TORONTO, ONTARIO--(Marketwired - Sep 4, 2013) - Alder Resources Ltd. (TSX VENTURE:ALR) ("Alder" or the "Company") is pleased to provide results from a new occurrence, the Tigre Negro Norte area, within the Company's Rosita Project in northeast Nicaragua (Figure 1). Sampling has returned 1.67 g/t Au over 17.6 metres (Figure 2). This new zone is open along strike and to depth. The Tigre Negro Norte area is located 400 metres north and along strike of the Tigre Negro Cu-Au-Ag prospect, which returned 1.76 g/t Au, 4.84 g/t Ag and 1.71% Cu over 12.0 metres in a reverse circulation drill hole. It may also be related to the same structure set that hosts the Tipispan zone, where trenching has returned up to 5.21% Cu, 4.40 g/t Au and 144.01 g/t Ag over 12.1 metres. Tigre Negro Norte results are summarized in Table 1 at the end of this release.
Company President and CEO, Joseph Arengi, states: "Our ongoing exploration efforts continue to expand the mineralization footprint at Rosita. It now appears that the Tipispan, Tigre Negro Norte and Tigre Negro mineralized zones can be linked to form an approximately two kilometre long, open ended mineralized trend. Despite the current challenging market conditions, Alder continues to add value to the highly prospective Rosita Project through diligent and cost effective exploration, and when the timing is right, we will have several high quality drill targets to pursue."
These results further confirm the importance of northwest trending structures which serve as conduits for significant base and precious metal mineralization. This is evident now at Tigre Negro Norte, the gold zone along the west side of the Santa Rita pit and the high grade copper-gold-silver zones in trenches at Tipispan (Figure 1).
Previous exploration at Tigre Negro Norte included two historic reverse circulation holes (HRTN29 and 30) drilled 10 metres east of, and parallel to, the zone - one vertical and the other at 155°bearing. These holes returned highly anomalous gold values of 0.21 g/t over 7.5 metres and 0.56 g/t over 7.5 metres, respectively (Figure 2), which suggests the potential for a larger system. These holes did not test the Tigre Negro Norte discovery.
At Tigre Negro, 400 metres southeast of the Tigre Negro Norte zone, twelve reverse circulation holes were drilled from 1997 to 1999. Two of these holes returned up to 1.76 g/t Au (one sample which returned 16.97 g/t Au was cut to 10 g/t Au), 4.84 g/t Ag and 1.71% Cu over 12.0 metres and 0.95 g/t Au, 7.2 g/t Ag and 0.73% Cu over 6.0 metres.
Sampling was carried out as a series of 1 metre by 1 metre continuous panel samples from a series of small miner workings. The average grade was calculated from samples taken perpendicular to strike. Assay results from this new zone indicate the mineralizing system is gold-only; silver, copper, lead and zinc values are all low. This gold-only geochemical association is similar to that of the northwest striking gold zone in the Santa Rita pit where an intercept of 29.54 g/t Au over 8.0 metres core length occurs. Silver and base metal values are low in both cases.
Table 1. Summary of assay results from trench panel sampling at Tigre Negro Norte.
|321385||1.1||3.29||321569||1.2||4.03||Parallel to trend|
|321387||1.2||4.81||321571||1.0||0.51||Parallel to trend|
|321388||1.0||1.67||Oblique to trend||321572||2.0||0.44||Parallel to trend|
|321389||2.0||1.50||321573||1.0||0.93||Parallel to trend|
|321390||1.0||0.52||321574||0.8||1.28||Parallel to trend|
|321391||1.0||1.67||321575||2.0||0.28||Parallel to trend|
* Width represents sampled width; true widths are unknown at this time.
Soil sampling has been carried out to the northwest of the Tigre Negro Norte zone, along three lines over 250 metres, with a goal of extending the mineralized trend to the northwest towards the Tipispan zone. Results are pending.
Quality Assurance/Quality Control
Alder has implemented an industry standard Quality Assurance/Quality Control program that includes the insertion of certified standards and blanks into the sample stream. Samples were collected into heavy gauge plastic bags, sealed on-site, then stored at Alder's Rosita field office until transported by company or laboratory personnel to Inspectorate Exploration and Mining Services' sample preparation facility in Managua. In Managua, pulps were prepared for shipping to Inspectorate's Analytical laboratory in Reno, Nevada, where each sample was analyzed via 1 assay-tonne fire assay for gold and 30 element ICP (Inductively Coupled Plasma-atomic emission spectrometry) methods for copper, silver and 28 other elements.
Joseph Arengi, M.Sc., P.Geo., President and Chief Executive Officer of 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 Cu-Au-Ag porphyry target is the Rosita project in Nicaragua located 275 kilometres northeast of Managua. The company has current Inferred mineral stock pile resources of 7.95 million tonnes grading 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag with numerous zones that have good near term potential to add to and enhance these resources. See the technical report entitled "Rosita Cu-Au-Ag Project, RAAN, Nicaragua, NI 43-101 Technical Report on Mineral Resource Estimate of Rosita Stockpiles" effective as of May 8, 2012, which is available under the Company's profile at www.sedar.com. Alder is also highly encouraged by recent trench results that, in conjunction with previous drill results from the Tipispan area, support management's belief of a large, untested, copper-gold-silver porphyry/skarn system locally overlain by a high grade, supergene enriched, oxide blanket.
In August 2011, Alder entered into an option agreement to acquire a 65% interest in the Rosita D concession from Calibre Mining Corp. by issuing 1,000,000 shares and incurring expenditures of $4,000,000 over four years. To date Alder has incurred more than half of the $4,000,000 earn-in obligation.
For additional information, please visit our website at www.alderresources.ca and follow us on Facebook and Twitter: @AlderResources.
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding potential mineralization, exploration results and future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Alder to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operations in foreign jurisdictions; ability to successfully integrate the purchased properties; and other risks inherent in the mining industry. Although Alder has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Alder does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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To view Figure 1 and Figure 2 accompanying this press release, please visit the following link: http://media3.marketwire.com/docs/896018.pdf