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Tuesday, June 26, 2012
Commander Commences 2012 Field Program
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VANCOUVER, BC - Commander Resources Ltd. (CMD-TSX.V, "Commander") reports that it has commenced field work at several of its 100% owned gold and base metal properties. The focus for 2012 will be to advance projects in the Company's portfolio through ground work and geophysics to drill stage. The Company is well financed to complete the planned programs and does not anticipate the need for further financing in 2012.
This year's work programs will focus on the Sabin copper-gold project in Ontario, the Glenmorangie gold project in southeast Yukon, and the Omineca copper-gold project in northern British Columbia. Efforts are continuing to obtain a JV partner for the Baffin Island gold project in order to test drill targets that were defined during the 2011 field season. In New Brunswick, Stratabound Resources has started geophysical surveying on Commander's Nepisiguit property and plans to drill further on our Stewart copper zone.
The Sabin Copper-Gold Property is located in the Sturgeon Lake Greenstone belt of Archean metavolcanic and metasedimentary rocks in the Wabigoon Sub-Province of the Superior Province, 400 km northwest of Thunder Bay, Ontario. This year's program will be the first significant work done on the property since 1996. Previous work primarily focused on the search for base metals, but a recent review of the historical data identified significant gold potential. A geochemical survey is planned to extend information beyond previously discovered mineralization. The Mattabi mine, which is located 45km south of the Sabin property, was mined by Noranda and contained 12.8 Mt of ore grading 7.6% zinc, 0.91% copper, 0.84% lead, 97.3 g/t silver and 0.21 g/t gold. The previous Sabin property holder, Umex, delineated a 100,000 ton zone of mineralization grading 2.2% copper, as well as 1.18% zinc and 2.81 oz/t silver (87.4 g/t Ag). This is a historic estimate and is not to be relied upon, although it is indicative of the potential mineralization. Gold was reported in some of the drill holes, but was ignored because of the low gold price at that time. The property is accessible by road. The Company's geological team is on site and the geochemical survey has commenced.
The Glenmorangie Gold Property was acquired by Commander in May 2011, and is located in SE Yukon. The property is situated 35 km north of the 3Ace property, a recently discovered shear hosted gold system and 7km west of the North American Tungsten mine. In 2011 Commander carried out a $345,000 program which included mapping, prospecting, and soil, silt and rock chip geochemical sampling. A total of 205 rock samples, 1,396 soils and 52 silt samples were collected and assayed. Two discrete zones, the Camp Zone and the Hidden Valley Zone, were identified as being anomalous. This year's program is intended to in-fill the geochemical data within these zones, and to continue geological mapping of the area. Several drill programs have been announced for properties adjacent, and in close proximity, to Glenmorangie. Results from those programs may add to the geological understanding and the potential for gold mineralization of our property.
The Omineca Porphyry-Copper Gold Project is located in North Central B.C. within the prolific copper-gold producing Quesnel trough. Commander holds six properties in the area. The program for this year will consist of mapping and geochemical surveys, with the possibility of an airborne survey being added late in the season. The property is accessible by road, making exploration costs for this part of the province relatively low. The prospects fall within the southern part of the Abraham Creek complex, an elongated package of late Triassic and early Jurassic intrusions, with later stage Cretaceous intrusions (known to host Cu, Au mineralization). Mapping by the B.C. Geology Survey in 2004 highlighted this area as having many similarities to the Iron Mask complex around Kamloops B.C. hosting the Newgold Afton copper-gold mine and the Abacus / KGHM copper-gold Ajax pit.
The Baffin Island Gold Project in Nunavut, has yielded the discovery of numerous orogenic gold occurrences over 10 years in several geological environments permissive to hosting major gold deposits. The Company's property covers a 140 km long belt of Proterozoic aged metavolcanic and metasedimentary rock within the Fox Fold Belt. Approximately 18,000 m of drilling has been carried out over three prospective areas, known as Malrok, Ridge Lake and Kanosak, with appreciable gold intersections. The present focus is on the Kanosak prospect, a 3 km2 area that was the subject of a detailed 3D I.P. survey during 2011. This survey defined a 3 km linear zone of interest, co-incident with surface channel samples with values as high as 1,440 g/t gold (46 oz/t Au). The area is fully permitted and a camp is in place. Commander is continuing discussions with potential joint venture partners to carry out a drill program along the I.P. identified zone.
The Company will not incur further expenditures on the Stump Lake gold property in central BC, having reviewed this year's drill results and decided that it does not meet the Company's objectives.
Steve Potts, P. Geo, VP of Exploration is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this release.
COMMANDER RESOURCES LTD. is a diversified exploration company that employs project generation and leverage strategies to develop Canadian resources for either sale or joint venture. By employing this strategic approach Commander is able to systematically enhance shareholder value while managing the risk associated in exploration and development.
COMMANDER trades on the TSX Venture Exchange under the symbol "CMD". For additional information, please visit the Company's website at http://www.commanderresources.com.
On behalf of the Board of Directors,
Eric Norton
President & CEO
For further information, please call:Cathy DiVito, Investor Relations Toll Free: 1-800-667-7866 info@commanderresources.comor Jay J. Bedard, President Envoy Strategic Partners T: 416 977-7778 jay@envoystrategicpartners..comThe TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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