CBR Gold Corp.: Three Bluffs 2010 Exploration Program Commences
March 18 2010 - 8:30AM
Marketwired
CBR Gold Corp. (TSX VENTURE: CBG)(FRANKFURT: C3M) ("CBG" or the
"Company") today announces the mobilization of 4 drill rigs for its
aggressive 2010 exploration program at the Three Bluffs high grade
gold deposit in the Committee Bay Greenstone Belt, located
northeast of Baker Lake, Nunavut, Canada.
"The 2010 drill program marks the initiation of our focused
strategy to rapidly advance the Three Bluffs Project," stated John
Williamson, President and CEO of CBR Gold Corp. "This year will
mark the most aggressive exploration project ever conducted within
this project area. The recently announced spin-out transaction will
allow us to focus on our Canadian gold assets through North Country
Gold Corp while preserving the capital structure in Niblack Mineral
Developments Inc. Furthermore the recent commencement of commercial
production at Meadowbank demonstrates the viability of projects in
Nunavut."
The North Country Gold Corp spin out, subject to shareholder
approval, will be advancing the Three Bluffs Deposit. Three Bluffs
hosts a NI 43-101 compliant resource of 2.7Mt at 5.85g/t gold for
508,000 oz gold (indicated) and 1.27Mt at 5.98g/t gold for
244,000oz gold (inferred). This high grade deposit remains open to
depth and along strike.
North Country has completed a seasonal airstrip and has
commenced mobilization of equipment including four diamond drill
rigs by Hercules aircraft. The primary objective for 2010 is a
20,000 metre drill program designed to expand the existing Three
Bluffs resource and identify satellite targets within a 20
kilometer radius of the present resource. The deposit is located
along a 5km segment of the Walker Lake Trend which contains
numerous iron formation horizons totaling in excess of 30 km of
prospective stratigraphy. To date only 1 km representing less than
5% of the gold bearing stratigraphy has been drill tested.
North Country Gold Corp controls one of the largest under
explored greenstone belts within Canada, and has numerous drill
ready high grade gold targets, in addition to those at Three
Bluffs. The gold-rich Committee Bay Greenstone Belt is located
approximately 300 kilometres north of Baker Lake within Nunavut
Territory, Canada. CBR Gold Corp is currently the 100% beneficial
owner of the mineral rights to approximately 557,323 acres (225,569
hectares) of land comprising 216 active mineral claims and 14
mineral leases.
Nunavut is geologically well-endowed with multiple gold bearing
greenstone belts host to several world class, advanced exploration,
development and production projects. Including Agnico-Eagle Mines
Limited's Meadowbank project located approximately 70 kilometres
south of the Committee Bay Greenstone Belt.
CBR Gold Corp. is a member of the Discovery Group of companies,
for more information on the group visit www.discoveryexp.com.
On behalf of the Board
CBR Gold Corp.
John Williamson, President, CEO & Director
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration
drilling, exploitation activities and events or developments that
the company expects are forward looking statements. 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 the
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,
continuity of mineralization, uncertainties related to the ability
to obtain necessary permits, licenses and title and delays due to
third party opposition, changes in government policies regarding
mining and natural resource exploration and exploitation, and
continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected in the forward-looking statements. For more information
on the Company, investors should review the Company's continuous
disclosure filings that are available at www.sedar.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."
Contacts: CBR Gold Corp. Brian Budd Director of Corporate
Development 604-646-4525 or toll-free 1-888-331-2269
brianb@cbrgoldcorp.com www.cbrgoldcorp.com
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