TORONTO, ONTARIO--(Marketwire - Feb. 28, 2013) - Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) will be participating at this year's Prospectors and Developers Association of Canada (PDAC) Conference taking place at the Metro Toronto Convention Center from March 3rd to 6th. Alder will be located in booth 2620 on March 5th (10:00 AM - 5:30 PM) and March 6th (9:00 AM - 12:00 PM). Management will be available at the booth to discuss any questions regarding the Company and its future plans.
Alder Director, the Honourable Pierre Pettigrew, PC, will be providing a corporate overview as part of the Nicaragua: Discover the mining opportunities session sponsored by the Nicaragua Chamber of Mines on March 5th from 2:00 to 5:00 PM in room 205DC in the North Building of the Convention Centre. All are welcome to attend, registration is not required. For a technical discussion of the project please visit our booth.
Corporate Update Summary
The Company has made significant advancements in the Rosita porphyry/skarn project including completion of 5,900 metres of diamond drilling in 20 holes, 1,500 metres of reverse circulation drilling on stockpiles leading to a NI 43-101 compliant inferred mineral resource, ground Induced Polarization and magnetic surveys, soil sampling surveys, excavation of 16 trenches and completion of a detailed mineralogical study of the stockpile resource. Highlights include:
-- Definition of a 7.95 million tonne inferred mineral resource grading
0.62% Cu, 0.46 g/t Au and 9.2 g/t Ag for the mine stockpiles (see news
release dated May 9, 2012);
-- Completion of 18 diamond drill holes at Santa Rita resulting in the
delineation of a 1,100 metre long trend of Cu-Au-Ag skarn
-- Discovery of a high grade gold zone that overprints the skarn
mineralization at Santa Rita;
-- Discovery of a high grade Cu+Au+Ag supergene enriched blanket at
Tipispan that includes 7.48% Cu, 2.36 g/t Au and 316.13 g/t Ag over 6.5
metres and 5.21% Cu, 4.4 g/t Au and 144.01 g/t Ag over 12.1 metres in
-- Identification of high grade (1-2% Cu) exotic Cu-Au-Ag mineralization in
the Bambana area;
The Company intends to focus efforts primarily on two aspects of the project in 2013. Exploration will continue at the Tipispan porphyry target and may include detailed soil sampling, trenching and drilling. In addition, Alder is currently exploring ways to advance the development of the stockpile resource, including metallurgical studies, economic modeling and a scoping study with respect to a small scale production facility.
Quality Assurance/Quality Control
Alder has implemented an industry standard Quality Assurance/Quality Control program that includes the insertion of certified standards and blanks into the sample stream. Samples were collected into heavy gauge plastic bags, sealed on-site, then stored at Alder's Rosita field office until transported by company or laboratory personnel to Inspectorate Exploration and Mining Services' sample preparation facility in Managua. In Managua, pulps were prepared for shipping to Inspectorate's Analytical laboratory in Reno, Nevada, where each sample was analyzed via 1 assay-tonne fire assay for gold and 30 element ICP (Inductively Coupled Plasma-atomic emission spectrometry) methods for copper, silver and 28 other elements.
Joseph Arengi, M. Sc., P. Geo., President and Chief Executive Officer of Alder and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release.
About Alder Resources Ltd.
Alder is a resource company focused on the development of gold and base metal projects throughout the Americas. Alder's current high priority Cu-Au-Ag porphyry target is the Rosita project in Nicaragua located 275 kilometres northeast of Managua. The company has current Inferred mineral stock pile resources of 7.95 million tonnes grading 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag with numerous zones that have good near term potential to add to and enhance these resources. See the technical report entitled "Rosita Cu-Au-Ag Project, RAAN, Nicaragua, NI 43-101 Technical Report on Mineral Resource Estimate of Rosita Stockpiles" effective as of May 8, 2012, which is available under the Company's profile at www.sedar.com. Alder is also highly encouraged by recent trench results that, in conjunction with previous drill results from the Tipispan area, support management's belief of a large, untested, copper-gold-silver porphyry/skarn system locally overlain by a high grade, supergene enriched, oxide blanket.
In August 2011, Alder entered into an option agreement to acquire a 65% interest in the Rosita D concession from Calibre Mining Corp. by issuing 1,000,000 shares and incurring expenditures of $4,000,000 over four years. To date Alder has incurred more than half of the $4,000,000 earn-in obligation.
Alder intends to continue to build its property position with strategic acquisitions.
For additional information, please visit our website at www.alderresources.ca and follow us on Facebook and Twitter: @AlderResources.
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding potential mineralization, exploration results and future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Alder to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operations in foreign jurisdictions; ability to successfully integrate the purchased properties; and other risks inherent in the mining industry. Although Alder has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Alder does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Alder Resources Ltd.
President & CEO
Alder Resources Ltd.