Commander Announces Completion of Drill Program on South Voisey's Bay
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2017) - Commander Resources Ltd. (TSXV: CMD) and project partner Fjordland Exploration Inc. announce that they have completed the 2017 drill program on their South Voisey's Bay Ni-Cu-Co project located 80 km south of Vale's Voisey's Bay Nickel mine. The original drill plan was expanded from 1000 m to a total of 1469 m in 8 holes. Drilling tested a number of geophysical conductors outlined by UTEM 3 surveys completed in 2014 and 2002. (see News Release dated September 21, 2017). All holes are currently being surveyed by downhole geophysical probes to document existing conductors and test for additional "off hole" conductors. Detailed geological core logging and sampling is ongoing and selected intervals will be submitted for analyses. Assays will be reported upon receipt and compilation.
Subject to permitting the company intends to leave the drill rig on site over the winter in anticipation of additional drilling in 2018.
Upon completion of this program, Fjordland will have increased its ownership from 15% to 35% in this district scale property (294 sq km). An affiliate of High Power Exploration Inc. ("HPX") has an option to fund, on behalf of Fjordland, up to $7.4 million in exploration expenditures and to make $290,000 of property payments to Commander. When completed Fjordland would have earned a 100% interest in the South Voisey's Bay project whereupon Fjordland would assign a 65% project interest to HPX. The terms of the transaction were originally announced on August 28, 2017.
Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101, and has read and takes responsibility for the technical aspects of this release.
About Commander Resources:
Commander Resources is a Canadian focused exploration company that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. Commander has a portfolio of base and precious metal projects across Canada and significant equity positions in Maritime Resources Corp. and Aston Bay Holdings. Commander also retains royalties from properties that have been partnered, optioned or sold.
On behalf of the Board of Directors
Robert Cameron, P. Geo.
President and CEO
For further information, please call:
Robert Cameron, President and CEO
Toll Free: 1-800-667-7866
info@commanderresources.com
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.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
