Symbol: TSX-V: CDR
MONTREAL, July 7 /CNW Telbec/ - Caldera Resources Inc. announced today that it will hold its Annual General Meeting on August 30, 2010 at 9h00 am at its head office, located 1155 Blvd. René-Lévesque West, Suite 2500, Montreal, Québec H3B 2K4. The record date is be set for July 30, 2010.
At the meeting, Shareholders will be asked to approve the following resolutions:
The nomination of Mark Billings, Bill (Vasilios) Mavridis, Ross Orr, Steve Roebuck and Lorne Woods, to the Board of Directors of the Company;
The appointment of Bratt Fremeth Star as its auditors;
Approval of the Corporation's Employee Stock Option Plan.
Bill Mavridis, President and CEO Reports:
Our team landed in Yerevan, Armenia, on May 22, 2010 to organize the Company's corporate presence and to make the final arrangements to begin the summer work program on the Marjan Gold-Silver Project.
In the capital Yerevan, we had the opportunity to meet with Dr. Vahram Nercissyantz, Chief Economic Advisor to the President of Armenia and Dr. Areg Galstyan, First Deputy Minister of Energy and Mines of Armenia. At the local level, near the Marjan project, we met with Mr. Souren Khachatryan, the Governor of Syunik Province of Armenia, and Mr. Samvel Tangyan, the representative of the Governor of Syunik in the town of Sissian, Armenia.
While in Armenia we had the opportunity to take some pictures and record some video of discussions with the people we met and scenes around town. The photo and video gallery should be up shortly.
The welcome and support that we received at the ministerial and local level is an example of the hospitality and support other Canadian mining companies can expect. Armenia is definitely a mining friendly jurisdiction.
A special thanks goes out to Prof. Azat Vartanian, the President of the Armenia-Canada Chamber of Commerce (www.armcanchamber.com) and our Consultant in Armenia, for all his hard work and support in establishing our business in Armenia.
Our Vice-President, Mining and Development and Qualified Person for the Corporation, Mr. Jim Steel MBA P.Geo., visited the core shack in Melikgiugh, Armenia, to evaluate and sample drill core from the northern zone of the Marjan Gold-Silver project. He also visited the Marjan site to set up and supervise the Phase I sampling program on the Marjan Central and Marjan North zones.
At the Marjan Central zone, the Phase I program entails remapping and resampling of historical trenches, roadcuts, and outcrop. Samples are based not only on surface outcrop and trench vein exposures but also on areas of intense hydrothermal alteration and rock textures indicative of potential mineralization. Prospecting will be done to evaluate other intensely altered areas outside of the main Central zone mineralization.
At the Marjan North zone, we have commenced a detailed geochemical study of a conglomerate hosted gold target that outcrops to the south of the main vein system. Initial mapping has identified the presence of scattered zones of silicification and pyritization in a structural setting similar to other areas that have been found to contain anomalous gold mineralization.
Samples will be taken using a handheld diamond drill, which extracts a core some 2.5 cm in diameter over a depth of two to three meters, or deeper where geology and ground conditions permit. Samples are taken on a 25m square grid over the exposed conglomerate outcrop, which extends some 150m north-south and 250m east-west.
Sampling is also planned for the extension of the conglomerate target under glacial cover to the south; to the east, where scattered outcrops of conglomerate and undifferentiated sediments are seen over an additional 400m distance; and to the west to the contact of the conglomerate unit with the quartz monzonite intrusive host of the Marjan Northern zone of massive sulphide veins.
Once this is complete, sampling and mapping efforts will move to the surface expressions of the 25 different massive-sulphide veins identified in previous works on the northern zone. Massive-sulphide veins are hosted with diorite porphryry dikes intruding andesite volcanics. These sit in apparent conformable contact with the above-mentioned conglomerate unit.
Samples will be shipped to Activation Laboratories Inc. in Ancaster, Ontario, Canada for assay.
We anticipate that a review of the results will confirm potential drill targets, with Phase I drilling anticipated to start by mid-September 2010.
About Caldera Resources Inc.
The Corporation is engaged in advancing its gold project in the Republic of Armenia. Caldera holds a 55% interest in the Marjan Gold-Silver project with a clear path to acquire 100% of the project. The company is also completing its due diligence on the Lichkvaz-Tey Gold project, with its strategic partner Bactech Mining Inc., for potential acquisition later this year.
You can learn more about the Company's projects by watching recent interviews with the President of Caldera by visitng our website www.calderaresources.com.
Mr. Jim Steel, MBA, P.Geo., Vice-President, Mining and Development for the Company, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of NI 43-101.
Historical Soviet-era Resources at the Marjan Gold and Silver Project
The Central Zone of the Marjan Project was extensively explored between
1964 and 1989, and has Soviet-era GKZ standard resources as outlined below:
Zone only tonnes Gold Silver Gold oz Silver oz
------------------- --------- -------- --------- ------- ----------
C1 and C2 resources 4,772,757 2.64 g/t 92.67 g/t 405,147 14,211,588
P1 resources 3,211,843 2.35 g/t 93.42 g/t 242,696 9,647,922
The Northern Zone was explored between 1991 and 1992 by the Sissian Geological Exploration Group, and published by the State Committee for Reserves of Armenia, Yerevan, has historical Soviet-era GKZ standard resource, as follows:
Zone only tonnes Gold Silver Gold oz Silver oz
------------------- -------- -------- ---------- ------- ----------
P1 resources 5.77M 2.18 g/t 148.46 g/t 404,456 27,543,865
The total C1 and C2 historical resources of the Marjan project outlined above are equal to 405,147 oz of Gold and 14.2M oz of Silver. The total P1 historical resource of the Marjan project are equal to 647,152 oz of Gold and 37.1M oz of Silver.
The Marjan Gold-Silver Project was reviewed by Mr. Ricardo Valls, P.Geo., independent geologist for Caldera. The NI 43-101 Technical Report on the project was filed on SEDAR on June 17, 2010 and can also be viewed on our website at www.calderaresources.com .
The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Former Soviet country estimates are presented for historical reporting and to provide a basis for assessing Caldera's choices for its business activities. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources.
Additional information related to the Corporation is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE CALDERA RESOURCES INC.
For further information: For further information: Bill (Vasilios) Mavridis, President & CEO, Caldera Resources Inc., Cell: (514) 813-9200, firstname.lastname@example.org; Renmark Financial Communications Inc.: Barry Mire, (514) 939-3989, email@example.com; John Boidman, (514) 939-3989, firstname.lastname@example.org