Alder Resources Ltd.: Canadian Creek Project, Yukon Gold Geochemical Anomalies Outlined Along 4 km Trend
11 September 2009 - 2:19AM
Marketwired
Alder Resources Ltd. (TSX VENTURE: ALR) and Cariboo Rose Resources
Ltd. (TSX VENTURE: CRB) are pleased to report on ongoing
exploration on the Canadian Creek Project in the Whitehorse Mining
District of the Yukon Territory 160 km south of Dawson City. The
property is also 50 km southeast of Underworld Resources Inc.'s
White Gold project and approximately 25 km southeast of Kaminak
Gold Corp.'s Coffee property.
A soil sampling grid has been cut and sampled, and the
analytical results indicate a series of gold and arsenic anomalies
across the entire 4.0 km width of the grid. The anomalies are
defined by 20 ppb contours and individual anomalies are up to 1.5
km in length. At a 50 ppb gold threshold the largest anomaly is 1.2
km long and 300 m wide. The anomalies show strong linear trends
from east-west to northeasterly. Previous sampling of float in one
of these anomalies returned 6.6 g/t gold and 51 g/t silver from a
piece of quartz-arsenopyrite vein. An Induced Polarization (IP)
geophysical survey was also completed over the grid and outlined
several anomalies that show the same general trend as the soil
anomalies.
A separate gold geochemical anomaly, 3.0 km southeast of the
gold-arsenic anomaly and adjacent the Casino Deposit presently
being explored by Western Copper Corporation, was defined during
previous exploration on the property and received some follow-up.
An old trench (9076C) in the middle of this large anomaly was
reported to have returned 1.69 g/t gold across 10 m. The trench was
re-sampled with 5m chip/panel samples and returned 45 m of 0.33 g/t
gold with an interval of 10 m grading 0.93 g/t in the centre of the
trench. A diamond drill hole completed in 1993 located within this
same anomaly is reported to have intersected 150 metres grading
0.49 g/t gold, including 44 metres grading 0.71 g/t.
Alder has contracted Kluane Drilling, based in Whitehorse, to
undertake a drilling program on the property. Kluane is presently
drilling for Western Copper on the adjacent Casino Deposit and this
provides a tremendous logistical and cost advantage to the
project.
Alder can earn a 60% interest in the Property by completing a
schedule of cash payments (totalling $250,000) to Cariboo Rose,
issuing a total of 250,000 shares in its capital to Cariboo Rose,
and fulfilling designated exploration expenditures on the property
totalling $2,500,000, within specified times, all to be completed
by June 18, 2013.
G.L. Garratt, P.Geo., who is a qualified person within the
context of National Instrument 43-101, has read and takes
responsibility for this news release. Bob Johnston, P. Geol., also
a qualified person within the context of National Instrument
43-101, is supervising the project work in the field. Analysis was
performed by Acme Analytical Laboratories, a certified facility in
Vancouver, BC, using multi-element (ICP-MS) Aqua Regia Digestion
(1D) procedures, with gold and silver values determined using fire
assay procedures.
Neither the 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: Alder Resources Ltd. Bruce Ford President (416) 300
8023
(TSXV:ALR)
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