Business & Finance
Thu, October 15, 2009Wed, October 14, 2009Tue, October 13, 2009Mon, October 12, 2009Fri, October 9, 2009Thu, October 8, 2009Wed, October 7, 2009Tue, October 6, 2009Mon, October 5, 2009Sun, October 4, 2009Fri, October 2, 2009Thu, October 1, 2009Wed, September 30, 2009Tue, September 29, 2009Mon, September 28, 2009CBR Gold Corp.: CBR Gold Identifies New Regional Targets at Committee Bay Project
Published in Business and Finance on Tuesday, October 6th 2009 at 10:37 GMT by Market Wire
EDMONTON, ALBERTA--(Marketwire - Oct. 6, 2009) - CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M) ("CBG") today announced positive rock sample results from the 2009 regional exploration program at the Committee Bay Greenstone Project located northeast of Baker Lake in Nunavut.
The two week exploration program completed in August 2009 consisted of assessment driven rock and till sampling on mineral claims where previous work had been limited. In total approx. 670 rock samples were collected, of which 4% assayed greater than 150 parts per billion ("ppb") gold ("Au"). Grades of 150ppb are considered anomalous to the Committee Bay Greenstone Belt as many of the project's advanced prospects began with similar anomalous grades. Two targets areas; Queen and Kanosak were also discovered during the 2009 program and show particular potential to develop into significant prospects. (For target locations, see Figure 1 below)
At the Queen target, three rock samples collected from iron formation subcrop and outcrop returned assay values greater than 150ppb and up to 2.11 grams per tonne ("g/t") Au. Queen represents the first indication of gold mineralization within a new and distinct trend of iron formation that is parallel to, and north of, previously identified gold targets.
At the Kanosak target, five rock samples collected from subcrop and boulders of iron formation returned assay results greater than 150ppb and up to 0.39g/t Au. The anomalous samples taken to date define a 1km mineralized trend within a previously unrecognized iron formation.
CBR Gold Corp. intends to advance the Committee Bay Greenstone Belt as a priority project in 2010. It is envisaged that the 2010 program will entail extensive drilling at advanced and developing prospects. CBR Gold Corp. continues to investigate alternatives for advancing development of the project.
The Committee Bay Greenstone Belt is 300 km long, 5 to 50 km wide and geologically comparable to the significant gold bearing belts hosting the Meadowbank and Meliadine deposits currently being developed in eastern Nunavut. Drilling at the Three Bluffs Deposit from 2004 to 2008 has defined a Resource of 508,000 indicated ounces (2,700,000 t @ 5.85 g/t Au) and 244,000 inferred ounces (1,272,000 t @ 5.98 g/t Au) (See CBG press release dated March 2, 2009). The Committee Bay belt currently hosts more than 40 high-grade gold occurrences, but remains one of the longest and least explored greenstone belts in Canada. CBG currently holds a 100% interest in approximately 567,000 acres of mineral properties with prospective geology along the Committee Bay Belt.
To view Figure 1 please click on the following link: [ http://media3.marketwire.com/docs/CBG1006.pdf ]
CBR GOLD CORP. is a global exploration and development company creating opportunity through project acceleration. We deliver value through innovative thinking to identify and acquire underappreciated projects worldwide. Our experience in the capital markets and technical expertise allow us to develop early and advanced stage projects to the point of joint venture or production. Our strategy is to partner with best in class companies to reduce our risk while maximizing the potential for success.
The diverse CBR Gold Corp. portfolio currently includes two advanced stage projects, Niblack (Alaska) and Committee Bay (Nunavut), multiple generative projects, marketable securities holdings and drilling companies in Australia and Canada.
For information on the Three Bluffs resource refer to CBG Press Release dated March 2, 2009 and Technical Report filed on April 28, 2008 at [ www.sedar.com ].
The Company maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The program is supervised by Peter Kleespies, M.Sc., P. Geol. who is the Qualified Person as defined by NI 43-101. A detailed description of CBR Gold Corp.'s QA/QC program is provided on the Company's website at [ www.cbrgoldcorp.com ].
CBR Gold Corp. is a member of the Discovery Group of companies, for more information on the group visit [ www.discoveryexp.com ].
On behalf of the Board
CBR Gold Corp.
John Williamson, P.Geol., President, CEO & Director
Certain disclosures in this release, including management's assessment of CBR Gold Corp.'s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to CBR Gold Corp.'s operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. CBR Gold Corp. expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
"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."
