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CMD Commander Resources Ltd

0.075
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Commander Resources Ltd TSXV:CMD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.075 0.075 0.08 0.075 0.075 0.075 1,000 00:00:00

Commander's Partner Receives Encouraging Hammerdown Report

04/11/2011 6:00pm

Marketwired Canada


Commander Resources Ltd. (TSX VENTURE:CMD) report that its partner Maritime
Resources Corp. (TSX VENTURE:MAE) has received a report from CAE Mining Corp.
(formerly Datamine) identifying a preliminary estimate of gold mineralization
that remains at their jointly held formerly producing Hammerdown mine located
near Springdale, Newfoundland. As per Maritime's news release dated August 31,
2011, Maritime engaged CAE to prepare an estimate of resources remaining at the
formerly producing Hammerdown mine utilizing historic drill and mining records.
Maritime is encouraged by the estimate that has been received and has decided to
proceed with producing a NI 43-101 compliant Technical Report. 


As commissioned, CAE prepared a theoretical model of the formerly producing
Hammerdown mine incorporating 626 surface and underground diamond drill holes
totalling 60,560 metres of drilling and containing 1,271 composite assays. A
wireframe model was constructed of the original veins using the drill data.
Using historic mine records, the mineralization contained in the mined out
stopes was removed from the conceptual mineralized deposit. A theoretical block
model was constructed of the remaining mineralization and various grade-tonnage
alternatives were derived. 


The range of potential mineralization remaining at Hammerdown is estimated by
CAE to range from 1,800,000 tonnes grading 8.3 g/t Au at a possible 1.0 g/t Au
cut off, to 675,000 tonnes grading 16.6 g/t Au using a possible 7.0 g/t Au cut
off. This would result in a possible mineralized deposit ranging from 360,000 to
480,000 ounces of gold remaining at Hammerdown. The potential quantity and grade
is conceptual in nature and, in accordance with NI 43-101 guidelines, it is
uncertain if further exploration will result in the target being delineated as a
mineral resource.


Eric Norton, President and CEO of Maritime, states: "This information has been
invaluable for Maritime's planning purposes and is so encouraging that it is a
logical decision to request a NI 43-101 Technical Report be prepared. With the
underground workings still in place we will continue to investigate possible
scenarios to recover the remaining gold." 


The Green Bay gold property, including the Hammerdown and Orion deposits, is
held jointly by Maritime Resources (50%) and Commander Resources (50%). Maritime
is the Operator. The Hammerdown mine operated from 2000 to 2004, while gold
prices averaged $325/oz. During its operation a total of 315,000 tonnes of ore
were extracted, at an average grade of 16.1 g/t Au, yielding a total of 157,000
ounces of gold.


Commander Resources would like to acknowledge the support of the Government of
Newfoundland and Labrador in the form of financial assistance of the 2011
drilling campaign by the Junior Exploration Assistance Program.


Bernard Kahlert, P.Eng. is the Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the technical disclosure
contained in this release.


On Behalf of the Board of Directors,

Eric W. Norton, President & CEO

Certain information set forth in this news release may contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, which are beyond the control of the Company, including, but not
limited to, risks associated with mineral exploration and mining activities, the
impact of general economic conditions, industry conditions, dependence upon
regulatory approvals, and the uncertainty of obtaining additional financing.
Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.


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