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Cardero seeks to discover and fast track the development of its dynamic, multi-commodity portfolio of high-quality precious and base metal prospects in attractive under-explored regions of Mexico, Peru and Argentina.
Cardero's commodity focus includes: iron, copper, gold
Founded in 1999, Cardero has developed an extensive network of financial, mining and government relationships. Cardero continues to maximize shareholder value by utilizing management's extensive geological and operational expertise to implement the most economically sound and environmentally friendly approach to building its business.
Cardero Resource Corp. engages in the acquisition, exploration, and development of mineral properties in Argentina, Mexico, Chile, and Peru. It primarily explores for gold, silver, copper, and iron ore. The company has options to acquire 100% interests in Incahuasi property, which consists of seven minas, two cateos, and one tailing concession located in Catamarca Province, Argentina; Baja California Norte (IOCG) Project in Mexico; and Pampa de Pongo property, which consists of 8 adjoining mineral claims form contiguous claim block of 8,000 hectares. It also has agreements to acquire an interest, or the right to acquire an interest in various properties, including Mina Azules property, located in Jujuy Province, Argentina; La Poma Property, situated in Salta Province, Argentina; Amable Maria property, located in the Provinces of Chanchamayo and Jauja, Department of Junin, Peru; Lolita property, situated in the municipality of Lopez, Chihuahua State, Mexico; and Pedernales property, Chile. Cardero Resource was incorporated in 1985 as Halley Resources, Ltd. and changed its name to Rugby Resources Limited in 1991. Later, it changed its name to Euro-Ad Systems, Inc. in 1993; to Sun Devil Gold Corp. in 1997; and to Cardero Resource Corp. in 1999. The company is headquartered in Vancouver, Canada.
http://www.cardero.com
Cardero Resource Corp.
Suite 1901 1177 West Hastings Street
Vancouver, B.C. V6E 2K3
Tel: 604-408-7488
Fax: 604-408-7499
General Information: info@cardero.com
Investment and Corporate Communications
Quentin Mai
604-408-7488 (ext. 226)
qmai@cardero.com
Highlights
* Aggressively exploring over 200,000 hectares of highly prospective Iron Oxide Copper Gold (IOCG) ground within the Alisitos Arc in Baja California Norte
* In 2003, regional targeting highlighted numerous high priority target areas. Subsequent ground follow-up and 'screening' identified several large, zoned hydrothermal systems with associated iron oxide copper gold mineralization (see PR May 19, 2004)
* In 2006, Copper Mineralization intersected at Baja IOCG project. In summary, all drill holes contain intense (texture destructive) IOCG alteration with associated visible copper mineralization (chalcopyrite) that varies from trace amounts to significant accumulations (+20 m). The results indicate that this newly discovered district displays all of the key criteria necessary to form a large copper (Cu) bearing IOCG deposit (see PR Jan 05, 2006)
* March 29, 2006, at Picale Target, Borehole 05-PC-03 intersected 6.5m of massive to semi-massive magnetite - chalcopyrite mineralization that graded 4% Cu & 0.4 g/t Au, within which 4.2m returned 5.5% Cu and 0.56 g/t Au (see PR March 29, 2006)
Highlights
* At 100% owned Iron Sands project totaling 32,000 Ha south of Nazca, coastal region of Southern Peru, initial test results of two bulk samples sent to Midrex Technologies in North Carolina, USA has characterized property as "very encouraging", concluding that a "liquid metal button containing ~ 94% iron, ~ 5% carbon and <0.05% sulphur can be produced with excellent separation of metal to slag." (see PR June 23, 2005)
* Pampa de Pongo, a 100% owned project totaling 8,000 Ha in Marcona District, Rio Tinto concluded that, "Wide-spaced drilling suggests a potential resource of 1,000Mt comprising approximately 75% magnetite." Furthermore, preliminary metallurgical test work carried out by RT indicated that a simple low intensity magnetic separation could produce a saleable concentrate grading 66 to 69% iron (see PR June 24, 2004)
* The independent resource estimate concluded that the Pampa de Pongo deposit contains an Inferred Resource of approximately 953 million tonnes averaging 44.7% Fe, 0.12% Cu, 0.09 g/t Au based on the results of the 2004-2005 drill campaign, 3D magnetic modeling as well as prior drill results obtained by Rio Tinto plc. (see PR September 06, 2005)
* Seven properties 100% owned totaling 60,000 hectares around the productive Marcona IOCG district
The Marcona IOCG district is the most economically important in Southern Peru because it hosts the large iron oxide (+/- copper-gold) deposits of the Marcona mine (1,400 million tonnes iron ore) and Pampa de Pongo (1,000 million tonnes 75% magnetite)
Highlights
* Nineteen gold and copper gold properties partially or 100% owned by Cardero totalling over 125,000 hectares.
* Finalizing the acquisition of twelve new gold properties located in the provinces of Jujuy and Catamarca in northwest Argentina. The properties cover an aggregate area of approximately 580 square kilometres and are a combination of 100% Cardero owned (staked) ground and land being acquired through option agreements with local third parties (presently being finalized). The discovery and acquisition of these properties is the result of an aggressive year long multidisciplinary regional exploration program targeting a Sedimentary Hosted Vein (SHV) model in the 61,000 square kilometre Ordovician Santa Victoria Basin.
* Geologically, the Huachi property is comprised of a high-level porphyry complex that displays all the characteristics of a high sulfidation, epithermal gold system. The property is also prospective for porphyry copper mineralization, the underlying intrusive phases are cross-cut by a well-developed quartz - sulphide stockwork and, locally, copper oxides (in addition to bornite - chalcopyrite - quartz - magnetite - 'shreddy' biotite and potassium feldspar) are present. During the initial property examination and due diligence Cardero geologists collected 47 rock samples within the "Main Stockwork Zone" at Huachi. Anomalous gold grades were returned from every area sampled, with an average of all samples returning 0.88 g/t gold. In addition, a 135 metre long continuous chip sample, collected in a distal portion of the system, averaged 0.38 g/t gold (within which a 10 metre chip sample returned 4.18 g/t gold).
Share Structure
(as at January 17, 2011)
Shares Issued 59,260,602
Warrants 0
Options 4,835,000
Shares Fully Diluted 64,095,602
Share structure defined: http://www.cardero.com/s/ShareStructure.asp
Float: 46.4M
% Held by Insiders: 12.00%
% Held by Institutions: 17.00%
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