Alder Receives IP Survey Results and Provides Drill Update
November 17 2010 - 7:00AM
Marketwired
Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE: ALR)
is pleased to announce that it has received the final
interpretation of the results of the induced polarization ("IP")
survey conducted over the prospective areas of La Montanita project
,located in Colombia. Interpretation of the results indicate at
least ten anomalies that are coincident with areas of historical
artisanal underground and surface workings. These anomalies
delineate a prospective area of approximately 300 by 400 metres.
Please refer to Figure 1 for an example of the anomalies detected
as a result of the survey.
William Randall, VP Exploration, commented, "We believe the
positive results of the IP survey are an excellent indicator of
gold mineralization on the project. We now have a series of
anomalies to target during the drill program as well as hundreds of
metres of underground artisanal workings that have now been traced
to depths of over 30 metres below surface. We are looking forward
to receiving the first results of the drill program."
Rene Bharti, President and CEO, added, "The drill program is
progressing well. Four diamond drill holes have been completed to
date with a fifth underway. Assay results from the first holes are
expected within 20 days."
The IP survey was completed by MIBEX (Mining Business and
Exploration), a geological services company with offices in Bogota,
Colombia. Interpretation of these results was also carried out by
the same contractors.
Will Randall, a Director of the Company and a qualified person
under NI 43-101, has reviewed and approved the scientific and
technical information contained in this press release.
About Alder Resources
Alder Resources is a Colombian-based company focused on gold
development at its La Montanita property 40 km northeast of
Medellin, as well as accretive acquisitions in the area. The La
Montanita property is approximately 80 km from Continental Gold's
Buritica asset. The Company also holds an option to acquire a 60%
interest in Cariboo Rose's Canadian Creek Mineral Property located
in the Whitehorse Mining District of the Yukon Territory, which is
160 km south of Dawson City, Yukon.
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 the IP survey, the anticipated timing with
respect to the drill results, statements made with respect to the
drill program being conducted with respect to the property, , the
property, mining in Colombia, statements with respect to the
development potential and timetable of the property of the Company;
the potential to identify mineral resources; the timing and amount
of estimated future exploration, success of mining activities; and
receipt of government approvals. 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 the Company 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 the Company 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. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
To view Figure 1, please click on the following link:
http://media3.marketwire.com/docs/a1116.pdf
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.
Contacts: Alder Resources Ltd. Rene Bharti President and CEO
(416) 861-5913 rbharti@alderresources.ca www.alderresources.ca