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Caldera Drill Results Continue to Confirm Soviet-Era Resource on
Marjan Gold-Silver Project
Symbol: tsx-v: CDR
Shares: 56,643,369
Montreal, April 6, 2011 – Caldera Resources Inc. reports that it has received interim results from
partial assays of its drill program for the Marjan Gold-Silver Project. Of note, silver results
include 451 g/t silver, 1.29 g/t gold and 8.19% lead and zinc over 2m in MC-05-10; 50.2 g/t
silver, 2.01 g/t gold and 11.10% lead and zinc over 1m in MC-11-10; 45 g/t silver, 0.66 g/t gold
and 5.52% lead and zinc over 2m in MC-01-10; Gold results include 2.29 g/t gold, 3.87 g/t silver
over 3m in MC-09-10 and; 3.19 g/t gold and 15.6 g/t Silver over 1m in MC-10-10, and; 2.68 g/t
gold and 18.9 g/t silver over 2m in MC-07-10. The Marjan Gold-Silver Project is a gold-silver-
polymetallic vein system with both epithermal and mesothermal characteristics and is associated
with a hydrothermal alteration profile including clay, sericite, and silica/pyrite alteration phases.
Bill Mavridis, President and CEO of Caldera commented, “We continue to generate results that
contribute to the confirmation of the Soviet-era historical resource on the Marjan Gold-Silver
project. The Central Zone, which has been the focus of this initial phase of drilling, contains
Soviet-era historical resources, categorized as C1 and C2, of 405,000 oz of gold, 14 million oz of
silver. The Central Zone also contains Soviet-era historical resources classified as P1, of 242,696
oz of gold and 9.6 million oz of silver. We anticipate that by the end of our planned drilling
program, we can start confirming a qualified resource under NI 43-101. To assist us in meeting
this objective, we have also engaged services SGS Geostat Ltd.”
This was the initial phase of drilling of the Marjan Gold-Silver project, with 14 holes drilled on
the Marjan Central zone and two holes drilled on the Clastic Unit on the Marjan North zone. Full
assay results for holes MC-06-10 and MC-08-10 on Marjan Central have been received, and
partial results for the remaining 12 holes on Marjan Central are herein presented. Remaining
assays for the Marjan Central drill holes as well as the Clastic Unit drill holes will be reported as
they are received.
Jim Steel, MBA, P.Geo and VP Mining and Development commented: “The program was
successful in confirming the locations of the veins from Soviet data, but the high variability of
both precious and base metal values presuppose a potential structural basis for the distribution of
mineralization within the vein and associated alteration horizons. Of interest is the presence of
manganese in the greatest quantities seen thus far, not just for the geochemical impact on metals
distribution, but also for the chance of adding value to the other metals.”
The next phase of exploration at Marjan Gold-Silver project will in part address these issue with
specifically targeted drill holes designed to build on results achieved to date.
In an effort to strengthen its field operations in Armenia, Caldera has engaged the services of
GeoValls Consulting, represented by Mr. Ricardo Valls, M.Sc, P.Geo, who is the author of the
original NI43-101 report on the Marjan Gold-Silver project. Mr. Valls, P.Geo, obtained his B.Sc.
and M. Sc degrees from Moscow, Russia and he is fluent in Russian. This language skill set will
also improve Caldera’s communication capabilities in Armenia. Mr. Valls, P.Geo, has been
engaged to review the work done to date, update the exploration program and confirm drill targets
for the planned summer drill program. Additional assay results are expected to be available by
the end of May 2011, prior to the continuation of Caldera’s drill program.
Mr. Valls is also completing a geochemical survey using enzyme leach analysis on the Clastic
Unit, a prospective gold target that lies in an underexplored area of the concession, located
between the Central and Northern Zones.
As mentioned above, Caldera also engaged SGS Geostat Ltée, of Blainville, Quebec, (part of
SGS Canada Ltd) to review the results of the 2010 exploration program and update the project NI
43-101 report and also engaged SGS Lakefield to prepare a mineralogical report for Caldera.
Results of the mineralogical reports will be announced shortly.
A summary of the drill results and comments are posted below.
Caldera has also modelled vein exploration values from historic Soviet works in Datamine Studio
3. The Company will use this data together with drill values received so as to plan a drilling
program with the goal of defining an inferred resource over a large portion of the defined vein
extent, with a possible indicated resource in specific mineralized areas. This work is ongoing.
The exploration program is designed to confirm Historical Soviet-Era data. These historical
estimates are presented for historical reporting and to provide a basis for assessing Caldera’s
choices for its business activities. A qualified person has not done sufficient work to classify the
historical estimate as current mineral resources and the historical estimate should not be relied
upon or understood to indicate the existence of reserves or resources.
The Marjan Gold-Silver Project The Marjan Gold-Silver Project is a high-grade gold and silver epithermal vein system, with three
distinct zones. The Marjan Central Zone consists of multiple anastomosing silicified veins in a
zone of propylitic and argillic alteration some 500m wide east-west and over some 900m
vertically. The Marjan North Zone consists of parallel sulphide veins and alteration zones that
outcrop over a 400m by 400m area as well as a potentially mineralized clastic unit some 1.6km
long by some 600m wide.
