SOUTH PERTH, W. AUSTRALIA--
Canada Australia
200 Bay Street 1 Charles Street, Suite 8
Suite 2220, P.O. Box 123 South Perth, Western Australia
Toronto, Ontario, M5J 2J3 Telephone :011-6189-367-7728
Telephone:416-350-2044 ext 232 Facsimile: 011-6189-367-7705
Facsimile:416-350-2114
Website:www.stockgroup.com/cdr.html
ME Symbol: "CDR"
Cusip: 12878D 105
The Company wishes to advise that the due diligence investigation being
carried out by Astro Mining N.L., which commenced in February, is now well
advanced. Astro personnel have conducted field investigations in the Abminga
Diamond Project area to familiarize themselves with the geology and
logistical aspects of operating in the region. The principal sites of
interest where Caldera has drilled previously were visited by helicopter.
The aeromagnetic data from all previous surveys, including the original
Government regional survey, have been reprocessed and all data are now
presented on a standardized grid to remove slight discrepancies in the data
between the various previous surveys.
The resulting presentations have provided a much clearer definition of the
magnetic anomalies and this has allowed more reliable modelling of anomalies
for target definition. A number of targets have been confirmed as having
possible significant depth extent and these are favoured as possible drill
targets.
Final selection of drilling targets will be completed before the end of April
and drilling is scheduled to commence in mid-May. A drilling contract has
been finalized and Astro anticipates drilling about 1,000 metres in 3 or 4
holes of HQ and NQ core.
Processing of selected samples from the Company's 1997 drilling program has
commenced. Initial processing has failed to report any microdiamonds.
The Company also wishes to announce that it has purchased a 100% interest in
exploration licence E 2130 from its joint venture partner, Laura Investments
Pty. Ltd., subject to regulatory approval. The licence is located south of a
significant group of targets of exploration licence E 1890 and the purchase
is regarded as an important strategic acquisition. The consideration for the
acquisition is the payment of $10,000 and the issuance of 200,000 common
shares.
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. As previously
announced, Caldera has reached an agreement with Astro Mining N.L., an
Australian Stock Exchange listed diamond exploration company, for that
company to conduct a due diligence assessment whereby at the completion of
that assessment Astro can elect to farm in to Caldera's interests in the
Abminga Diamond Project.
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
Jason Shepherd, Investor Relations
Telephone: 250-717-1910 Facsimile: 250-717-1909 /
E-Mail Address: jman@direct.ca
Maria Bruzzese
Telephone: 416-350-2044 ext. 232 Facsimile: 416-350-2114 /
E-Mail Address: mb@northernsi.ca
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS
APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. |
