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
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International 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 wait for long developm...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.