Concordia Receives Authorization to Proceed With Drilling Operations at Its Providencia Property in Argentina
September 02 2011 - 7:30AM
Marketwired
Concordia Resource Corp. (TSX VENTURE: CCN) ("the Company") is
pleased to announce that its wholly owned subsidiary, Meryllion
Minerals Corporation ("Meryllion"), has received authorization from
the Directorate of Mines - Province of Jujuy to proceed with
drilling at its Providencia Ag-Cu prospect in northwestern
Argentina.
The property hosts Ag-Cu mineralization, and produced some five
million ounces of silver between 1986 and 1997 from ore grading
between 400 - 500g/t Ag. Mineralization is hosted by a gently
dipping, poorly consolidated, green conglomerate unit floored and
capped by dark red mudstones and white sandstones respectively. The
conglomerate unit was the primary target of previous mining, and
four shallow open pits were developed - the North, Central, South,
and West Pits. Mineralization is open along strike to both the
north and south, as well as down-dip to the east within the gently
dipping conglomerate unit, and the objectives of the drill program
are to extend known resources in the near surface environment as
well as to test for higher grade mineralization at depth.
As part of the permitting process, Meryllion completed a
comprehensive environmental study, and solicited and received
documented support from the two local indigenous communities for
its exploration activities. The Company has prepared a drill
proposal for an initial program of approximately 3000 m of core
drilling and has awarded the drilling contract to Major
Perforaciones SA, the Argentine subsidiary of Major Drilling Group
International Inc. Major has mobilized a UDR200D rig, and drilling
is expected to commence in early September.
Exploration at Providencia is being conducted under the
supervision of Dr Willem Fuchter PGeo, CEO of Meryllion and a
Qualified Person as defined by Canada's National Instrument 43-101,
and the contents of this release have been reviewed by Ms Pamela
Klessig, Director of Concordia and a Qualified Person.
ABOUT MERYLLION
Meryllion Minerals is a wholly owned subsidiary of Concordia
with the charter to conduct mineral exploration in South America
with a primary focus on precious and base metals. Meryllion
operates out of offices in Buenos Aires under the direction of Dr.
Willem Fuchter, PGeo, a PhD geologist with extensive international
experience and a Qualified Person under NI 43-101.
ABOUT THE COMPANY
Concordia Resource Corp. is a mineral exploration company with
property holdings in North and South America and Spain. The Company
holds the Albisu gold discovery in Nevada, and is earning from
Renaissance Gold Inc. a 70% interest in the Baza gold-copper
project in Spain. Through its wholly owned South American
subsidiary, Meryllion Minerals Corp, the Company is earning 100% of
the historic La Providencia silver mine located in the Puna of
northwestern Argentina and has also acquired an option to purchase
the 14 000 ha Cerro Amarillo-Cajon Grande copper-gold property
located in the Malargue District of Argentina. Concordia has its
head office and executive management team in Vancouver, Canada; and
its technical team is based in Reno, Nevada.
On behalf of the Board of Concordia Resource Corp.
R. Edward Flood, Chairman
Forward Looking Statements
Certain of the statements made and information contained herein
is "forward-looking information" within the meaning of the Ontario
Securities Act, including the receipt of necessary permits to
conduct exploration and construction, timing of anticipated
exploration program, the number of the holes and meters to be
drilled and future plans of the Company. Forward-looking
information is subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those
reflected in the forward-looking information, including, without
limitation, risks and uncertainties relating to risks inherent in
mining including environmental hazards, industrial accidents,
unusual or unexpected geological formations, ground control
problems and flooding; risks associated with the estimation of
mineral resources and reserves and the geology, grade and
continuity of mineral deposits; the possibility that future
exploration, development or mining results will not be consistent
with the Company's expectations; the potential for and effects of
labour disputes or other unanticipated difficulties with or
shortages of labour or interruptions in production; actual ore
mined varying from estimates of grade, tonnage, dilution and
metallurgical and other characteristics; the inherent uncertainty
of production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations; uncertain
political and economic environments; changes in laws or policies,
delays or the inability to obtain necessary governmental permits;
and other risks and uncertainties, including those described in
each management discussion and analysis. Forward-looking
information is in addition based on various assumptions including,
without limitation, the expectations and beliefs of management, the
assumed long term price of metals; appropriate equipment and
sufficient labour and that the political environment where the
Company operates will continue to support the development and
operation of mining projects. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in the forward-looking information. Accordingly, readers are
advised not to place undue reliance on forward-looking
information.
The TSX-V has neither approved nor disapproved the contents of
this press release. Neither the TSX-V nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this press
release.
Contacts: Concordia Resource Corp. Karl Cahill VP, Investor
Relations +1-858-531-6100 info@concordiaresourcecorp.com
www.concordiaresourcecorp.com
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