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Cours Or & Argent

Commander Resources Ltd.

Publié le 03 juin 2011

Options Gold Property in the Yukon

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Commander Resources Ltd.



  Thursday, June 02, 2011
Commander Options Gold Property in the Yukon

 
VANCOUVER, June 2, 2011 - Commander Resources Ltd. (TSX-V: CMD) ("Commander") has negotiated an option agreement, for a package of claims located in the Little Highland River Valley, Watson Lake mining district in the Yukon (the "Property"). Recently, this region has seen a great deal of gold exploration activity following the success of the 3Ace property, owned by Northern Tiger, which is situated immediately south of Commander's new claims. 2010 reported drill results on the 3Ace property included intercepts of up to 14.8 g/t gold over 10.9 m, including 145 g/t over 1.05 m.

The package of 127 claims is owned by a prospector syndicate based out of Whitehorse. In addition, Commander Resources has added another 150 claims to the area, for a total package of 277 claims, covering approx. 5,800 ha over a 20 km strike extent. The project area will be known as the Glenmorangie property.

"We have been assessing several opportunities to gain a position in the Yukon gold region and this property package is very attractive due to its accessibility and location in a known gold bearing trend." states Eric Norton, President and CEO of Commander.

Under the terms of the option agreement, Commander has an option to earn a 100% interest in the Property through the staged issue of 840,000 shares, staged cash payments of $147,000 and a total exploration expenditure of $500,000 over four years. The NSR terms are 2% plus an advance smelter return of $12,000 per year, with an option to buy down to 1% NSR, each half per cent costing $1 million. The first year's commitment calls for $125,000 of exploration, issuance of 300,000 shares and cash payments of $27,000. The agreement is subject to Board and TSX Venture Exchange approval.

The area has been explored with funding from the Yukon Mining Incentive Program (YMIP) for the past two seasons. Gold was first discovered on the adjacent Culvert claims, now owned by Hinterland Minerals. The main showing is located 1.5 km from Commander's claims and along trend. Stream sediment, soil sampling and rock chip sampling programs have been carried out with highlights of the rock chip program shown in the following table:

Rock Chip Sampling

Sample ID

Au - ppb

Sample ID

Au - ppb

RS10A

139

RS14

365

RS15

107

RS 18

205

RS 35

924

RS 36

1,485

RS 43

748

RS 44

442

RS61 A

430

RS61 B

265

RS 61C

266

RS 63

877


Work on the Property is preliminary but research to date has shown a strong correlation between gold and arsenic values.

The Property is located in the Selwyn Basin and consists of phyllites and shales of the Hyland Group and Vampire formation. Intruding the metasediments are younger cretaceous aged stocks and plutons, which are possible mineralizing events. The Little Highland River Valley is dominated by a major structural feature called the March fault and bounded to the north by the Dawson fault, and to the south-west, by the Tintina fault. The Tintina fault and associated splays have become synonymous with gold finds and the significance of this major tectonic event is still being studied. Mineralized quartz veins have been found on the Glenmorangie property and could either be associated with faulting events or with an underlying Cretaceous aged intrusion, or both. The area has been glaciated and therefore the valleys are filled with glacial debris. Good rock exposure is found at higher altitude.

Commander is planning a summer exploration program of prospect mapping, stream sediment sampling, soil grid sampling and trenching. The work program will be designed with the intention of following up with a drill program next year. The Property is easily accessible from the Nahanni Range Road and by ATV trails. Commander is well financed for this season's work program, having recently closed a flow through financing of over $2 million. For further information and a detailed location map, please visit our website at www.commanderresources.com.

Steve Potts, VP of Exploration will be the Qualified Person under NI 43-101 responsible for the exploration activities on the property.

On behalf of the Board of Directors,

Eric Norton
President & CEO

For further information, please call:
Investor Relations: Cathy DiVito, Investor Relations
Toll Free: 1-800-667-7866

www.commanderresources.com
Email: info@commanderresources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this news release.
 

�2011 Commander Resources Ltd. All Rights Reserved. | Disclaimer
Adnet Communications Inc.

Commander Resources Ltd.

EN DÉVELOPPEMENT
CODE : CMD.V
ISIN : CA2005021027
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Commander Res. est une société d’exploration minière d'argent et d'or basée au Canada.

Commander Res. est en développement de projets d'argent, d'or, de diamants et d'uranium au Canada, et détient divers projets d'exploration au Canada.

Ses principaux projets en développement sont HERMITAGE et BAFFIN ISLAND au Canada et ses principaux projets en exploration sont NEPISIGUIT-STEWART, OLYMPIC-ROB, LOCHINVAR, ORION GOLD, SABIN, STORM PROPERTY et DESPINASSY au Canada.

Commander Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 9,2 millions CA$ (6,8 millions US$, 6,2 millions €).

La valeur de son action a atteint son plus haut niveau récent le 24 mai 1996 à 1,40 CA$, et son plus bas niveau récent le 18 décembre 2015 à 0,01 CA$.

Commander Res. possède 115 300 000 actions en circulation.

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Dans les médias de Commander Resources Ltd.
30/03/2006Corporate profile
Rapports annuels de Commander Resources Ltd.
2007 Annual report
2006 Annual report
Financements de Commander Resources Ltd.
23/05/2011Closes Tranche 2 of Financing
12/04/2011Announces Private Placement Financing
Nominations de Commander Resources Ltd.
24/06/2008Announces Appointment of Director
Projets de Commander Resources Ltd.
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29/03/2012Provides Update on Storm Copper Property Deal
27/03/2012Completes Initial Drill Program at Stump Lake Gold Property
23/03/2012(Baffin Island)Retains 100% of the Baffin Island Project
10/02/2012Identifies Anomalous Gold Zones on Yukon Gold Property
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31/01/2012Sells Remaining Green Bay Property Interest to Maritime
26/01/2012(Baffin Island)Outlines Large I.P. Anomaly at Baffin Island Gold Property
15/12/2011(Storm Property)Closes Storm Property Deal
24/11/2011Signs $15 Million Option Agreement on Storm Copper Property
13/10/2011Commences IP Survey on Stump Lake Gold Property, BC
22/07/2011Commences Work on Yukon Gold Property
06/07/2011(Baffin Island)Mobilizes for 2011 Baffin Island Gold Program
14/06/2011Acquires New Gold Property In BC
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Communiqués de Presse de Commander Resources Ltd.
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11/07/2015Commander Amends Option of Glenmorangie Property
09/07/2015Commander Appoints Robert Cameron to the Board
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