Press release from Marketwire
Alder Discovers Bonanza Grade Gold Zone Including 8 Metres at 29.54 G/T Gold at Rosita Project, Nicaragua
Wednesday, September 05, 2012
Alder Discovers Bonanza Grade Gold Zone Including 8 Metres at 29.54 G/T Gold at Rosita Project, Nicaragua07:45 EDT Wednesday, September 05, 2012TORONTO, ONTARIO--(Marketwire - Sept. 5, 2012) -Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to present assay results for core hole D914 completed in the Rosita D Concession, in northeast Nicaragua. Located along the western side of the Santa Rita pit (see figure 1), the drill hole intersected 8 metres grading 29.54 grams per tonne ("g/t") gold ("Au") from 240 metres. The intercept includes a 2 metre interval from 241 metres, averaging 110.68 g/t Au, which is comprised of two, 1-metre segments assaying 139.29 g/t Au and 82.07 g/t Au, respectively. If cut to 30 g/t Au, the 8-metre interval grades 9.38 g/t Au. This high grade intercept occurs in garnetite skarn and skarn breccia, containing a stockwork of calcite+quartz+sulphide veinlets with visible gold noted locally in the drill core. The hole was drilled obliquely to the interpreted northwest trend and the true width of this intercept is unknown. Further drilling is required to delineate the geometry of this zone.These results demonstrate the presence of bonanza grade gold values along a northwest-trending gold-bearing corridor. This mineralization is primarily gold with lesser amounts of silver and is distinct from the copper-gold-silver mineralization associated with skarn and diorite host rocks. Hole D914 is located 250 metres northwest of previously released hole D910, which intersected 65 metres of skarn mineralization grading 1.48 g/t Au from 50 metres, including 8.0 metres grading 6.90 g/t Au and 4.0 metres grading 3.22 g/t Au (see Alder press release, May 31, 2012). Hole D912, drilled below D910, returned two intercepts of 2.0 metres grading 1.45 g/t Au and 4.0 metres grading 1.76 g/t Au that correlate with the two higher grade intercepts in D910. Based on results to date, Alder management believes there is reasonable potential to define a high grade, northwest-trending gold zone in the same area that has historically produced skarn and porphyry-style copper-gold-silver mineralization and in the same area that Alder is working to define a skarn and porphyry-style copper-gold-silver resource.High grade gold mineralization was also intersected in north-directed angle hole D911, located on the southwest side of the R-13 pit and 650 metres to the northeast of holes D910 and D912. There, a 6 metre interval from 173 metres intersected 1.86 g/t Au and a 1-metre interval from 290 metres returned 30.37 g/t Au, within a broader 3 metre zone from 289 metres assaying 0.80% copper ("Cu"), 10.45 g/t Au, and 21.83 g/t silver ("Ag"). The orientation of this high grade structure remains unclear, however, its location within a northwest-striking zone of mineralization identified in the 1970s (referred to as the R-13 West deposit), indicates that northwest-trending structures may have a greater influence in localizing precious metals than previously recognized. High grade gold values have been intersected in three of the fourteen core holes reported to date (D910, D911, and D914). A total of 18 core holes have been completed in the Phase One drill campaign at Santa Rita. Alder plans to drill additional holes along the interpreted northwest-trending gold-bearing structural corridors flanking the Santa Rita pit, and also plans to test several prominent IP geophysical anomalies generated by a recently completed 79 line-kilometre survey. The goal is to define both a gold-only and a gold-copper-silver bedrock resource that could compliment the current Inferred stockpile mineral resource of 7.95 million tonnes grading 0.62% Cu, 0.46 g/t Au and 9.20 g/t Ag (see Alder press release, May 9, 2012). Results for additional core holes are pending, including the first two at the Bambana prospect, located 4 kilometres northwest of Santa Rita. Results for this and select other drill holes completed at Santa Rita are summarized in Table 1 and illustrated in Figure 1.Table 1. Summary of diamond drill hole intercepts at Santa Rita/R-13 area.Hole IDAreaFrom (m)To (m)Core Length (m)Cu (%)Au (g/t)Ag (g/t)D911R-13173.0179.06.00.051.863.15and289.0292.03.00.8010.45 uncut21.8310.33 cutincluding290.0291.01.00.4830.37 uncut11.6030.00 cutD912Santa Rita156.0158.02.01.241.4512.25and197.0201.04.00.031.760.09D913Sta Ritalow grade valuesD914Sta Rita235.0250.015.00.0415.82 uncut0.235.62 cutincluding240.0248.08.00.0429.54 uncut0.299.38 cutincluding241.0243.02.00.04110.69 uncut0.6030.00 cutAu cut to 30.0 g/t; Ag cut to 50.0 g/t. True widths are not known at this time. Gold mining has been carried out in Nicaragua continuously since the 1930s and to date more than 8 million ounces have been produced. Most of this production is from northeast trending epithermal vein systems including the La Libertad, Limon and Bonanza mines. Gold mining at the past producing La Luz mine at Siuna, 45 kilometres southwest of Rosita, produced 2.3 million ounces gold from skarn before closing in 1968. The gold enriched system at Rosita is a new style of mineralization for Nicaragua and adds greatly to the economic potential of the Rosita area.Quality Assurance/Quality ControlAll drill holes were collared using HQ-size drill core, and reduced to NQ-size where necessary. Core was loaded on-site into wooden core boxes and transported on a daily basis by Company personnel to Alder's secure field office in Rosita, where geologists logged the holes, and selected intervals for assay. Individual samples of drill core were sawed, using a 10" diamond blade trim saw. Half of the sample was retained in the core box, the rest loaded into a pre-numbered, heavy gauge plastic bag, sealed and then trucked on a weekly basis (by the lab or by Company personnel) to Inspectorate Exploration and Mining Services' preparation laboratory in Managua. There, pulps were prepared for shipping to Inspectorate's Analytical laboratory in Vancouver, where each sample was analyzed via fire assay for gold and for copper, silver and 28 other elements using ICP (inductively coupled plasma-atomic emission spectrometry) methods. Alder has implemented an industry standard Quality Assurance/Quality Control program that includes the insertion of certified standards and blanks into the sample stream. Qualified PersonJohn C. Spurney, Certified Professional Geologist (CPG-11007), Vice President Exploration for Alder and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release.About Alder Resources Ltd.Alder is a resource company focused on the development of gold and base metal projects throughout the Americas. Alder's current high priority target is the Rosita project in Nicaragua located 275 kilometres northeast of Managua. Also, the Company has an active reconnaissance program in the country, selectively evaluating areas of interest.Alder entered into an option agreement to acquire a 65% interest in the Rosita D concession from Calibre Mining Corp. (see Alder press release, August 22, 2011) by issuing 1,000,000 shares and incurring expenditures of $4,000,000 over four years, of which $500,000 must be spent by October 2012. Alder has completed this $500,000 expenditure commitment.Alder intends to continue to build its property position with strategic acquisitions. Alder Resources Ltd. Joseph Arengi, President & CEO Cautionary Note Regarding Forward-looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding potential mineralization, exploration results and future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Alder to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operations in foreign jurisdictions; ability to successfully integrate the purchased properties; and other risks inherent in the mining industry. Although Alder has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Alder does not undertake to update any forward-looking information, except in accordance with applicable securities laws.To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/ALR94Figure1.pdf FOR FURTHER INFORMATION PLEASE CONTACT: Joseph ArengiAlder Resources Ltd.President & CEO416email@example.comNEITHER 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.