Alder News 8/2 Drill results
https://waggle.ca/companies/financial_services/aberdeen_international_inc/b/weblog/archive/2012/02/08/alder-announces-initial-reverse-circulation-drill-results-from-rosita-copper-gold-silver-porphyry-skarn-project-nicaragua.aspx
TORONTO, ONTARIO--(Marketwire - Feb. 8, 2012) - Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to announce it has received assay results for 25 vertical reverse circulation ("RC") drill holes at its Rosita copper-gold-silver project in northeastern Nicaragua. One hole, 2011-705, was drilled in bedrock immediately south of the Santa Rita pit and intersected 12.0 metres grading 0.91% copper ("Cu"), 1.00 g/t gold ("Au") and 16.63 g/t silver ("Ag"). The hole was terminated at a vertical depth of 114.4 metres due to mechanical difficulties before reaching the target horizon at 180 metres vertical depth. The other 24 holes were drilled in the north and south dumps. Of these, hole 2011-709 included up to 25.5 metres grading 1.27% Cu, 0.35 g/t Au and 22.3 g/t Ag. The weighted average grades for the mineralized dump holes are 0.71% Cu, 0.66 g/t Au and 8.2 g/t Ag (1.26% copper equivalent ("CuEq")) over an average thickness of 14.0 metres. Results are summarized below and illustrated in the drill plan at the end of this news release.
-------------------------------------------------------------------------- From Thickness Au Ag CuEq(1)Hole ID Location (m) To (m) (m) Cu (%) (g/t) (g/t) (%)--------------------------------------------------------------------------2011-705(2) Bedrock 39.0 51.0 12.0 0.91 1.00 16.6 1.79--------------------------------------------------------------------------2011-701 North Dump 0 10.5 10.5 0.54 3.69 5.2 3.07--------------------------------------------------------------------------2011-702 North Dump 0 10.5 10.5 0.47 1.24 8.7 1.41--------------------------------------------------------------------------2011-703 North Dump 0 24.0 24.0 0.39 0.31 5.5 0.67--------------------------------------------------------------------------2011-704 North Dump 0 21.0 21.0 1.14 0.92 10.6 1.89--------------------------------------------------------------------------2011-706 North Dump 0 12.0 12.0 0.29 0.10 5.7 0.43--------------------------------------------------------------------------2011-707 North Dump 0 22.5 22.5 0.85 1.10 8.5 1.69--------------------------------------------------------------------------2011-708 North Dump 0 24.0 24.0 0.81 0.40 9.8 1.20--------------------------------------------------------------------------2011-709 North Dump 0 25.5 25.5 1.27 0.35 22.3 1.78--------------------------------------------------------------------------2011-710 North Dump 0 4.5 4.5 2.21 0.14 15.3 2.50--------------------------------------------------------------------------2011-711 North Dump 0 19.5 19.5 1.25 0.47 11.8 1.71--------------------------------------------------------------------------2011-712 South Dump 0 12.0 12.0 0.31 0.69 4.8 0.83--------------------------------------------------------------------------2011-713 South Dump 0 6.0 6.0 0.10 0.24 1.1 0.27--------------------------------------------------------------------------2011-714 South Dump 0 7.5 7.5 0.07 0.21 0.8 0.22--------------------------------------------------------------------------2011-715 South Dump 3.0 10.5 7.5 0.06 0.29 0.7 0.26--------------------------------------------------------------------------2011-716 South Dump No significant intercepts--------------------------------------------------------------------------2011-717 South Dump 0 21.0 21.0 0.60 0.57 9.4 1.10--------------------------------------------------------------------------2011-718 South Dump 0 19.5 19.5 0.53 0.28 6.0 0.79--------------------------------------------------------------------------2011-719 South Dump 9.0 12.0 3.0 0.02 0.10 0.5 0.09--------------------------------------------------------------------------2011-720 North Dump 3 13.5 10.5 0.54 0.51 5.1 0.94--------------------------------------------------------------------------2011-721 South Dump 0 7.5 7.5 0.56 0.49 6.2 0.97--------------------------------------------------------------------------2011-722 South Dump No significant intercepts--------------------------------------------------------------------------2011-723 South Dump No Significant intercepts--------------------------------------------------------------------------2011-724 South Dump No significant intercepts--------------------------------------------------------------------------2011-725 South Dump No significant intercepts--------------------------------------------------------------------------(1) %CuEq = %Cu + ((Au grade X Au $/oz) + (Ag grade X Ag $/oz))/(Cu $/lb X22.0462 X 31.0135); Cu = $3.50/lb, Au = $1600/oz, Ag = $30/oz(2) True width is estimated to be 70% of drilled intercept
Vertical RC hole 2011-705 was collared in bedrock south of the Santa Rita pit, and was designed to test for extensions of the main Santa Rita deposit at a vertical depth of 180 metres. The hole was abandoned short of its target depth due to mechanical difficulties. Results from this hole are highly encouraging and indicate the presence of an upper mineralized horizon, and also confirm the presence of significant gold and silver values with the copper. All of the mineralization intersected in the drill hole is hosted in garnet-epidote-quartz-sulfide skarn.
To date 55 RC holes have been drilled through the dumps, with results pending for 31 of the holes. Drilling to date indicates the thickness of mineralized material ranges from 4.5 metres to 25.5 metres and averages 14.0 metres.
The holes were drilled in 6 dump areas, including the North dump (400m by 200m), South dump (400m by 200m), SW dump (500m by 200m), East dump (500m by 100m), NE dump (225m by 150m) and R-13 dump (250m by 125m). In all, the dumps cover an area of approximately 52 hectares. Results in this press release are for the North and South dumps only. Additional results will be presented for the other areas after assays have been received and evaluated.
In addition to the RC holes, a series of 17 vertical channel samples were collected from the apron of the dumps, as disclosed in a press release issued by Alder on December 14, 2011. The average grades of the vertical channel sampling was 0.55% Cu, 0.47 g/t Au and 8.73 g/t Ag (0.97% CuEq).
Joseph Arengi, President and Chief Executive Officer of Alder, stated: "These initial results are highly encouraging. The bedrock hole confirms the presence of significant in situ gold and silver values with copper mineralization as well as the presence of multiple mineralized horizons. The holes that tested the dump material are higher grade than the vertical channel samples and also show there is considerable gold and silver content. When the results are available for the remaining 31 RC holes we expect to be able to estimate a mineral resource for the dumps."