VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/13/12 --
Cadan Resources Corporation (TSX VENTURE: CXD) (FRANKFURT: AOMZ25) ("Cadan") advises that Mining Group Limited (ASX: MNE) ("Mining Group") announced it has identified widespread gold mineralisation at Tagpura North, at the Comval Copper and Gold Project (Comval Project), located 90 km north of Davao City, Mindanao, in the Philippines. Mining Group's news release is reproduced in part below.
The Comval Project is operated by Philco Mining Company ("PMC"), which holds the exploration permits on the Comval Project. Cadan retains a 20% free-carried interest in PMC. Mining Group has an 80% interest in PMC and is the manager of the project. In addition to its direct 20% interest in PMC, Cadan also owns 3.1 million shares or approximately 4.12% of Mining Group's present issued capital (based on publicly available information), along with options to purchase a further 2 million shares of Mining Group (refer to Cadan news release of January 17, 2012 for details).
Highlights
- Channel sampling returns results of 36.00 m at 4.84 g/t Au, including 8.00 m at 11.56 g/t Au.
- Extensive quartz vein stockwork zone with epithermal characteristics.
- Additional rock chip results extend mineralised zone at Tagpura North with up to 18.05% copper returned from weathered outcrops.
- Ground magnetic survey highlights significant magnetic anomaly consistent with magnetite skarn mineralisation and coincident with the new gold and copper geochemical anomaly at Tagpura North.
Mining Group Managing Director Mr. Zeff Reeves said: "These results further underpin the Comval Project as having the potential to host numerous copper and gold ore bodies. Tagpura North is emerging as a very exciting target with widespread gold mineralisation.
"Mining Group's geology team has worked exceptionally hard at Tagpura North over recent weeks. From the work they have done to date, it is becoming evident that we have moved into a possible epithermal gold environment with extensive quartz vein stockwork present with veins showing some classic epithermal vein textures.
"The more we sample and map at Tagpura North, the larger the footprint of copper and gold anomaly expands. We also have the added bonus of outcropping copper bearing magnetite skarns which the recent ground magnetics has located really effectively. As a result, we plan to commence drilling at Tagpura North by mid-November," added Mr Reeves.
The recent follow up work undertaken by Mining Group's geology team at Tagpura North has been carried out to further understand and delineate identified anomalies from previous rock chip sampling and mapping (see Cadan news release of October 24, 2012). This work consisted of systematic, continuous channel sampling along recently installed access road cuttings. The previously reported native copper sample results have been received with sample A-44781 returning a copper grade of 18.05% (Figure 1). The sample was taken from the oxidised cap over a copper bearing magnetite skarn and is interpreted to be produced and enriched by weathering processes. Additional first pass rock chip results have also been received further extending and delineating the Tagpura North mineralised zone. All rock chip results received to date are presented in Appendix 1.
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/cxd-1113-fig1.pdf.
Tagpura North Road Channel Sampling
Two channels were continuously sampled along what is known as "Road 2" at Tagpura North. This road cuts approximately perpendicular to the interpreted strike of the geology and mineralisation. Best results were achieved from channel TCPCHRD2A2 with a gold dominant zone of 36.00 m at 4.84 g/t including 8.00 m at 11.56 g/t being obtained (copper assays remain outstanding).
Gold and copper mineralisation at Tagpura North has been identified in outcropping magnetite skarns, and associated within quartz stockwork within altered andesitic volcanics and diorites. Numerous weathered quartz and sulphide veins have been identified over a widespread area and are reminiscent of an epithermal style of gold mineralisation (Figure 2).
To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/cxd-1113-fig2.pdf.
Three channels have been continuously sampled along newly cut access roads at Tagpura North covering 485 m of access roads. Sample results have been received for two channels covering 197 m, with significant results presented in the table below.
Table 1 - Significant results from Tagpura North road cutting channel sampling
----------------------------------------------------------------------------
CHANNEL From (m) To (m) Interval Au (g/t) Cu (%) Comments
----------------------------------------------------------------------------
TCPCHRD2A1 0.00 15.00 15.00 2.56 0.22
----------------------------------------------------------------------------
TCPCHRD2A1 6.00 13.00 7.00 4.80 0.09 including
----------------------------------------------------------------------------
TCPCHRD2A2 6.00 32.00 26.00 1.03 0.46
----------------------------------------------------------------------------
TCPCHRD2A2 14.00 30.00 16.00 1.47 0.31 including
----------------------------------------------------------------------------
TCPCHRD2A2 40.00 44.00 4.00 2.39 0.03
----------------------------------------------------------------------------
TCPCHRD2A2 88.00 124.00 36.00 4.84 awaiting assays
----------------------------------------------------------------------------
TCPCHRD2A2 114.00 122.00 8.00 11.56 awaiting assays including
----------------------------------------------------------------------------
TCPCHRD2B1 18.00 28.00 10.00 1.96 0.06
----------------------------------------------------------------------------
All samples were collected continuously along the road cutting as nominally 1.00 m or 2.00 m samples. All samples were geologically described and each channel was geologically mapped. All samples were sent to Macphar Laboratories in Manila for analysis. Au was assayed using fire assay and an atomic absorption finish and Cu, Ag and Mo were assayed using a 4 acid digest and an ICPOES finish. Standard reference material check samples were submitted every 20 samples and a blank check submitted every 50 samples for QA/QC purposes.
