Cadan Completes a Geophysical Airborne Survey Over Its 9000ha Comval and 2,500ha T'Boli Properties
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/21/11 -- CADAN RESOURCES CORPORATION (TSX VENTURE: CXD)(FRANKFURT: AOMZ.25) ('Cadan' or the 'Company') announces that a geophysical helicopter survey has been completed over Cadan's 9000ha Comval and 2500ha T'Boli properties. This survey measured magnetic and radiometric responses.
The purpose and expectation from this survey is to provide signature responses over known porphyry copper and stockwork gold mineralization at Comval and to thus define unknown targets within the 9000ha. Ongoing field mapping has defined surface copper and gold mineralization over a wide area at Comval, but exposures are limited to deeply incised creeks. Undoubtedly, copper mineralization exists in the much larger areas between the creeks and will be defined by the Airborne survey.
Radiometrics is known to define areas of stockwork gold mineralization in other parts of the Philippines.
At T'Boli, a porphyry copper province is recognized by the proximity of Xtrata's 2.4 billion tonne Tampakan deposit. The T'Boli developing epithermal gold mine would normally be related to a parent porphyry copper deposit. The helicopter survey will assist in locating such a parent.
The results of the survey are currently being compiled and will be available later next month.
Grant of Options
The Company wishes to grant up to an aggregate of 750,000 stock options at an exercise price of $0.45 to Employees and Consultants of the Company. It further advises that it had only issued 450,000 of the 2,975,000 previously announced on April 19, 2011.
Qualified Person and Quality Control and Assurance
Technical aspects of this news release were prepared and verified by William Donald Goode, a member of the AusIMM and Technical Director of Cadan Resources. He is the qualified person as required by NI 43-101, and is the technical person responsible for this news release. The qualified person has verified the data disclosed in this news release.
On behalf of the board of directors,
Robert Butchart, President / CEO
Forward Looking Statements
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with planned production, including the ability of the Company to achieve its targeted production outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through www.cadanresources.com or the Company's page on SEDAR at http://www.sedar.com.
Neither the 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.
Contacts:
Cadan Resources Corporation
Robert Butchart
President / CEO
butch@cadanresources.com
Cadan Resources Corporation
John D. Anderson
Chairman
janderson@cadanresources.com
Cadan Resources Corporation
info@cadanresources.com
www.cadanresources.com