instrument 43-101 and has reviewed and approved the
technical disclosure contained in this release.
On Behalf of the Board of Directors,
Eric W. Norton, President & CEO
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements
are subject to numerous risks and uncertainties, which are beyond
the control of the Company, including, but not limited to, risks
associated with mineral exploration and mining activities, the
impact of general economic conditions, industry conditions,
dependence upon regulatory approvals, and the uncertainty of
obtaining additional financing. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements.
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.
Contacts: Commander Resources Ltd. Cathy DiVito Investor
Relations Toll Free:
1-800-667-7866info@commanderresources.comwww.commanderresources.com
Grafico Azioni Commander Resources (TSXV:CMD)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni Commander Resources (TSXV:CMD)
Storico
Da Nov 2023 a Nov 2024