Vancouver, British Columbia--(Newsfile Corp. - February 28, 2020) - Commander Resources Ltd. (TSXV: CMD) ("Commander") has acquired by online staking two gold properties in northwestern Ontario. The First Loon Property (5,507 ha) is in the Pickle Lake Gold Belt and is located south and east of the main concentration of past producing mines that include the Pickle Crow, Central Patricia and Dona Lake mines with total reported historical production of 2,300,000 ounces (ref. 2015 Institute on Lake Superior Geology, Fieldtrip Guidebook).
Large land position acquired in Pickle Lake Gold Belt, Ontario
Property covers 27 km trend of iron formations and major structures
Second gold property acquired in Sturgeon Lake belt covering gold in lake sediment anomalies
Utilized proprietary database acquired from Union Miniere Explorations and Mining Corporation ("UMEX")
The First Loon property is underlain by the Confederation assemblage (intercalated mafic to intermediate volcanic rocks with iron formation) and the Kaminiskag assemblage (tholeiitic basalts and thinner calc-alkaline dacitic to rhyolitic pyroclastic rocks and iron formation). Bedrock exposure in this region is very limited and detailed airborne geophysical surveys are anticipated to guide a first pass evaluation of this property. There are at least 20 historical drill holes on the property from UMEX, Placer Dome and Kerr Addison. Analytical results from this drilling are limited but may reflect historical bias whereby only rocks that fit the geological model of the day were analysed. The central axis of the property is cored by an intermediate volcanic package within mafic volcanic rocks. The intermediate volcanic rocks are inter-layered with chert, iron formation, felsic volcanic rocks and local massive pyrite and pyrrhotite lenses and minor chalcopyrite.
The Pickle Lake Gold Belt
The Pickle Lake greenstone belt is part of the Uchi Subprovince which is host to many gold deposits, including the Red Lake greenstone belt and its associated gold deposits located some 250 Km to the west. The belt comprises supracrustal rocks and internal granitoid plutons surrounded by large granitoid batholiths and is subdivided into assemblages that include the Pickle Crow assemblage, The Kaminiskag assemblage and the Confederation assemblage, each separated by fundamental structures interpreted to be major crustal scale breaks that may control the formation of major gold deposits.
Most of the historical gold discovered and mined to date is within the Pickle Lake assemblage and is dominantly hosted by iron formations in fold hinges and related shears however gold has been observed in other rock types which remain underexplored. Commander has targeted these underexplored and poorly exposed terranes in the vicinity of known deposits.
The Staunton Property (801 ha) is located at the north end of the Sturgeon Lake belt some 120 km south of Pickle Lake and covers a cluster of elevated gold values in lake sediments collected in 2003 by the Ontario Geological Survey.
Commander is holder of a proprietary database of company files documenting the exploration activities of Union Miniere Explorations and Mining Corporation ("UMEX") acquired from UMEX in 1989 and which formed the core foundational asset of the Company. UMEX explored for gold and base metals throughout the Pickle Lake and Sturgeon Lake greenstone belts and discovered and operated the Thierry Nickel Mine in Pickle Lake. An ongoing program of compilation and de-archiving of this database contributed to this land acquisition.
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.
About Commander Resources:
Commander Resources is a Canadian focused exploration company following the Prospect Generator business model 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. The Company has two active partnerships with Fjordland and HPX on its South Voisey's Bay Nickel project in Labrador and with Freeport McMoRan on its Burn copper/gold project in British Columbia.
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
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.
Figure 1: Land Tenure
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