Alder Resources Ltd.: Canadian Creek, Yukon; Gold Mineralization Discovered in New Targets
08 December 2009 - 7:26AM
Marketwired
Alder Resources Ltd. (TSX VENTURE: ALR) and Cariboo Rose Resources
Ltd. (TSX VENTURE: CRB) are pleased to report the results of the
drilling program on the Canadian Creek Property, located 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 adjacent to Western Copper
Corp.'s Casino Deposit.
Ten core drill holes totaling 1,425 m were completed along a
series of gold-arsenic+/-antimony-bismuth soil geochemical and IP
geophysical anomalies that cover an area of over four km in length.
The program was the first drill test of these anomalies and
confirmed the presence of auriferous quartz-carbonate veins and
clay altered structures hosted in gneisses and granodiorite and
monzonite intrusive rocks. All the drill holes returned anomalous
gold intercepts with the most significant intercepts listed in the
following table, all of which are from the eastern portion of the
2009 geochemical grid.
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From To (i)Interval Gold Silver
Hole ID (m) (m) (m) (g/t) (g/t)
---------------------------------------------------
CC09-05 63.87 71.24 7.37 0.16 -
---------------------------------------------------
including 64.90 65.24 0.34 0.53 13.5
---------------------------------------------------
CC09-06 5.00 20.00 15.00 0.33 -
---------------------------------------------------
CC09-08 77.80 79.30 1.50 3.50 3.5
---------------------------------------------------
CC09-10 82.80 90.05 7.25 0.68
---------------------------------------------------
including 82.80 85.80 3.00 1.10 30.4
---------------------------------------------------
((i) these are core lengths and may not reflect true
thickness)
Drill holes CC09-5 and 6 tested a small portion of a two km
long, open-ended gold soil geochemical anomaly. The gold
geochemical anomaly is open for 800 m northeast from drill hole
CC09-6. Near the eastern end of the grid a soil sample returned 2.2
g/t gold. Drill holes CC09-08 and 10 tested a separate anomaly to
the north that is 600m long and open to the east.
Drill holes CC09-1 to 4, 7 and 9 returned anomalous gold-arsenic
values across numerous intervals ranging from 2.0 m to 20 m with
values up to 0.2 g/t gold and 0.46% arsenic. The 2009 drill holes
were spaced from 300 m to 1.3 km apart. The broad dispersion of
anomalous gold across the drilling area and the wide spacing
between drill holes indicates that a large area of mineralization
has been identified that hosts potential for a significant gold
deposit.
Alder can earn a 60% interest in the Property by making a
schedule of cash payments totaling $250,000 and issuing 250,000
shares to Cariboo Rose and completing exploration expenditures on
the property totaling $2,500,000 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.
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. Donald Mosher Director (604)
685-6465 www.alderltd.ca
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