All sampling is conducted under the supervision of Mining Group's on site exploration manager and the chain of custody from the sample site to the sample preparation and logging facility is continually monitored by the exploration manager. Samples are shipped to the lab by qualified couriers or Mining Group personnel under locked bags with independent identification lock numbers. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass acceptable parameters to ensure accurate and verifiable results.
Figure 3 illustrates the location of various samples. Appendix 2 outlines all the sample locations and results received to date for the four channels sampled along Tagpura North Road 2.
To view figure 3, please visit the following link:
http://media3.marketwire.com/docs/cxd-1113-fig3.pdf.
In addition to ongoing surface sampling activity, Mining Group has completed approximately 19 line kilometres of additional detailed ground magnetic surveying. The surveying has highlighted a significant magnetic anomaly consistent with magnetite skarn mineralisation and coincident with the new gold geochemical anomaly at Tagpura North (Figure 4).
To view Figure 4, please visit the following link:
http://media3.marketwire.com/docs/cxd-1113-fig4.pdf.
The technical information in this news release was prepared and verified by Zeffron Charles Reeves, (B App Sc (Hons) (Applied Geology) MBA, MAIG), a member of the AIG and employee of Mining Group. Mr. Reeves has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information and opinions contained in this news release. Mr. Reeves is a qualified person as defined in NI 43-101.
Forward-Looking Statements
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with the timing and content of future work programs, geological interpretations and resource potential of the Comval Project. There is no guarantee that additional exploration will lead to evaluation of a mineral resource, or that any resource will have demonstrated economic viability as necessary to be classified as a reserve. The reader is referred to Cadan's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through
www.cadanresources.com or Cadan's page on SEDAR at
www.sedar.com.
APPENDIX 1 - ROCK CHIP ASSAY RESULTS FROM TAGPURA NORTH
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Sample ID Easting Northing Au (ppm) Cu (ppm)
----------------------------------------------------------------------------
A-62601 845,655.345 827,284.948 0.03 1119
----------------------------------------------------------------------------
A-62602 845,653.473 827,283.598 0.02 986
----------------------------------------------------------------------------
A-62603 845,653.737 827,279.719 0.01 742
----------------------------------------------------------------------------
A-62604 845,651.568 827,279.219 0.03 522
----------------------------------------------------------------------------
A-62605 845,649.738 827,278.719 0.04 587
----------------------------------------------------------------------------
A-62606 845,647.841 827,278.229 0.01 880
----------------------------------------------------------------------------
A-62607 845,645.747 827,277.530 less than 0.01 564
----------------------------------------------------------------------------
A-62608 845,643.850 827,277.100 less than 0.01 606
----------------------------------------------------------------------------
A-62609 845,641.896 827,276.470 0.02 655
----------------------------------------------------------------------------
A-62610 845,640.074 827,275.840 0.01 730
----------------------------------------------------------------------------
A-62611 845,638.045 827,275.210 0.01 1060
----------------------------------------------------------------------------
A-62612 845,636.157 827,274.450 0.03 1391
----------------------------------------------------------------------------
A-62613 845,634.483 827,273.370 0.02 1687
----------------------------------------------------------------------------
A-62614 845,632.809 827,272.351 0.02 1186
----------------------------------------------------------------------------
A-62615 845,630.995 827,271.461 0.12 1396
----------------------------------------------------------------------------
A-62616 845,628.711 827,270.301 0.02 765
----------------------------------------------------------------------------
A-62617 845,627.383 827,269.281 0.06 578
----------------------------------------------------------------------------
A-62618 845,625.643 827,268.001 0.04 1178
----------------------------------------------------------------------------
A-62619 845,623.903 827,267.112 0.03 787
----------------------------------------------------------------------------
A-62620 845,621.949 827,266.222 0.03 1104
----------------------------------------------------------------------------
A-62621 845,620.919 827,264.362 0.03 1069
----------------------------------------------------------------------------
A-62622 845,619.805 827,262.693 0.02 644
----------------------------------------------------------------------------
A-62623 845,618.700 827,261.093 0.01 846
----------------------------------------------------------------------------
A-62624 845,617.323 827,259.163 0.02 704
----------------------------------------------------------------------------
A-62625 845,616.284 827,257.564 0.02 647
----------------------------------------------------------------------------
A-62626 845,615.113 827,255.834 0.02 728
----------------------------------------------------------------------------
A-62627 845,614.000 827,254.234 less than 0.01 501
----------------------------------------------------------------------------
A-62628 845,613.159 827,252.645 0.01 914
----------------------------------------------------------------------------
A-62629 845,611.865 827,250.645 less than 0.01 392
----------------------------------------------------------------------------
A-62630 845,610.809 827,249.245 0.01 756
----------------------------------------------------------------------------
A-62631 845,609.704 827,247.576 0.02 775
----------------------------------------------------------------------------
A-62632 845,608.739 827,245.846 less than 0.01 779
----------------------------------------------------------------------------
