MONTREAL, Feb. 1 /CNW Telbec/ - Caldera Resources Inc. (TSX-V: CDR) (Caldera or the "Company") is pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.
"We are pleased to announce that we have selected Renmark to reinforce Caldera Resources Inc.'s profile in the financial community and enhance the visibility of our project portfolio. We choose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public," noted Bill Mavridis, President and CEO of Caldera Resources Inc.
In consideration of the services to be provided, the Company has agreed to pay a monthly retainer of $7,000 for a one-year contract to Renmark Financial Communications Inc.
Renmark Financial Communications does not have any interest, directly or indirectly, in Caldera Resources Inc. or its securities, or any right or intent to acquire such an interest.
Caldera Resources is focused on advancing gold projects in the Republic of Armenia.
The company entered into a letter agreement with Global Gold Corporation to form a Joint Venture, whereby Caldera shall, subject to terms and conditions, earn a 55% interest in the Marjan Gold-Silver Project after completing a bankable feasibility study on the project or spending US$3.0M on the property.
The Company is also seeking to acquire and develop the Lichkvaz-Tey gold property, located in the Republic of Armenia. The project is currently owned by the Armenian government.
The Marjan Property
The Marjan property has a Soviet-era GKZ mineral resource, categorized as C1 and C2, of 3.84 million tonnes grading on average 2.68 g/t Au, 97.3 g/t Ag. This translates to approximately 330,000 oz of gold, 12 million oz of silver.
The Marjan Gold-Silver-Polymetallic deposit is located in Armenia, some 28 km south-west of the village of Sisian and a 6 hour drive from the capital, Yerevan. Global Gold, through its wholly owned subsidiary Global Gold Hankavan LLC, holds a twenty-five year "special mining license" for the Marjan property. The license was issued April 22, 2008 and expires April 22, 2033. The license area covers approximately 18.5km2.
Lichkvaz-Tey Gold Project
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 property is considered to be a refractory gold deposit and requires bioleaching technology to treat the ore to release the gold.
The Lichkvaz-Tey project is presently owned by the Armenian Government and is being pursued jointly by Caldera and BacTech Mining Corporation. BacTech 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.
Armenia sits in a geological formation know as the Tethyan Belt, which contains some of the world's largest gold porphyry deposits. The Tethyan Belt is a major porphyry-related mineralized zone that extends across central and South-eastern Europe, Turkey, Armenia, Iran, Pakistan, through the Himalayan region into Burma, Malaysia, Indonesia and Papua New Guinea.
There are currently several mining companies extracting copper, zinc, molybdenum and gold in Armenia, including Dundee Precious Metals which operates the Kappan polymetallic mine, extracting zinc, copper, silver and gold. On the exploration front, Lydian Resources is drilling a 1 million oz gold inferred resource at its Amulsar gold project.
Mr. Jim Steel, MBA 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.
All numbers are historical and there is no NI 43-101 compliant report prepared for these projects. According to the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), "C1" and "C2" classifications are equivalent to "measured" and "indicated" resources.
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.
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.
Additional information related to the Company is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
SOURCE CALDERA RESOURCES INC.
For further information: For further information: Caldera Resources Inc.: Bill Mavridis, President and CEO, (514) 813-9200, Fax: (514) 221-3469, firstname.lastname@example.org; Renmark Financial Communications Inc.: Barry Mire, email@example.com; John Boidman, firstname.lastname@example.org; (514) 939-3989, (416) 644-2020, www.renmarkfinancial.com