Caldera Resources (TSXV:CDR), today announced new results from its drilling program on the Clastic Unit, at its Marjan Polymetallic Gold and Silver Project (“Marjan Project”) in Armenia.
As quoted in the press release:
- In Caldera’s press release of October 25, 2010, it was announced that it had identified a potential new target for gold exploration, the Clastic Unit. The Clastic Unit is a conglomeratic volcanogenic-sedimentary unit that unconformably overlaps the quartz-monzonite intrusive and it is located between the Marjan Northern and Central quartz veins zones.
- The conglomerate facies appears to grade laterally into well-sorted coarse sandstone with primary bedding evident. The Clastic Unit appears to be locally silicified and pyritized. The Clastic Unit is approximately 5.5 sq. km.
Bill Mavridis, President and CEO of Caldera, stated:
“I am very excited about the initial drill results of the Clastic Unit and the confirmation of a new gold target zone at our Marjan Project, in Armenia.” said Bill Mavridis, President and CEO of Caldera. “I am equally excited that the quartz veins of the Central Zone appear to be a continuation of the quartz veins in the Northern Zone making the quartz veins approximately 4 km in strike. This is a very powerful system. While the focus of Caldera will continue to be the exploration and development of the quartz, the new developments at the Clastic Unit have created an opportunity to explore the potential of developing an open pit target that can be used to propel the development of the entire Marjan ore field, and significantly expand the historic Soviet-era gold and silver resources.”