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Commander Resources Ltd.

Publié le 06 septembre 2017

Commander and Fjordland Expand Land Holdings at South Voisey's Bay Nickel Project, Labrador and Begin Preparations for Initial Drill Test of Sandy Target

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Mots clés associés :   Canada | Cash | Mine | Nickel |

Commander and Fjordland Expand Land Holdings at South Voisey's Bay Nickel Project, Labrador and Begin Preparations for Initial Drill Test of Sandy Target

Vancouver, British Columbia--(Newsfile Corp. - September 6, 2017) - Commander Resources Ltd. (TSXV: CMD) ("Commander")  and project partner Fjordland Exploration Inc. ("Fjordland") (TSXV: FEX) are pleased to announce that they have recently expanded the land position at their South Voisey's Bay Project (the "SVB Property") located in Labrador, Canada, to a total of 29,400 Ha (294 km 2) covering the majority of the of the Pants Lake Gabbro Complex. Furthermore the companies have initiated preparations to conduct an initial 1000m drill test of the Sandy Target beginning in mid-September.

Fjordland currently owns a 15% interest in the property earned during an earlier agreement from 2014. Both companies have recently entered into a letter agreement (see press release dated June 5, 2017) allowing for Fjordland to acquire up to a 100% interest by paying Commander aggregate cash payments of $290,000 completing $8.0 million in exploration expenditures and issuing to Commander an aggregate of 4.5 million post consolidation shares as follows:

- Filed by newsfilecorp.com



Date for Completion

Option Payment

Fjordland Shares
Exploration and Development
Expenditures 
Approval Date (complete) $ - 200,000 $ -
October 31, 2017 (FEX Vests at 35%) - - $600,000
1st anniversary of Approval Date $ 10,000 250,000 -
2nd anniversary of Approval Date $ 15,000 300,000 -
3rd anniversary of Approval Date $ 25,000 350,000 -
October 31, 2021 (FEX vests at 75%) $ 40,000 400,000 $ 2,400,000
October 31, 2024 (FEX vests at 100%) $200,000 3,000,000 $5,000,000
TOTAL $ 290,000 4,500,000 $ 8,000,000


Upon Fjordland acquiring a 100% interest in the project, Commander will retain a 2% NSR and Fjordland will have the right to buy down 50% of the Royalty for a payment of $5,000,000 as a cash payment, or a cash payment equal $2,500,000 plus the issuance of shares having a fair market value of 50% of the buy down amount. Commander will receive a $10,000,000 advance royalty payment at the commencement of commercial production.

On August 28, 2017, Fjordland announced a non-binding agreement with High Power Exploration Inc. ("HPX") through which an affiliate of HPX would fund $1.4 million in project expenditures by means of a private placement in Fjordland and a further agreement by HPX to fund, on behalf of Fjordland, up to $7.4 million in additional exploration expenditures and $290,000 in property payments, following which Fjordland has agreed to assign a 65% project interest to HPX (see FEX news release dated August 28, 2017). A definitive Investment Agreement and Subscription Agreement were executed by HPX and Fjordland on September 5, 2017 as scheduled. Completion of the investment is conditional on HPX's final due diligence review, to be completed on or before September 20, 2017, as well as shareholder and TSX Venture Exchange approval.

HPX is a privately owned, metals-focused exploration company deploying proprietary in-house geophysical technologies to rapidly evaluate mineral prospects. The HPX technology cluster comprises systems for targeting, modelling, survey optimization, acquisition, processing and interpretation. HPX has a highly experienced board and management team led by Co-Chair and Chief Executive Officer Robert Friedland.

The SVB property is located in central Labrador some 80 kilometres south of Vale's Voisey's Bay Nickel mine and covers parts of the Pants Lake Gabbro Complex. The Pants Lake Complex contains host rocks with alteration and nickel mineralization styles consistent with high nickel prospectivity. In November 2014 Commander and Fjordland completed a UTEM and ground magnetic survey over a portion of the claims, referred to as the Sandy Target, where historical work has indicated the presence of a strong conductor. Results of this more recent survey outlined a strong horizontal conductor and 4 strong sub-vertical conductors near the Worm Gabbro, a possible feeder dyke to the larger gabbro bodies. (see News Release dated March 2, 2015). The Sandy Target forms will be the focus of the initial drill program announced herein.

