CBR Gold announce an updated mineral resource estimate for the Niblack Cu-Au-Ag-Zn project located southwest of Ketchikan on Prince of Wales Island in southeast Alaska. The resource upgrade utilizes new metallurgical recoveries in the Net Smelter Return (NSR) calculation, which results in an increase of 316,000 tonnes of Indicated mineral resource and 210,000 tonnes of Inferred mineral resource at a US$50 NSR block cut-off. The Niblack estimate now comprises an Indicated Resource of 2,588,000 tonnes grading 2.33 g/t Au, 33.18 g/t silver, 1.18% copper and 2.19% zinc and an Inferred Resource of 1,712,000 tonnes grading 2.08 g/t gold, 32.56 g/t silver, 1.55% copper, and 3.17% zinc based on a US$50 NSR block cut-off.
CBR Gold Corp. entered an agreement with the Hunter Dickinson group to form a joint venture on its 100%-owned Niblack copper-gold-silver-zinc project on Prince of Wales Island in Southeast Alaska, subject to completion of satisfactory due diligence by HD on or before June 30, 2009.
CBR Gold announce the staking of additional mineral claims contiguous to its 100% owned Niblack Au-Cu-Ag-Zn project located southwest of Ketchikan on Prince of Wales Island, in Southeast Alaska. An additional 150 federal lode claims have been staked adjacent to the Niblack Resource area covering potential down-and up-plunge extensions to the known resource as well as potential fold repetition of the host Lookout Rhyolite. Approximately 1,250 acres have been staked, adding to CBG’s previous land holdings of 3,300 acres.
