
Alder Discovers Bonanza Grade Gold Zone Including 8 Metres at
29.54 G/T Gold at Rosita Project, Nicaragua
TORONTO, ONTARIO--(Marketwire - Sept. 5, 2012) - Alder Resources
Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to
present assay results for core hole D914 completed in the Rosita D
Concession, in northeast Nicaragua. Located along the western side
of the Santa Rita pit (see figure 1), the drill hole intersected 8
metres grading 29.54 grams per tonne ("g/t") gold ("Au") from 240
metres. The intercept includes a 2 metre interval from 241 metres,
averaging 110.68 g/t Au, which is comprised of two, 1-metre
segments assaying 139.29 g/t Au and 82.07 g/t Au, respectively. If
cut to 30 g/t Au, the 8-metre interval grades 9.38 g/t Au. This
high grade intercept occurs in garnetite skarn and skarn breccia,
containing a stockwork of calcite+quartz+sulphide veinlets with
visible gold noted locally in the drill core. The hole was drilled
obliquely to the interpreted northwest trend and the true width of
this intercept is unknown. Further drilling is required to
delineate the geometry of this zone.
These results demonstrate the presence of bonanza grade gold values
along a northwest-trending gold-bearing corridor. This
mineralization is primarily gold with lesser amounts of silver and
is distinct from the copper-gold-silver mineralization associated
with skarn and diorite host rocks. Hole D914 is located 250 metres
northwest of previously released hole D910, which intersected 65
metres of skarn mineralization grading 1.48 g/t Au from 50 metres,
including 8.0 metres grading 6.90 g/t Au and 4.0 metres grading
3.22 g/t Au (see Alder press release, May 31, 2012). Hole D912,
drilled below D910, returned two intercepts of 2.0 metres grading
1.45 g/t Au and 4.0 metres grading 1.76 g/t Au that correlate with
the two higher grade intercepts in D910. Based on results to date,
Alder management believes there is reasonable potential to define a
high grade, northwest-trending gold zone in the same area that has
historically produced skarn and porphyry-style copper-gold-silver
mineralization and in the same area that Alder is working to define
a skarn and porphyry-style copper-gold-silver resource.
High grade gold mineralization was also intersected in
north-directed angle hole D911, located on the southwest side of
the R-13 pit and 650 metres to the northeast of holes D910 and
D912. There, a 6 metre interval from 173 metres intersected 1.86
g/t Au and a 1-metre interval from 290 metres returned 30.37 g/t
Au, within a broader 3 metre zone from 289 metres assaying 0.80%
copper ("Cu"), 10.45 g/t Au, and 21.83 g/t silver ("Ag"). The
orientation of this high grade structure remains unclear, however,
its location within a northwest-striking zone of mineralization
identified in the 1970s (referred to as the R-13 West deposit),
indicates that northwest-trending structures may have a greater
influence in localizing precious metals than previously recognized.
High grade gold values have been intersected in three of the
fourteen core holes reported to date (D910, D911, and D914). A
total of 18 core holes have been completed in the Phase One drill
campaign at Santa Rita.
Alder plans to drill additional holes along the interpreted
northwest-trending gold-bearing structural corridors flanking the
Santa Rita pit, and also plans to test several prominent IP
geophysical anomalies generated by a recently completed 79
line-kilometre survey. The goal is to define both a gold-only and a
gold-copper-silver bedrock resource that could compliment the
current Inferred stockpile mineral resource of 7.95 million tonnes
grading 0.62% Cu, 0.46 g/t Au and 9.20 g/t Ag (see Alder press
release, May 9, 2012). Results for additional core holes are
pending, including the first two at the Bambana prospect, located 4
kilometres northwest of Santa Rita.
Results for this and select other drill holes completed at Santa
Rita are summarized in Table 1 and illustrated in Figure 1.
Table 1. Summary of diamond drill hole intercepts at Santa
Rita/R-13 area.
Hole ID Area From (m) To (m) Core Length (m) Cu (%) Au (g/t) Ag
(g/t)
D911 R-13 173.0 179.0 6.0 0.05 1.86 3.15
and 289.0 292.0 3.0 0.80 10.45 uncut 21.83
10.33 cut
including 290.0 291.0 1.0 0.48 30.37 uncut 11.60
30.00 cut
D912 Santa Rita 156.0 158.0 2.0 1.24 1.45 12.25
and 197.0 201.0 4.0 0.03 1.76 0.09
D913 Sta Rita low grade values
D914 Sta Rita 235.0 250.0 15.0 0.04 15.82 uncut 0.23
5.62 cut
including 240.0 248.0 8.0 0.04 29.54 uncut 0.29
9.38 cut
including 241.0 243.0 2.0 0.04 110.69 uncut 0.60
30.00 cut
Au cut to 30.0 g/t; Ag cut to 50.0 g/t. True widths are not known
at this time.
Gold mining has been carried out in Nicaragua continuously since
the 1930s and to date more than 8 million ounces have been
produced. Most of this production is from northeast trending
epithermal vein systems including the La Libertad, Limon and
Bonanza mines. Gold mining at the past producing La Luz mine at
Siuna, 45 kilometres southwest of Rosita, produced 2.3 million
ounces gold from skarn before closing in 1968. The gold enriched
system at Rosita is a new style of mineralization for Nicaragua and
adds greatly to the economic potential of the Rosita area.
Quality Assurance/Quality Control
All drill holes were collared using HQ-size drill core, and reduced
to NQ-size where necessary. Core was loaded on-site into wooden
core boxes and transported on a daily basis by Company personnel to
Alder's secure field office in Rosita, where geologists logged the
holes, and selected intervals for assay. Individual samples of
drill core were sawed, using a 10" diamond blade trim saw. Half of
the sample was retained in the core box, the rest loaded into a
pre-numbered, heavy gauge plastic bag, sealed and then trucked on a
weekly basis (by the lab or by Company personnel) to Inspectorate
Exploration and Mining Services' preparation laboratory in Managua.
There, pulps were prepared for shipping to Inspectorate's
Analytical laboratory in Vancouver, where each sample was analyzed
via fire assay for gold and for copper, silver and 28 other
elements using ICP (inductively coupled plasma-atomic emission
spectrometry) methods. Alder has implemented an industry standard
Quality Assurance/Quality Control program that includes the
insertion of certified standards and blanks into the sample
stream.
Qualified Person
John C. Spurney, Certified Professional Geologist (CPG-11007), Vice
President Exploration for Alder and a qualified person as defined
by NI 43-101, has reviewed and approved the scientific and
technical content of this news release.
About Alder Resources Ltd.
Alder is a resource company focused on the development of gold and
base metal projects throughout the Americas. Alder's current high
priority target is the Rosita project in Nicaragua located 275
kilometres northeast of Managua. Also, the Company has an active
reconnaissance program in the country, selectively evaluating areas
of interest.
Alder entered into an option agreement to acquire
a 65% interest in the Rosita D concession from Calibre Mining Corp.
(see Alder press release, August 22, 2011) by issuing 1,000,000
shares and incurring expenditures of $4,000,000 over four years, of
which $500,000 must be spent by October 2012. Alder has completed
this $500,000 expenditure commitment.
Alder intends to continue to build its property position with
strategic acquisitions.
Alder Resources Ltd.
Joseph Arengi, President & CEO
