Commander Partner Southern Empire Resources Provides Drilling Update at Pedro Gold Project, Durango, Mexico
Vancouver, British Columbia--(Newsfile Corp. - February 3, 2022) - Commander Resources Ltd. (TSXV: CMD) ("Commander") has been provided an update from project partner Southern Empire Resources Corp. ("Southern Empire") on the recently initiated drill program on the Pedro Gold Project (1,750 ha.), located in northeastern Durango State, México.
Southern Empire recently initiated drilling at Commander's Pedro Gold project in Durango, Mexico.
Drilling in 3 holes totalling 421 metres has been completed to date. Drilling is ongoing.
Notable observations include short intervals of silicified conglomerate with disseminated and vein controlled arsenic minerals including orpiment and realgar.
Southern Empire is earning a 100% interest for consideration of $700,000 staged over four payments (3 years) and 100,000 shares and work expenditures of $1,500,000. Commander retains a 2% NSR royalty with no buydown provision.
Southern Empire reports, "Drilling is progressing well, with 3 holes totalling 421 metres completed and a fourth hole, which targets an Induced Polarization (IP) geophysical anomaly where strongly oxidized, hematitic volcanic cover rocks have been mapped has started. Core logging of the first 3 holes (DDH P22-01 through -03) suggests zones of up to 70 m of moderately silicified, limestone-dominated conglomerate with zones of up to 20 m (core length) exhibiting disseminated and vein controlled arsenical minerals including orpiment and realgar. Drill core samples have not yet been submitted to an accredited geoanalytical laboratory for assay analysis. It is anticipated that these samples will be sent after the drill program has ended. Assay results will be published at a later date after they are received." Pictures of selected mineralized drill core from the current drill program can be found on the Southern Empire website at www.smp.gold.
The Pedro property is located 80 Km from Torreon, Mexico in the northeastern part of the State of Durango and approximately 30 km west of the town of Mapimi and covers a large multi-kilometre epithermal-style gold target. The wholly owned property was acquired by Commander in 2016 from Bearing Lithium.
The Pedro epithermal-style gold system is outlined at surface by a combined gold (>10 ppb) soil anomaly with dimensions of 4000 metres by 1000 metres. Outcrop exposure comprises prominent hematite-stained silica-rich ridges of angular chalcedony fragments and silicified sedimentary rocks within an angular course breccia. The mineralization extends beneath post-mineral volcanic rocks, colluvium (range front fanglomerate) and alluvium to the north and east. Historical rock sampling of the exposed zones returned gold values in rock from background levels to a maximum of 2.3 ppm (58 greater than 0.25 ppm and 11 greater than 1 ppm). IP geophysics outlined the known zones as elevated chargeability zones and has identified discreet deep features.
Pedro covers prospective "Basin and Range" geology including the Caracol Formation, which is a rhythmically interbedded sequence of carbonaceous limestone, calcareous siltstones, weakly calcareous turbiditic sandstones, and shales. The Caracol Formation is the main underlying sedimentary formation at Pedro and is the dominant clast component of the younger conglomerates that host mineralization.
In 2014, Newmont de Mexico, S.A. de C.V (a wholly owned subsidiary of Newmont Corporation) optioned Pedro to specifically explore for Carlin-style gold deposits that are typically hosted by "dirty limestones", lithologies such as those of the Caracol formation. Newmont's limited, 11 drill hole exploration, although producing results of up to 5.55 m of 0.59 g Au/t in hole LP-011-D, did not meet their expectations and they relinquished their option.
QA/QC Data Verification Statement
Current and historical samples mentioned in this release were prepared and analyzed at various times by ALS Chemex at its labs in Chihuahua, Mexico, and Vancouver, Canada. Soils were analyzed as part of a multi-element inductively coupled argon plasma (ICP) package using aqua regia digestion with over-limit results being reanalyzed with assay procedures using ICP-AES. Gold analyses for rocks were performed on a 30-gram sub-sample by fire assay with an ICP-AES finish. See news dated September 16, 2012 and July 2, 2014 (drill results) posted on SEDAR under Bearing Lithium, and news dated February 19th, 2020 and March 30th, 2021 and July 27, 2021 for Commander Resources.
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. In addition, Mr. Cameron was also the QP for the previous operator. Additional observations provided by Southern Empire are credited to David Tupper, P.Geo. Exploration Manager and qualified person for Southern Empire Resources.
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. 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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112719