A-62633 845,607.634 827,244.056 less than 0.01 797
----------------------------------------------------------------------------
A-62634 845,606.389 827,242.317 less than 0.01 743
----------------------------------------------------------------------------
A-62635 845,605.416 827,240.727 less than 0.01 596
----------------------------------------------------------------------------
A-62636 845,604.031 827,239.317 0.02 1013
----------------------------------------------------------------------------
A-62637 845,602.423 827,238.238 0.02 847
----------------------------------------------------------------------------
A-62638 845,599.224 827,235.938 0.02 846
----------------------------------------------------------------------------
A-62639 845,597.690 827,234.788 0.02 1149
----------------------------------------------------------------------------
A-62640 845,596.222 827,233.638 0.02 1115
----------------------------------------------------------------------------
A-62641 845,594.482 827,232.559 0.04 1296
----------------------------------------------------------------------------
A-62642 845,593.229 827,231.289 0.03 885
----------------------------------------------------------------------------
A-62643 845,591.703 827,229.809 0.02 704
----------------------------------------------------------------------------
A-62644 845,590.722 827,228.340 0.02 620
----------------------------------------------------------------------------
A-62645 845,590.780 827,226.700 0.02 552
----------------------------------------------------------------------------
A-62646 845,591.316 827,224.610 0.01 455
----------------------------------------------------------------------------
A-62647 845,591.514 827,222.701 0.02 509
----------------------------------------------------------------------------
A-62648 845,591.786 827,220.541 0.03 731
----------------------------------------------------------------------------
A-62649 845,591.992 827,218.372 0.02 609
----------------------------------------------------------------------------
A-62650 845,595.818 827,218.322 0.01 257
----------------------------------------------------------------------------
A-62651 845,594.779 827,216.522 0.01 234
----------------------------------------------------------------------------
A-62652 845,594.152 827,214.802 0.02 290
----------------------------------------------------------------------------
A-62653 845,593.254 827,213.073 0.01 190
----------------------------------------------------------------------------
A-62654 845,593.584 827,211.173 0.03 281
----------------------------------------------------------------------------
A-62655 845,595.200 827,209.633 0.02 301
----------------------------------------------------------------------------
A-62656 845,596.940 827,208.674 0.03 425
----------------------------------------------------------------------------
A-62657 845,598.424 827,207.064 0.02 367
----------------------------------------------------------------------------
A-62658 845,599.883 827,206.044 0.02 542
----------------------------------------------------------------------------
A-62659 845,601.706 827,204.564 0.01 178
----------------------------------------------------------------------------
A-62660 845,603.314 827,203.345 0.02 215
----------------------------------------------------------------------------
A-62661 845,605.194 827,202.135 0.02 87
----------------------------------------------------------------------------
A-62662 845,606.661 827,201.115 0.19 209
----------------------------------------------------------------------------
A-62663 845,608.410 827,199.765 0.06 710
----------------------------------------------------------------------------
A-62664 845,610.017 827,198.616 0.02 752
----------------------------------------------------------------------------
A-62665 845,611.757 827,197.466 0.02 752
----------------------------------------------------------------------------
A-62666 845,613.225 827,196.246 0.03 288
----------------------------------------------------------------------------
A-62667 845,614.907 827,194.956 0.05 666
----------------------------------------------------------------------------
A-62668 845,617.142 827,193.357 0.06 779
----------------------------------------------------------------------------
A-62669 845,619.005 827,192.607 0.07 551
----------------------------------------------------------------------------
A-62670 845,620.951 827,191.467 0.07 507
----------------------------------------------------------------------------
A-62671 845,622.485 827,190.437 0.11 1258
----------------------------------------------------------------------------
A-62672 845,624.349 827,189.687 0.02 403
----------------------------------------------------------------------------
A-62673 845,625.619 827,188.338 0.07 1017
----------------------------------------------------------------------------
A-62674 845,627.367 827,187.118 0.03 273
----------------------------------------------------------------------------
A-62675 845,655.213 827,169.652 0.04 428
----------------------------------------------------------------------------
A-62676 845,653.547 827,170.401 0.23 762
----------------------------------------------------------------------------
A-62677 845,651.346 827,171.021 0.1 630
----------------------------------------------------------------------------
A-62678 845,649.342 827,171.831 0.16 648
----------------------------------------------------------------------------
A-62679 845,647.074 827,172.251 0.06 1917
----------------------------------------------------------------------------
A-62680 845,645.203 827,173.271 0.05 969
----------------------------------------------------------------------------
A-62681 845,643.537 827,174.091 0.05 388
----------------------------------------------------------------------------
A-62682 845,641.797 827,175.170 0.16 472
----------------------------------------------------------------------------
A-62684 845,638.194 827,177.010 0.07 484
----------------------------------------------------------------------------
A-62685 845,636.924 827,176.130 0.04 1082
----------------------------------------------------------------------------
A-62686 845,635.942 827,174.730 0.04 2115
