News Feed Item

T'boli Mine Update -- Decline Reaches First Ore

VANCOUVER, BC--(Marketwired - September 22, 2016) - Cadan Resources Corporation (TSX VENTURE: CXD) ("Cadan" or the "Company") announces the T'Boli mine decline has advanced 358m and reached first ore on the 540 level crosscut. This is a significant milestone for the Company which reestablishes mechanized access to the first of a series of sub-parallel, stacked, high-grade Gold and Silver enriched epithermal veins for the first time since 2014.

The next mineralized vein is expected to be intersected within two weeks at current mining rates, with ore drive development along three headings planned to commence in October 2016.

Cadan commenced the construction of a new portal and decline access at T'Boli at the start of 2016. The aim of this strategy is to resume underground mine production and processing at a rate of 200 tonnes per day. Following the commencement of ore stoping, which is expected during the December quarter, Cadan is targeting to achieve this production rate in the March quarter 2017.

In parallel, modifications are currently being made to improve the efficiency of the existing 72,000 tonne per annum CIL milling facility. The plant achieved design capacity of +200tpd in February and has been processing lower grade material and tailings at this level in recent months.

Ore mined from the underground development will be stockpiled until early 2017 in order to establish sufficient stocks of mined material to ensure the uninterrupted processing of higher grade material.

The first epithermal vein intersected by the underground development was encountered 27 vertical metres below the lowest level developed in a now decommissioned decline at T'Boli in 2014. The mineralized area was subjected to only wide-spaced diamond drilling and initial sampling of the area provides considerable confidence in relation to reconciliation with the revised geological and mine design model for T'Boli.

Channel sampling of the crosscut side walls by mine geologists that was assayed at T'Boli's on site laboratory returned results of:

  • Western Sidewall: 4.8m at 5.35g/t Au
  • Eastern Sidewall: 3.3m at 3.58g/t Au
  • Average: 4.03m at 4.62g/t Au

Note about channel samples:

The mineralized structure dips approximately 65° to the south, and strikes nearly east-west. The crosscut cuts across the mineralised structure close to a right angle. Channel samples were collected from the east and west wall of the crosscut, approximately perpendicular to the dip. Reported lengths are apparent widths. The channels were taken by marking a horizontal sample line on the wall, and then chipping material from the wall close to the line. The samples were prepared and assayed at the T'boli minesite assay laboratory using 50g fire assay with gravimetric finish. The eastern channel was 3.3m long and was made up of four samples. The longest sample length was 1.2m and the shortest sample length was 0.10m. Four assays were received, and ranged from 1.00g/t Au (sample length 1.0m) to 5.85g/t Au (sample length 1.2m). The western channel was 4.8m long. Six samples were collected and assayed. The sample lengths ranged from 1.0m in length to 0.4m in length. The assay results ranged from 12.20g/t Au (over 1m) to 1.22g/t Au (over 1m).

All silver results from the areas are still pending.

The resource model on which the T'Boli published mineral resource estimate is based models gold grades in this location within a range of 1.2 - 1.5g/t Au, highlighting the positive reconciliation achieved in this first area. A broader oxidized low grade (0.5 - 1.5g/t Au) zone of alteration has been identified through underground channel sampling extending past the main ore vein, which is in line with the current mineral resource model.

Development of the Main Decline to the 515 level continues in accordance with the revised mine design which has been prepared by CSA Global from Perth, Western Australia ("CSA Global"). A site inspection was completed by mining engineering and geological consultants from CSA Global in September 2016 to review progress to date and enable CSA Global to finalize the revised T'Boli Mine model. Cadan expects to receive the final version of the mine model by the mid October 2016. CSA Global's process will also include a revised resource reserve estimate which Cadan also expects to be in a position to release during October.

About CSA Global Pty Ltd

CSA Global is an independent mining, geological, technology and management consulting company servicing the international mining industry for more than 30 years. CSA Global provides multi-disciplinary services to resource industry clients worldwide from its offices in Australia, Indonesia, Singapore, South Africa, Russia, United Kingdom, United Arab Emirates and Canada.

For more information about CSA Global please refer to: www.csaglobal.com

Steve Rose, FAusIMM CP (Geo), a "Qualified Person", within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

On Behalf of the Board,

Peter Main
Interim President and CEO
[email protected]

For further information visit our website at www.CadanResources.com; email us at [email protected]

Phone: 778-370-1372 Fax: 604-608-5442

Neither 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 or accuracy of this release.

Caution Regarding Forward-Looking Statements

This news release contains certain "forward-looking statements". All statements, other than statements of historical fact that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future are forward looking statements. These forward-looking statements reflect the current expectations or beliefs of the Corporation based on information currently available to the Corporation. Such forward-looking statements include, among other things, statements relating to the Corporation's entry into an agreement in respect of the right to earn a 50% undivided interest in the Property and the proposed terms thereof.

Forward looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Corporation. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure to acquire an interest in the Property, or the right to earn an interest in the Property, on the terms currently proposed or at all; the failure to obtain any required regulatory or stock exchange approvals and other factors. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Corporation believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th 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 dev...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?