Historical Soviet-era Resources at the Marjan Gold-Silver Project The Marjan Central zone was extensively explored between 1964 and 1989, and has Soviet-era
GKZ standard resources as outlined below:
Historical Resources Marjan Central Zone only tonnes Gold Silver Gold oz Silver oz ------------------- --------- -------- --------- ------- ---------- C1 and C2 resources 4,772,757 2.64 g/t 92.67 g/t 405,147 14,211,588 P1 resources 3,211,843 2.35 g/t 93.42 g/t 242,696 9,647,922
The Marjan Northern zone was explored between 1991 and 1992 by the Sissian Geological
Exploration Group, and published by the State Committee for Reserves of Armenia, Yerevan, has
historical Soviet-era GKZ standard resource, as follows:
Historical Resources Marjan Northern Zone only tonnes Gold Silver Gold oz Silver oz ------------------- -------- -------- ---------- ------- ---------- P1 resources 5.77M 2.18 g/t 148.46 g/t 404,456 27,543,865
The total C1 and C2 historical resources of the Marjan Gold-Silver project outlined above are
equal to 405,147 oz of Gold and 14.2M oz of Silver. The total P1 historical resources of the
Marjan Gold-Silver project are equal to 647,152 oz of Gold and 37.1M oz of Silver.
Mr. Ricardo Valls, P.Geo., independent geologist for Caldera reviewed the Marjan Gold-Silver
Project. The NI 43-101 Technical Report on the project was filed on SEDAR on June 17, 2010
and can also be viewed on our website at www.calderaresources.com .
Qualified Person
Mr. Jim Steel, MBA, P.Geo., VP Mining and Development for the Company, is the Qualified
Person for the information contained in this press release and is a Qualified Person within the
meaning of NI 43-101.
Drill Results
Drill Hole Result Comments
MC-01-10 Azimuth 292
Dip -60
Length 292m
Partial assays received for intervals 12m
to 25m; 105m to 126.5m; and 144m to
149m.
45.0 g/t Ag, 0.66 g/t Au, 1.81% Zn,
3.71% Pb, over 2 meters from 22m to
24m in a faulted zone with clay alteration
over silica flooded sericitized andesite
porphyry.
Holes MC-01-10 and MC-02-10
were reconnaissance drillholes
designed to test Vein 1a below the
most southerly exposure of
alteration in surface roadcuts.
Both holes were abandoned before
reaching the target because of a
lithological change from andesite
porphyry intrusives known to be
the host of previously defined
mineralization at higher
stratigraphic levels to a diorite
porphyry dike. Broad
hydrothermal alteration was seen
in both holes 1 and 2 overprinting
both rock units and appeared
consistent with alteration facies
seen approximately 900m higher
at trench 2 and drill hole 8
MC-02-10 Azimuth 310
Dip -48
Length 158.5m
Partial assays received for intervals 4m
to 22m; 113m to 140m; and 152m to
158.5m
NSV for Gold and Silver in the alteration
zone; 1.67% Mn over 15m, from 5.0m to
20m in the alteration zone and 1.58% Mn
over 3m between 134m and 137m
Drill Hole Result Comments
MC-03-10 Azimuth 318
Dip -60
Length 155.5m
Partial assays received for intervals 1m
to 110.8m and 145.5m to 155.5m.
Partial samples returned no significant
values (NSV). Samples from the target
zone are still pending.
Hole 3 was targeted to hit the
Vein 1a longitudinal at the
approximate elevation of 2375m.
Alteration and pyrite
mineralization consistent with the
hanging wall alteration facies was
intersected in a fault zone at the
target depth of 125m, but no
sulphides other than pyrite were
observed.
MC-04-10 Azimuth 240
Dip -65
Length 288.5M
Of the 288.5m sampled, the only samples
received cover the intervals 112m to
122m and 273.5m t o 280.7m.
Hole 4 was targeted at the
longitudinal section of Vein 1a
underneath a series of Soviet
surface trenches that returned
highly anomalous silver grades,
followed by testing the downdip
extent of a wide band of alteration
seen on surface road cuts between
Vein 1a in outcrop and Vein 2 in
outcrop, some 35m away.
Samples pending
MC-05-10 Azimuth 060
Dip -60
Length 160m
Partial assays received: 81.3m to 97.6m;
113.8m to 127.8m
1.29 g/t Au, 451 g/t Ag, 0.33% Cu,
5.02% Zn, 3.16% Pb over 2m between
82.3 to 84.3.
Hole 5 was drilled to hit Vein 8,
the most easterly vein at the
Marjan Central property. The
Vein 8 hanging wall alteration
was intersected at 81.3m to 82.3m
with Vein 8 at 82.3m to 84.3m, as
noted above. The vein was
intersected at approximately
2375m elevation, and showed
semi-massive to net textured
sulphides over 0.6m, with pyrite,
chalcopyrite, galena, and
sphalerite noted.
