Caerus Resource: Buritica West Gold Project Approved to Close
December 13, 2011Print PDF
Vancouver, British Columbia – Caerus Resource Corporation (the “Company”) (TSX-V:CA) is pleased to announce the closing of the Buritica West Gold Project in Antioquia, Colombia. The 326 hectare project is strategically located immediately adjacent to the Buritica Project of Continental Gold. Work completed by Continental Gold has identified a significant gold/silver/zinc discovery contained within the Yaragua and Veta Sur vein systems. These west-trending vein systems are located immediately east of the Buritica West Gold Project. The title was registered in at the Ingeomanis Office in Bogota.
The Buritica West Project covers the “Cataclastic Tonalite” phase of the Sabanalarga Batholith, which is the intrusive border phase and is sheared, diked, veined and altered. Work completed to date by Caerus includes a Mobile Metallic Ion soil sample program – an SGS Laboratories proprietary technique. Results have identified zones of gold-silver mineralization immediately west of the Yaragua and Veta Sur vein system locations, within the boundary of the Buritica West Gold Project. These anomalies are located along strike of the respective vein systems under development by Continental Gold. A strong northwest trending anomaly of up to 180 meters wide is located at the San Agustin area in the northern portion of the project, and will likely be the first drill target. A second zone located farther south at the La Mina area is a follow up target. A geological team is currently in the field completing a deep auger program to further define the areas of interest. Only one third of the project has been evaluated and further reconnaissance is planned for the remaining areas. A MAG/IP program is also being scheduled. The Environmental Guide for the project has been completed and drill permits are expected within the month of December.
Mr. Paul Pelke, a Qualified Person under NI 43-101, and a consulting geologist to the Company has reviewed the content of this press release.
On Behalf of the Board of Directors of Caerus Resource Corporation.
Adrian F.C. Hobkirk, President and Chief Executive Officer – adrianh@resourceexploration.com
For further information, contact Adrian Hobkirk at 714-316-3272, toll free 855-894-4524 or email: adrianh@resourceexploration.com or Allan Feldman at AJF Consultants Ltd. at 604-948-9663 or email: AJFConsultants@aol.com.
The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain “ forward- looking statements ” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.
