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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kaizen Discovery, Inc. | TSXV:CCN | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
The property hosts Ag-Cu mineralization, and produced some five million ounces of silver between 1986 and 1997 from ore grading between 400-500 g/t Ag. Mineralization is hosted by a gently dipping, poorly consolidated, green conglomerate unit floored and capped by dark red mudstones and white sandstones respectively. The conglomerate unit was the primary target of previous mining, and four shallow open pits were developed - the North, Central, South, and West Pits. Mineralization is open along strike to both the north and south, as well as down-dip to the east within the gently dipping conglomerate unit.
The results received from the channel sampling range up to 4160 g/t Ag and 3.62% Cu (see table below), and the average unweighted values for channel samples collected from the Green Conglomerate Member are 657 g/t Ag and 0.66% Cu. By comparison, the previous channel sampling of the old workings by Cardero in 2003 returned values ranging up to 4064 g/t Ag and 3.97% Cu, and the average unweighted values from the Green Conglomerate Member were 506 g/t Ag and 0.46% Cu.
TABLE 1. Channel Sampling Results form Green Conglomerate Member ------------------------------------------------------------------------ SAMPLE LOCATION Ag (ppm) Cu (ppm) Pb (ppm) Zn (ppm) ------------------------------------------------------------------------ 1255 South Pit - Bench 3, C3 453 7180 4260 3680 1256 South Pit - Bench 5, C1 53.6 363 4670 6220 1257 South Pit - Bench 7, C3 402 3780 3210 5250 1258 South Pit - Bench 7 945 8630 3030 5660 1259 West Pit 1940 36200 7910 2360 1260 Central Pit 2380 17250 14200 3680 1262 Central Pit - South Face 698 5300 19150 1890 1263 South Pit - Bench 8 4160 16250 2460 3820 1266 West Pit 19.4 374 12350 3350 1267 Base of "Crud Hill" 204 2540 1100 4010 1268 North Pit - East Face 1280 13550 867 1270 1269 North Pit - East Face 470 5260 6600 1400 1270 North Pit - East Face 508 4460 6950 1500 1271 North Pit - West Face 518 5590 864 2760 1272 North Pit - West Face 159 714 613 1540 1273 North Pit - West Face 96.3 398 295 1440 1274 North Pit - West Face 5.38 27 281 1750 1275 North Pit - West Face 76.4 406 182.5 1610 4076 North Pit - West Face 768 10950 874 2420 4077 North Pit - West Face 16.1 22.4 247 1820 4078 North Pit - West Face 820 9800 338 1930 4079 Below West Pit 430 11800 679 2080 4081 West Pit 535 6490 4740 2650 4082 South Road Cut 149 3770 2520 3710 4083 South Hill- Lower Pit 12.1 290 14050 1870 4084 North Pit - South Face 645 7320 19400 3990 4085 Side of "Crud Hill" 0.62 22.5 697 843 ------------------------------------------------------------------------
Samples were dispatched via commercial transport to the ALS Chemex Laboratory in Mendoza, Argentina for analysis.
Meryllion has completed an environmental study and has received documented support from the two local communities for its exploration activities. The Company is now preparing for an initial program of approximately 3000 m of core drilling and has awarded the drilling contract. Drilling activities are expected to commence in early August.
Exploration at Providencia is being conducted under the supervision of Dr. Willem Fuchter PGeo, CEO of Meryllion and a Qualified Person as defined by Canada's National Instrument 43-101. The sampling was carried out under the direction of John Rice, VP Exploration for Concordia, and the contents of this release have been reviewed by Ms. Pamela Klessig, Director of Concordia and a Qualified Person.
ABOUT MERYLLION
Meryllion Minerals is a wholly owned subsidiary of Concordia with the charter to conduct mineral exploration in South America with a primary focus on precious and base metals. Meryllion operates out of offices in Buenos Aires under the direction of Dr. Willem Fuchter, PGeo, a PhD geologist with extensive international experience and a Qualified Person under NI 43-101.
ABOUT THE COMPANY
Concordia Resource Corp. is a mineral exploration company with property holdings in North and South America and Spain. The Company holds the Albisu gold discovery in Nevada, and is earning from Renaissance Gold Inc. a 70% interest in the Baza gold-copper project in Spain. Through its wholly owned South American subsidiary, Meryllion Minerals Corp, the Company is earning 100% of the historic La Providencia silver mine located in the Puna of northwestern Argentina and has also acquired an option to purchase the 14 000 ha Cerro Amarillo-Cajon Grande copper-gold property located in the Malargue District of Argentina. Concordia has its head office and executive management team in Vancouver, Canada; and its technical team is based in Reno, Nevada.
On behalf of the Board of Concordia Resource Corp.
R. Edward Flood, Chairman
Forward Looking Statements
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act, including the receipt of necessary permits to conduct exploration and construction, timing of anticipated exploration program, the number of the holes and meters to be drilled and future plans of the Company. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described in each management discussion and analysis. Forward-looking information is in addition based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of metals; appropriate equipment and sufficient labour and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information.
The TSX-V has neither approved nor disapproved the contents of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.
Contacts: Concordia Resource Corp. Karl Cahill VP, Investor Relations +1-858-531-6100 Concordia Resource Corp. Richard Roy Corporate Communications +1-604-628-7649 info@concordiaresourcecorp.com www.concordiaresourcecorp.com
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