MC-06-10 Azimuth 268
Dip -52
Length: 55.5m
Full assays received
1.77% Mn over 12.8m between 17.1m to
29.9m
Hole 6 was designed to test Vein
1a between Adit 2 at
approximately 2435m and the
surface roadcut exposure at
2475m. The hole was stopped
prematurely when it hit the Adit 2
crosscut.
Drill Hole Result Comments
MC-07-10 Azimuth: 240
Dip -65
Length 150m
Partial assays received: 2m to 20m;
120m to 127m.
2.68 g/t Au, 18.94 g/t Ag, 1.19% Mn,
over 2m between 123 to 125.
Assays for the target zone have not yet
been returned.
Hole 7 was targeted to intersect
vein 2 below the elevation 2425
so as to give an idea of the
continuity of the vein over a
vertical distance of at least 75m
and a horizontal distance between
two roadcut exposures of
approximately 45m.
MC-08-10 Azimuth: 240
Dip -78
Length: 192m
Full assays received.
Previously stated:
2.59 g/t gold and 164 g/t silver over 7.1m
Intersections for hole 8 have been
previously reported in news
releases of January 12, 2011 and
March 7, 2011.
MC-09-10 Azimuth: 060
Dip: -60
Length: 150m
Partial assays received: 32.4m to 44.8m
and 102.5m to 118.5m.
2.28 g/t gold and 3.83 g/t silver over
3.0m from 103.5m to 106.5m within an
interval of 0.94 g/t gold and 4.65 g/t
silver over 12m, from 103.5m to 115.5m
Partial samples returned; Within
this interval, seven of 11 samples
carried overlimit (>1.0%)
manganese.
MC-10-10 Azimuth: 240
Dip: -60
Length: 285m
3.19 g/t gold and 15.6 g/t silver, 4.36%
manganese over 1m from 273m to 274m
Partial assay results 261.5 to 274,
for hole 10. Best assay 4.36%
manganese over 1m from 273m
to 274m at the limit of received
sampling, so this result is open to
the footwall.
MC-11-10 Azimuth: 240
Dip: -60
Length: 130m
Partial assays returned: 3m to 8m and
107m to 112m.
The vein carried 50.2 g/t silver, 2.01 g/t
gold, 3.43% zinc, and 7.67% lead.
Hole 11 drilled vein 3, which was
intersected with hanging wall and
footwall alteration between 108m
and 111m. Galena, sphalerite and
pyrite were seen in clusters in the
groundmass as well as in veinlets
and disseminations within the
vein, between 109m and 110m.
Drill Hole Result Comments
MC-12-10 Azimuth: 240
Dip: -75
Length: 198.5m
Partial assays received: 3m to 6m; 64.3m
to 68.3m; and 181m to 191m.
10.1 g/t silver with NSV gold over 1.0m
No significant values in assays
received in hole 12 thus far.
MC-13-10 Dip: -60
Azimuth: 240
Length: 249.5
Partial assays received: 4m to 6m;
188.5m to 193.5
Vein 4 was intersected between
188.5m and 190.5m, with gold
values to 0.477 g/t and silver
values to 6.77 g/t.
MC-14-10 Dip -60
Azimuth 240
Length: 130m
Partial assays received: 14: 83m to 88m
The hole was drilled to intercept
vein 5 below 2300m asl, and hit
the vein at approximately 2288m
asl. NSV
MN-01-10 Dip -60
Azimuth 0
Length: 130m
Pending
Clastic Unit:
Awaiting completion of all assays
to be integrated with Enzyme
Leach study on the Clastic Unit
being prepared by Mr. Ricardo
Valls, M.Sc, P.Geo MN-02-10 Dip -60
Azimuth 290
Length: 130m
Pending
* Drill results are attached to this release as an Appendix and can be found on our website and on
SEDAR.
About Caldera Resources Inc.
Caldera is engaged in advancing its gold and silver exploration project in the Republic of
Armenia. Caldera holds a 55% interest in the Marjan Gold-Silver project with a purchase
obligation to acquire 100% of the project from Global Gold Corporation, by making certain
payments by December 2012. You can learn more about the Company’s projects by watching
recent interviews on our website www.calderaresources.com.
For additional background information and details relating to the Joint Venture, please see our
press releases of October 12, 2010, October 22, 2010, November 21, 2010 and March 1, 2011 on
our website or on SEDAR.
Cautionary Statement
The forward-looking statements contained in this release are subject to certain risks and
uncertainties that could cause actual results to differ materially from the statements made. Former
Soviet country estimates are presented for historical reporting and to provide a basis for assessing
Caldera’s choices for its business activities. A qualified person has not done sufficient work to
classify the historical estimate as current mineral resources and the historical estimate should not
be relied upon or understood to indicate the existence of reserves or resources.
Additional information related to the Corporation is filed electronically on the System for
Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of
Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Caldera Resources Inc.
Bill Mavridis
President and CEO
Direct Line: 514-813-9200