Canadian Orebodies Announces Carlisle Drill Program at Farley Lake Mine Project Underway
December 12 2013 - 12:00PM
Marketwired
Canadian Orebodies Announces Carlisle Drill Program at Farley Lake
Mine Project Underway
TORONTO, ONTARIO--(Marketwired - Dec 12, 2013) - Carlisle
Goldfields Limited (TSX:CGJ) ("Carlisle" or the "Company") and
Canadian Orebodies Inc. (TSX-VENTURE:CO) ("Orebodies") are pleased
to announce that a 3,600 metre ("m") drill program is well underway
at the Farley Lake Mine Project ("Farley Lake") in the Lynn Lake
Gold Camp ("Lynn Lake"), Manitoba. Pursuant to the option agreement
as announced on November 13, 2013, Orebodies is earning a 10%
interest in Farley Lake by funding the $800,000 drill program.
The 3,600 m drill program will be focused on in-fill drilling of
approximately 18 holes with the intention of upgrading the Farley
Lake resource estimate. Currently Farley Lake has a NI 43-101
resource estimate totaling 610,000 ounces ("oz") of gold ("Au") in
the indicated category grading 3.21 grams per tonne ("g/t") and
403,000 ozs Au in the inferred category grading 2.87 g/t.
Bruce Reid, President and CEO of Carlisle states that: "In-fill
drilling will be focused within the 800 metre strike length of the
existing NI 43-101 compliant resource. We intend to move forward
with ensuring the Farley Lake resource is upgraded so we can
continue to plan for feasibility-level studies. We expect to have
the first batch of drill results back early in the New Year."
To view the maps accompanying this press release please click on
the following link:
http://media3.marketwire.com/docs/CO1212.pdf
Quality Assurance
Peter Karelse, P.Geo., VP Exploration of Carlisle is a Qualified
Person under the terms of NI 43-101 and has reviewed the technical
content of this press release on behalf of the Company and approved
its dissemination.
About Carlisle: Carlisle Goldfields Limited is a Canadian‐based
gold exploration and development company focused on development of
its Lynn Lake Gold Camp in the Lynn Lake Greenstone Belt of
Northern Manitoba, covering approximately 28,727 hectares, which
includes the former MacLellan Gold mine and two other former
producing gold mines as well as numerous other historically
identified gold zones, all within close distance of the town of
Lynn Lake, Manitoba. Carlilse now has five NI 43-101 compliant
resource estimates within its Lynn Lake Gold Camp. Further details
including technical reports are available on SEDAR (www.sedar.com)
or carlislegold.com/resource-summary.php. In December 2013,
Carlisle released a positive Preliminary Economic Assessment
highlighting a Pre-tax NPV of $625 million (using a 5% discount
factor) and an IRR of 34.4%. (Please see press release dated
December 2, 2013 or carlislegold.com/pea.php)
About Canadian Orebodies: Canadian Orebodies is a Canadian-based
mineral exploration company with a portfolio of properties in
Nunavut, Ontario, and Manitoba. Canadian Orebodies trades on the
TSXV under the symbol "CO". For more information please visit
www.canadianorebodies.com.
This press release shall not constitute an offer to sell or
solicitation of an offer to buy the securities in any jurisdiction.
The Company's shares and other securities have not been and will
not be registered under the United States Securities Act of 1933
and may not be offered or sold in the United States absent an
applicable exemption from the registration requirements.
Except for statements of historical fact contained herein,
the information in this press release may constitute
"forward-looking information" within the meaning of Canadian
securities law. Other than statements of historical fact, all
statements are "forward-looking statements", including the
establishment and estimate of resources, that involve various known
and unknown risks and uncertainties and other factors. There can be
no assurance that such statements will prove accurate. Results and
future events could differ materially from those anticipated in
such statements. Readers of this press release are cautioned not to
place undue reliance on these "forward-looking statements". Except
as otherwise required by applicable securities statutes or
regulation, Carlisle expressly disclaims any intent or obligation
to update publicly forward-looking information, whether as a result
of new information, future events or otherwise.
Neither IIROC nor the TSX accepts responsibility for the
adequacy or accuracy of this release.
Carlisle Goldfields
Limitedinfo@carlislegold.comwww.carlislegold.comNicholas
KonkinInvestor Relations416-642-0869 ext.
353nkonkin@buickgroup.comCanadian Orebodies
Inc.info@canadianorebodies.comwww.canadianorebodies.comJamie
FrawleyInvestor
Relations416-742-5600jfrawley@firstcanadiancapital.com