EDMONTON, ALBERTA, Oct. 20, 2009 (Marketwire) --
EDMONTON, ALBERTA -- (Marketwire) -- 10/20/09 -- CBR Gold Corp. (TSX VENTURE: CBG)(FRANKFURT: C3M) ("CBG") is pleased to announce the commencement of the 2009 surface geochemistry and drill exploration program designed to test high priority targets at its wholly owned Jaurdi Hills Gold Project in Western Australia. The company has also successfully staked an additional eight contiguous prospecting licenses covering extensions of key mineralized trends. The Jaurdi Hills tenements now comprise approximately 9,300 hectares, located 40 km northwest of the town of Coolgardie, within the Kunanuling District of the Coolgardie Mineral Field.
This phase of exploration and drilling will comprise 2,000 metres of Reverse Circulation (RC) drilling in 12 holes at recently delineated targets. Further soil sampling will also continue along untested prospective magnetic, electromagnetic and geochemical trends.
"Combining traditional surface prospecting methods with leading edge geochemical and geophysical techniques, we developed an advanced targeting methodology that has led to identification of new drill targets in an old gold district. We believe that our systematic and innovative approach will allow us to unlock the true value of the Jaurdi Project," stated John Williamson, President and CEO of CBR Gold Corp.
Drill Targets include:
- Wealth of Nations: Follow-up of 2008 drilling which recorded intercepts of 7.81g/t Au over 4m in RC drill hole 08WNP001. The Wealth of Nations target is a 2km long trend of gold in soil, and rock sampling with coincident magnetic anomaly along trend of past producing Wealth of Nations mine.
- Derrys Own: Over 1.5 km long conductive trend overlain by anomalous gold in soil and rock samples with results of up to 19.36g/t Au.
- New Gatleys: A 500 m long, linear trend of anomalous gold in soil which includes a peak soil value of 1100 ppb, indentified in recent sampling.
- Derrys Own West: A bulls-eye shaped, circular conductor with associated anomalous gold in soil results.
- Panther North: A linear gold in soil anomalies occurring coincidentally with a linear magnetic high which potentially reflects the contact between high magnesium and tholeiitic basalt flows.
The Jaurdi Hills Project lies within the prolific gold producing Norseman-Wiluna greenstone belt of Western Australia's Yilgarn Craton, which hosts numerous world class gold deposits including the famous Golden Mile. The Project encompasses two highly prospective structural corridors in excess of 10km in length where mining has extracted over 23,000 ounces of gold.
CBR Gold Corp. has been exploring Jaurdi Hills since 2005.