----------------------------------------------------------------------------
A-62687 845,633.081 827,174.611 0.07 1391
----------------------------------------------------------------------------
A-62688 845,631.094 827,174.900 0.08 1127
----------------------------------------------------------------------------
A-62689 845,629.511 827,175.330 0.03 502
----------------------------------------------------------------------------
A-62690 845,627.647 827,176.010 0.06 529
----------------------------------------------------------------------------
A-53548 846,519.000 828,420.000 10.36 2231
----------------------------------------------------------------------------
A-53549 846,494.000 828,245.000 2.13 3386
----------------------------------------------------------------------------
A-53550 846,463.00 828,275.00 0.05 4068
----------------------------------------------------------------------------
A-53551 846,463.00 828,275.00 0.22 11014
----------------------------------------------------------------------------
A-53552 846,463.00 828,275.00 0.81 1942
----------------------------------------------------------------------------
A-53553 846,463.00 828,275.00 5.12 1397
----------------------------------------------------------------------------
A-53554 846,463.00 828,275.00 0.23 10667
----------------------------------------------------------------------------
A-53555 846,463.00 828,275.00 0.33 7323
----------------------------------------------------------------------------
A-53556 846,400.00 828,125.00 0.15 1573
----------------------------------------------------------------------------
A-53557 846,425.00 828,125.00 1.5 2471
----------------------------------------------------------------------------
A-53560 846563.00 828,175.00 0.21 6410
----------------------------------------------------------------------------
A-53561 846,553.00 828,200.00 2.86 4930
----------------------------------------------------------------------------
A-53565 846,293.00 827,948.00 0.09 1460
----------------------------------------------------------------------------
A-53566 846,321.00 828,018.00 0.01 614
----------------------------------------------------------------------------
A-53567 846,321.29 828,016.00 0.26 1117
----------------------------------------------------------------------------
A-53568 846,321.43 828,015.04 0.24 1586
----------------------------------------------------------------------------
A-53569 846,321.56 828,014.05 0.02 465
----------------------------------------------------------------------------
A-53570 846,321.77 828,013.08 0.21 829
----------------------------------------------------------------------------
A-53571 846,706.15 827,990.98 less than 0.01 106
----------------------------------------------------------------------------
A-53572 846,706.23 827,989.97 less than 0.01 1707
----------------------------------------------------------------------------
A-53573 846,706.31 827,988.87 1.04 48
----------------------------------------------------------------------------
A-53574 846,706.43 827,987.90 0.08 23
----------------------------------------------------------------------------
A-53575 846,706.58 827,986.95 0.12 24
----------------------------------------------------------------------------
A-53576 846518.00 828420.00 0.29 35790
----------------------------------------------------------------------------
A-53577 846,498.00 827,990.00 0.06 2552
----------------------------------------------------------------------------
A-53578 846498.54 827990.66 0.03 1200
----------------------------------------------------------------------------
A-53579 846499.20 827991.43 0.03 954
----------------------------------------------------------------------------
A-53580 846499.84 827992.18 0.02 1561
----------------------------------------------------------------------------
A-53581 846500.47 827992.92 0.02 437
----------------------------------------------------------------------------
A-53582 846500.82 827993.76 0.02 629
----------------------------------------------------------------------------
A-53583 846500.92 827994.74 0.01 1166
----------------------------------------------------------------------------
A-53584 846501.05 827995.70 0.03 1330
----------------------------------------------------------------------------
A-53585 846501.19 827996.66 0.01 1240
----------------------------------------------------------------------------
A-53586 846501.30 827997.66 less than 0.01 980
----------------------------------------------------------------------------
A-53587 846501.41 827998.66 0.02 1099
----------------------------------------------------------------------------
A-53588 846501.89 827999.44 less than 0.01 1444
----------------------------------------------------------------------------
A-53589 846502.28 828000.40 0.03 1542
----------------------------------------------------------------------------
A-53590 846503.04 828000.99 0.02 1144
----------------------------------------------------------------------------
A-53591 846503.77 828001.74 less than 0.01 1006
----------------------------------------------------------------------------
A-53592 846504.62 828002.24 less than 0.01 951
----------------------------------------------------------------------------
A-53593 846505.24 828002.90 less than 0.01 1181
----------------------------------------------------------------------------
A-53594 846506.15 828003.30 0.02 1637
----------------------------------------------------------------------------
A-53595 846507.08 828003.51 0.02 1164
----------------------------------------------------------------------------
A-53596 846507.97 828003.95 less than 0.01 767
----------------------------------------------------------------------------
A-53597 846508.96 828004.17 less than 0.01 1019
----------------------------------------------------------------------------
A-53598 846509.95 828004.21 0.02 694
----------------------------------------------------------------------------
A-53599 846510.96 828004.19 0.02 503
----------------------------------------------------------------------------
A-53600 846511.95 828004.26 less than 0.01 314
----------------------------------------------------------------------------
A-53601 846512.92 828004.31 0.03 758
