Caldera Resources Inc.: Additional High Interest Chrome Spinels Recovered From Runton Drill Program.SOUTH PERTH, Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. Other important cities are Kalgoorlie, a gold-mining center; Fremantle, the chief port; and Bunbury, a port S of Perth. -- Caldera Resources Inc. (TSX:CDR) is pleased to provide shareholders with an update on progress at its two diamond projects that are located in the Paterson Mobile Belt of the Pilbara region in Western Australia. Runton Diamond Project - 100% owned Further encouraging mineralogical results have been received from drill material obtained from the 2004 drill program, which tested a low amplitude dyke-like anomaly, several kilometres long and up to 200 metres wide. Dr. Wayne Taylor has reported that chrome spinels spinel, magnesium aluminum oxide, MgAl2O4, a mineral crystallizing in the isometric system, usually as octahedrons. It occurs as an accessory mineral in basic igneous rocks, in aluminum-rich metamorphic rocks, and in contact-metamorphosed limestones. Common spinel usually ranges in color from dark green to brown or black, but transparent red, blue, and green varieties are found and are used as gemstones; Myanmar and Sri Lanka are the which have been recovered from two previously untested depth intervals, 64-66m and 71-72m, of drill-hole R2-2, are of high interest and their compositions resemble kimberlitic spinels. This opinion confirms the findings of Caldera's consultant, Martin Jackson, who also considers the previously reported chrome spinels to be of high interest, the majority of which are indicative of a diamond stability field source. Additional chrome spinels have also been recovered from a composite sample collected from 46-90m in the same drill hole. A pyroxene pyroxene (pī`rŏksēn), name given to members of a group of widely distributed rock minerals called metasilicates in which magnesium, iron, and calcium, often with aluminum, sodium, lithium, manganese, or zinc occur as X in the chemical formula XSiO3. with an inclusion of perovskite, a mineral commonly found in kimberlites and some lamproites, has been recovered from 64-66m. During November and December 2004, the Company reported the recovery of one pale yellow micro-diamond from a 4.4 kg caustic fusion sample obtained from 88-90m, and high interest chrome spinels from 46-48m and 88-90m, in drill-hole R2-2. The chrome spinel chemistry suggests that the majority have been sourced from the diamond stability field. Modeling of 200m line-spaced aeromagnetic data by Barrett Geophysical Exploration Consultants indicates a minimum depth extent of 600 metres and almost vertical inclination for the anomaly drilled. Hole R2-2 was completed to a depth of 91 metres and the Company plans to complete a deeper drill program during 2005 to intersect fresher material. The drill material recovered at 91 metres is too fine for petrological identification. The intersection of "fine-grained" material from which abundant chemically high interest chrome spinels and micro-diamond have been recovered, suggests the possible presence of crater facies 1. the face. 2. surface; the outer aspect of a body part or organ. 3. expression (1). Potter facies the characteristic facial appearance seen with oligohydramnios sequence, including a flattened nose, receding chin, wide interpupillary space, and large low-set ears. material forming part of a large
and deep intrusive complex.All drill samples have been processed by Diatech and Western Geolab, both of Perth, Western Australia, and electron microprobe analysis has been completed at the University of Western Australia. The caustic fusion sample was processed by Striker Resources' laboratory in Perth. Caldera continues to investigate the merits of joint-venturing this project, which covers an area of 200 square kilometres, or to retain 100% project ownership. Cromer Cone Diamond Project - Caldera 50%/ Mr. Ronald Winston 50% This project adjoins the Runton Project to the south and west, and is held 50% by Caldera and 50% by Mr. Ronald Winston, Chairman of Harry Winston Inc., on an equal contributing basis. A further three Exploration Licence's covering 600 square kilometres, which adjoin the Runton Project to the south, will be incorporated into the Cromer Cone Project to give a project area of 1,750 square kilometres. A 100 metre infill airborne magnetic survey will be completed in the second quarter of 2005 over areas identified from the 400 metre line-spaced aeromagnetic survey of 2004 as having potential to contain kimberlite or lamproite intrusives. This high resolution survey will provide the necessary definition of magnetic anomalies to complete a sampling program, and subject to positive results, a drill program. The Paterson Orogen is a Proterozoic mobile belt setting, which is considered to be analogous to the Halls Creek Mobile Zone of Western Australia, and which hosts the Argyle Diamond Mine, a 47 hectare olivine lamproite pipe. The recovery of diamond and abundant spinels of interpreted diamond association from drilling at Runton, suggests the broader region to be highly prospective for kimberlites and lamproites. Martin Jackson, a member of the Aus.I.M.M is the qualified person responsible for the technical information in this news release. 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. (TSX:SDM). 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) |
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