| ||April 08, 2008|
Commander Acquires High Grade Base Metal Property with Historical Drill Intercepts of 5.09% Cu Over 53.9 Metres.
| ||News Release: 08-10|
Commander Resources Ltd. (CMD-TSX Venture) has acquired a significant copper and zinc property within a 62,320 hectare land position in Nunavut, Canada. Storm Copper includes four near surface, high grade centres of copper mineralization which occur within a seven (7) kilometre long mineralized structural corridor The copper zones include a number of historical drill intercepts as high as 5.09% Cu over 53.9 metres. The largest zone, measuring in excess of 1000 metres x 400 metres and containing high grade intercepts such as 3.5% Cu over 17.2 metres within 50 metres of surface, remains open in all directions. The Seal Zinc zone, which is adjacent to tidewater includes historical drill intercepts up to 10.5% Zn and 28 g/t Ag over 18 metres of drill core.
Commander was awarded three (3) Prospecting Permits valid for a term of five (5) years. The total cost of the acquisition was about $15,000, which will be refunded upon completion of an equivalent amount of exploration work within the first two years.
Commander plans to initiate a program to re-log and sample core and to compile and evaluate large quantities of geological, geophysical, and geochemical data in order to define priorities and develop a strategy to advance the property.
"It is very rare that a property of this significance and size becomes available. The property was explored by a major mining company at a time when metal prices were at historically low levels so very few people even knew of its existence. With copper prices 5 times what they were in the 1990's and hitting record price of $4.00/lb this week, this property represents an excellent acquisition for Commander. It fits Commander's business strategy with low initial and holding costs and with known high grade mineralization ,presents a real opportunity to find a large size, high grade copper resource" states Kenneth Leigh, President & CEO.
Four zones of copper mineralization, named 2200N, 2750N, 3500N and 4100N, hosted by Paleozoic carbonates, outcrop at surface and extend to depths of at least 100 metres. These are located within 16 - 20 kilometres of tidewater.
The 4100N zone, the largest discovered, contains a consistent interval of copper mineralization starting at a depth of about 50 metres from surface based on 17 widely spaced diamond drill holes. The zone extends over an area of at least 1000 metres x 400 metres and remains open. Examples of drill intersections from this large zone include:
The complete table of the 17 historical drill holes from the 4100N zone can be found on the Company's website www.commanderresources.com along with maps and photos of the overall property.
- 3.5% Cu over 17.2 metres
- 2.0% Cu over 10.2 metres
- 2.33% Cu over 4.9 metres
- 1.14% Cu over 52.2 metres including 2.41% Cu over 7.3 metres
- 1.16% Cu over 52.2 metres including 3.27% Cu over 10.2 metres
The other three zones have potential as indicated by the following drill intercepts:
2750N Zone (exposed at surface over at least 200 metres of strike)
2200N Zone (exposed at surface over 500 metres of strike)
- 2.92% Cu over 105 metres starting at surface including 5.09% Cu over 53.9 metres
- 3.1% Cu over 58.4 metres including 4.54 % Cu / 35.5 metres and 9.56% Cu over 13.3 metres.
3500N Zone (exposed at surface over a 300 metre strike length)
- 2.46% Cu over 26 metres starting at surface and including 3.76% Cu over 15 metres
- 1.56% Cu over 50.9 metres starting at surface including 9.29% Cu over 6.4 metres from surface and 1.93% Cu over 10.6 metres at a depth of 38 metres.
Anomalous copper in soils and copper mineralization in felsenmeer and outcrop can be found over the entire seven kilometre length of the structure. Significant exploration potential remains in the area of the known zones and at depth beneath a mega collapse breccia block, several kilometres in size that was most likely dropped down due to dissolution of the carbonates by mineralizing fluids.
- 0.96% Cu over 95.6 metres including 2.2% Cu over 12.6 metres starting at 7.6 metres and 3.09% Cu over 8.2 metres at a depth of 33.4 metres.
- 0.62% Cu over 80.3 metres from surface including 1.58% Cu over 11.8 metres.
Chalcocite and bornite are the dominant copper sulphides, which is significant since both minerals contain much higher copper content than chalcopyrite and therefore result in a high grade copper concentrate.
The property exhibits most of the attributes of large carbonate-hosted Cu (Zn) mineral deposits such as Kipushi (70 Mt @ 4.8% Cu, 8.8% Zn, 0.5% Pb), Kennecott (4.4 Mt @ 12.4% Cu, 95 g/t Ag), and Ruby Creek (90 Mt @ 1.2% Cu).
The Seal Zinc zone is located on tidewater, 20 kilometres to the west from the centre of the copper mineralization and within the same structural trend. The Seal zone is stratabound consisting of massive to disseminated and vein-fill sphalerite, marcasite and minor pyrite hosted by a clean, white sandstone unit that is stratigraphically below the main copper mineralization at Storm Copper.
Teck Cominco discovered the Seal zone in 1995 when 14 holes drilled on the target intersected high-grade zinc mineralization hosted by a sandstone unit. Drilling also identified intense hydrothermal alteration extending over a 600 metre long, 150 metre thick zone in the footwall carbonate units to the main massive sulphide zone.
Property Location and History
The entire property covers about 154,000 acres (62,320 hectares) on the northwest corner of Somerset Island, Nunavut extending from tidewater inland for about 40 kilometres. The property is about 150 kilometres south of the commercial airport and service centre of Resolute Bay on neighbouring Cornwallis Island. The Polaris mine shipped lead and zinc concentrates from this region for 20 years.
The property was discovered and explored by Teck Cominco Ltd. between 1995 and 2000 during which time a total of 67 shallow holes were drilled on the Storm Copper area and 31 holes were drilled on or in the vicinity of the Seal Zinc Zone. Work on the property ceased in 2001 due to weak metal prices and the soft metal markets. The mineral claims lapsed over the subsequent six (6) years as the credits ran out. Commander's acquisition of 100% of the property was confirmed on April 1, 2008.
All of the geological information contained in this release including assay intervals and descriptions of mineralization was taken from publicly available assessment reports and assay data filed with the Nunavut Government by Teck Cominco. Commander has not verified this data.
Bernard Kahlert, P.Eng is the Qualified Person responsible for the technical content of this release.
About Commander Resources Ltd.
Commander Resources Ltd. is a junior exploration company focused on gold and base metal exploration in Canada. The strength of Commander comes from a combination of aggressive land acquisition and strategic partnerships to increase exposure to discovery while mitigating risk to the shareholders. Diversification is the cornerstone of Commander's strategy and is reflected in its extensive property portfolio including the main projects, Baffin Island Gold, Hermitage Uranium and the South Voisey's Bay Nickel property.
On behalf of the Board of Directors,
Kenneth E. Leigh
President & CEO
For further information, please call:
Investor Relations: BMK Communications
Toll Free: 1-866-782-6032
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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