CALDERA RESOURCES INC.
Canada
40 King St. West
Suite 4900
Toronto, Ontario, M5H 4A2
Telephone: 416-777 6772
Facsimile: 416-777 6828
Website: www.calderares.com
Australia
1 Charles Street
Suite 8
South Perth, Western Australia, 6151
Telephone: 011-618-9367-7728
Facsimile: 011-618-9367-7705
E-mail: calderares@bigpond.com
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PRESS RELEASE
FOR IMMEDIATE RELEASE
TSE Symbol "CDR"
Cusip: 1287D 105
Date: 19 November 2001
South Perth, Western Australia
Oodnadatta – Mt. Carulina Project – Potential for Olympic Dam-style mineralisation
A recent announcement by Minotaur Resources Ltd. on 14 th November 2001, has reported on highly promising drill results at its Prominent Hill Prospect in the Gawler Craton, South Australia. Minotaur, in alliance with BHP Billiton, reported an intersection of 107 m. grading 1.94% copper and 0.66 g/t gold. Minotaur have been targeting magnetic and coincident gravity anomalies in the Mt. Woods Inlier approximately 140 kilometres northwest from the Olympic Dam deposit.
Minotaur’s drill result demonstrates that a technical appraisal based on testing of magnetic and coincident gravity anomalies in favourable geological and structural settings is a valid and effective strategy to search for Olympic Dam-style mineralisation.
Caldera, through its wholly owned subsidiary, Laura Holdings Pty Ltd announced on 29 October 2001 an option agreement with Inco Limited on the 450 square kilometre Mt. Carulina Exploration Licence. The Mt. Carulina Project is located within the O’Driscoll G2 structural corridor which is also host to the world class Olympic Dam copper, gold, uranium deposit, as shown on the accompanying map.
The Mt Carulina Exploration Licence embraces a number of geophysical targets considered to have potential for Olympic Dam-style mineralisation. Of particular interest is a large magnetic anomaly with a concomitant gravity anomaly located approximately 20 kilometres due west of Oodnadatta. This anomaly is regarded as a classic Olympic Dam-style target and it is expected that drilling will commence on this anomaly in early 2002, following completion of native title clearances and approvals.
Caldera is engaged in diamond exploration in Australia through seven projects. Four projects are located in the Pilbara region of northeastern Western Australia, one project is located in the Eastern Goldfields area of Western Australia and two projects are located in South Australia. |
