Welcome!

News Feed Item

Excalibur Resources Ltd.: Cariboo Property Update

TORONTO, ONTARIO -- (Marketwire) -- 02/08/13 -- Excalibur Resources Ltd. ("Excalibur" or the "Company") (CNSX:XBR)(FRANKFURT:X9CN) is pleased to provide an update on its 2012 work program at its Cariboo, Princess and Cleopatra properties in south-eastern B.C., approximately 7 kilometres south of Nelson.

From 2008 to 2011, Excalibur conducted mapping and sampling programs in the area, the results of which lead to a 2011 trenching program. The 2012 trenching and drilling program on the Cariboo property was a continuation of exploration work to follow up positive results from the previous work.

In 2012, Excalibur completed two trenches where four chip samples were taken, and 29 BQTW size diamond drill holes totalling 1,469 metres. Most of this work was designed to fully assess the potential of the gold-silver bearing quartz carbonate vein system described as the Cariboo Vein. A very brief prospecting program was conducted on both the Cleopatra and Princess claims. This included the acquisition of five rock samples from the Princess claim and a single sample from the Cleopatra claim. Samples of rocks taken from some of the old workings on the Princess claim returned elevated copper and gold values, with over 1% copper, 40 grams per tonne silver and 0.4 grams per tonne gold from sample PR12-02. The sample taken from the Cleopatra claim (sample CLEO12-01) did not return any significant values.

The Cariboo Vein extends along strike for approximately 120 metres and down-dip for a distance of 80 metres below surface. This target vein was intercepted numerous times during the 2012 drill program. Many of the multiple intercepts from drilling can be composited into wider intercept widths - intercepts of 2 metres to 5.5 metres width. Diamond drill core sampling assay results indicate a strong correlation between elevated silver and elevated gold values. Mineralization also includes lead, zinc and in places copper. Hole 12Car-16 provided the highest gold value with 11.1 grams per tonne (plus 92 grams per tonne silver) over 1.28 metres. The most significant results were press released on November 29th, 2012 and can be found on www.sedar.com or on Excalibur's web site at www.excaliburresources.ca. The vein is open to depth, and could be explored for its south extent.

Excalibur is one of a number of companies in the region that have found gold including the following immediate neighbours of Excalibur:


--  Sultan Minerals Inc. which has a joint venture with Altair Gold Inc.
    which has 1 million+ measured, indicated and inferred gold ounces. 
--  Valterra Resources Corp. which has a number of gold intercepts including
    4 grams per tonne Au + 9 grams per tonne Ag over 24.3 metres. 
--  Emgold Corp which drilled 1495 metres in 2012 with intercepts including
    11.1 grams per ton gold over 1.45 metres.

Along with much exploration activity this past year, the region also experienced merger and acquisition (M&A) activity. A few kilometers to the north of the Cariboo, Anglo Swiss Resources Inc. recently announced the sale of its Kenville Gold Property to a private company. Sultan Minerals Inc. entered a joint venture on a property neighbouring Excalibur's Cariboo Property. We expect more activity in the region, which not only reflects the difficult financing conditions for junior miners, but also the ample opportunities there. Excalibur's management views this region very favorably where over 5 million ounces of gold and 30 million ounces of silver have been mined, which is not only endowed with minerals and has excellent infrastructure, but is also steeped in mining tradition with an experienced workforce.

Tim Gallagher states that "We are pleased with the results of our 2012 work program, verifying what we had expected. We have just received the final Assessment Report from our consulting geologist on this year's activities. There are now a number of options that we can pursue including bulk sampling, additional exploration, property acquisition, or any combination thereof, but most likely we will await further development by our neighbours as Mexico is our primary focus."

Perry Grunenberg, P.Geo. is a "Qualified Person" for the purpose of National Instrument 43-101, and has reviewed and verified the technical contents of this news release.

Excalibur Resources Ltd. is a junior exploration mining company focused on the discovery, development and mining of economically viable precious metal mineral resources.

On behalf of the Board of Directors:

Tim Gallagher, Chairman & CEO

Neither the Canadian National Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
The financial services market is one of the most data-driven industries in the world, yet it’s bogged down by legacy CPU technologies that simply can’t keep up with the task of querying and visualizing billions of records. In his session at 20th Cloud Expo, Karthik Lalithraj, a Principal Solutions Architect at Kinetica, discussed how the advent of advanced in-database analytics on the GPU makes it possible to run sophisticated data science workloads on the same database that is housing the rich...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
When growing capacity and power in the data center, the architectural trade-offs between server scale-up vs. scale-out continue to be debated. Both approaches are valid: scale-out adds multiple, smaller servers running in a distributed computing model, while scale-up adds fewer, more powerful servers that are capable of running larger workloads. It’s worth noting that there are additional, unique advantages that scale-up architectures offer. One big advantage is large memory and compute capacity...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to ma...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Both SaaS vendors and SaaS buyers are going “all-in” to hyperscale IaaS platforms such as AWS, which is disrupting the SaaS value proposition. Why should the enterprise SaaS consumer pay for the SaaS service if their data is resident in adjacent AWS S3 buckets? If both SaaS sellers and buyers are using the same cloud tools, automation and pay-per-transaction model offered by IaaS platforms, then why not host the “shrink-wrapped” software in the customers’ cloud? Further, serverless computing, cl...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.