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| | December 15, 2005
Despinassy Gold Project Study
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| | Commander Resources Ltd. (CMD-TSX Venture) reports that Alto Ventures Ltd. (ATV-TSX Venture) has provided the conclusions of a study recently completed by Hubacheck Consulting Geologists (HCG) of Mississauga, Ont., on the Despinassy gold project in the Abitibi greenstone belt, Quebec. Commander owns a 30% interest in the project. The HCG report, based upon 30 diamond drill holes, confirms the continuity of gold mineralization within the DAC deposit, identifies a potential range of quantity and grade of a possible mineral deposit and endorses the excellent exploration potential along the six-kilometre-long Despinassy shear zone. Acting on these positive conclusions, Alto plans a 5,000-metre drill program this winter to further upgrade the DAC mineralization to a resource category and drill other targets along this well-mineralized gold-bearing structure. Commander is encouraged by the results of the study, but has elected not to participate in the budgeted program due to its other project priorities. The Company will evaluate results as they become available to determine if involvement in future programs is warranted.
HCG concludes that a potential gold deposit ranging from 303,000 tonnes to 670,000 tonnes and with grades ranging from 6.8 grams per tonne (g/t) to 7.8 g/t of gold has been outlined along a 300-metre strike length and to a depth of 360 metres. The parameters for this estimate include a 1.2-metre true thickness and a drill-hole spacing of 25 metres to 50 metres for the lower range and the inclusion of 50-to-100-metre drill hole spacings for the upper range. The deposit remains open along strike and to depth. HCG further concludes that the Despinassy gold project warrants additional work to increase and upgrade the DAC deposit to indicated and inferred classification and further develop other partially tested gold mineralized zones in the project area.
The classification of resources was not a mandate of the HCG study at this time. The potential quantity and grade are conceptual in nature and there has been insufficient exploration to define a mineral resource on the property. It is uncertain if further exploration will result in the discovery of a mineral resource on the property.
The Despinassy gold project had been operated as a 70:30 Joint Venture between Cameco Corporation ("Cameco") and Commander. Alto Ventures entered into an Agreement with Cameco for an option to acquire from Cameco its 70% interest in the Property. Commander retains its 30% interest in the Joint Venture.
Quality assurance/quality control as provided by Alto Ventures.
About Hubacheck Consulting Geologists
Hubacheck Consulting Geologists (HCG), incorporated as W.A. Hubacheck Consultants Ltd., has participated on mineral and petroleum exploration programs on behalf of various concerns across Canada for over 30 years. The HCG study quoted above has been prepared by Peter Hubacheck, PGeo, No. 1059 (Ontario) of HCG for Alto Ventures Ltd. HCG have not performed a site visit or reviewed QA/QC procedures affecting the Despinassy geoscience database. The information and conclusions are therefore based on information available to HCG at the time of the study. Historical data, reports and opinions from past Cameco drilling were verified by Mike Koziol, PGeo (Ontario), Alto's vice-president of exploration and qualified person. Robert J. Tremblay, PGeo (Quebec), consulting geologist managed Alto's drill program and conducted a detailed examination of drill core from Cameco's past drilling which contributed to the geological interpretations that formed the basis of the HCG study. HCG granted permission to Alto to disclose comments from this study subject to National Instrument 43-101 Rules for Prohibited Disclosure 2.3 (2).
About Commander Resources Ltd.
Commander Resources Ltd. is a Canadian junior exploration company with a diversified portfolio of gold, copper-gold, nickel and uranium projects across Canada with focus on a large, emerging new gold district on Baffin Island. Commander's mission is to generate or acquire quality opportunities at a low cost and add significant shareholder value through discovery of mineral deposits, leveraged partnerships, and/or sale of assets. The company has exposure to the diamond sector through an equity position in Diamonds North Resources Ltd.
On Behalf of the Board of Directors
Bernard H. Kahlert
V.P. Exploration
For further information, please call:
Cathy DiVito, Corporate Communications
Commander Resources Ltd.
Telephone (604) 685-5254 Toll Free Canada/U.S.: 1-800-667-7866
Email: info@commanderresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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