TORONTO, ONTARIO--(Marketwire - Jan. 9, 2012) - Alder Resources Ltd. ("Alder") (TSX VENTURE:ALR) is pleased to announce that it has filed on SEDAR (www.sedar.com) a National Instrument 43-101 Technical Report entitled "Technical Report on the Copper-Gold-Silver Porphyry/Skarn Project at the Rosita D Concession" and dated January 5, 2012.
Joseph Arengi, President and CEO of Alder, stated: "We are very pleased to be able to present a document that will serve as a solid reference point for our Rosita asset. The abundance of historic copper, gold and silver mineralization on the property and obvious quality targets will provide, in management's opinion, a great chance for Alder to quickly build value for our shareholders."
The Technical Report was prepared for Alder by Mr. Geoffrey S. Carter, P. Eng., who is a Principal of Broad Oak Associates, independent of Alder and a qualified person as defined in National Instrument 43-101 ("NI 43-101").
The Rosita Project
Alder has entered into an option agreement to acquire from Calibre Mining Corp. a 65% interest in the Rosita D concession (as disclosed in a press release issued by Alder on August 22, 2011), which hosts the historic open pit Santa Rita copper-gold-silver deposit from which 5.37 million tonnes of ore grading 2.06% copper, 0.93 g/t gold, and 15.08 g/t silver was extracted. The mine closed in 1975 due to low copper prices. Alder's management believes that a substantial amount of copper-gold-silver mineralization lies both below and adjacent to the Santa Rita pit. Recent 1 metre vertical channel sampling at the mine dumps returned individual channels with average values of up to 2.27% total copper, 1.76% soluble copper, 2.37 g/t gold and 24.60 g/t silver. The average grades for the 17 sample traverses are 0.55% total copper, 0.28% soluble copper, 0.47 g/t gold and 8.73 g/t silver with traverse lengths of between 5 and 36 metres. Historic drilling below the Santa Rita pit returned intercepts that included 2.27% copper, 0.21 g/t gold and 30.85 g/t silver over 16.7 metres true width at a vertical depth of 225 metres below the assumed base of the pit. The mineralization at the Rosita deposit is open to depth and along strike.
The Bambana prospect, located four kilometres northwest of the Santa Rita open pit, returned historic intercepts of up to 0.43% copper and 6.54 g/t silver over 42.0 metres and 0.51% copper, 0.25 g/t gold and 10.41 g/t silver over 11.5 metres in two diamond drill holes completed in 2010. A review of this area by Alder confirmed copper porphyry-style alteration and sulphide mineralization.
Alder has started a 5,000 metre reverse circulation drill program with 1,100 metres allocated to characterizing grade and geometry of the old mine dumps. Subsequent drilling will test high priority targets around the old Santa Rita and R-13 pits. Alder plans to use the results of this initial work to develop an aggressive drill program that will be designed to lead to a resource estimate.
Alder has not yet done sufficient work to verify the historic drill results reported in this news release and does not intend to use this information for purposes other than planning and prioritizing exploration targets.
Joseph Arengi, M. Sc., P. Geo., President and Chief Executive Officer of Alder and a qualified person under NI 43-101, has reviewed and approved the scientific and technical information in this news release.
About Alder Resources Ltd.
Alder is a resource company focused on the development of gold and base metal projects throughout Latin America. Current focus is on the Rosita project in Nicaragua located 275 km northeast of Managua. Alder will continue to build its property position with strategic acquisitions.
Alder Resources Ltd.
Joseph Arengi, President & CEO
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding statements regarding potential mineralization, reserve and resource determination, exploration results and future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Alder, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Alder has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Alder does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FOR FURTHER INFORMATION PLEASE CONTACT:
Alder Resources Ltd.
President & CEO
Source: Alder Resources Ltd.