CALDERA RESOURCES INC.
Advancing Gold Projects in the Republic of Armenia
The Marjan Gold and Silver Project
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, totalling 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 summer work program is to move towards qualifying this significant historical resource.
The Marjan Gold deposit is located in Armenia, some 28 km south-west of the village of Sisian and a 6 hour drive from the capital, Yerevan. Marjan-Caldera Mining LLC (the JV), through its wholly owned subsidiary Marjan Mining Company LLC, holds a twenty-five year “special mining license” for the Marjan property. The license was issued April 22, 2008 and expires April 22, 2033. The license area covers approximately 18.5km2.
The Marjan deposit has a Soviet-era mineral resource, categorized as C1 and C2, of 4.77 million tonnes grading on average 2.64 g/t Au and 92.67 g/t Ag. This translates to approximately 405,000 oz of gold and 14.2 million oz of silver. There are an additional 3.211 million tonnes grading on average 2.35 g/t Au and 93.42 g/t Ag. This translates to approximately 243,000 oz of gold and 9.6 million oz of silver. The combined resource is approximately 647,000 oz of gold and 23.8 million oz of silver.
The data presented below was referenced from Poghosyan N. F. 1995 Marjan Gold – Silver – Polymetalic Property, State Committee for Reserves of Armenia, Sisian Geological Exploration Group, Yerevan, Armenia.
| 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 |
*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.
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”.