Concordia Resource Corp.
TSX VENTURE : CCN

Concordia Resource Corp.

September 12, 2012 08:30 ET

Concordia Continues to Expand Gold System at Kerboule Project, Burkina Faso

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2012) - Concordia Resource Corp. (TSX VENTURE:CCN) ("Concordia" or the "Company") is pleased to report that all of the results of the second phase of drilling at its 100% owned Kerboulé Project in northern Burkina Faso are now available. A total of 10,367 meters of reverse circulation ("RC") drilling and 3,388 m of core drilling was completed in the Kerboulé area during the two phases of drilling during 2012.

Highlights include: 20 m at 2.39 g/t gold ("Au") (hole KBS-RC-005); 29 m at 7.43 g/t Au (KBS-RC-010); 23 m at 1.27 g/t Au (KBS-RC-012); 40 m at 1.94 g/t Au (KBS-RC-013); 38 m at 3.95 g/t Au (KB-DD-005); 29 m at 4.0 g/t Au (KB-RC-010); and 4 m at 15.79 g/t over 4m (YAL-RC-001).

Six areas were drilled within the five-kilometer Kerboulé-Yaléma mineralization trend, confirming and extending the known mineralization at Kerboulé Main, Kerboulé North, Kerboulé South, and Yaléma. Further work is required in this area to identify the source of the significant artisanal workings in Yaléma East in view of the inconclusive results to date.

In addition to the above, limited drilling was carried out on new geophysical anomalies and a new area of mineralization has been identified at 'Kerboulé Village South East'. These results are significant, as it confirms mineralization over a much broader zone than the known Kerboulé-Yaléma trend.

Significant new intersections from the main target areas are shown below.

To view Figures 1 and 2, click on the following link: http://media3.marketwire.com/docs/c911m.pdf

At Kerboulé South the highlights of the 2012 drilling program include 1.05 g/t over 21m from KBS-DD-003, 1.28 g/t over 22m from KBS-DD-004, 2.39 g/t over 20m from KBS-RC-005, 7.43 g/t over 29m from KBS-RC-010, 1.27 g/t over 23m from KBS-RC-012, 1.94 g/t over 40m from KBS-RC-013, and 1.95 g/t over 22m from KBS-RC-017.

Anomaly Hole ID Type From
(m)
To
(m)
Length
(m)
Au
(g/t)
Kerboulé South KBS_DD_001 Core 2 9 7 1.23
KBS_DD_001 Core 138 144 6 1.64
KBS_DD_001 Core 179 183 4 1.18
KBS_DD_002 Core 121 126 5 5.13
KBS_DD_002 Core 134 139 5 1.43
KBS_DD_003 Core 85 106 21 1.05
KBS_DD_004 Core 81 90 9 3.04
KBS_DD_004 Core 95 101 6 1.45
KBS_DD_004 Core 114 136 22 1.28
KBS_DD_004 Core 158 170 12 1.29
KBS_DD_005 Core 84 101 17 1.30
-including 87 95 7 2.19
KBS_DD_005 Core 121 125 4 1.93
KBS_DD_005 Core 138 140 2 1.38
KBS_DD_005 Core 185 190 5 1.12
KBS_DD_005 Core 209 213 4 1.36
KBS_DD_005 Core 276 279 3 1.67
KBS_RC_001 RC 14 23 9 3.71
KBS_RC_001 RC 45 56 11 2.65
KBS_RC_002 RC 27 36 9 0.69
KBS_RC_002 RC 133 139 6 2.42
KBS_RC_005 RC 31 37 6 1.07
KBS_RC_005 RC 67 87 20 2.39
-including 73 78 5 5.82
KBS_RC_005 RC 96 100 4 1.83
KBS_RC_006 RC 15 18 3 2.55
KBS_RC_008 RC 73 93 20 0.97
-including 73 80 7 1.36
KBS_RC_009 RC 6 8 2 1.17
KBS_RC_010 RC 101 130 29 7.43
-including 127 128 1 188.11
KBS_RC_011 RC 107 118 11 1.78
-including 110 117 7 2.43
KBS_RC_011 RC 141 146 5 1.43
KBS_RC_012 RC 13 36 23 1.27
-including 20 26 6 2.46
KBS_RC_013 RC 35 39 4 2.35
KBS_RC_013 RC 55 95 40 1.94
-including 66 77 11 3.11
KBS_RC_017 RC 89 111 22 1.95
KBS_RC_018 RC 41 45 4 1.40
KBS_RC_018 RC 51 59 8 1.13
KBS_RC_018 RC 66 71 5 1.95
KBS_RC_019 RC 91 101 10 1.88
KBS_RC_019 RC 129 137 8 1.04
KBS_RC_020 RC 82 92 10 1.23
KBS_RC_021 RC 37 48 11 1.34
KBS_RC_023 RC 62 76 14 1.16
KBS_RC_025 RC 140 143 3 1.08
KBS_RC_026 RC 35 41 6 2.50
KBS_RC_026 RC 88 99 11 1.22

Highlights from the drilling at Kerboulé Main include 4.08 g/t over 5 m from KB-DD-001, 3.60 g/t over 5m from KB-RC-002 and 2.81 g/t over 5m from KB-RC-003.