----------------------------------------------------------------------------
A-53602 846513.95 828004.35 less than 0.01 759
----------------------------------------------------------------------------
A-53603 846514.97 828004.25 0.03 1773
----------------------------------------------------------------------------
A-53604 846515.98 828004.20 0.11 3356
----------------------------------------------------------------------------
A-53605 846516.98 828004.16 0.13 2344
----------------------------------------------------------------------------
A-53606 846,518.00 828,004.00 0.15 2468
----------------------------------------------------------------------------
A-53609 846518.00 828420.00 12.53 2478
----------------------------------------------------------------------------
A-53610 846,590.00 828,050.00 0.16 4506
----------------------------------------------------------------------------
A-53611 846,491.93 846,494.51 2.21 4915
----------------------------------------------------------------------------
A-53612 846,494.00 828,208.00 0.03 955
----------------------------------------------------------------------------
A-53613 846,493.51 828,208.97 0.03 9413
----------------------------------------------------------------------------
A-53614 846,493.03 828,209.93 0.09 3692
----------------------------------------------------------------------------
A-53615 846,492.54 828,210.89 0.03 10027
----------------------------------------------------------------------------
A-53616 846,491.93 828,211.78 0.07 3990
----------------------------------------------------------------------------
A-53617 846,409.00 828,246.00 0.16 567
----------------------------------------------------------------------------
A-53618 846,502.00 828,176.00 0.24 7790
----------------------------------------------------------------------------
A-53619 846,702.00 828,093.00 1.52 682
----------------------------------------------------------------------------
A-62691 846362.690 827323.840 0.02 671
----------------------------------------------------------------------------
A-62692 846364.619 827323.450 0.02 613
----------------------------------------------------------------------------
A-62693 846366.401 827322.650 0.02 572
----------------------------------------------------------------------------
A-62694 846368.231 827321.911 0.03 834
----------------------------------------------------------------------------
A-62695 846370.161 827321.061 0.03 862
----------------------------------------------------------------------------
A-62696 846372.107 827320.411 0.02 573
----------------------------------------------------------------------------
A-62697 846374.110 827320.001 0.01 1057
----------------------------------------------------------------------------
A-62698 846376.106 827319.771 0.02 547
----------------------------------------------------------------------------
A-62699 846378.110 827319.181 0.02 684
----------------------------------------------------------------------------
A-62700 846380.113 827318.881 0.03 1117
----------------------------------------------------------------------------
A-53501 846385.226 827318.821 0.05 1906
----------------------------------------------------------------------------
A-53502 846387.287 827318.531 0.04 1417
----------------------------------------------------------------------------
A-53503 846389.233 827318.471 0.04 843
----------------------------------------------------------------------------
A-53504 846391.229 827318.241 0.14 3241
----------------------------------------------------------------------------
A-53505 846393.117 827318.181 0.22 5121
----------------------------------------------------------------------------
A-53506 846395.055 827318.351 0.04 3096
----------------------------------------------------------------------------
A-53507 846397.116 827318.411 0.06 1093
----------------------------------------------------------------------------
A-53508 846399.120 827318.651 0.08 1166
----------------------------------------------------------------------------
A-53509 846401.058 827318.941 0.09 1880
----------------------------------------------------------------------------
A-53510 846403.235 827319.001 0.06 1369
----------------------------------------------------------------------------
A-53511 846405.065 827319.241 0.02 591
----------------------------------------------------------------------------
A-53512 846406.772 827319.471 0.58 899
----------------------------------------------------------------------------
A-53513 846408.710 827319.711 1.87 1349
----------------------------------------------------------------------------
A-53514 846410.417 827320.711 0.08 1752
----------------------------------------------------------------------------
A-53515 846412.066 827321.591 0.09 1497
----------------------------------------------------------------------------
A-53516 846413.946 827322.530 0.06 2250
----------------------------------------------------------------------------
A-53517 846415.777 827323.470 0.04 475
----------------------------------------------------------------------------
A-53518 846417.484 827324.590 0.06 540
----------------------------------------------------------------------------
A-53519 846419.421 827325.530 0.04 406
----------------------------------------------------------------------------
A-53520 846448.735 827333.418 0.03 718
----------------------------------------------------------------------------
A-53521 846447.169 827313.882 0.02 569
----------------------------------------------------------------------------
A-53522 846454.079 827313.882 0.07 2311
----------------------------------------------------------------------------
A-53523 846453.938 827317.201 0.04 1816
----------------------------------------------------------------------------
A-53524 846453.790 827320.871 0.03 902
----------------------------------------------------------------------------
A-53525 846454.227 827324.070 0.04 522
----------------------------------------------------------------------------
A-53526 846454.557 827326.910 0.04 278
----------------------------------------------------------------------------
A-53527 846454.656 827329.509 0.06 1722
----------------------------------------------------------------------------
