Press release, another to follow on drill results!
PRESS RELEASE
ME Symbol: "CDR" FOR IMMEDIATE RELEASE
Cusip: 12878D 105 September 29, 1997
South Perth, Western Australia
The directors are pleased to announce that the drilling program commenced at
Abminga on August 19, 1997, and is progressing well ahead of schedule. As
at the end of September a total of 4,456 meters of reverse circulation
drilling had been completed and field crews began their scheduled leave.
Testing of four targets on Exploration Licence E1936 confirmed kimberlitic
tuffs extending to the limit of drilling at 280 to 300 metres depth. At
varying depths all holes entered a water-saturated sandy tuff layer below
which reverse circulation drilling was unable to deliver a sample.
Approximately 40 tonnes of samples were selected for transport and observing
in Perth. Detailed mineralogical and petrological work is now progressing.
Preliminary work has confirmed a fine to medium grained kimberlite rock and
a carbonate-rich vein in several drill holes with characteristics consistent
with diatreme facies lithologies.
Consideration is now being given to a range of possible drilling methods
that would allow penetration and good sample recovery below the
water-saturated sandy tuff to the projected target depth of 500 metres.
Contractors with suitable drilling equipment have been invited to submit
proposals for this phase of the program.
Caldera is engaged in diamond exploration in the Abminga region of northern
South Australia. Caldera is the major tenement holder in the region and is
exploring a potentially world class kimberlite/lamproite field.
For further information please contact:
Chris Reindler, President
Telephone: 011-6189-367-7728 Facsimile: 011-6189-367-7705
John Daniels, Chairman
Telephone: 011-6189-364-4645 Facsimile: 011-6189-367-7705
Maria Bruzzese, Northern Securities Inc.
Telephone: 416-350-2044 ext. 232 Facsimile: 416-350-2114
Jason Shepherd
Telephone: 250-717-1910 Facsimile: 250-717-1909
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS
APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
Jason Shepherd
President,
Phoenix Communications Inc;
Corporate Development,
Caldera Resources Inc. CDR.M;
Corporate Development,
Waverider Wireless Communications Inc (WAVC) OTC.BB |