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
info@commanderresources.com

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.

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Commander Resources Ltd.

EN DÉVELOPPEMENT
CODE : CMD.V
ISIN : CA2005021027
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Commander Res. est une société d’exploration minière d'argent et d'or basée au Canada.

Commander Res. est en développement de projets d'argent, d'or, de diamants et d'uranium au Canada, et détient divers projets d'exploration au Canada.

Ses principaux projets en développement sont HERMITAGE et BAFFIN ISLAND au Canada et ses principaux projets en exploration sont NEPISIGUIT-STEWART, OLYMPIC-ROB, LOCHINVAR, ORION GOLD, SABIN, STORM PROPERTY et DESPINASSY au Canada.

Commander Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 8,1 millions CA$ (5,9 millions US$, 5,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 24 mai 1996 à 1,40 CA$, et son plus bas niveau récent le 18 décembre 2015 à 0,01 CA$.

Commander Res. possède 115 300 000 actions en circulation.

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Dans les médias de Commander Resources Ltd.
30/03/2006Corporate profile
Rapports annuels de Commander Resources Ltd.
2007 Annual report
2006 Annual report
Financements de Commander Resources Ltd.
23/05/2011Closes Tranche 2 of Financing
12/04/2011Announces Private Placement Financing
Nominations de Commander Resources Ltd.
24/06/2008Announces Appointment of Director
Projets de Commander Resources Ltd.
02/12/2013Drilling Commences on Commander's Nepisiguit Property, New B...
09/07/2013Expands Sarah Lake Nickel Property, Labrador
17/05/2013to Acquire 100% Interest in Sarah Lake Nickel Property, Labr...
21/01/2013Reports Progress on Storm Copper Property, Nunavut
25/09/2012Completes 2012 Field Program & Receives Results from Omineca...
23/07/2012Optionee Commences Work at Storm Copper Property
29/03/2012Provides Update on Storm Copper Property Deal
27/03/2012Completes Initial Drill Program at Stump Lake Gold Property
23/03/2012(Baffin Island)Retains 100% of the Baffin Island Project
10/02/2012Identifies Anomalous Gold Zones on Yukon Gold Property
08/02/2012to Commence Initial Drill Program at Stump Lake Gold Propert...
31/01/2012Sells Remaining Green Bay Property Interest to Maritime
26/01/2012(Baffin Island)Outlines Large I.P. Anomaly at Baffin Island Gold Property
15/12/2011(Storm Property)Closes Storm Property Deal
24/11/2011Signs $15 Million Option Agreement on Storm Copper Property
13/10/2011Commences IP Survey on Stump Lake Gold Property, BC
22/07/2011Commences Work on Yukon Gold Property
06/07/2011(Baffin Island)Mobilizes for 2011 Baffin Island Gold Program
14/06/2011Acquires New Gold Property In BC
03/06/2011Options Gold Property in the Yukon
13/04/2011Partner Intersects High Grade Gold in Newfoundland
24/02/2011(Orion Gold)Reports That Drilling Has Commenced on Orion Gold Project
16/02/2011Partner Cuts High Grade Copper at Nepisiguit
24/09/2009(Baffin Island)Discovers New Gold Showings On The Baffin Gold Project, Nuna...
24/02/2009Files 43-101 Technical Report On The Storm Copper Project, N...
03/11/2008(Baffin Island)Awaits Assay Results From Baffin Gold Project
30/05/2008Commissions a 43-101 Technical Report on the Newly Acquired ...
09/05/2008(Rob) Attracts a New Partner to the Olympic-Rob Property, Yukon T...
08/04/2008Commander Acquires High Grade Base Metal Property with Histo...
26/03/2008(Hermitage) Samples 0.17% U3O8 Over 1.15 Metres At Hermitage
14/02/2008(Blue Hills (hermitage)) Earns 100% Interest In The Blue Hills And White Bear Uraniu...
04/02/2008(Hermitage) Extends Uranium Trend On Hermitage
21/01/2008(Strickland (hermitage)) Outlines Drill Targets at Troy's Pond
