Caldera Joint Ventures Two Exploration Licences with WMC Resources Ltd in Collurabbie Region of Western Australia.SOUTH PERTH, Western Australia This article is about an inner southern suburb of Perth. For the local government area, see City of South Perth. South Perth is an inner southern suburb of Perth, Western Australia, immediately opposite the central business district of Perth on the -- Caldera Resources Inc. (the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CDR (1) See CD-R and extension. (2) (Call Detail Reporting) See call accounting. (3) (Common Data Rate) A standard sampling rate for digital video for 480i and 576i systems. The rate is 13.5 MHz. See ITU-R BT. ) is pleased to announce that the Company, together with SouthernEra Diamonds Inc. (TSX:SDM SDM - Schematic Data Model ), have entered into a joint venture agreement with WMC Resources Ltd (WMC WMC Winter Music Conference WMC Weill Medical College (Cornell University) WMC Wisconsin Manufacturers and Commerce (Madison, WI) WMC Westchester Medical Center WMC Western Mining Corporation ) on two Exploration Licences which cover an area of 156 square kilometres in the north eastern goldfields of Western Australia. These licences, which are known as the Yelma Joint Venture, are located 25 kilometres northwest and 50 kilometres north of WMC's Collurabbie Project which WMC considers to have potential for a new nickel/platinum province. WMC is currently the subject of a takeover offer by BHP Billiton Limited. This WMC greenfields project covers more than 500 square kilometres of the northern extension of the Archaean Gerry Well Greenstone Belt. The first deep diamond drill holes in a WMC/ Falcon Minerals Ltd. joint venture at the southern end of the Collurabbie Project have intersected disseminated and massive sulphide mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. in an ultramafic unit, containing 1.0% - 3.67% nickel, 0.13% - 3.12% copper and 1.12 - 7.78 grams per tonne total platinum group metals (PGMs). These results which have been reported by Falcon Minerals Ltd., ("Falcon") represent nine intersections from seven diamond drill holes, and two reverse circulation drill holes. They include a down hole length(1) of 12.86 metres from 131.65 metres which assayed at 1.33% nickel, 0.95% copper and 2.55 grams per tonne total PGMs ((1)down-hole length; true width is approximately 75% of the quoted down hole length). These drilling results were reported by Falcon Minerals Ltd. to the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. on 17 August 2004, 10 November 2004 and 3 December 2004. The Yelma JV partners consider the Exploration Licence which is located 15 kilometres west of WMC's Collurabbie tenements, and 25 kilometres northwest of the WMC /Falcon ground, to have potential to host ultramafic units and possible sulphide mineralization. The 400 metre line-spaced aeromagnetic data for this Exploration Licence area suggests that the potential zone of ultramafic lithologies has a strike length of up to 20 kilometres. Caldera and SouthernEra Diamonds applied for the two Exploration Licences based on regional airborne magnetic data which suggests that the ground covered by the Exploration Licences had potential for kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. pipes. A limited loam loam, soil composed of sand, silt, clay, and organic matter in evenly mixed particles of various sizes. More fertile than sandy soils, loam is not stiff and tenacious like clay soils. Its porosity allows high moisture retention and air circulation. sampling program which was completed by Caldera and SouthernEra at the Exploration Licence located 25 kilometres northwest of WMC's Collurabbie Project has produced chrome spinels. Scanning electron microprobe analysis of these chrome spinels at CSIRO CSIRO Commonwealth Scientific & Industrial Research Organization (Australia) in Perth suggests an ultrabasic ul·tra·ba·sic adj. Containing magnesium and iron and only a very small amount of silica. Used of igneous rock. ultrabasic Containing magnesium and iron and only a very small amount of silica. source other than kimberlite. The loam samples were processed by Diatech and Western Geolab, both of Perth, Western Australia This article is about the metropolitan area of Perth, Western Australia. For the local government area, see City of Perth. Perth is the capital of the Australian state of Western Australia. . A petrological examination of four rock samples collected during 2002 from the Exploration Licence 50 kilometres north of the WMC/ Falcon ground , has identified them as being possible silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. and ferruginised ultrabasic cap rocks which may have been serpentinised ultrabasic rocks. The petrology petrology, branch of geology specifically concerned with the origin, composition, structure, and properties of rocks, primarily igneous and metamorphic, and secondarily sedimentary. was completed by Mintek Services of Sydney during 2002. Under the terms of the agreement, WMC will have a two month evaluation period, after which they may withdraw or elect to earn a 75% interest in the licences by expenditure of A$500,000 over a three year period. The interest held by Caldera and SouthernEra would then be deemed to be 12.25% and 12.75% respectively. Having earned a 75% interest, Caldera's equity, would be free carried in the project to the point of decision to commence mining operations. At the decision to commence mining operations, Caldera may elect to share costs of future development expenditure or convert the equity to a royalty of 0.5% on all recoverable metals derived from the project. Caldera is very pleased to be associated with WMC in the greater Collurabbie Project which is rapidly developing into a very exciting Cu-Ni-PGE discovery with considerable potential. Martin Jackson, a member of the Aus.I.M.M is the qualified person responsible for the technical information in this news release. This agreement is subject to approval by the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . Other Activities. Caldera is engaged in diamond exploration in Australia through five projects. Two projects are located in the Pilbara region of northern Western Australia, one of which is joint ventured with Mr. Ronald Winston of Harry Winston Inc. The Company also has two projects located adjacent to the Ellendale Lamproite Field in the Kimberley region of Western Australia. Both of these projects are also joint ventured under separate arrangements with Mr. Ronald Winston. One project is located on the Yilgarn Craton of Western Australia which is joint ventured with SouthernEra Diamonds Inc. (SDM:TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ). Caldera also has four base metal/gold projects in South Australia. One of these projects is the Mt. Carulina Project which is an Olympic Dam - style base metal/gold target. CAUTIONARY STATEMENT No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Caldera, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. Important factors that could cause actual results to differ materially from Caldera's expectations are exploration risks detailed herein and from time to time in the filings made by Caldera with securities regulations. Canada Suite 3100 40 King Street West Toronto. Ontario. M5H 3Y2 Telephone: 416-865-6605 Facsimile: 416-865-6636 Website: www.calderares.com Australia 1 Charles Street Suite 8 South Perth. Western Australia. 6151 Telephone: 011-618-9367-7728 Facsimile: 011-618-9367-7705 E-mail: calderares@bigpond.com Cusip: 1287D 105 Caldera Resources Inc. (TSX:CDR) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion