CBR Gold Corp. Initiates Drilling of New Targets at Jaurdi Hills Gold Project
Tue Oct 20, 9:00 AM
ca.news.finance.yahoo.com
EDMONTON, ALBERTA--(Marketwire - Oct. 20, 2009) - CBR Gold Corp. (TSX VENTURE: CBG.V)(FRANKFURT:C3M) ("CBG") is pleased to announce the commencement of the 2009 surface geochemistry and drill exploration program designed to test high priority targets at its wholly owned Jaurdi Hills Gold Project in Western Australia. The company has also successfully staked an additional eight contiguous prospecting licenses covering extensions of key mineralized trends. The Jaurdi Hills tenements now comprise approximately 9,300 hectares, located 40 km northwest of the town of Coolgardie, within the Kunanuling District of the Coolgardie Mineral Field.
This phase of exploration and drilling will comprise 2,000 metres of Reverse Circulation (RC) drilling in 12 holes at recently delineated targets. Further soil sampling will also continue along untested prospective magnetic, electromagnetic and geochemical trends.
"Combining traditional surface prospecting methods with leading edge geochemical and geophysical techniques, we developed an advanced targeting methodology that has led to identification of new drill targets in an old gold district. We believe that our systematic and innovative approach will allow us to unlock the true value of the Jaurdi Project," stated John Williamson, President and CEO of CBR Gold Corp.
Drill Targets include:
- Wealth of Nations: Follow-up of 2008 drilling which recorded intercepts of 7.81g/t Au over 4m in RC drill hole 08WNP001. The Wealth of Nations target is a 2km long trend of gold in soil, and rock sampling with coincident magnetic anomaly along trend of past producing Wealth of Nations mine.
- Derrys Own: Over 1.5 km long conductive trend overlain by anomalous gold in soil and rock samples with results of up to 19.36g/t Au.
- New Gatleys: A 500 m long, linear trend of anomalous gold in soil which includes a peak soil value of 1100 ppb, indentified in recent sampling.
- Derrys Own West: A bulls-eye shaped, circular conductor with associated anomalous gold in soil results.
- Panther North: A linear gold in soil anomalies occurring coincidentally with a linear magnetic high which potentially reflects the contact between high magnesium and tholeiitic basalt flows.
The Jaurdi Hills Project lies within the prolific gold producing Norseman-Wiluna greenstone belt of Western Australia's Yilgarn Craton, which hosts numerous world class gold deposits including the famous Golden Mile. The Project encompasses two highly prospective structural corridors in excess of 10km in length where mining has extracted over 23,000 ounces of gold.
CBR Gold Corp. has been exploring Jaurdi Hills since 2005. Work has included the collection of over 500 rock samples, over 10,000 soil samples, 446 line km of airborne electromagnetic and magnetic surveying, four lines of follow up ground electromagnetic surveys and RC drilling. CBG has collated and reviewed base geological, geochemical and geophysical datasets and has generated a new, innovative model for gold mineralization within the Jaurdi Hills area. Fundamental to this new model has been the recognition of both lithochemical and structural controls to gold mineralization. Gold mineralization at the Jaurdi Hills Project appears to be intrinsically related to contacts of key mafic stratigraphic units and in close proximity to intersecting northeast trending structural zones. CBG plans to test these trends with the 2009 drilling.
CBR GOLD CORP. is a global exploration and development company creating opportunity through project acceleration. We deliver value through innovative thinking to identify and acquire underappreciated projects worldwide. Our experience in the capital markets and technical expertise allow us to develop early and advanced stage projects to the point of joint venture or production. Our strategy is to partner with best in class companies to reduce our risk while maximizing the potential for success.
The diverse CBR Gold Corp. portfolio currently includes two advanced stage projects, Niblack (Alaska) and Committee Bay (Nunavut), multiple generative projects, marketable securities holdings and drilling companies in Australia and Canada.
For further information on the Jaurdi Hills Project please refer to CBR Gold Corp. press releases dated July 27, 2009 and September 10, 2008.
The Company maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Peter Kleespies, M.Sc., P. Geol. who is the Qualified Person as defined by NI 43-101. A detailed description of CBR Gold Corp.'s QA/QC program is provided on the Company's website at www.cbrgoldcorp.com.
CBR Gold Corp. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.
On behalf of the Board
CBR Gold Corp.
John Williamson, P.Geol., President, CEO & Director
Certain disclosures in this release, including management's assessment of CBR Gold Corp.'s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to CBR Gold Corp.'s operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. CBR Gold Corp. expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
"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
Derek Iwanaka
CBR Gold Corp.
Manager, Investor Relations
604-646-4527 or Toll Free: 1-888-331-2269
604-646-4526 (FAX)
dereki@cbrgold.com
www.cbrgold.com |