A-53528 846455.217 827332.358 0.04 1757
----------------------------------------------------------------------------
A-53529 846455.200 827335.198 0.07 2135
----------------------------------------------------------------------------
A-53530 846,245.111 828,144.444 less than 0.01 471
----------------------------------------------------------------------------
A-53531 846,245.222 828,145.889 0.01 665
----------------------------------------------------------------------------
A-53532 846,245.333 828,147.333 0.02 395
----------------------------------------------------------------------------
A-53533 846,245.444 828,148.778 less than 0.01 1008
----------------------------------------------------------------------------
A-53534 846,245.556 828,150.222 less than 0.01 2877
----------------------------------------------------------------------------
A-53535 846,245.667 828,151.666 less than 0.01 4724
----------------------------------------------------------------------------
A-53536 846,245.778 828,153.111 less than 0.01 16009
----------------------------------------------------------------------------
A-53537 846,245.889 828,154.555 less than 0.01 4288
----------------------------------------------------------------------------
A-53538 846,246.000 828,156.000 less than 0.01 2857
----------------------------------------------------------------------------
A-53539 846,239.000 828,153.400 less than 0.01 731
----------------------------------------------------------------------------
A-53540 846,239.000 828,154.800 0.02 633
----------------------------------------------------------------------------
A-53541 846,239.000 828,156.200 0.02 1063
----------------------------------------------------------------------------
A-53542 846,239.000 828,157.600 0.04 1918
----------------------------------------------------------------------------
A-53543 846,239.000 828,159.000 0.76 14256
----------------------------------------------------------------------------
A-53701 846304.00 828189.00 0.01 71
----------------------------------------------------------------------------
A-53702 846331.64 828155.79 0.07 3558
----------------------------------------------------------------------------
A-53703 846331.94 828154.55 0.02 1336
----------------------------------------------------------------------------
A-53704 846332.56 828153.71 0.02 1650
----------------------------------------------------------------------------
A-53705 846333.10 828152.63 0.05 1761
----------------------------------------------------------------------------
A-53706 846333.71 828151.09 less than 0.01 1040
----------------------------------------------------------------------------
A-53707 846334.41 828145.47 2.33 1818
----------------------------------------------------------------------------
A-53708 846334.64 828141.47 0.02 217
----------------------------------------------------------------------------
A-53709 846334.64 828136.94 less than 0.01 221
----------------------------------------------------------------------------
A-53710 846338.18 828145.32 0.37 2751
----------------------------------------------------------------------------
A-53711 846338.18 828144.09 0.28 3472
----------------------------------------------------------------------------
A-53712 846338.09 828143.01 0.64 1714
----------------------------------------------------------------------------
A-53713 846338.09 828141.93 0.04 533
----------------------------------------------------------------------------
A-53714 846338.09 828140.86 0.03 823
----------------------------------------------------------------------------
A-53715 846338.02 828140.01 0.04 965
----------------------------------------------------------------------------
A-53716 846338.02 828138.86 0.08 1113
----------------------------------------------------------------------------
A-53717 846338.02 828137.70 0.05 663
----------------------------------------------------------------------------
A-53718 846337.94 828136.48 0.02 1027
----------------------------------------------------------------------------
A-53719 846337.94 828135.40 0.03 1656
----------------------------------------------------------------------------
A-53737 846350.95 828125.94 0.55 1692
----------------------------------------------------------------------------
A-53738 846350.79 828124.78 0.05 551
----------------------------------------------------------------------------
A-53739 846350.79 828124.78 0.02 873
----------------------------------------------------------------------------
A-53740 846350.64 828123.71 less than 0.01 730
----------------------------------------------------------------------------
A-53741 846350.17 828121.17 0.25 966
----------------------------------------------------------------------------
A-53742 846349.18 828114.93 0.21 1088
----------------------------------------------------------------------------
A-53743 846349.18 828113.70 0.16 605
----------------------------------------------------------------------------
A-44781 846575 828210 0.06 180498
----------------------------------------------------------------------------
A-53779 846446.00 828099.00 0.36 5427
----------------------------------------------------------------------------
A-53780 846451.00 828109.00 0.07 1406
----------------------------------------------------------------------------
A-53781 846442.00 828105.00 0.22 1665
----------------------------------------------------------------------------
A-53782 846451.00 828105.00 0.08 978
----------------------------------------------------------------------------
A-53783 846457.00 828100.00 0.17 1937
----------------------------------------------------------------------------
A-53784 846452.00 828104.00 1.02 6378
----------------------------------------------------------------------------
A-53785 846450.00 828103.00 0.68 17579
----------------------------------------------------------------------------
A-53786 846451.00 828101.00 0.15 2596
----------------------------------------------------------------------------
A-53787 846450.00 828102.00 1.73 2460
----------------------------------------------------------------------------
APPENDIX 2 - TAGPURA NORTH ROCK CHIP SAMPLE RESULTS AS AT OCTOBER 24, 2012
