|By Marketwired .||
|March 12, 2014 06:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 03/12/14 -- Crocodile Gold Corp. (TSX: CRK)(OTCQX: CROCF)(FRANKFURT: XGC)("Crocodile Gold" or the "Company") reports on high-grade intersections from drill holes completed on the Phoenix and Lower Phoenix structures at the Fosterville Gold Mine (FGM) in the State of Victoria, Australia. Highlights of the drilling include:
Phoenix Structure Drill Intercepts
-- 12.66 g/t Au over 6.90m (ETW(i) 5.40m) in hole UDH0501 -- 6.40 g/t Au over 9.65m (ETW 7.90m) in hole UDH0503 -- 10.41 g/t Au over 5.30m (ETW 3.80m) in hole UDH0505 -- 6.00 g/t Au over 15.90m (ETW 11.70m) in hole UDH0750
Lower Phoenix Structure Drill Intercepts
-- 24.00 g/t Au over 33.80m (ETW 7.00m) in hole UDE110 -- 32.86 g/t Au over 3.60m (ETW 3.00m) in hole UDH0561 -- 12.89 g/t Au over 14.35m (ETW 8.00m) in hole UDH0575 -- 19.15 g/t Au over 6.85m (ETW 6.30m) in hole UDH0617 -- 16.67 g/t Au over 11.90m (ETW 8.60m) in hole UDH0643 -- 122.35 g/t Au over 6.80m (ETW 6.60m) in hole UDH0755
(i)ETW - Estimated True Width. Full drill results can be found in Table 1
2013 Phoenix and Lower Phoenix Drilling Program
The Company's 2013 drilling campaign at Fosterville Gold Mine targeted known estimated Mineral Resources associated with the Phoenix and Lower Phoenix structures as well as extension opportunities, believed to provide excellent potential for Mineral Resource growth. Progressive drilling and geological modeling of the Phoenix Fault System has confirmed the presence of two favourable structural zones (Phoenix and Lower Phoenix) below the 4500mRL, which host significant gold mineralization. Both the Phoenix and Lower Phoenix Zones are proximal to fold axial plane offsets along the Phoenix Fault System.
Lower Phoenix Structure
Crocodile Gold has drilled 225 metres south along strike (down plunge), 275 metres north along strike (up plunge) and 75 metres down dip from the existing Lower Phoenix estimated Mineral Reserve (See Figures 1, 2, 3 & 4). Drill results have provided evidence that significant gold mineralization associated with the Lower Phoenix structure is continuous over a 1 kilometre strike length and an approximate 100 metre down dip length, between Mine Grid northings 6700mN and 7700mN. Drill intercepts that fall outside of the current estimated Mineral Reserve and that, in management's view, present opportunity for Mineral Resource extension are reported in Table 1. Drilling is absent south of 6700mN and there is no drilling north of 7700mN for a distance of 500 metres on the Lower Phoenix structure. Crocodile Gold expects to complete additional drilling in 2014 south of 6700mN and north of 7700mN along the interpreted orientation of the Lower Phoenix structure, where there is potential to define further zones of significant gold mineralization.
Crocodile Gold has also continued definition drilling into the Phoenix structure during 2013. Drill results continue to reaffirm good continuity of the known estimated Mineral Resources in this area (see Figures 1, 2 & 3). There is no drilling on the Phoenix structure south of 6500mN for a distance of 450 metres in strike length. The Company expects to complete additional exploration drilling on the Phoenix structure south of the 6500mN during 2014. Crocodile Gold currently has three underground diamond drill rigs conducting work on various targets at Fosterville Gold Mine.
Progressive geological modeling and mining studies on both the Phoenix and the Lower Phoenix mineralized structures have resulted in the development of two independent mining areas, Central and Phoenix (See Figures 2, 3 & 4). The Central decline will continue to provide access to the existing Phoenix estimated Mineral Reserves and southern estimated Mineral Resource extensions, which are now the subject of upcoming reserve studies. The Phoenix decline development, which commenced in February 2013, will provide access to the Lower Phoenix Mineral Reserve. Anticipated resource extensions north and south of the Lower Phoenix estimated Mineral Reserve will also be accessed from this decline. Ventilation upgrades are ongoing throughout 2014, to service the future operation of the Central and Phoenix mining areas.
