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Commander Resources Ltd (CMD:CA)
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Web site:
http://www.commanderresources.com
COMMANDER RESOURCES LTD. (TSX-V:CMD) is a diversified junior exploration company with an extensive property portfolio throughout Canada including 100% ownership of the Baffin Island Gold Project, a district-scale property covering an entire greenstone belt approximately 140 kilometres in length.
Under a deal reached last summer, AngloGold Ashanti, the third largest gold producer in the world, agreed, at their option, to fund the next $20 million in exploration on the Baffin Gold Project to earn an initial 51% on the property. The involvement of this major producer has validated our enthusiasm for this potential new gold district. The deal commits AngloGold to spending a minimum of $5.5 million by the end of 2010. They have already exceeded this commitment with this year’s drill program.
Commander’s Baffin Island Gold Project is host to a pipeline of gold zones, prospects and showings, including the advanced Malrok Zone (previously reported drill results include 9.15 g/t Au over 6 m, 12.10 g/t Au over 3 m), Ridge Lake Zone (drill results include 21.4 g/t Au over 4.24 m, 10.17 g/t Au over 4.45 m), and the new Kanosak Prospect which the Company says is a classic example of a large, potentially high-grade gold system that covers at least a 3.5 km by 300 m area. Kanosak was first discovered in 2008 and is being drilled for the first time this year.
A comprehensive 5,500 m drill program is nearing completion on the Baffin property on two prospects (Malrok and Kanosak). Assay results are expected in August.
CMD:CA
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