Alder Resources Ltd.

September 10, 2009 12:19 ET

Alder Resources Ltd.: Canadian Creek Project, Yukon Gold Geochemical Anomalies Outlined Along 4 km Trend

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2009) - Alder Resources Ltd. (TSX VENTURE:ALR) and Cariboo Rose Resources Ltd. (TSX VENTURE:CRB) are pleased to report on ongoing exploration on the Canadian Creek Project in the Whitehorse Mining District of the Yukon Territory 160 km south of Dawson City. The property is also 50 km southeast of Underworld Resources Inc.'s White Gold project and approximately 25 km southeast of Kaminak Gold Corp.'s Coffee property.

A soil sampling grid has been cut and sampled, and the analytical results indicate a series of gold and arsenic anomalies across the entire 4.0 km width of the grid. The anomalies are defined by 20 ppb contours and individual anomalies are up to 1.5 km in length. At a 50 ppb gold threshold the largest anomaly is 1.2 km long and 300 m wide. The anomalies show strong linear trends from east-west to northeasterly. Previous sampling of float in one of these anomalies returned 6.6 g/t gold and 51 g/t silver from a piece of quartz-arsenopyrite vein. An Induced Polarization (IP) geophysical survey was also completed over the grid and outlined several anomalies that show the same general trend as the soil anomalies.

A separate gold geochemical anomaly, 3.0 km southeast of the gold-arsenic anomaly and adjacent the Casino Deposit presently being explored by Western Copper Corporation, was defined during previous exploration on the property and received some follow-up. An old trench (9076C) in the middle of this large anomaly was reported to have returned 1.69 g/t gold across 10 m. The trench was re-sampled with 5m chip/panel samples and returned 45 m of 0.33 g/t gold with an interval of 10 m grading 0.93 g/t in the centre of the trench. A diamond drill hole completed in 1993 located within this same anomaly is reported to have intersected 150 metres grading 0.49 g/t gold, including 44 metres grading 0.71 g/t.

Alder has contracted Kluane Drilling, based in Whitehorse, to undertake a drilling program on the property. Kluane is presently drilling for Western Copper on the adjacent Casino Deposit and this provides a tremendous logistical and cost advantage to the project.

Alder can earn a 60% interest in the Property by completing a schedule of cash payments (totalling $250,000) to Cariboo Rose, issuing a total of 250,000 shares in its capital to Cariboo Rose, and fulfilling designated exploration expenditures on the property totalling $2,500,000, within specified times, all to be completed by June 18, 2013.

G.L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release. Bob Johnston, P. Geol., also a qualified person within the context of National Instrument 43-101, is supervising the project work in the field. Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-MS) Aqua Regia Digestion (1D) procedures, with gold and silver values determined using fire assay procedures.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.

Contact Information

  • Alder Resources Ltd.
    Bruce Ford
    (416) 300 8023