Alder Resources Ltd.
TSX VENTURE : ALR

September 24, 2009 11:52 ET

Alder's Canadian Creek Yukon Drilling Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2009) - Alder Resources Ltd. (TSX VENTURE:ALR) is pleased to update information on the exploration program on its optioned Canadian Creek Property. The Canadian Creek property is located in the Whitehorse Mining District of the Yukon Territory 160 km south of Dawson City. The property is also 50 km southeast of the Underworld Resources Inc. owned White Gold project and approximately 25 km southeast of Kaminak Gold Corp.'s Coffee property.

A drilling program, to total approximately 1,500 metres, has been initiated and is expected to be completed in the next one to two weeks. The drill program is targeting a 4.0 km long trend of strong gold and arsenic soil anomalies that are 500 m to 1.5 km long (see news release dated Sept. 10/09) as well as geophysical targets outlined by IP chargeability highs.

An additional 35 claims (733 hectares) have been staked which tie on to the north of the Canadian Creek property. These claims were staked in order to cover a possible extension of newly discovered soil and IP Chargeability anomalies. This expands the property size to 5,533 hectares.

A grab sample taken from a pyritic, quartz-bearing shear on the Ana claims returned 2.5 g/t gold and is associated with arsenopyrite. This area lies within a northeast trending soil gold anomaly that is approximately 1.2 km south of the newly gridded gold-arsenic anomaly described above. This area forms an additional target for future work.

Alder can earn a 60% interest in the Property by making cash payments totaling $250,000 and issuing 250,000 shares to Cariboo Rose, and fulfilling exploration expenditures on the property totaling $2,500,000 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. Geo., also a qualified person within the context of National Instrument 43-101, is supervising the project work in the field.

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.
    Donald Mosher
    Director
    (604) 685-6465