The Conversation (0)
Caldera Resources (TSXV:CDR) has received an Exploration License No. 106 from the Ministry of Energy and Natural Resources for the property located west of the Marjan Project.
As quoted in the press release:
- The License was issued to Caldera’s Armenian subsidiary Biomine LLC on October 14, 2011 and is valid till October 14, 2016. The new license area covers an area of 19 square kilometers and is not subject to the JV Agreement.
- Caldera’s review of the license area indicates that the Marjan West property has a prophyritic tonalite as well as kaolinitic alteration and copper mineralization. Caldera has 5 months to prepare an exploration plan and present it to the MENR.
- Update on Arbitration: After completion of Mr. Mavridis’ testimony it is expected to call Mr. Van Krikorian as a witness to the stand on October 31, 2011.
- The Clastic Unit: Caldera announced in its press release of October 4, 2011, the results from its drilling program on the Clastic Unit at the Marjan Project. Caldera confirmed intercept of 48 meters returning 0.95 g/t gold, with two separate 6 meter intervals grading 3.23 g/t gold and 2.99 g/t gold.
- The Marjan Project: The Northern Zone and the Central Zone were explored during the soviet-era and contain a total C1 and C2 soviet category historical resources of 405,147 oz of Gold and 14.2M oz of Silver and an additional 647,152 oz of Gold and 37.1M oz of Silver soviet category P1 historical resource. The Clastic Unit Zone was never explored during the soviet-era and has no reported historical resources.
Click here to access the Caldera Resources (TSXV:CDR) press release.
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