Concordia continues to expand gold system at Kerboulé Project, Burkina FasoConcordia Resource Corp. (TSX-V:CCN) ("Concordia" or the "Company") is pleased to report that all of the results of the second phase of drilling at its 100% owned Kerboulé Project in northern Burkina Faso are now available. A total of 10,367 metres of reverse circulation ("RC") drilling and 3,388 m of core drilling was completed in the Kerboulé area during the two phases of drilling during 2012.
Highlights include: 20 m at 2.39 g/t gold ("Au") (hole KBS-RC-005); 29 m at 7.43 g/t Au (KBS-RC-010); 23 m at 1.27 g/t Au (KBS-RC-012); 40 m at 1.94 g/t Au (KBS-RC-013); 38 m at 3.95 g/t Au (KB-DD-005); 29 m at 4.0 g/t Au (KB-RC-010); and 4 m at 15.79 g/t over 4m (YAL-RC-001).
Six areas were drilled within the five-kilometre Kerboulé-Yaléma mineralization trend, confirming and extending the known mineralization at Kerboulé Main, Kerboulé North, Kerboulé South, and Yaléma. Further work is required in this area to identify the source of the significant artisanal workings in Yaléma East in view of the inconclusive results to date.
In addition to the above, limited drilling was carried out on new geophysical anomalies and a new area of mineralization has been identified at 'Kerboulé Village South East'. These results are significant, as it confirms mineralization over a much broader zone than the known Kerboulé-Yaléma trend.
Significant new intersections from the main target areas are shown below.
At Kerboulé South the highlights of the 2012 drilling program include 1.05 g/t over 21m from KBS-DD-003, 1.28 g/t over 22m from KBS-DD-004, 2.39 g/t over 20m from KBS-RC-005, 7.43 g/t over 29m from KBS-RC-010, 1.27 g/t over 23m from KBS-RC-012, 1.94 g/t over 40m from KBS-RC-013, and 1.95 g/t over 22m from KBS-RC-017.
Highlights from the drilling at Kerboulé Main include 4.08 g/t over 5 m from KB-DD-001, 3.60 g/t over 5m from KB-RC-002 and 2.81 g/t over 5m from KB-RC-003.
At Kerboulé North, highlights of the 2012 drilling program include 3.95 g/t over 38m from KB-DD-005, 4.0 g/t over 29m from KB-RC-010, and 3.74 g/t over 5m from KB-RC-012. Significant intercepts from this area are shown below:
At Yaléma, highlights of the 2012 drilling program include 15.79 g/t over 4m from YAL-RC-001, and 8.51 over 2m from YAL-RC-003. Significant results from this area are shown below:
Highlights from drilling on a new geophysical target at 'Kerboulé Village South East", include 1.21 g/t over 18m from KB-RC-023 and 1.47 g/t over 13m from KB-RC-023. These are shown below:
The gold mineralization in the Kerboulé area consists predominately of discrete stockwork zones located at sheared lithological contacts. The mineralization occurs within tubular bodies lying sub-parallel to the main foliation fabric, the 'Inata-Kerboulé shear zone'. The 2012 drilling program was designed define an initial mineral resource at Kerboulé South, Kerboulé Main and Kerboulé North.
Mr. Barry Bayly, is a member of the South African Council for National Scientific Professionals (SACNSP), South Africa, and is a qualified person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). He is responsible for the exploration program on Kerboulé. He has verified the data disclosed in this news release. Drill samples were submitted to the Bigs Global Laboratory in Ouagadougou, Burkina Faso, for preparation and assaying using the Pb based Fire-Assay / Flame AAS analysis technique. In order to ensure the Quality Control of the samples, check and repeat assays were submitted on a regular basis, 4% of the samples were standards, 3% were blanks and 3% were duplicates. Mr. Bayly is the chief operating officer of Swala Resources Inc., a 100%-owned subsidiary of Concordia, and is therefore not independent within the meaning of NI 43-101.
Concordia is a well-financed junior exploration company with an emphasis on developing mineral deposits in Africa and South America. Concordia has an extensive exploration portfolio in the resource-endowed regions of Burkina Faso and the Democratic Republic of Congo (the "DRC"), with a land package in Africa totalling approximately 8,500 km2. In addition, Concordia has acquired an option to purchase 100% of the historic La Providencia silver mine located in the Puna of northwestern Argentina and has also acquired an option to purchase the 14,000 ha Cerro Amarillo-Cajon Grande copper-gold-molybdenum property located in the Malargüe District of Argentina. The Company has an experienced management team and board of directors with extensive expertise across the globe.
On behalf of the Board of
Concordia Resource Corp.
"R. Edward Flood"
R. Edward Flood, Chairman
Concordia Resource Corp.
Toby Mayo, President
Telephone: +1 (604) 669-6446
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the British Columbia Securities Act. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions, identify forward-looking information. The forward-looking information relate to, among other things, the receipt of necessary permits to conduct exploration and construction, timing of anticipated exploration program and results of current exploration program, the number of the holes and metres to be drilled and future plans of the Company. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described in each management discussion and analysis. Forward-looking information is, in addition, based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long-term price of metals; appropriate equipment and sufficient labour and that the political environments where the Company operates will continue to support the development and operation of mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update the forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such information, other than as required by applicable law. Accordingly, readers are advised not to place undue reliance on forward-looking information.
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