Commander Resources finds Malrok high-grade gold zone
Commander Resources Ltd (2) CMD
Shares issued 17,748,831 Aug 26 close $0.28
Wed 27 Aug 2003 News Release
Mr. William Coulter reports
COMMANDER RESOURCES LTD.: HIGH GRADE GOLD ZONE DISCOVERED ON BAFFIN ISLAND A total of 27 priority assays from the Malrok gold prospect, Qimmiq project, Baffin Island, have shown very high gold values. Coarse free gold was observed in several chip and channel samples. The visible gold is located in scattered outcrops several hundred metres to the northwest of a BHP Billiton 2001 sample which ran 45 grams per tonne gold. Of 27 priority sample results received from the laboratory, seven exceeded 10 grams per tonne gold including two which ran 120 and 239 grams per tonne gold (3.45 and 6.87 ounce per ton gold). A further 10 samples exceeded one grams per tonne gold. Sampling of exposed bedrock consists of chip sampling and diamond saw cut samples where smooth bedrock is exposed. Individual channel samples are generally taken over 30- to 100-centimetre (12- to
40-inch) intervals across the strike direction of the mineralized zones. All sample details have not yet been received from the field. However, at this time, two saw channel sample intervals can be reported. A 1.7-metre interval assayed 15.2 grams per tonne gold and a nearby channel assayed 239.3 grams per tonne gold over 0.30 metre. Saw channel samples are generally three to four centimetres wide and two to three centimetres deep, which is roughly equivalent to standard drill core-sized samples. A further 200 samples are at the laboratory for processing. Assaying has been carried out by Eastern Analytical Laboratory of Springdale, Nfld., using standard fire assay procedures on one-assay-ton pulverized samples. Due to the presence of visible gold, all 27 samples are being check assayed by the metallic sieving method; all samples exceeding one grams per tonne gold will be check assayed by another laboratory. The gold appears to be contained in iron formation consisting of magnetite, pyrrhotite, silica, amphibole, garnet and minor arsenic. Small quartz veins appear to fill tension gashes at the base of the iron formation. The assays reported to date are derived from the upper of two iron formations which have been traced for over 1,000 metres of strike length in the western portion of the Malrok prospect. The iron formations vary in thickness from 0.5 metre to five metres and are separated by five to eight metres of barren metasediments. A shallow lake covers 150 metres of the mineralized trend. An experienced prospecting crew, supervised by project geologist Lamont Leatherman, who worked in the area with BHP Billiton during 2001 and 2002,
is conducting detailed geological mapping, gridding and geophysical
surveying in preparation for an expanded program and drilling next year. The Malrok gold prospect is located on the Nunavut Tunngavik Inc.-owned lands which have been permitted by BHP Billiton Diamonds Inc. Commander Resources can earn 100-per-cent interest in all gold resources, subject to a production royalty to both BHP Billiton and the NTI landholders (Commander Resources press release in Stockwatch dated June 23, 2003). Bernard Kahlert, PEng, vice-president, exploration, of Commander Resources is supervising all aspects of the exploration program.
(c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com
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