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21.03.2013
Cadan Resources: Mining Group Provides Mineral Resource Estimate For Comval
Cadan Resources: Mining Group Provides Mineral Resource Estimate For Comval
CADAN RESOURCES CORPORATION (TSX-V: CXD and Frankfurt: AOMZ25) ("Cadan") reports that Mining Group Limited (ASX:MNE.AX - News) ("Mining Group") has received a technical report on the Comval Copper Gold project prepared by Independent Qualified Person Christopher Black of Cube Consulting Pty Ltd. with an effective date of March 19, 2013. The report provides an inferred mineral resource estimate of 136,000 tonnes of Copper and 133,700 ounces of gold.
The inferred mineral resource estimate was prepared using the CIM Standards of Disclosure for Mineral Resources and Mineral Reserves 2010 and will be filed as an NI 43-101 technical report with SEDAR within 45 days of this release.
The Comval Project is operated by Argusan Metals Corporation (Previously named Philco Metals Corporation) which holds the exploration permits on the Comval Project. Cadan retains a 20% free-carried interest in Argusan Metals Corporation (AMC). Mining Group has an 80% interest in AMC and is the manager of the project. In addition to its direct 20% interest in AMC, Cadan also owns approximately 8.51% of Mining Group's present issued capital.
The Comval NI 43-101 Inferred Mineral Resources estimate is 32,675,000 t at 0.42% Copper and 0.13 g/t Au at a 0.30% copper cutoff.
The inferred mineral resource was estimated at four deposit locations, Tagpura East, Tagpura West, Maangob and Kalamatan using wireframe models constructed from the basis of a 0.20% copper lower grade cutoff for the estimation domain.
Cube utilised a combination of a single Indicator Weighted Kriging method (IK) and Ordinary Kriging (OK) to estimate copper, gold and density into the Tagpura and Maangob block model. Estimation into the Kalamatan block model utilised OK to estimate copper and gold.
Single Indicator Weighted Kriging (IK) was utilised to estimate copper inside the 0.2% Cu Tagpura East and Maangob. IK was also utilised to estimate gold inside the 0.2% Cu Tagpura east domain. The estimation of all the remaining elements and domains utilised Ordinary Kriging (OK).
An in situ bulk density was estimated into the estimation domains to allow for local variation in density.
This estimate was then used to populate a three dimensional block model with grade for copper and gold and density.
The estimate was calculated using drill hole data from drill programs conducted by Cadan at all deposits and also included adit sampling data at Maangob and Kalamatan.
Qualified Person / Quality Assurance and Quality Control ("QA/QC")
Data verification included a QAQC program of interspacing high and low level commercial copper and gold standards with exploration drill and adit samples for analysis by Intertek. The authors have reviewed the QAQC for the program and have analytically reviewed the standard results as well as the data storage and data management of the exploration database. The veracity of the data and database is of sufficient confidence to construct geological and grade models for Mineral Resource estimation in adherence to the CIM Definitions for standard Mineral Resource and Mineral Reserves 2010 and in compliance with NI 43-101.
The above technical information was prepared and verified by Chris Black BSc (Hons), MAIG a member of the AIG and consultant to Mining Group. Mr. Black has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information and opinions contained in this news release. Mr. Black is a qualified person as defined in NI 43-101.
For further information on Cadan please visit our website at www.cadanresources.com, email us at info@cadanresources.com, call us at (604) 687-0760, or contact:
Robert Butchart
President / CEO
Email: butch.cadan@gmail.com
John D. Anderson
Chairman
Email: janderson@cadanresources.com
Neither the 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.
Forward Looking Statements
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with the timing and content of future work programs, geological interpretations and resource potential of the Comval Project. There is no guarantee that additional exploration will lead to evaluation of a mineral resource, or that any resource will have demonstrated economic viability as necessary to be classified as a reserve. The reader is referred to Cadan's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through www.cadanresources.com or Cadan's page on SEDAR at http://www.sedar.com.
