EDMONTON, ALBERTA, Oct. 6, 2009 (Marketwire) --
EDMONTON, ALBERTA -- (Marketwire) -- 10/06/09 -- CBR Gold Corp. (TSX VENTURE: CBG)(FRANKFURT: C3M) ("CBG") today announced positive rock sample results from the 2009 regional exploration program at the Committee Bay Greenstone Project located northeast of Baker Lake in Nunavut.
The two week exploration program completed in August 2009 consisted of assessment driven rock and till sampling on mineral claims where previous work had been limited. In total approx. 670 rock samples were collected, of which 4% assayed greater than 150 parts per billion ("ppb") gold ("Au"). Grades of 150ppb are considered anomalous to the Committee Bay Greenstone Belt as many of the project's advanced prospects began with similar anomalous grades. Two targets areas; Queen and Kanosak were also discovered during the 2009 program and show particular potential to develop into significant prospects. (For target locations, see Figure 1 below)
At the Queen target, three rock samples collected from iron formation subcrop and outcrop returned assay values greater than 150ppb and up to 2.11 grams per tonne ("g/t") Au. Queen represents the first indication of gold mineralization within a new and distinct trend of iron formation that is parallel to, and north of, previously identified gold targets.
At the Kanosak target, five rock samples collected from subcrop and boulders of iron formation returned assay results greater than 150ppb and up to 0.39g/t Au. The anomalous samples taken to date define a 1km mineralized trend within a previously unrecognized iron formation.
CBR Gold Corp. intends to advance the Committee Bay Greenstone Belt as a priority project in 2010. It is envisaged that the 2010 program will entail extensive drilling at advanced and developing prospects. CBR Gold Corp. continues to investigate alternatives for advancing development of the project.
The Committee Bay Greenstone Belt is 300 km long, 5 to 50 km wide and geologically comparable to the significant gold bearing belts hosting the Meadowbank and Meliadine deposits currently being developed in eastern Nunavut. Drilling at the Three Bluffs Deposit from 2004 to 2008 has defined a Resource of 508,000 indicated ounces (2,700,000 t @ 5.85 g/t Au) and 244,000 inferred ounces (1,272,000 t @ 5.98 g/t Au) (See CBG press release dated March 2, 2009). The Committee Bay belt currently hosts more than 40 high-grade gold occurrences, but remains one of the longest and least explored greenstone belts in Canada. CBG currently holds a 100% interest in approximately 567,000 acres of mineral properties with prospective geology along the Committee Bay Belt.
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/CBG1006.pdf
CBR GOLD CORP.
