Alder's Canadian Creek Yukon Drilling Underway
September 24 2009 - 11:52AM
Marketwired Canada
Alder Resources Ltd. (TSX VENTURE:ALR) is pleased to update information on the
exploration program on its optioned Canadian Creek Property. The Canadian Creek
property is located in the Whitehorse Mining District of the Yukon Territory 160
km south of Dawson City. The property is also 50 km southeast of the Underworld
Resources Inc. owned White Gold project and approximately 25 km southeast of
Kaminak Gold Corp.'s Coffee property.
A drilling program, to total approximately 1,500 metres, has been initiated and
is expected to be completed in the next one to two weeks. The drill program is
targeting a 4.0 km long trend of strong gold and arsenic soil anomalies that are
500 m to 1.5 km long (see news release dated Sept. 10/09) as well as geophysical
targets outlined by IP chargeability highs.
An additional 35 claims (733 hectares) have been staked which tie on to the
north of the Canadian Creek property. These claims were staked in order to cover
a possible extension of newly discovered soil and IP Chargeability anomalies.
This expands the property size to 5,533 hectares.
A grab sample taken from a pyritic, quartz-bearing shear on the Ana claims
returned 2.5 g/t gold and is associated with arsenopyrite. This area lies within
a northeast trending soil gold anomaly that is approximately 1.2 km south of the
newly gridded gold-arsenic anomaly described above. This area forms an
additional target for future work.
Alder can earn a 60% interest in the Property by making cash payments totaling
$250,000 and issuing 250,000 shares to Cariboo Rose, and fulfilling exploration
expenditures on the property totaling $2,500,000 by June 18, 2013.
G.L. Garratt, P. Geo., who is a qualified person within the context of National
Instrument 43-101, has read and takes responsibility for this news release. Bob
Johnston, P. Geo., also a qualified person within the context of National
Instrument 43-101, is supervising the project work in the field.