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Arbitrator Issues Standstill Order in Caldera vs. Global Gold Dispute
Montreal, Canada – Monday, November 21, 2011 – Caldera Resources Inc. (“the Company” or “Caldera”) and Global Gold Corporation (“GBGD”) received an order on Thursday November 17, 2011, by the Arbitrator presiding over the dispute filed by Caldera against GBGD. The order declares that “there shall be no sale, transfer, pledge, assignment, encumbrance and/or hypothecation” of the shares of Marjan Mining Company, LLC which holds the license to the Marjan Polymetallic Gold and Silver Project (the “Project”) in Armenia.
Latest Corporate Video
Ricardo Valls P.GEO.,M.SC., Geologist and QP for Caldera Resources is interviewed about the the Marjan Project in Armenia and its potential as major Gold Silver Project.
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Caldera Resources – Advancing Gold Projects 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 December 2012. The Marjan project is located in southern Armenia and has Soviet-Era historical resources classified as C1 and C2, which is equivalent to measured and indicated resources, totaling 405,147 oz of Gold and 14.2M oz of Silver. The project also contains Soviet-Era historical resource classified as P1, which is equivalent to inferred resources, totaling 647,152 oz of Gold and 37.1M oz of Silver.
The goal of our current work program is to move towards qualifying this significant historical resource.
According to the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), “C1″ and “C2″ classifications are equivalent to “indicated” and “inferred” resources. Resources identified as “P1″ and “P2″ can be considered in the “Inferred” and “Mineralized Zone” categories respectively, as defined by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) in their document “Estimation of Mineral Resources and Mineral Reserves Best Practices Guidelines”.
Central Zone Tonnes Grade Au Grade Ag Gold oz Silver oz
c1+c2 Measured and Indicated* 4.722 M 2.64 g/t 90.67 g/t 405,147 14,211,588
P1 Inferred* 3.2 M 2.35 g/t 93.42 g/t 242,696 9,647,922
Northern Zone Tonnes Grade Au Grade Ag Gold oz Silver oz
P1 Inferred* 5.77 M 2.18 g/t 148.46 g/t 404,456 27,543,865
Caldera is not the only Canadian listed company operating in the Republic of Armenia. Other mining and mineral exploration companies actively pursuing projects in Armenia include:
Dundee Precious Metals Inc. (TSX: DPM) is currently operating the Deno gold polymetallic (copper, gold and zinc) mine and is planning to double its operations to 600,000 tonnes per year. www.dundeeprecious.com
Lydian International Ltd. (TSX: LYD) is exploring the Amulsar gold discovery where it has already confirmed a measured and indicated resource in excess of one million ounces of gold, and appears poised to increase this resource. www.lydianinternational.co.uk
*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. More details are available on our recently published NI 43-101 Technical Report which can be found on our website and on SEDAR.