Alder Resources Ltd. ("Alder" or the "Company") recently completed a site visit with the primary goal of collecting additional site engineering data that could be incorporated into a Preliminary Economic Study of the current stockpile inferred mineral resources of 7.95 million tonnes averaging 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag.
In conjunction with the site visit, Alder staff visited the El Rastro artisanal gold mine located approximately 1.5 kilometres of the Rosita Mine stockpiles. At this site, numerous chalcocite-coated fracture surfaces were observed, at a depth of approximately 5 metres, below a zone of distinctly hematized and leached garnet skarn cover rocks. Chalcocite is approximately 80% copper by weight and was an important component of the historic Santa Rita mine that produced 5.4 million tonnes grading 2.06% Cu, 0.93 g/t Au and 15.08 g/t Ag*. With this discovery, Alder Management considers the El Rastro site to be a priority drill target. The target area appears to be approximately 100 to 125 metres across and corresponds with area where leached and hematized garnet skarn rocks were observed.
Alder has also entered into a shares-for-debt settlement agreement whereby Alder will issue 993,740 common shares at a deemed price of five cents per share in full settlement of dated accounts payable in the amount of $49,687 owing to a former officer of Alder. The shares-for-debt settlement is subject to the approval of the TSX Venture Exchange.
*Historical production on Santa Rita has been outlined in the Technical report dated January 5, 2012 and titled Technical Report on the Copper-Gold-Silver Porphyry/Skarn Project at the Rosita D Concession prepared by G.S. Carter, P.Eng. The Report can be found at the company's website or at www.sedar.com.
About Alder Resources Ltd.
Alder is a resource company focused on the development of gold and base metal projects throughout the Americas. Alder's current high priority Cu-Au-Ag porphyry target is the Rosita project in Nicaragua located 275 kilometres northeast of Managua. The company has current Inferred mineral stock pile resources of 7.95 million tonnes grading 0.62% Cu, 0.46 g/t Au and 9.21 g/t Ag with numerous zones that have good near term potential to add to and enhance these resources. See the technical report entitled "Rosita Cu-Au-Ag Project, RAAN, Nicaragua, NI 43-101 Technical Report on Mineral Resource Estimate of Rosita Stockpiles" effective as of May 8, 2012, which is available under the Company's profile at www.sedar.com.
In August 2011, Alder entered into an option agreement to acquire a 65% interest in the Rosita D concession from Calibre Mining Corp. by issuing 1,000,000 shares and incurring expenditures of $4,000,000 over four years. To date Alder has incurred approximately $3.5 million of the $4.0 million obligation and has until October 2015 to incur the remaining project expenditures.
For additional information, please visit our website at www.alderresources.ca and follow us on Facebook, Linked in and Twitter: @AlderResources.
Don Dudek, P. Geo., Alder's President and CEO and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release.