Commander's Kanosak Potential Expanded With Drill Results and New Surface Gold Discoveries
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/12/10 -- Commander Resources Ltd. (TSX VENTURE: CMD) ('Commander') has now received all assays from its 2010 exploration program on the Baffin Gold project, including results from the final five holes drilled on the Kanosak prospect and results from new surface discoveries. Initial results from the Kanosak drilling (drill holes KAN-10-1 to 8) were released on September 23, 2010. Results for holes KAN-10-9 to 13 are reported here. The table below summarizes significant results from drill holes completed at the Kanosak prospect in 2010.
Prospecting work in the Kanosak area discovered two new areas of gold mineralization; one between the Kanosak Main and Kanosak North prospects and significantly, one located 500 metres to the northeast of the Kanosak North prospect, which extends the Kanosak structural corridor to at least 4 kilometres. Added to the potential of this new area is the coincidence of the surface showings with a northeast trending, 300 metre wide by 1,800 metre long geophysical anomaly defined by the recently completed Induced Polarization (IP) survey.
The combination of the drill results and new prospecting discoveries demonstrate the potential of the trend to host significant gold mineralization. It is important to note that even in holes where no significant values of gold were noted, strongly anomalous gold contents up to 500 ppb (equivalent to 0.5 g/t Au) are present in two parallel zones as described in previous news release dated September 23, 2010.
'We are very encouraged that we are continuing to intersect significant gold values in almost all of the drill holes at Kanosak', stated Eric Norton, President and CEO of Commander Resources. 'With very little geophysical data available to guide placement of this season's holes we intersected significant gold values in 9 of 12 widely spaced holes covering a total strike extent of 2.5 kilometres. This is a very large mineralized system, and we are confident that further work will define consistent high grade gold mineralization within this system. The positive results from the recently completed prospecting and geophysical surveying confirm this potential. Kanosak is only one of the prospects on the 140 km long Baffin Gold Property that is a developing gold district'.
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Interval Width Grade
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Drill Hole From To (m) (g/t)
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KAN-10-01 7.47 17.25 9.78 0.98
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includes 11.89 16.51 4.62 1.55
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includes 88.53 89.47 0.94 22.50
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KAN-10-02 2.03 3.66 1.63 1.89
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KAN-10-03 2.86 29.53 26.67 0.21
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includes 4.46 5.26 0.80 3.36
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KAN-10-04 8.88 13.09 4.21 2.16
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KAN-10-05 7.70 10.36 2.66 1.37
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KAN-10-06 20.56 28.50 7.94 0.79
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includes 26.15 27.60 1.45 7.48
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KAN-10-07 3.54 16.77 13.23 1.80
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includes 7.38 16.77 9.39 2.26
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includes 10.72 11.23 0.51 31.38
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KAN-10-11 17.10 25.01 9.32 1.18
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includes 17.10 19.76 2.66 2.60
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KAN-10-12 67.83 69.01 1.18 6.14
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The reported widths are close to true widths, although some of the gold mineralization occurs in quartz veins. Drill hole KAN-10-13 was terminated prematurely due to drilling difficulties.
Kanosak Prospecting Results:
Prospecting of the Kanosak Gold Prospect during 2010 continued to outline new areas of gold mineralization. The 2010 work extended the mineralized trend as gold mineralization and associated arsenopyrite was observed on surface between the Kanosak Main Zone and the North Zone. Fifteen grab samples were taken with five of the samples returning assay values that range from 1.30 g/t to 226.3 g/t gold. The highest grade sample was taken from an area of outcrop, and contained abundant visible gold. This mineralized area is particularly significant as it indicates that gold mineralization could be extensive in this poorly exposed area.
Arsenopyrite containing gold occurrences was observed primarily in outcrop 500 metres to the northeast of the Kanosak North Zone. Twelve grab samples were taken with five of the samples returning assay values ranging from 1.17 g/t to 5.35 g/t gold. This mineralization is significant since it corresponds to a northeast trending, 300 metre wide by 1,800 metre long anomaly defined by the recently completed IP survey. Moderate to very strong chargeability values 2 to 3 times stronger than the targets drilled this season define this anomaly.
Two other zones of arsenopyrite mineralization carrying gold were discovered both to the east and to the southwest of Kanosak. Sixty grab samples were taken with thirteen of the samples returning assay values that range from 1.23 g/t to 9.68 g/t gold.
The location of these newly discovered zones is shown on a map on Commander Resources' website at the following link: www.commanderresources.com.
The 2010 program is being funded by AngloGold Ashanti as part of the joint venture agreement announced in September, 2009. The program has been managed and overseen by Mr. Alan Sexton, P.Geol., of GeoVector Management Inc. Mr. Sexton is the Qualified Person, as defined by National Instrument 43-101, for this project, and has approved the technical information in this news release. The QA/QC protocol is managed by GeoVector as detailed in the company's News Release of August 19, 2010.
On Behalf of the Board of Directors,
Eric Norton, President & CEO
Shares Issued: 90,942,516
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts:
Commander Resources Ltd.
Cathy DiVito
Investor Relations
(604) 484-7111 or Toll-free: 1-800-667-7866
info@commanderresources.com
www.commanderresources.com