MONTREAL, Sept. 9 /CNW Telbec/ - The Armenia Canada Chamber of Commerce
and Caldera Resources Inc. are pleased to announce that Dr. Areg
Galstyan, the Deputy Minister of Energy and Natural Resources for the
Republic of Armenia, will be in Montreal and Toronto from September
15th to September 17th as the guest of the Armenia
Canada Chamber of Commerce. The Chamber will be introducing the Deputy
Minister to its members and invited guests to promote Armenia as a
mining-friendly jurisdiction and an up and coming destination for
Canadian investors.
Since its independence from the Soviet Union in 1991, the Republic of
Armenia has been experiencing strong economic and cultural growth.
Armenia is well positioned to develop its economy and mineral resources,
given its rich history as a prolific mining region for hundreds of years.
Mr. Azat Vartanian, the Chairman of the Armenia Canada Chamber of
Commerce expressed that "it is a privilege to have such a senior
government official available to introduce the Republic of Armenia to
our members in Canada."
"Armenia has become a hot destination for Canadian-listed mineral
exploration companies", says Bill Mavridis, Caldera
Resources' president and member of the Armenia Canada Chamber of
Commerce.
Mavridis points out that there are four developing success stories by
Canadian-listed mineral exploration and development companies in the
resource-rich Syunik Province of southern Armenia.
(1) Dundee Precious Metals Inc. 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
(2) Lydian International Ltd. is exploring the Amulsar gold
deposit where it has already confirmed a resource in excess of one (1)
million ounces of gold, and appears poised to increase this resource
significantly. www.lydianinternational.co.uk
(3) BacTech Mining Corporation, a global leader in bioleaching
technology for the recovery of gold and base metals from refractory
ores, is working with Caldera Resources to acquire and develop the
Lichkvaz-Tey polymetallic gold mine, also located in southern Armenia.
BacTech is currently reviewing opportunities for gold and base metal
recoveries from historic tailings systems located in Armenia. BacTech
sees great opportunity for bioleaching in Armenia, given the
government's positive approach to clean mining. www.bactech.com
(4) Caldera Resources Inc. is exploring the Marjan gold-silver
deposit where it announced in mid-August positive trench results that
contribute to the confirmation of its historical precious metal
resources. The property is ready for the drill phase of the exploration
program, which is expected to commence next spring. www.calderaresources.com
The Marjan project is located in the resource-rich province of Syunik,
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 resources classified as P1, which is
equivalent to inferred resources, totaling 647,152 oz of gold and 37.1M
oz of silver. Caldera recently announced results of its trenching
program where it confirmed 17.2 grams per tonne of gold and 344 grams
per tonne of silver over 3.2 meters. The Marjan project is a joint
venture project. Please see Caldera press release dated August 17, 2010. http://www.calderaresources.com/press-releases-gold-armenia
About the Republic of Armenia
The Republic of Armenia
is a landlocked mountainous country in the Caucasus region of Eurasia,
which is situated at the juncture of Western Asia and Eastern Europe.
Armenia is bordered by Turkey to the west, Georgia to the north, the de
facto independent Nagorno-Karabakh Republic and Azerbaijan to the east,
and Iran and the Azerbaijani exclave of Nakhchivan to the south, border
Armenia.
Armenia has a strong mining heritage dating back hundreds and even
thousands of years. During the Soviet-era Armenia was a major producer
of Copper and Molybdenum. Approximately seventeen mining and
metallurgical enterprises are in operation. The largest enterprises mine
for copper and molybdenum ore or extracted gold from tailings. The
mining industry represents approximately 5% of the country's GDP.
"A former republic of the Soviet Union, Armenia is a unitary,
multiparty, democratic nation-state with an ancient and historic
cultural heritage. The modern Republic of Armenia recognizes the
Armenian Apostolic Church as the national church of Armenia, although
the republic has separation of church and state. Armenia is a member of
more than 40 international organizations, including the United Nations,
the Council of Europe, the Asian Development Bank, the Commonwealth of
Independent States, the World Trade Organization, World Customs
Organization, the Organization of the Black Sea Economic Cooperation,
and La Francophonie. It is a member of the CSTO military alliance, and
also participates in NATO's Partnership for Peace (PfP) programme. In
2004 its forces joined KFOR, a NATO-led international force in Kosovo.
It is also an observer member of the Eurasian Economic Community and the
Non-Aligned Movement. The country is classified as an emerging
democracy."
http://en.wikipedia.org/wiki/Armenia
About The Armenia-Canada Chamber of Commerce
The
Armenia-Canada Chamber of Commerce (ACCC). ACCC is a Non-for-Profit
corporation with Head-Quarters located in Montreal, Canada. It was
established in 2008 to serve Canadian entities who are interested in the
Armenian market and Armenian entities who are interested in the Canadian
market. http://www.armcanchamber.com/
About Caldera Resources Inc.
The Corporation's main
business is the acquisition, exploration and development of gold
projects in Armenia. Caldera is currently developing the Marjan
Gold-Silver Project in southern Armenia.
Caldera is also pursuing the acquisition of the Lichkvaz-Tey Gold
Project with its strategic partner, BacTech Mining Corporation. The gold
resources of the Lichkvaz-Tey project are refractory and require the use
of BacTech's proprietary bioleaching technology to enhance recovery. The
Armenian government currently owns the project.
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. For more information on the
Historical Soviet-Era Resources on the Marjan Project, please see our NI
43-101 Report published on SEDAR and our on our web site.
For more information about Caldera Resources and the Armenia-Canada
Chamber of Commerce or to schedule a meeting or interview with Dr.
Galstyan please contact Glenn Massad at (514) 585-2236 or glenn@gmcomm.ca