SYMBOL: TSX-V: CDR
MONTREAL, Oct. 20 /CNW Telbec/ - Caldera Resources Inc. (TSX.V: CDR) announced today that the Ministry of Mines and Energy of the Republic of Armenia, has issued an Order granting Caldera's subsidiary, Biomine LLC, permission to access the Lichkvaz-Tey gold project, to conduct its sampling campaign and due diligence review.
This order follows the permission received from the Minister of the Environment of Armenia, earlier this month; all with the goal to successfully introduce commercially proven bioleaching technology for the recovery of gold and copper to Armenia.
Bill Mavridis, President of Caldera stated: "We are pleased that we have received this support from the Armenian Government, and we look forward to completing our studies in a timely fashion. We are proud that we will be part of the mining renaissance in Armenia and look forward to making Caldera an environmentally responsible partner in Armenia's growing mining industry."
Caldera intends to complete the sampling program before year end and deliver a final report to the Ministry before a six month delay requested by them.
As mentioned in the October 6, 2009 news release, 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.
The Lichkvaz-Tey project is presently owned by the Armenian Government and is being pursued by Caldera. BacTech Mining Corporation (TSX.V: BM) is the owner of the patented BACOX Bioleaching Technology. 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.
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 South-eastern Europe and the Caucuses.
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 believes these historical results provide an indication of the potential of the properties and are relevant to ongoing evaluation of the project. Please review our October 6, 2009 press release for additional information.
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.
SOURCE CALDERA RESOURCES INC.
For further information: For further information: Bill Mavridis, Caldera Resources Inc., Direct Line: (514) 813-9200, www.calderaresources.com