Caledonia Acquires Additional Properties Adjoining its Rooipoort 'PGE-Au-Ni-Cu' Project, South Africa, virtually doubling the Rooipoort Project area.TORONTO -- Caledonia Mining Corporation ("Caledonia") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CAL)(NASDAQ-OTCBB:CALVF)(AIM:CMCL CMCL Cedar Mill Community Library (Portland, OR) ) is pleased to announce that it has concluded an agreement, on behalf of its wholly owned South African subsidiary company Eersteling Gold Mining Company Limited ("EGMC"), with Falconbridge Ventures of Africa (Pty) Ltd ("Falconbridge") (a subsidiary of Falconbridge Limited), to acquire a 100% interest in Falconbridge's prospecting rights covering the farms Moordrift 289KR, Jaagbaan 291KR, and portions of Grasvally 293KR, a total area of 4,315.81 hectares. Eersteling's current rights cover 4,404.84 hectares on Rooipoort 46KS and portions of Grasvally 293KR (Fig. 1). This acquisition effectively doubles the area of Caledonia's Rooipoort Project underlain un·der·lain v. Past participle of underlie. by Bushveld bushveld Noun S African bushy countryside [Afrikaans] Complex rocks with proven PGE PGE Pacific Gas and Electric Company PGE Portland General Electric PGE Prostaglandin E PGE Platinum Group Elements PGE Pacific Great Eastern (Railroad) PGE Phenyl Glycidyl Ether PGE Perfect Girl Evolution potential. Highly Prospective PGE Terrain: These properties are situated at the southern end of the highly prospective north limb of the Bushveld Complex, some 50km south of the Anglo Platinum Anglo Platinum ltd is the world's largest primary producer of platinum, accounting for about 38% of the world's annual production. The company, based in South Africa, was previously called "Anglo American Platinum Corporation Limited". open pit mining operation on the Platreef. Intensive exploration is being conducted along the entire length of this 110km prospective zone by a number of companies, viz. AfriOre, Anooraq, Pan-Palladium, Ivanhoe Nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. & Platinum, PTM PTM Post-Translational Modifications PTM Porsche Traction Management PTM Point-To-Multipoint PTM Please Tell Me PTM Packet Transfer Mode PTM Pulse-Time Modulation PTM Portugal The Man (band) PTM Predictive Technology Model and AIM Resources. The Moordrift, Jaagbaan and Grasvally farms adjoin the western and southern boundary of Caledonia's Rooipoort (PGE/Au/Ni/Cu) Project area and contain the down dip extension of PGE/Ni/Cu 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. that was recently discovered by Caledonia on the western side of Rooipoort farm (Central Target Area) (Fig. 2). (Also please see Caledonia website Project Status Report dated December 9 2005 and the NI 43-101 Independent Resource Report on portion of the mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. , 6 1/2 kilometre long, Eastern Target Area (see Figure 1). Falconbridge conducted limited exploration drilling (see Table 1 for details of 3 holes) on the Rooipoort boundary and on Grasvally and intersected the down dip extension of the mineralisation intersected by Caledonia, described above.
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Table 1: Falconbridge Borehole Composites :
Western Target Area (Fig 2)
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MR? equals Merensky like reef
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UG? equals UG2 like reef
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SND equals Stratigraphy not determined
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Intercepts greater than 0.5g/t 3E + greater than 1.0m
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na equals Not Assayed
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Min-
era-
Drill- li-
ed 3E Pt Pd Au Ni Cu Cr sed
Hole id From To width g/t g/t g/t g/t ppm ppm ppm Zone
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GV02-1 170.50 171.50 1.00 1.30 0.25 0.97 0.08 na na na SND
206.48 208.67 2.19 2.39 1.03 1.14 0.23 2113 1961 na MR?
GV02-2 476.31 478.97 2.66 0.96 0.42 0.49 0.05 890 1357 na UG2?
MD03-1 535.00 536.50 1.50 0.60 0.13 0.45 0.02 na na na SND
550.85 553.17 2.32 1.49 0.74 0.60 0.16 1742 1066 na SND
563.50 564.74 1.24 0.99 0.36 0.59 0.05 1800 790 na SND
566.37 573.91 7.54 2.22 0.94 1.13 0.15 2223 1654 na MR?
581.95 583.95 2.00 1.47 0.52 0.86 0.09 2184 1640 na SND
Plus Previously Unknown PGE Reef ("321 Reef") Falconbridge also drilled a further 19 holes focused on an additional PGE mineralised horizon situated to the west of this earlier drilling (Western Target Zone). The location of these holes (see Figure 2), and the results of this drilling can be found in the Investor Centre on the Caledonia website (www.caledoniamining.com) under Technical Reports, in the document titled "Rooipoort PGE/Au/Ni/Cu Project - Falconbridge Property Acquisition - Drilling Results" This reef horizon is characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by a highly favourable approximately 3:1 Pt: Pd ratio. Falconbridge concentrated on following up their best intersection in hole MD03-02 (6.86 m @3.38g/t Pt; 1.23 g/t Pd; 0.57 g/t Au; 0.23% Ni; and 0.29% Cu) as a probable conformable structure. Caledonia's interpretation of rock alteration and of the aeromagnetic data indicates the possibility of more irregular vertical "ballroom type" structures that could have been missed by Falconbridge vertical drilling for a planar A technique developed by Fairchild Instruments that creates transistor sublayers by forcing chemicals under pressure into exposed areas. Planar superseded the mesa process and was a major step toward creating the chip. west dipping reef. Caledonia is planning to evaluate the near surface, up-dip extensions of this mineralization on the Rooipoort and Grasvally properties with the initial aim of delineating an open pit resource as soon as the necessary permits have been granted by the South African authorities. This property and data acquisition opens up an extensive new target area of PGE mineralisation and greatly enhances the potential economic viability of Caledonia's Rooipoort PGE/Au/Ni/Cu Project by more than doubling the area underlain by highly prospective PGE/Au/Ni/Cu mineralised stratigraphy stratigraphy, branch of geology specifically concerned with the arrangement of layered rocks (see stratification). Stratigraphy is based on the law of superposition, which states that in a normal sequence of rock layers the youngest is on top and the oldest on the already identified by drilling Application to the South African authorities to transfer the Falconbridge rights to Eersteling will commence immediately. Further information regarding Caledonia's exploration activities and operations, along with its latest financials may be found at www.caledoniamining.com. Certain statements included herein are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ". Management cautions that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause the actual results of operations, exploration or development programmes, or the financial condition of the Company, to differ include, but are not necessarily limited to, the risks and uncertainties discussed in documents filed by the Company with the various regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities having jurisdiction. NOTE: There are Figures available on CCNMatthews' website at: http://www.ccnmatthews.com/docs/calfig1.doc http://www.ccnmatthews.com/docs/calfig2.doc Caledonia Mining Corporation (TSX:CAL) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :CALVF) (AIM:CMCL) |
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