Commander Resources Ltd. (TSXV: CMD) (“Commander”) is pleased to announce that it completed an airborne VTEM survey on the Sabin zinc-copper-silver-gold volcanogenic massive sulphide (VMS) project (the “Sabin Zinc Property”) located in northwest Ontario, Canada, some ten kilometres north of the community of Savant Lake.
Commander Resources Ltd. (TSXV: CMD) (“Commander”) is pleased to announce that it completed an airborne VTEM survey on the Sabin zinc-copper-silver-gold volcanogenic massive sulphide (VMS) project (the “Sabin Zinc Property”) located in northwest Ontario, Canada, some ten kilometres north of the community of Savant Lake. The Sabin Zinc Property is in the Sturgeon Lake greenstone belt, host to significant polymetallic VMS deposits including the past-producing Sturgeon, Mattabi, Lyon and “F’ VMS mines. Mining ceased in the belt in 1991.
The airborne survey comprised 370 line-km of electromagnetic and magnetic surveying by Geotech Ltd. of Aurora, Ontario using its latest generation VTEM Plus system. Results are expected by year end. This is the first modern deep penetrating geophysical survey to be flown on the property.
The Sabin Zinc Property was first worked by Union de Miniere Exploration (UMEX) in the 1970’s. Initial work by UMEX led to the discovery of the Marchington Zone where shallow drilling on 15 m centres outlined a historical near surface resource from 15 m to 61 m depth.
|Marchington Zone Historic Resource (non-NI43-101 compliant)|
|123,000 tonnes||2.9% Zn||0.7% Cu||1.3 % Pb||56 g/t Ag|
The Marchington Zone resource was defined by UMEX (based on internal company documents dated June 19, 1980), is historic in nature, is the most recent resource estimate currently available and is not to be relied upon except to provide an indication of exploration potential on the property. It was calculated by exploration professionals working for a major company widely reputed as competent, utilizing methodology accepted and relied upon as standard industry practice at the time, but is not compliant with National Instrument 43-101 standards. The reader is cautioned that a qualified person has not done sufficient work to classify this historical estimate as current resources and Commander is not treating it as a current mineral resource.
In addition to the Marchington Zone horizon three additional partially drill tested zones have been identified including the Kash, South and S-23 zones. The core of the Sabin property is underlain by intermediate and felsic volcanic units that exhibit widespread alteration comprised of garnet, staurolite, sillimanite and sericite metamorphic mineralogy. Characteristics of the Sabin and Sturgeon Lake deposits include high zinc and silver values with low conductivity. Gold was not consistently analyzed but sporadic assays suggest elevated potential. The Company has recently compiled a large exploration dataset for the first time. The last major exploration program on the property was a limited 3 hole campaign by Noranda in 1995.
Commander (formerly Major General) acquired the property through a purchase agreement with UMEX in 1990 and holds a 100% interest in the property except for two small internal claim parcels that are subject to a participating interest with Glencore Canada Corporation (formerly Noranda) who currently hold 41.5% and 33.3%. UMEX retains a 2.5% NSR over the property that will be reduced to 1% following $225,000 of royalty payments.
Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.
About Commander Resources:
Commander Resources is a Canadian focused exploration company that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. Commander has a portfolio of base and precious metal projects across Canada and significant equity positions in Maritime Resources Corp. and Aston Bay Holdings. Commander also retains royalties from properties that have been partnered, optioned or sold.
On behalf of the Board of Directors
Robert Cameron, P. Geo.
President and CEO
For further information, please call:
Robert Cameron, President and CEO
Toll Free: 1-800-667-7866
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.