Rodney Lamond, President and CEO of Crocodile Gold, commented on the recent results: "The Company continues to focus its exploration strategy on near-term drilling targets as part of our planning for sustainable production and I am very encouraged with the recent drilling results from the Phoenix exploration program. The results confirm the down plunge extension of the Phoenix orebody and suggest that we may be able to extend our current Life of Mine (LOM) plans. In addition, the mineralization appears to separate into two distinct mining zones: the Phoenix and Lower Phoenix ore zones. As the mining focus moves towards these new ore zones, the Company has already commenced a $4.5 million underground ventilation upgrade that will service the growing Phoenix orebody and facilitate the increased mining activity on the two new mining horizons."
The Company is in the process of updating its Mineral Reserve and Mineral Resource estimate at Fosterville, which will incorporate the encouraging drill results obtained throughout 2013. The work is expected to be finalized in the second quarter and management is optimistic that additional estimated Mineral Resources identified will continue to extend the mine life of Fosterville.
About Fosterville Gold Mine
FGM commenced commercial production in April 2005 and up to the end of December 2013 has produced 771,266 ounces of gold. The ore is refractory and gold is recovered through a state-of-the-art BIOX® processing plant that produces approximately 90,000 to 100,000 ounces annually. The mill is capable of processing approximately 830,000 tonnes of ore annually.
F. W. Nielsen, P. Geo, a technical consultant to Crocodile Gold Corp., Troy Fuller, Geology Manager and Simon Hitchman, Exploration Manager of Fosterville Gold Mine are "qualified persons" as such term is defined in National Instrument 43-101 and have reviewed and approved the technical information and data included in this press release.
All diamond drill hole collars (Table 2) are accurately surveyed using a Leica Total Stations instrument and down hole deviations are also verified by electronic multi-shot cameras. All equipment is regularly calibrated.
Drill samples were assayed at On Site Laboratories in Bendigo, Victoria. Assay results are based on 25 gram charge fire assays. All reported intersections are from NQ2 sized diamond drill core that was cut longitudinally in half with a diamond saw. One half of the drill core was sent for assay and the other half retained for reference. Drill core sample intervals are determined using logged sulphide controls, vary between 0.3 and 1.5m in length.
Mean grades have been calculated using a variable lower cut-off (generally 2 g/t Au) and maximum 2m internal dilution. No upper gold grade cut has been applied. All intersections are down-hole intervals. Assay QA/QC for these drill holes was checked and verified through the use of blind and laboratory standards, laboratory duplicates, repeats and insertion of blind blanks. Between laboratory jobs barren flushes are carried out to remove job to job contamination. QAQC results are within expected limits. Drill intercepts containing visible gold are annotated in Table 1.
About Crocodile Gold
Crocodile Gold is a Canadian gold mining and exploration company with three operating mines in the Northern Territory and the State of Victoria, Australia. The Company has a combined land package in excess of 4,000 sq. km. The objective of Crocodile Gold is to continue production from its three operating mines, Cosmo, Stawell and Fosterville, while also exploring and developing the Company's resources to ensure sustainable production in the future. For additional information, please visit our website www.crocgold.com.
Follow us on Twitter @crocgold_crk or Facebook www.facebook.com/CrocodileGoldCorp.
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company's expectations for future performance based on current drill results and past production, expected gold prices, and mineral resource and reserve estimates, and are based on Crocodile Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold's inability to obtain required mine licences, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events that could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
To view the tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/933019tab.pdf
To view the figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/933019i.pdf
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Jan. 19, 2017 07:45 AM EST Reads: 4,216
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Jan. 19, 2017 07:45 AM EST Reads: 6,318
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, 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. @ThingsExpo New York Call for Papers is now open.
Jan. 19, 2017 07:30 AM EST Reads: 3,622
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Jan. 19, 2017 07:15 AM EST Reads: 3,785
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
Jan. 19, 2017 07:00 AM EST Reads: 1,204
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...
Jan. 19, 2017 07:00 AM EST Reads: 5,032
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.
Jan. 19, 2017 07:00 AM EST Reads: 2,001
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 19, 2017 06:45 AM EST Reads: 4,212
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
Jan. 19, 2017 06:45 AM EST Reads: 449
@ThingsExpo has been named the ‘Top WebRTC Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @ThingsExpo ranked as the number one ‘WebRTC Influencer' followed by @DevOpsSummit at 55th.
Jan. 19, 2017 06:00 AM EST Reads: 4,755
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Jan. 19, 2017 06:00 AM EST Reads: 825
SYS-CON Events announced today that Enzu 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, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
Jan. 19, 2017 06:00 AM EST Reads: 1,585
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Jan. 19, 2017 05:30 AM EST Reads: 1,894
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Jan. 19, 2017 05:15 AM EST Reads: 5,079
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
Jan. 19, 2017 04:15 AM EST Reads: 3,455