La Quebrada Adit returns 87 meters of 3.18 grams per tonne gold over entire length (average width of 0.75 of a meter)
El Volcan Adit returns 17 meters of 7.68 grams per tonne gold over entire length (average width of 0.94 of a meter)
Volcan Arriba Adit returns 18 meters of 5.64 grams per tonne gold (see below) (average width of one meter)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 25, 2011) - Caerus Resource Corporation (News - Market indicators) ("The Company") is pleased to report further results from an ongoing exploration program at the
El Cafetal Gold Mine, located in Valparaiso District, Colombia. Work has included a surface Mobile Metallic Ion (SGS Laboratories Proprietary Process) sample program and a chip sample program within existing adits.
Over fifty adits and prospects have been identified throughout the property. Gold-silver mineralization occurs within a zone of generally east-west striking, vertical to steeply dipping, sub-parallel sulfide veinlets. This zone has been identified as a "stockwork" zone, and has been the focus of exploration by the Company. Historic and present mining has focused on locations where the veinlets intersect and form higher grade zones. The intent of the program was to confirm the potential for dissemination outside of the higher grade zones.
A recently completed MMI surface sample program identified a soil anomaly approximately 600 meters east-west by 300 meters north-south. The El Salto adit lies in the southern part of the "stockwork" zone, and was discussed in a press release on April 13, 2011. The La Quebrada, El Volcan and Volcan Arriba adits lie in the northern part of the "stockwork" zone. Complete results from the La Quebrada, El Volcan and Volcan Arriba adits have been received and evaluated. All results are in grams per tonne gold (gpt Au).
All sampling was completed by contract geologists under the supervision of Paul Pelke, a Qualified Person. MMI samples were analyzed by SGS Laboratories in Lima, Peru, an ISO 9001 certified laboratory. Rock samples were fire assayed by Inspectorate America Laboratory in Reno, Nevada, an ISO 9001 certified laboratory. All of the samples were channel samples across the back, including the vein, which according to the given results, is approximately 10 cm wide. The rest of the channel, which in total length ranged from 0.43 meters to 1.63 meters in length, consisted of wall rock. Channels were cut at 1 meter intervals across the back. Every three channels were combined to form one sample for submittal to the assay laboratory.
The La Quebrada adit is the largest of the three new adits sampled, and is 87 meters deep with an 8 meter sublevel. The entire adit averages 3.18 gpt Au over 87 meters. A zone within this length running from 42 to 87 meters from the portal averages 5.37 gpt Au. The Au assay values in the La Quebrada adit ranged from 0.50 gpt Au to 29.16 gpt Au. The sublevel is 8 meters long and lies approximately 23 meters from the portal and averages 0.80 gpt Au, with an average width of 0.75 of a meter.
The El Volcan adit was 17 meters deep and averaged 7.68 gpt Au. The low Au assay was 0.73 gpt Au while the high assay was 24.53 gpt Au. The channel samples ranged from 0.61 meters to 1.46 meters in length, with an average width of 0.94 of a meter.
The Volcan Arriba adit had a total length of 18 meters. No samples were taken from 12 to 15 meters due to lack of access. The assay values averaged 5.64 gpt Au and ranged from a low of 1.93 gpt Au to 9.06 gpt Au, with an average width of approximately one meter.
A NI 43-101 Technical Report has been commissioned from Paul Pelke, a consulting geologist and the supervising Qualified Person for the current exploration. The El Cafetal Gold Mine is a mining concession under Colombian Mining Law, with clear title to Inversiones Midas confirmed by the Company. Exploration will be ongoing during the completion of the acquisition.
Mr. Paul A. Pelke, a registered geologist in the state of California and a Qualified Person as defined by NI 43-101 has reviewed the content of this press release.
On Behalf of the Board of Directors of Caerus Resource Corporation.
Adrian F.C. Hobkirk, President and Chief Executive Officer
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.
The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release.