Challenger Deep Resources Corp.

Challenger Deep Resources Corp.

October 14, 2010 15:39 ET

Challenger to Commence Nevada Drilling

CALGARY, ALBERTA--(Marketwire - Oct. 14, 2010) - Challenger Deep Resources Corp. (TSX VENTURE:CDE) ("Challenger" or the "Company") is pleased to announce that drilling operations are set to commence on its Red Rock, Nevada gold property. Challenger acquired the Red Rock gold property as a part of its Qualifying Transaction in November 2009. Over the past year Challenger has conducted geological, geophysical and geochemical work on the property.

Challenger has selected two initial target areas on which to complete reverse circulation drill holes. The targets are coincidental to the Caetano Break, a structural element that controls alteration and anomalous metal geochemistry. The targets have been refined using the anomalous gold and trace element rock and soil sampling and the gravity work completed earlier in the year.

The vertical drill holes are estimated to be 1500 feet each and will test the lower plate Roberts Mountains carbonate rocks. Once the holes are completed Challenger will have them cased to allow for the subsequent deepening of the holes by diamond drilling, if deemed appropriate. Sampling of prospective alteration and mineralization will be assayed for gold. Drilling operations are scheduled to commence this week and the drilling program is estimated to require approximately three weeks for completion with a further two to three weeks for assay results.

The Qualified Person (as defined by NI 43-101) responsible for the review and approval of the technical material presented in this news release is Mr. Garry Clark (P. GEO), a Director of the Company.


No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.


Statements in this press release may contain forward-looking information including, statements regarding expected exploration activities. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Challenger. Factors that could cause the actual results to differ materially from those in forward-looking statements include exploration successes, the continued availability of capital and financing, and general economic, market or business conditions. The reader is cautioned not to place undue reliance on any forward-looking information. There can be no assurance that the proposed exploration programs in Nevada will be completed or, if completed, will be successful.

The forward-looking statements contained in this press release are made as of the date of this press release, and Challenger does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

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 of accuracy of this news release.

Contact Information

  • Challenger Deep Resources Corp.
    Darold H. Parken
    403-237-5816 (FAX)