Caldera Resources' subsidiary receives permit to evaluate gold property in
Armenia
Symbol: tsx-v CDR
The Lichkvaz-Tey gold property has a Soviet-era GKZ mineral resource, categorized as C1 and C2, of 3.4 million tonnes grading on average 5.1 g/t Au, 33.2 g/t Ag and 0.41% Cu. This translates to approximately 575,000 oz of gold, 3.7 million oz of silver and 33.4 million pounds of copper.
All numbers are historical and there is no NI 43-101 compliant report prepared for this project. The data presented above was referenced from Mining-Metallurgical Institute of
The property was explored during the Soviet era resulting in 18 km of drives and tunnels on 8 underground levels, spaced 40m to 100m apart vertically and in numerous raises. The property is located 380 km south of
The project is being pursued jointly with BacTech Mining Corporation (TSX.V: BM). BacTech has the option to acquire a 40% interest in Caldera's subsidiary, Biomine LLC, in return for providing technical support and test work for the project.
Bill Mavridis, President of Caldera stated that "We are pleased that our strategy to develop projects in Southeastern
Caldera is assembling a geological team to retrieve samples from Lichkvaz-Tey deposit which will allow for the bioleach test work to begin. BacTech will undertake bioleach test work at the University of
About
There are currently several mining companies extracting copper, zinc, molybdenum and gold in
About BacTech
BacTech owns patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals as well as stabilizing harmful metals such as arsenic.
About Caldera
Caldera Resources Inc. is focusing on projects amenable to utilizing bioleaching or chloride leaching technology for the economic recovery of base metals and precious metals from mine waste and tailings with a focus on Southeastern
Qualified Person
André Laferrière, M.Sc. P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
Certain exploration results referred to herein are historical in nature and were compiled before NI 43-101. Caldera and has not independently analyzed the results of the previous exploration therefore the historical results should not be relied upon. Caldera and BacTech believe these historical results provide an indication of the potential of the properties and are relevant to ongoing evaluation of the project.
THIS NEWS RELEASE INCLUDES CERTAIN "FORWARD-LOOKING STATEMENTS". ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT, INCLUDED IN THIS RELEASE INCLUDING FUTURE PLANS AND OBJECTIVES OF CALDERA, ARE FORWARD- LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
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For further information: For further information: Bill Mavridis, Caldera Resources Inc., Direct Line: (514) 813-9200, www.calderaresources.com
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