Concordia Resource Corp. Announces Commencement of Albisu Drill CampaignConcordia Resource Corp. (TSX-V:CCN) ("Concordia" or the "Company") is pleased to provide an exploration update on the Company's activities.
The Company has commenced core drilling at its 100% owned Albisu property, a grassroots discovery located in northern Nevada. The drilling has been designed to test potentially mineralized structures along the west side of the extensive low-grade gold mineralization identified in 2008 and 2009.
Concordia plans to drill two, angled core holes to depths of approximately 500 m. One hole will test the northern end of the project area where previous drilling has encountered wide, low-grade intercepts and intensely altered volcanic rocks characteristic of high-level epithermal systems. A second hole will test the structure approximately 1600 m along strike to the south. A third angled core hole of approximately 750 m will test deeper under the better of the two initial holes.
Concordia completed 12 HQ core holes totaling 3575 metres in areas of quartz veining and alteration in the northern part of the project in 2008 and 2009. This diamond drilling intercepted wide low grade intercepts, containing scattered narrower zones of higher grade gold, in intensely altered volcanic rocks in every drill hole. For example, ALB-04 intercepted 12 grams of gold over 1.5 metres from 103.7m to 105.2m and 41 metres from 154.0m to 195.1m that averaged 0.66 g/t gold (Press release October 29, 2008). The gold mineralization and associated alteration are characteristic of high level epithermal systems. The large halo of widespread and continuous lower grade gold along with geochemically elevated intervals of silver, arsenic, cobalt, mercury and molybdenum within hydrothermally altered and brecciated volcanic rocks indicates this has been an active and dynamic system.
ABOUT THE COMPANY
Concordia Resource Corp. is a mineral exploration company with property holdings in North and South America and Spain. The Company holds the Albisu gold discovery in Nevada, and is earning from Renaissance Gold Inc. a 70% interest in the Baza gold-copper project in Spain. Through its wholly owned South American subsidiary, Meryllion Minerals Corp, the Company is earning 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 property located in the Malargüe District of Argentina. Concordia has its head office and executive management team in Vancouver, Canada; and its technical team is based in Reno, Nevada.
On behalf of the Board of
Concordia Resource Corp.
"R. Edward Flood"
R. Edward Flood
Concordia Resource Corp.
Karl Cahill, VP, Investor Relations
Richard Roy, Corporate Communications
Forward Looking Statements
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act, including the receipt of necessary permits to conduct exploration and construction, timing of anticipated 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 environment 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. Accordingly, readers are advised not to place undue reliance on forward-looking information.
The TSX-V has neither approved nor disapproved the contents of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.
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