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CADAN RESOURCES CORPORATION (TSX-V: CXD and Frankfurt: AOMZ25) ("Cadan") reports that Mining Group Limited (ASX:MNE.AX - News) ("Mining Group") has received a technical report on the Comval Copper Gold project prepared by Independent Qualified Person Christopher Black of Cube Consulting Pty Ltd. with an effective date of March 19, 2013. The report provides an inferred mineral resource estimate of 136,000 tonnes of Copper and 133,700 ounces of gold.
The inferred mineral resource estimate was prepared using the CIM Standards of Disclosure for Mineral Resources and Mineral Reserves 2010 and will be filed as an NI 43-101 technical report with SEDAR within 45 days of this release.
The Comval Project is operated by Argusan Metals Corporation (Previously named Philco Metals Corporation) which holds the exploration permits on the Comval Project. Cadan retains a 20% free-carried interest in Argusan Metals Corporation (AMC). Mining Group has an 80% interest in AMC and is the manager of the project. In addition to its direct 20% interest in AMC, Cadan also owns approximately 8.51% of Mining Group's present issued capital.
The Comval NI 43-101 Inferred Mineral Resources estimate is 32,675,000 t at 0.42% Copper and 0.13 g/t Au at a 0.30% copper cutoff.
The inferred mineral resource was estimated at four deposit locations, Tagpura East, Tagpura West, Maangob and Kalamatan using wireframe models constructed from the basis of a 0.20% copper lower grade cutoff for the estimation domain.
Cube utilised a combination of a single Indicator Weighted Kriging method (IK) and Ordinary Kriging (OK) to estimate copper, gold and density into the Tagpura and Maangob block model. Estimation into the Kalamatan block model utilised OK to estimate copper and gold.
Single Indicator Weighted Kriging (IK) was utilised to estimate copper inside the 0.2% Cu Tagpura East and Maangob. IK was also utilised to estimate gold inside the 0.2% Cu Tagpura east domain. The estimation of all the remaining elements and domains utilised Ordinary Kriging (OK).
An in situ bulk density was estimated into the estimation domains to allow for local variation in density.
This estimate was then used to populate a three dimensional block model with grade for copper and gold and density.
The estimate was calculated using drill hole data from drill programs conducted by Cadan at all deposits and also included adit sampling data at Maangob and Kalamatan.
Qualified Person / Quality Assurance and Quality Control ("QA/QC")
Data verification included a QAQC program of interspacing high and low level commercial copper and gold standards with exploration drill and adit samples for analysis by Intertek. The authors have reviewed the QAQC for the program and have analytically reviewed the standard results as well as the data storage and data management of the exploration database. The veracity of the data and database is of sufficient confidence to construct geological and grade models for Mineral Resource estimation in adherence to the CIM Definitions for standard Mineral Resource and Mineral Reserves 2010 and in compliance with NI 43-101.
The above technical information was prepared and verified by Chris Black BSc (Hons), MAIG a member of the AIG and consultant to Mining Group. Mr. Black has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information and opinions contained in this news release. Mr. Black is a qualified person as defined in NI 43-101.
For further information on Cadan please visit our website at www.cadanresources.com, email us at info@cadanresources.com, call us at (604) 687-0760, or contact:
Robert Butchart
President / CEO
Email: butch.cadan@gmail.com
John D. Anderson
Chairman
Email: janderson@cadanresources.com
Neither the 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.
Forward Looking Statements
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with the timing and content of future work programs, geological interpretations and resource potential of the Comval Project. There is no guarantee that additional exploration will lead to evaluation of a mineral resource, or that any resource will have demonstrated economic viability as necessary to be classified as a reserve. The reader is referred to Cadan's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through www.cadanresources.com or Cadan's page on SEDAR at http://www.sedar.com.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA12721D2032">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA12721D2032</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.