Carrie Arran Resources Inc.
TSX VENTURE : SCO

March 12, 2012 15:30 ET

Carrie Arran Announces Drill Results From 2011 Exploration Program

TORONTO, ONTARIO--(Marketwire - March 12, 2012) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES.

Carrie Arran Resources Inc. ("Carrie Arran") (TSX VENTURE:SCO) announces drill results for its 2011 diamond drill exploration program on its Black Creek Project.

The diamond drilling program was conducted on the Black Creek property between September 29 and October 15, 2011. The program consisted of three holes, as follows:

DDH# GRID LOC AZIMUTH DIP CLAIM# DEPTH
B-11-01 325N+420E AZ 236 -55 3002203 498m
B-11-02 272N+420E AZ 231 -55 3002203 342m
B-11-03 272N+325E AZ 230 -45 3002203 150m

A total of 990 metres ("m") were drilled targeting the East Erret Lake zone south of Erret Lake. Hole B-11-01 was designed to undercut holes B-96-3 and B-96-5 where a zone of shearing, carbonatization and pyrite mineralization widening at depth and containing anomalous gold values was encountered by previous owners in 1996. The deepest cut of the zone at that time was approximately 100 m vertical and hole B-11-01 was designed to cut the zone at 250 m vertical depth. Holes B-11-02 and B-11-03 were designed to cut the East Erret Lake zone approximately 50 m along strike southwest of B-11-01.

Anomalous gold mineralization was intersected in all three holes completed. The best intersection was 33.395 grams per tonne gold ("g/t Au") over a core length of 0.41 m in hole B-11-01 at a depth of 289 m. Other intervals from the drilling include:

B-11-01 0.664 g/t Au over 1.74 m, 0.776 g/t Au over 2.16 m, 33.395 g/t over 0.41 m (check assay - 19.337 and 25.090 g/t Au) and 1.545 g/t Au over 1.3 m
B-11-02 0.823 g/t Au over 0.82m

No significant mineralization was encountered in hole B-11-03.

Gold mineralization is closely associated with strong shearing within basalt units accompanied with moderately strong carbonatization and possible albitization. Higher gold tenures in the Black Creek drilling are, in general, directly related to a combination of carbonatization and sulphide mineralization (pyrite). An increase in pyrite mineralization does not necessarily result in an increase in tenure but is an indication of fluid movement within the alteration zone.

Carrie Arran is compiling this information and will evaluate how to proceed with its next exploration program on the Black Creek Project.

Quality Control

The design of the Carrie Arran's drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Carrie Arran's consulting staff including qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. The Black Creek Project half-core samples were shipped to Polymet Labs (a Division of Polymet Resources Inc.) of Cobalt, Ontario and analyzed employing the appropriate gold fire assaying techniques. For QA/QC purposes Carrie Arran submits standards and blank samples.

The content of this news release has been reviewed, and verified by Mr. Mike Sutton, P.Geo., who serves as the Qualified Person in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators. The drill core is sawn in half with one half of the core samples shipped to Polymet Labs (a Division of Polymet Resources Inc.) of Cobalt, Ontario or Swastika Laboratories in Swastika, Ontario. The other half of the core is retained for future assay verification. Other QA/QC includes the insertion of blanks, and standards. Gold analysis is conducted by the appropriate gold fire assaying techniques. The laboratory re-assays at least 10% of all samples and additional checks (on the reject) were run on anomalous values.

About Carrie Arran Resources Inc.

Carrie Arran's principal business is the acquisition, exploration and development of mineral properties. Since its IPO, Carrie Arran has focused on the exploration of the Black Creek Project, located approximately 30 km north of Kirkland Lake, Ontario, Canada. For more information on the Black Creek Project, please refer to Carrie Arran's NI 43-101 compliant technical reports, "Technical Report on the Black Creek Property for Carrie Arran Resources - Black Township - Larder Lake Mining Division - Ontario" dated as of February 8, 2011 and available on SEDAR at: www.sedar.com.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares issuable upon exercise of the Warrants will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements.

Forward-Looking Statement Cautions:

This Press Release contains forward-looking statements which may involve a number of risks and uncertainties. Actual events or results could differ materially from Carrie Arran's forward-looking statements and expectations herein.

Neither 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

  • Carrie Arran Resources Inc.
    Thomas Pladsen
    President and CEO
    (416) 628-5921