Alder Resources Ltd (ALR-V) is a Canadian TSX venture company which is
focused on gold exploration in Colombia, South America and in the Canadian
Creek area of the Yukon Territory in Canada.
Alder has entered into an agreement to acquire an 80% interest in the La
Montañita Gold Project which is situated in an area with a reported 100 year
history of gold mining. It is located in western Colombia approximately 220
kilometres from the Pacific Coast and 40 km from the city of Medellin. The
Project encompasses approximately 1,000 hectares, including a 30 hectare
mineralized mountain that the Company understands has been the subject of
artisanal gold mining for over 80 years. Historic mining consisted
primarily of underground tunnelling that followed high grade sub-vertical
structures varying in width from 20 to 60 centimetres. Current production
at the Project continues on an artisanal basis targeting a high grade NE
trending vein. Initial sampling of these underground Au veins returned
grades of up to 186.5 grams per tonne gold, 272 grams per tonne silver and
0.93 percent copper.
The Company intends to analyze the potential for a bulk tonnage open pit
mine at the Project based on an understanding that the high grade veins form
part of a larger Au-Cu stock work, with four prominent fracture orientations
within a granodiorite host rock. Management believes the host rock, scope
and mineralization style are comparable to the nearby Gramalote deposit,
also located within the same batholith. The Gramalote deposit is held by a
joint venture between Anglogold-Ashanti and B2Gold Inc. and hosts a NI
43-101 compliant estimated inferred mineral resource of 74.4 million tonnes
at an average grade of 1.00 g/t gold for a total of approximately 2.4
million ounces of gold. The Gramalote property is less than 40 km from the
La Montañita Project.
The Canadian Creek exploration property comprises approximately 11,860 acres
of prospective gold, copper, and molybdenum. It is located 50km southeast of
the Underworld Resources Inc (UW-V) owned "White Gold project" on the south
side of the Yukon River sandwiched between the Kaminak exploration ground
and the Western Copper's Casino Deposit. These two projects sparked the
largest land rush in the Yukon in years and the newly recognized area has
been named the White Gold District.