Anomaly Hole ID Type From
(m)
To
(m)
Length
(m)
Au
(g/t)
Kerboulé Main KB_DD_001 Core 71 76 5 4.08
-including 71 73 2 8.78
KB_DD_002 Core 58 62 4 1.07
KB_DD_002 Core 176 184 8 1.29
KB_RC_002 RC 38 43 5 3.60
KB_RC_003 RC 35 40 5 2.81
-including 36 37 1 10.37
KB_RC_017 RC 35 38 3 2.88
KB_RC_020 RC 24 31 7 1.36

At Kerboulé North, highlights of the 2012 drilling program include 3.95 g/t over 38m from KB-DD-005, 4.0 g/t over 29m from KB-RC-010, and 3.74 g/t over 5m from KB-RC-012. Significant intercepts from this area are shown below:

Anomaly Hole ID Type From
(m)
To
(m)
Length
(m)
Au
(g/t)
Kerboulé North KB_DD_004 Core 99 100 1 99.85
KB_DD_005 Core 80 83 3 2.15
KB_DD_005 Core 104 118 14 1.03
KB_DD_005 Core 121 159 38 3.95
-including 121 122 1 93.49
-including 144 145 1 13.27
-including 150 151 1 18.26
KB_DD_006 Core 170 188 18 1.09
KB_RC_008 RC 115 124 9 1.35
-including 115 116 1 7.24
KB_RC_008 RC 129 133 4 1.09
KB_RC_009 RC 45 50 5 1.68
KB_RC_009 RC 64 77 13 0.83
KB_RC_009 RC 130 143 13 1.52
-including 132 133 1 7.75
KB_RC_010 RC 76 84 8 0.94
KB_RC_010 RC 121 150 29 4.00
-including 137 138 1 86.48
KB_RC_011 RC 33 46 13 1.00
KB_RC_012 RC 32 37 5 3.74
KB_RC_012 RC 85 89 4 1.07
KB_RC_013 RC 100 108 8 1.47
KB_RC_013 RC 129 139 10 1.67
-including 133 139 6 2.55
KB_RC_016 RC 72 75 3 1.74
KB_RC_018 RC 91 96 5 1.68
KB_RC_021 RC 10 18 8 1.29
KB_RC_021 RC 91 96 5 1.39
KB_RC_039 RC 14 25 11 1.05
KB_RC_041 RC 30 38 8 1.07
KB_RC_041 RC 108 110 2 1.53
KB_RC_043 RC 122 150 28 1.19
-including 149 150 1 12.07
KB_RC_045 RC 54 56 2 2.98
KB_RC_046 RC 77 86 9 1.04
KB_RC_049 RC 71 94 23 1.41
-including 83 89 6 2.32
KB_RC_049 RC 106 124 18 1.31
-including 107 115 8 2.15

At Yaléma, highlights of the 2012 drilling program include 15.79 g/t over 4m from YAL-RC-001, and 8.51 over 2m from YAL-RC-003. Significant results from this area are shown below:

Anomaly Hole ID Type From
(m)
To
(m)
Length
(m)
Au
(g/t)
Yaléma YAL_DD_001 Core 108 111 3 1.79
YAL_RC_001 RC 52 56 4 15.79
YAL_RC_003 RC 32 34 2 8.51

Highlights from drilling on a new geophysical target at 'Kerboulé Village South East", include 1.21 g/t over 18m from KB-RC-023 and 1.47 g/t over 13m from KB-RC-023. These are shown below:

Anomaly Hole ID Type From
(m)
To
(m)
Length
(m)
Au
(g/t)
Kerboulé Village SE KB_RC_023 RC 31 49 18 1.21
KB_RC_023 RC 73 86 13 1.47
-including 76 80 4 2.91

The gold mineralization in the Kerboulé area consists predominately of discrete stockwork zones located at sheared lithological contacts. The mineralization occurs within tubular bodies lying sub-parallel to the main foliation fabric, the 'Inata-Kerboulé shear zone'. The 2012 drilling program was designed define an initial mineral resource at Kerboulé South, Kerboulé Main and Kerboulé North.

QUALIFIED PERSON

Mr. Barry Bayly, is a member of the South African Council for National Scientific Professionals (SACNSP), South Africa, and is a qualified person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). He is responsible for the exploration program on Kerboulé. He has verified the data disclosed in this news release. Drill samples were submitted to the Bigs Global Laboratory in Ouagadougou, Burkina Faso, for preparation and assaying using the Pb based Fire-Assay / Flame AAS analysis technique. In order to ensure the Quality Control of the samples, check and repeat assays were submitted on a regular basis, 4% of the samples were standards, 3% were blanks and 3% were duplicates. Mr. Bayly is the chief operating officer of Swala Resources Inc., a 100%-owned subsidiary of Concordia, and is therefore not independent within the meaning of NI 43-101.

ABOUT CONCORDIA

Concordia is a well-financed junior exploration company with an emphasis on developing mineral deposits in Africa and South America. Concordia has an extensive exploration portfolio in the resource-endowed regions of Burkina Faso and the Democratic Republic of Congo (the "DRC"), with a land package in Africa totalling approximately 8,500 km2. In addition, Concordia has acquired an option to purchase 100% of the historic La Providencia silver mine located in the Puna of northwestern Argentina and has also acquired an option to purchase the 14,000 ha Cerro Amarillo-Cajon Grande copper-gold-molybdenum property located in the Malargüe District of Argentina. The Company has an experienced management team and board of directors with extensive expertise across the globe.

On behalf of the Board of Concordia Resource Corp.

R. Edward Flood, Chairman

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the British Columbia Securities Act. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions, identify forward-looking information. The forward-looking information relate to, among other things, the receipt of necessary permits to conduct exploration and construction, timing of anticipated exploration program and results of current exploration program, the number of the holes and meters to be drilled and future plans of the Company. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described in each management discussion and analysis. Forward-looking information is in addition based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of metals; appropriate equipment and sufficient labour and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update the forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such information, other than as required by applicable law. Accordingly, readers are advised not to place undue reliance on forward-looking information.

The TSX-V has neither approved nor disapproved the contents of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.

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