("AA" denotes awaiting assays)
----------------------------------------------------------------------------
Au Cu
Channel Sample ID From (m) To (m) Easting Northing (ppm) (ppm)
----------------------------------------------------------------------------
TCPCHRD2A1 A-53618 0.00 2.00 846502.00 828176.00 0.24 7790
----------------------------------------------------------------------------
TCPCHRD2A1 A-53622 2.00 3.00 846508.07 828184.89 0.59 2014
----------------------------------------------------------------------------
TCPCHRD2A1 A-53623 3.00 4.00 846510.00 828184.00 0.62 866
----------------------------------------------------------------------------
TCPCHRD2A1 A-53624 4.00 5.00 846511.21 828183.61 1.06 233
----------------------------------------------------------------------------
TCPCHRD2A1 A-53625 5.00 6.00 846512.34 828182.94 1.10 5032
----------------------------------------------------------------------------
TCPCHRD2A1 A-53626 6.00 7.00 846513.11 828182.09 4.49 2069
----------------------------------------------------------------------------
TCPCHRD2A1 A-53627 7.00 8.00 846513.64 828181.00 5.74 722
----------------------------------------------------------------------------
TCPCHRD2A1 A-53628 8.00 9.00 846513.43 828180.05 7.20 217
----------------------------------------------------------------------------
TCPCHRD2A1 A-53629 9.00 10.00 846512.38 828179.80 5.95 162
----------------------------------------------------------------------------
TCPCHRD2A1 A-53630 10.00 11.00 846512.00 828179.00 3.58 580
----------------------------------------------------------------------------
TCPCHRD2A1 A-53631 11.00 12.00 846512.02 828177.94 4.17 1402
----------------------------------------------------------------------------
TCPCHRD2A1 A-53632 12.00 13.00 846512.09 828176.95 2.50 1431
----------------------------------------------------------------------------
TCPCHRD2A1 A-53633 13.00 14.00 846512.26 828175.84 0.68 1262
----------------------------------------------------------------------------
TCPCHRD2A1 A-53634 14.00 15.00 846512.30 828174.69 0.32 1831
----------------------------------------------------------------------------
TCPCHRD2A2 A-44701 0.00 2.00 846506.00 828199.00 0.18 494
----------------------------------------------------------------------------
TCPCHRD2A2 A-44702 2.00 4.00 846506.00 828198.00 0.07 487
----------------------------------------------------------------------------
TCPCHRD2A2 A-44703 4.00 6.00 846507.00 828195.00 0.04 914
----------------------------------------------------------------------------
TCPCHRD2A2 A-44704 6.00 8.00 846505.00 828193.00 0.25 1839
----------------------------------------------------------------------------
TCPCHRD2A2 A-44705 8.00 10.00 846509.00 828191.00 0.61 25414
----------------------------------------------------------------------------
TCPCHRD2A2 A-44706 10.00 12.00 846507.00 828191.00 0.54 6215
----------------------------------------------------------------------------
TCPCHRD2A2 A-44707 12.00 14.00 846507.00 828190.00 0.05 1247
----------------------------------------------------------------------------
TCPCHRD2A2 A-44708 14.00 16.00 846508.00 828187.00 3.02 3709
----------------------------------------------------------------------------
TCPCHRD2A2 A-44709 16.00 18.00 846509.00 828184.00 1.12 5467
----------------------------------------------------------------------------
TCPCHRD2A2 A-44710 18.00 20.00 846508.00 828182.00 0.63 3853
----------------------------------------------------------------------------
TCPCHRD2A2 A-44711 20.00 22.00 846508.00 828182.00 0.89 3410
----------------------------------------------------------------------------
TCPCHRD2A2 A-44712 22.00 24.00 846505.00 828180.00 1.64 2868
----------------------------------------------------------------------------
TCPCHRD2A2 A-44713 24.00 26.00 846506.00 828178.00 0.72 3882
----------------------------------------------------------------------------
TCPCHRD2A2 A-44714 26.00 28.00 846508.00 828176.00 2.29 1657
----------------------------------------------------------------------------
TCPCHRD2A2 A-44715 28.00 30.00 846509.00 828172.00 1.44 187
----------------------------------------------------------------------------
TCPCHRD2A2 A-44716 30.00 32.00 846507.00 828170.00 0.21 121
----------------------------------------------------------------------------
TCPCHRD2A2 A-44717 32.00 34.00 846508.00 828169.00 0.03 30
----------------------------------------------------------------------------
TCPCHRD2A2 A-44718 34.00 36.00 846507.00 828166.00 0.04 9
----------------------------------------------------------------------------
TCPCHRD2A2 A-44719 36.00 38.00 846508.00 828165.00 0.03 36
----------------------------------------------------------------------------
TCPCHRD2A2 A-44720 38.00 40.00 846509.00 828164.00 0.05 55
----------------------------------------------------------------------------
TCPCHRD2A2 A-44721 40.00 42.00 846508.00 828161.00 2.11 140
----------------------------------------------------------------------------
TCPCHRD2A2 A-44722 42.00 44.00 846508.00 828159.00 2.67 449
----------------------------------------------------------------------------
TCPCHRD2A2 A-44723 44.00 46.00 846506.00 828156.00 0.10 381
----------------------------------------------------------------------------
TCPCHRD2A2 A-44724 46.00 48.00 846508.00 828156.00 0.12 428
----------------------------------------------------------------------------
TCPCHRD2A2 A-44725 48.00 50.00 846509.00 828155.00 0.08 38
----------------------------------------------------------------------------
TCPCHRD2A2 A-44726 50.00 52.00 846508.00 828153.00 0.10 43
----------------------------------------------------------------------------
TCPCHRD2A2 A-44727 52.00 54.00 846510.00 828151.00 0.09 71
----------------------------------------------------------------------------
TCPCHRD2A2 A-44728 54.00 56.00 846512.00 828147.00 0.05 74
----------------------------------------------------------------------------
TCPCHRD2A2 A-44729 56.00 58.00 846513.00 828146.00 0.09 510
----------------------------------------------------------------------------
TCPCHRD2A2 A-44730 58.00 60.00 846514.00 828145.00 0.08 488
----------------------------------------------------------------------------
