(CMD.V) Nov. 8, 2018 – Commander Resources Ltd. has completed an airborne versatile time-domain electromagnetic (VTEM) survey on the Sabin zinc-copper-silver-gold volcanogenic massive sulphide (VMS) project in northwest Ontario, some 10 kilometres north of the community of Savant Lake.
The Sabin zinc property is in the Sturgeon Lake greenstone belt, host to significant polymetallic VMS deposits including the past-producing Sturgeon, Mattabi, Lyon and “F’ VMS mines. Mining ceased in the belt in 1991.
The airborne survey comprised 370 line-kilometres of electromagnetic and magnetic surveying by Geotech Ltd. of Aurora, Ontario using its latest generation VTEM Plus system. Results are expected by year end. This is the first modern deep penetrating geophysical survey to be flown on the property.
The Sabin zinc property was first worked by Union de Miniere Exploration (UMEX) in the 1970s. Initial work by UMEX led to the discovery of the Marchington Zone where shallow drilling on 15-metre centres outlined a historical near-surface resource from 15 to 61 metres depth.
The Marchington Zone resource was defined by UMEX (based on internal company documents dated June 19, 1980), is historic in nature, is the most recent resource estimate currently available and is not to be relied upon except to provide an indication of exploration potential on the property. It was calculated by exploration professionals working for a major company widely reputed as competent, utilizing methodology accepted and relied upon as standard industry practice at the time, but is not compliant with National Instrument 43-101 standards. The company cautions that a qualified person has not done sufficient work to classify this historical estimate as current resources, and Commander is not treating it as a current mineral resource.
In addition to the Marchington Zone horizon, three additional partially drill tested zones have been identified including the Kash, South and S-23 zones. The core of the Sabin property is underlain by intermediate and felsic volcanic units that exhibit widespread alteration comprised of garnet, staurolite, sillimanite and sericite metamorphic mineralogy. Characteristics of the Sabin and Sturgeon Lake deposits include high zinc and silver values with low conductivity. Gold was not consistently analyzed, but sporadic assays suggest elevated potential. The company has recently compiled a large exploration dataset for the first time. The last major exploration program on the property was a limited three-hole campaign by Noranda in 1995.
Commander (formerly Major General) acquired the property through a purchase agreement with UMEX in 1990 and holds a 100-percent interest in the property except for two small internal claim parcels that are subject to a participating interest with Glencore Canada Corporation (formerly Noranda) which currently holds 41.5 percent and 33.3 percent. UMEX retains a 2.5 percent net smelter returns royalty over the property that will be reduced to 1 percent following $225,000 of royalty payments.
Commander Resources is a Canadian-focused exploration company that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. Commander has a portfolio of base and precious metal projects across Canada and significant equity positions in Maritime Resources Corp. and Aston Bay Holdings. Commander also retains royalties from properties that have been partnered, optioned or sold.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.