Vancouver, British Columbia, Jun 23, 2021 (Newsfile Corp via COMTEX) -- Vancouver, British Columbia--(Newsfile Corp. - June 23, 2021) - CARLYLE COMMODITIES CORP. (otc pink:DLRYF) /zigman2/quotes/209277835/delayed DE:1OZA 0.00% (" Carlyle " or the " Company ") is pleased to announce that it has engaged RockRidge Consulting based in Maple Ridge, BC, Canada.
RockRidge was born out of GeoLogix Mineral Resource Consulting (Pty) Ltd., originally established in South Africa in 2001. The Company consults in Canada, USA, Africa, Asia, Oceania and Europe. Their team has a broad range of geological experience, knowledge and expertise and complete or assist in projects from early-stage exploration through to development and operations. The team comprises of highly experienced resource geology consultants, data management professionals, contract geologists and mining engineers. They have established key global alliances with other independent industry professionals allowing them to offer clients an all-round geological consulting and exploration management experience. Their technical excellence is at the foundation of everything they do and aim to exceed all expectations as they offer full transparency and customized geological services.
Morgan Good, President and Chief Executive Officer of Carlyle, commented, " Carlyle is thrilled to have brought RockRidge and their team of world-class experts into the fold as the Company furthers its understanding and strategy at The Newton Gold Project. Their team has historical ties working with not only The Hunter Dickinson Group, who vended the Newton to Carlyle, but some of its principals also performed work on the property itself during the years of its most recent exploration between 2009-2012, lending both RockRidge and Carlyle invaluable insight to the merits, history, potential and future success as the Company advances its 2021 objectives ."
Newton Gold Project
The Newton Gold Project contains an historical estimated mineral resource of 1.6 million ounces gold and 7.7 million ounces silver, at the inferred confidence level as reported in a NI 43-101 technical report dated effective December 19, 2012, entitled "Technical Report on the Initial Mineral Resource Estimate for the New Project, Central British Columbia, Canada", prepared by Reno Pressacco, M.Sc.(A), P.Geo., of Roscoe Postle and Associates Ltd.
The Newton Project is a large, bulk tonnage, low - to intermediate-sulphidation, epithermal gold deposit with nearly 30,000 m of drilling exploring and developing the historical resource, primarily between 2009-2012.
Newton encompasses more than 24,000 Ha and contains an historical resource of 1.6 million oz Au & 7.7 million oz Ag estimated at the inferred confidence level. Carlyle believes Newton represents an outstanding development project.
Mineralization occurs within an 800 x 400 m area defined by drilling to depths of 560 m, with the majority of holes not exceeding 300m depth.
Underlying the deposit, a large IP anomaly measures 4 km x 2 km and covers an area greater than 7 sq/km - yet the historical resource occupies slightly over 0.5 sq/km or just 7% of the anomaly.
Gold and associated base metal mineralization precipitated in extensive zones of strong quartz-sericite alteration as well as in mafic volcanic and clastic sedimentary rocks and along fault and fracture zones.
The alteration types and metal associations at Newton are similar to large epithermal gold deposits elsewhere in British Columbia including Blackwater (Artemis Gold Inc), New Prosperity (Taseko Mines Ltd) and Brucejack (Pretium Resources Inc) deposits. The very large Blackwater Gold Project is the most proximal of those deposits located approximately 185 km northeast of Newton, where it is one of Canada's largest open-pit gold deposits and one of the world's largest environmental assessment (EA) approved gold development projects. Blackwater has a measured+indicated resource estimated at 11.7 million ounces Au and 122 million ounces of Ag (Blackwater Gold Project British Columbia NI 43-101 Technical Report on Pre-Feasibility Study: authored by Sue Bird, Daniel Fontaine, Tracy Meintjes, Marc Schulte and John Thomas, August 26, 2020; www.artemisgoldinc.com ).
The Newton Technical Report historic estimate is the most recent mineral resource estimate for the Newton Gold-Silver Project and was prepared by Amarc. No qualified person ("QP") (as such term is defined in NI 43-101) working for the Company has done sufficient work to classify the historic estimate as a current mineral resource, and the Company is treating the estimate as an historical mineral resource. The Company also does not imply that information or results from the Newton Gold-Silver Project, either at present or in the future, will be similar to that of Artemis' Blackwater project or other large epithermal projects.
Jeremy Hanson, P.Geo., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Historical information contained in this news release cannot be relied upon as the Company's Qualified Person, as defined under NI 43-101 has not prepared nor verified the historical information.
Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Gold-Silver Project in the Clinton Mining Division of B.C., as well has formed a strategic partnership with The Hunter Dickinson Group ("HDI") and has formed a 50-50 joint venture with HDI affiliate United Mineral Services Ltd. on the Mack Project located in B.C. The Company has an option to earn a 100% interest in the Cecilia Gold-Silver Project located in the State of Sonora, Mexico. Carlyle owns 100% of the Owl Lake Property located in the Hemlo-Schreiber Greenstone Belt in Ontario, and also holds an option to earn a 100% interest in the promising Sunset property located in the Vancouver Mining Division near Pemberton, B.C. Carlyle is based in Vancouver, B.C., and is listed on the Canadian Securities Exchange ("CSE") under the symbol "CCC".