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.

Peter Main
Interim President and CEO
[email protected]

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
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.
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 development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. DevOpsSUMMIT at CloudEXPO expands the DevOps community, enable a wide sharing of knowledge, and educate delegates and technology providers alike.
According to the IDC InfoBrief, Sponsored by Nutanix, “Surviving and Thriving in a Multi-cloud World,” multicloud deployments are now the norm for enterprise organizations – less than 30% of customers report using single cloud environments. Most customers leverage different cloud platforms across multiple service providers. The interoperability of data and applications between these varied cloud environments is growing in importance and yet access to hybrid cloud capabilities where a single appl...
@CloudEXPO and @ExpoDX, two of the most influential technology events in the world, have hosted hundreds of sponsors and exhibitors since our launch 10 years ago. @CloudEXPO and @ExpoDX New York and Silicon Valley provide a full year of face-to-face marketing opportunities for your company. Each sponsorship and exhibit package comes with pre and post-show marketing programs. By sponsoring and exhibiting in New York and Silicon Valley, you reach a full complement of decision makers and buyers in ...
In today's always-on world, customer expectations have changed. Competitive differentiation is delivered through rapid software innovations, the ability to respond to issues quickly and by releasing high-quality code with minimal interruptions. DevOps isn't some far off goal; it's methodologies and practices are a response to this demand. The demand to go faster. The demand for more uptime. The demand to innovate. In this keynote, we will cover the Nutanix Developer Stack. Built from the foundat...
"NetApp's vision is how we help organizations manage data - delivering the right data in the right place, in the right time, to the people who need it, and doing it agnostic to what the platform is," explained Josh Atwell, Developer Advocate for NetApp, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Sold by Nutanix, Nutanix Mine with Veeam can be deployed in minutes and simplifies the full lifecycle of data backup operations, including on-going management, scaling and troubleshooting. The offering combines highly-efficient storage working in concert with Veeam Backup and Replication, helping customers achieve comprehensive data protection for all their workloads — virtual, physical and private cloud —to meet increasing business demands for uptime and productivity.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin, ...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In their Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, and Mark Lav...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settl...