Tuesday, March 4th, 2008
Tagpura Drill Holes Show Significant Mineralization, Indicate Bulk Porphyry Style Tonnage
Cadan’s TDG 16 Intersects 219.9 Metres @ 0.40% Cu and 0.10 g/t Au and TDG
17 Intersects 193.8 Metres @ 0.30% Cu and 0.05 g/t Au Bulk Tonnage Porphyry
Style Potential Identified
Mar 04, 2008 09:15 ET
VANCOUVER, BRITISH COLUMBIA–(Marketwire – March 4, 2008) – CADAN
RESOURCES CORPORATION (TSX VENTURE:CNF) (the “Company”) is pleased
to announce that drill holes TGD 16 and TDG 17, both located on bench two,
drilling beneath the pit wall at the Tagpura copper gold porphyry deposit, indicate
bulk porphyry style tonnage potential based on significant mineralized
intersections of:-
TDG 16 219.9m @ 0.40% Cu and 0.10 g/t Au from 1.50 to 221.40m (EOH)
TDG 17 193.8m @ 0.30% Cu and 0.05 g/t Au from 1.20 to 195.00m
TDG 16 and TDG 17 were drilled from bench two of the Tagpura open cut on
section, approximately 80m apart and drilled beneath the face of the existing open
pit where previous channel sampling had identified copper mineralization over
some 160m, with values ranging from 500ppm to 6500ppm. Visible molybdenum
was evident throughout TDG 16 and TDG 17.
The results of these drill holes have now confirmed a “new zone of porphyry style
mineralization” within the overall Tagpura porphyry copper gold mineralization
system. This is located about 250m northwest of the high grade skarn style
mineralization recently reported in drill holes TDG 14 and TDG 15.
On-going and future drill holes will continue to test the grade and extent of this
porphyry copper gold style mineralization at depth and along strike.
Qualified Person and Quality Control and Assurance
Technical aspects of this news release were prepared and verified by Ian S.
Cooper, Exploration Manager Philippines who is the Qualified Person as required
by National Instrument 43-101, and who is the technical person responsible for
this news release. The Qualified Person has verified the data disclosed in this
news release, including sampling, analytical and test data underlying the
information and opinions contained in this news release.
Grade intersections have been calculated using the weighted average of all
samples within the intersection length with no values cut.
All sample preparation was undertaken by McPhar Geoservices (Phil) Inc at its
General Santos facility in Southern Mindanao. McPhar is an ISO 9001 certified
laboratory. Drilling samples are pulverized and 200 gram sub samples are sent to
Genalysis Laboratories in Perth, Western Australia for analysis using the FA
50/SAAS method (fire assay with atomic absorption finish) for gold, and
conventional wet chemical methods for copper. Genalysis Laboratories is a NATA
accredited laboratory which operates in accordance with ISO/IEC 17025 (1999)
including the requirements of ISO 9002:1994. The laboratories mentioned above
provide independent analytical services to the Company on normal commercial
terms.
Cadan Resources Corporation is a junior exploration Company with operations in
the Philippines and Colombia and trades on the TSX Venture Exchange (Canada)
with trading symbol CNF-V.
On behalf of the board of directors,
Brett Taylor, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.