Vancouver — Drilling on
This year’s drilling, the first ever in the area, has been focused on the Malrok prospect, confirming the continuity of gold-bearing iron formations over several hundred metres.
To date, 39 holes have been drilled on Malrok. Results from the latest round include the following:
— hole 22 — 2.8 metres (from 16.5 metres) grading 6.76 grams gold per tonne in iron formation, including 0.6 metre of 16.8 grams gold;
— hole 23 — 1.5 metre (from 7 metres) of mineralized iron formation grading 11.5 grams gold, including half a metre of 30.8 grams gold;
— hole 29 — 3.3 metres (from 21.9 metres) averaging 12.1 grams gold, including higher-grade sections of 0.3 metre grading 38.3 grams and half a metre grading 18.8 grams; farther down-hole, drilling intersected 3.5 metres of 1.6 grams, including 1.5 metres of 2.9 grams.
The intersection of two separate gold-bearing iron formations in some of the drill holes indicates the possibility of a “stacked” system.
This season’s drilling, and previous surface channel sampling, on Malrok has outlined a continuous gold zone that extends downdip to at least 130 metres and remains open. Commander’s drilling has expanded high-grade sections in the iron formation unit, which also remains open along strike.
Gold mineralization in the iron formation occurs as free gold in coarse-grained garnets and amphiboles, and in quartz veins. Some mineralization is also associated with the sulphides, primarily pyrrhotite and arsenopyrite with minor pyrite and chalcopyrite.
Surface channel sampling on the Ridge Lake prospect has extended the strike length of the mineralized iron formation to more than 3.5 km. The Ridge Lake iron formation, 30 km east of Malrok, has relatively poor surface exposure but is estimated to be up to 5 metres thick. Numerous sections of high-grade gold mineralization have been identified in the unit, which is being tested by drilling.
The company is earning a 100% interest from
Commander’s land package comprises 4,000 sq. km and covers more than 140 km of the east-west-trending Bravo Iron Formation in the regional-scale Lower Proterozoic Foxe-Rinkian Fold belt. The belt extends from the Melville Peninsula of northeastern mainland Nunavut, through Baffin Island and into western Greenland. Based on initial exploration in 2003, the company believes the area is geologically similar to the 40-million-oz. Homestake gold mining district in South Dakota.
Commander Resources was created in 2002 when Major General Resources split out its diamond interests into
The company has 26.8 million shares outstanding and was recently trading in the range of 40-45.
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