caldera drill results continue to confirm soviet-era resource on … · as mentioned above, caldera...

Caldera Drill Results Continue to Confirm Soviet-Era Resource on

Marjan Gold-Silver Project

Symbol: tsx-v: CDR

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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


Dip -48

Length 158.5m


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

http://www.calderaresources.com/



Dip -60

Length 155.5m


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.


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


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.


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.


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.


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.


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.


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.


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.



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

[email protected]

Direct Line: 514-813-9200

mailto:[email protected]

Appendix

Interim Drill Results, Marjan Gold-Silver Deposit, Republic of Armenia

Appendix B

Marjan Gold-Silver Project Map and Drill Targets

caldera drill results continue to confirm soviet-era resource on … · as mentioned above, caldera...

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