14/01/2008(Baffin Island) Reaches Agreement to Accelerate Acquisition of 100% of Qimm...
10/01/2008(Despinassy) Sells Despinassy Interest To JV Partner
26/11/2007Durette Drilling Returns High Grade Intersections And A New ...
15/10/2007(South Voisey Bay)Commander and Donner Commence EM Survey on the Sarah Lake Ni...
02/10/2007(Baffin Island)Baffin Project Update - New Mineralized Trend Discovered
19/09/2007(Olympic-rob)'s Partner In The Yukon Reports 1.12% Cu over 5.6 metres fro...
04/07/2007(Olympic-rob)Drilling Commences On Commander'S Olympic-Rob Cu-Au-U Proper...
05/06/2007(Hermitage)Reports Drill Results From Newly Discovered Uranium Minerali...
07/05/2007(Hermitage)Completion of Phase 1 Drill Program: Radiometric Zones Disco...
26/04/2007(Hermitage)Drilling on White Bear Confirms Bedrock Uranium Mineralizati...
09/04/2007(Hermitage)CMD's Hermitage Uranium Exploration Update
Communiqués de Presse de Commander Resources Ltd.
23/06/2016Commander Acquires Exploration Assets from Bearing Resources
09/06/2016Commander Elects Five Directors and Appoints Stephen Wetheru...
02/05/2016Commander Raises $1 million through Sale of Aston Bay Shares
07/04/2016Commander Amends Option Agreement with Maritime for Purchase...
08/10/2015Commander Announces Executive Appointment
01/10/2015Commander Resources Announces Executive Appointment
21/07/2015Commander Grants Incentive Stock Options
11/07/2015Commander Amends Option of Glenmorangie Property
09/07/2015Commander Appoints Robert Cameron to the Board
08/07/2015Commander Appoints Robert Cameron to the Board
02/03/2015Geophysical Survey Outlines Strong Conductors on South Voise...
15/08/2013Attains 100% Ownership of South Voisey's Bay Nickel Project
28/05/2013Reports Resource Estimate for 40% Owned Maritime Resources N...
06/05/2013Optionee on Storm Copper Property Completes Public Listing
17/10/2012Defines Drill Targets on its Glenmorangie Gold Property, Yuk...
11/10/2012Optionee Moving Forward on Public Listing
27/06/2012Commences 2012 Field Program
27/04/2012Reports Stump Lake Gold Drill Program Results
13/09/2011Extends Strike Length of Gold Showings at Stump Lake, BC
29/06/2011Commences Work on Storm Copper Property
21/06/2011Partner Expands High Grade Gold Zones at Orion
01/06/2011(Orion Gold)and Maritime Resources Corp.: Exploration and Development Al...
08/04/2011Plans 2011 Exploration Program
06/04/2011Appoints New Vice President of Exploration
29/07/2010Options New Brunswick Properties to Stratabound Minerals
19/11/2009Final Approvals For Anglogold Baffin Farm-In And JV
09/11/2009Samples Up to 442 G/T Gold from New Baffin Prospects
04/06/2009Receives Units of Fjordland as Settlement
02/03/2009Seeks Partner For The Orion Gold Deposit, Newfoundland
03/12/2008Cuts 91.06 G/T Gold Over 1.6 Metres In Channel Sampling On B...
13/11/2008and Bayswater Sell a Royalty on Cochrane Pond to Global Gold...
30/09/2008CMD - Update September 2008
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01/08/2008Photos and information available from the Storm Copper prope...
16/07/2008Identifies A Third Geophysical Anomaly In Labrador; Drill Co...
13/05/2008Commander Leverages Its Base Metal Rights On Baffin Island
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25/02/2008 Plans Geophysical Survey on Labrador Nickel Properties
08/02/2008Will Be Exhibiting at the 2008, North of 60 Resource Confere...
20/12/2007Corporate Update
16/10/2007BMK Communications
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15/08/2007Message from the President and CEO
25/07/2007Is Set To Continue Exploration On The Hermitage Uranium Proj...
06/07/2007Global Gold Uranium Commences Airborne Survey On Cochrane Po...
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