TCPCHRD2A2 A-44731 60.00 62.00 846515.00 828143.00 0.13 365
----------------------------------------------------------------------------
TCPCHRD2A2 A-44732 62.00 64.00 846516.00 828141.00 0.07 492
----------------------------------------------------------------------------
TCPCHRD2A2 A-44733 64.00 66.00 846515.00 828141.00 0.32 88
----------------------------------------------------------------------------
TCPCHRD2A2 A-44734 66.00 68.00 846516.00 828137.00 0.05 339
----------------------------------------------------------------------------
TCPCHRD2A2 A-44735 68.00 70.00 846514.00 828136.00 0.06 297
----------------------------------------------------------------------------
TCPCHRD2A2 A-44736 70.00 72.00 846516.00 828136.00 0.12 237
----------------------------------------------------------------------------
TCPCHRD2A2 A-44737 72.00 74.00 846515.00 828133.00 0.04 407
----------------------------------------------------------------------------
TCPCHRD2A2 A-44738 74.00 76.00 846516.00 828131.00 0.04 412
----------------------------------------------------------------------------
TCPCHRD2A2 A-44739 76.00 78.00 846516.00 828128.00 0.05 444
----------------------------------------------------------------------------
TCPCHRD2A2 A-44740 78.00 80.00 846515.00 828127.00 0.07 229
----------------------------------------------------------------------------
TCPCHRD2A2 A-44741 80.00 82.00 846517.00 828125.00 0.06 200
----------------------------------------------------------------------------
TCPCHRD2A2 A-44742 82.00 84.00 846518.00 828123.00 0.04 53
----------------------------------------------------------------------------
TCPCHRD2A2 A-44743 84.00 86.00 846518.00 828122.00 0.08 19
----------------------------------------------------------------------------
TCPCHRD2A2 A-44744 86.00 88.00 846520.00 828120.00 0.11 86
----------------------------------------------------------------------------
TCPCHRD2A2 A-44745 88.00 90.00 846519.00 828118.00 2.99 779
----------------------------------------------------------------------------
TCPCHRD2A2 A-44746 90.00 92.00 846522.00 828117.00 0.13 1285
----------------------------------------------------------------------------
TCPCHRD2A2 A-44747 92.00 94.00 846523.00 828115.00 6.50 1092
----------------------------------------------------------------------------
TCPCHRD2A2 A-44748 94.00 96.00 846524.00 828113.00 3.45 918
----------------------------------------------------------------------------
TCPCHRD2A2 A-44749 96.00 98.00 846525.00 828112.00 5.18 497
----------------------------------------------------------------------------
TCPCHRD2A2 A-44750 98.00 100.00 846526.00 828111.00 8.06 146
----------------------------------------------------------------------------
TCPCHRD2A2 A-44751 100.00 102.00 846528.00 828109.00 0.32 266
----------------------------------------------------------------------------
TCPCHRD2A2 A-44752 102.00 104.00 846528.00 828108.00 3.62 452
----------------------------------------------------------------------------
TCPCHRD2A2 A-44753 104.00 106.00 846527.00 828105.00 1.45 573
----------------------------------------------------------------------------
TCPCHRD2A2 A-44754 106.00 108.00 846532.00 828104.00 3.21 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44755 108.00 110.00 846533.00 828102.00 3.70 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44756 110.00 112.00 846536.00 828102.00 0.29 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44757 112.00 114.00 846537.00 828103.00 0.90 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44758 114.00 116.00 846539.00 828102.00 11.07 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44759 116.00 118.00 846539.00 828103.00 14.22 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44760 118.00 120.00 846542.00 828104.00 10.01 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44761 120.00 122.00 846544.00 828104.00 10.92 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44762 122.00 124.00 846545.00 828105.00 1.17 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44763 124.00 126.00 846547.00 828107.00 0.13 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44764 126.00 128.00 846548.00 828107.00 0.16 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44765 128.00 130.00 846549.00 828109.00 0.06 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44766 130.00 132.00 846555.00 828109.00 0.06 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44767 132.00 134.00 846556.00 828109.00 0.08 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44768 134.00 136.00 846557.00 828111.00 0.04 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44769 158.00 160.00 846587.00 828127.00 0.06 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44770 160.00 162.00 846583.00 828125.00 0.03 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44771 162.00 164.00 846583.00 828121.00 0.19 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44772 164.00 166.00 846584.00 828123.00 0.03 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44773 166.00 168.00 846583.00 828122.00 0.02 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44774 168.00 170.00 846584.00 828122.00 0.02 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44775 170.00 172.00 846593.00 828121.00 0.04 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44776 172.00 174.00 846595.00 828121.00 0.02 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44777 174.00 176.00 846595.00 828122.00 0.03 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44778 176.00 178.00 846591.00 828118.00 0.06 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44779 178.00 180.00 846503.00 828123.00 0.14 AA
----------------------------------------------------------------------------
TCPCHRD2A2 A-44780 180.00 182.00 846501.00 828121.00 0.04 AA
----------------------------------------------------------------------------
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Contact
Cadan Resources Corporation
Robert Butchart, President / CEO
butch.cadan@gmail.com
Cadan Resources Corporation
John D. Anderson, Chairman
janderson@cadanresources.com
Cadan Resources Corporation
604 687 0760
604 628 5001 (FAX)
info@cadanresources.com
www.cadanresources.com
