TORONTO, ONTARIO--(Marketwire - Feb. 14, 2013) - Alder Resources Ltd. ("Alder" or the "Company") (News - Market indicators) is pleased to provide results from a series of grab samples from two areas at the Tipispan porphyry copper-gold prospect within the Company's Rosita Project in northeast Nicaragua (Figure 1).
Results include the following:
- 4.46% copper ("Cu"), 10.84 grams per tonne ("g/t") gold ("Au") and 97.4 g/t silver ("Ag"),
- 3.99% Cu, 6.52 g/t Au, 114.1 g/t Ag, 1.53% lead ("Pb") and 2.59% zinc ("Zn") and,
- 4.18% Cu, 1.46 g/t Au, 34.5 g/t Ag, 11.15% Pb and 12.62% Zn.
All of the samples were collected from artisanal miner workings located within two areas that are 50 metres apart and 250 metres southwest of high grade trench results that included 7.48% Cu, 2.36 g/t Au and 316.13 g/t Ag over 6.5 metres and 5.21% Cu, 4.4 g/t Au and 144.01 g/t Ag over 12.1 metres previously reported in a news release dated January 9, 2013 (Figure 2). Complete results for the grab samples are provided in Table 1 at the end of this news release.
Company President and CEO, Joseph Arengi, states: "Our exploration team continues to locate well mineralized zones in the highly prospective Tipispan area and we are very encouraged by the results. We will continue our sampling and trenching program in this area in an effort to better understand the controls on mineralization. The location of these samples relative to the high grade trench results significantly expands the footprint of porphyry style mineralization at Tipispan."
The host rock for all of the mineralized samples is granite with local potassic alteration and stockwork veining. In places the granite is being replaced by sulfides, including chalcopyrite, bornite, sphalerite, galena, pyrite and chalcocite, and oxides that include malachite, chrysocolla and azurite.
The Tipispan prospect is located within the Bambana area which is four kilometres northwest of the past producing Santa Rita pit and one kilometre northeast of the T3 zone (Figure 1) where trenching has returned up to 3.32% Cu, 0.22 g/t Au and 37.55 g/t Ag over 12.0 metres and drilling has returned up to 1.74% Cu and 16.64 g/t Ag over 18.0 metres in an exotic copper-oxide zone.
Quality Assurance/Quality Control
The samples were collected from cleaned surfaces into heavy gauge plastic bags, sealed on-site, then stored at Alder's Rosita field office until transported by company or laboratory personnel to Inspectorate Exploration and Mining Services' sample preparation facility in Managua. In Managua, pulps were prepared for shipping to Inspectorate's Analytical laboratory in Reno, Nevada, where each sample was analyzed via 1 assay-tonne fire assay for gold and 30 element ICP (Inductively Coupled Plasma-atomic emission spectrometry) methods for copper, silver and 28 other elements. Alder has implemented an industry standard Quality Assurance/Quality Control program that includes the insertion of blanks into the sample stream.
Qualified Person
Joseph Arengi, M. Sc., P. Geo., President and Chief Executive Officer of Alder and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release.
| |
| Table 1. Summary of sample results from Tipispan. |
Sample
Number |
Area |
Cu
(%) |
Au
(g/t) |
Ag
(g/t) |
Pb
(%) |
Zn
(%) |
| 320847 |
North Pit |
3.99 |
6.52 |
114.1 |
1.53 |
2.59 |
| 320848 |
North Pit |
0.36 |
0.08 |
3.7 |
<0.05 |
<0.02 |
| 320849 |
North Pit |
<0.01 |
0.47 |
4.1 |
<0.05 |
<0.02 |
| 320850 |
North Pit |
4.46 |
10.84 |
97.4 |
0.33 |
3.28 |
| 321251 |
South Pit |
4.18 |
1.46 |
34.5 |
11.15 |
12.62 |
| 321252 |
South Pit |
0.32 |
0.45 |
20.4 |
0.1 |
0.91 |
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 Cu-Au-Ag porphyry target is the Rosita project in Nicaragua located 275 kilometres northeast of Managua. The company has current Inferred mineral stock pile resources of 7.95 million tonnes grading 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag with numerous zones that have good near term potential to add to and enhance these resources. See the technical report entitled "Rosita Cu-Au-Ag Project, RAAN, Nicaragua, NI 43-101 Technical Report on Mineral Resource Estimate of Rosita Stockpiles" effective as of May 8, 2012, which is available under the Company's profile at www.sedar.com. Alder is also highly encouraged by recent trench results that, in conjunction with previous drill results from the Tipispan area, support management's belief of a large, untested, copper-gold-silver porphyry/skarn system locally overlain by a high grade, supergene enriched, oxide blanket.
In August 2011, Alder entered into an option agreement to acquire a 65% interest in the Rosita D concession from Calibre Mining Corp. by issuing 1,000,000 shares and incurring expenditures of $4,000,000 over four years. To date Alder has incurred more than half of the $4,000,000 earn-in obligation.
Alder intends to continue to build its property position with strategic acquisitions.
For additional information, please visit our website at www.alderresources.ca and follow us on Facebook and Twitter: @AlderResources.
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 "Figure 1. Location of Tipispan prospect" please visit the following link: http://media3.marketwire.com/docs/Alder02142013fig1.pdf
To view "Figure 2. Sample location, Tipispan prospect, Bambana area" please visit the following link: http://media3.marketwire.com/docs/Alder02142013fig2.pdf
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