Carlyle News Release - Carlyle receives positive geophysics survey results for improved drill targeting at the Cecilia Gold-Silver Project in Sonora, Mexico
4302 – 1151 West Georgia Street, Vancouver, British Columbia V6E 0B3
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS
News Release
CARLYLE RECEIVES POSITIVE GEOPHYSICS SURVEY RESULTS FOR
IMPROVED DRILL TARGETING AT THE CECILIA GOLD-SILVER PROJECT
IN SONORA, MEXICO
November 5, 2020 CSE:CCC | FSE:1OZ | OTC:DLRYF
CARLYLE COMMODITIES CORP. (CSE:CCC, FSE:1OZ, OTC:DLRYF) (“Carlyle” or the “Company”) is pleased
to announce it has received results from the latest geophysical survey that included 3.8 line-km of Induced
Polarization (IP) in five lines across the Cerro Magallanes rhyolitic dome part of the Cecilia Project in
Sonora, Mexico (the “Project”), where the Company has an option to earn a 100% interest from its partner
Riverside Resources Inc. (“Riverside”).
Ahead of drilling, Carlyle has further refined and detailed drill targets with the geophysical IP survey using
50-m dipole spacing. The close spacing between dipoles helps to delineate structures and reduces the
data variation at shallow depth (noise), allowing for better targeting for Carlyle’s upcoming maiden drill
program (the “Program”) at the Cecilia Project. The anticipated Program will seek to test various gold-
bearing fault/vein structures up to 250 m depth.
Mapping of the rhyolitic dome has highlighted zones of high silicification nearby to breccia and gold -
bearing structural zones. The IP data and new IP pseudo-sections define resistive anomalies (which are
potentially silica zones), along the identified structures at surface for 200 m along strike and remains open.
The IP anomalies coincide with past sampling in the area of historical drilling where Cambior Inc. (1995)
in drillhole 138-95-08 reported drilling 30.0 m at 1.41 g/t gold1 (see Figure 1 below).
1 (Morales-Ramírez, J.M. and Ramsay, E. (1996). Magallanes Project Exploration Report, Oro Grande Joint Venture.
Internal Report for Cambior Exploración S.A. de C.V.)
Figure 1: 3D view of northeast trending IP resistivity zones across the Cerro Magallanes dome. 100m
line spacing with 50m spacing dipole spacing shows sev eral shallow anomalies. The red lines are
showing the primary mineralized trends correlated with the resistive anomalies in the IP sections.
Carlyle’s Chief Executive Officer, Morgan Good, commented, “The Carlyle team is yet again pleased with
more positive results from our exploration work ahead of the maiden drill program at our Cecilia Project
in Sonora, Mexico. These geophysical findings add further excitement around the building confidence we
are continuing to gather, particularly with their coincidental alignment of the favourable historical
results, as we progress towards our maiden drill campaign.”
Riverside’s President and CEO, John-Mark Staude, stated, “We are pleased to work with our partner
Carlyle Commodities Corp. to be exploring the Cecilia Mineral District and this current technical work
improves the visualization of the targets. The Cecilia Project program is going in the right direction, the
site is being prepared for drilling, with completed roads and many of the drill pads already in place.”
Carlyle and Riverside are working closely together to progress to the drilling phase of the Program at the
Cecilia Project which will include an aggregate of 1,500 m of initial drilling to test high-grade targets: San
Jose, North Breccia and Central Targets. The San Jose Target previously returned 43.2 g/t Au (out of 21
samples; as disclosed in Carlyle’s press release dated September 21, 2020). Additional results in the
upcoming weeks are expected to include:
• A drone aeromagnetic survey, which will help with vectoring in on magnetic anomalies at depth;
and
• Results from the next batch of channel samples covering the east-west extension between the
San Jose and Central Targets.
Qualified Person
Harrison Cookenboo, Ph.D., P.Geo., is a Qualified Person as defined in Canadian National Instrument 43-
101 – Standards of Disclosure for Mineral Projects and has reviewed and is responsible for the technical
information presented in this news release.
About Carlyle
Carlyle is a mineral exploration company focused on the acquisition, exploration and development of
mineral resource properties. The Company has an option to earn a 100% interest in the Cecilia Gold-Silver
Project located in the State of Sonora, Mexico. Carlyle formed a strategic partnership with Hunter
Dickinson Inc. (“HDI”) and has formed a 50-50 joint venture with HDI affiliate United Mineral Services Ltd.
on the Mack Project and has an option to earn a 50% interest in the Jake project, both located in B.C.
Carlyle 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”.
ON BEHALF OF THE BOARD OF DIRECTORS OF CARLYLE COMMODITIES CORP.
“Morgan Good”
Morgan Good
Chief Executive Officer
For more information regarding this news release, please contact:
Morgan Good, CEO and Director
T: 604-715-4751
W: www.carlylecommodities.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-
looking statements”) within the meaning of applicable Canadian legislation. All statements in this news release that
are not purely historical are fo rward-looking statements and include statements regarding beliefs, plans,
expectations and orientations regarding the future including, without limitation, the exercise of the Company’s option
on Cecilia Project, the expected results of the Program, and any plans for further exploration of the Cecilia Project.
Although the Company believes that such statements are reasonable and reflect expectations of future developments
and other factors which management believes to be reasonable and relevant, the Company can give no assurance
that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as:
“believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”,
“scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future
events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking
statements in this news release, the Company has applied several material assumptions, including without limitation,
that the Company will exercise its option on the Mack Project and form the joint venture with UMS (or its assigns),
that the results of the work to be conducted on the Cecilia Project will be satisfactory to warrant further exploration,
that market fundamentals will support the viability of gold and other precious mineral exploration of the Cecilia
Project, the availability of the financing required for the Company to carry out its planned future activities, and the
Company’s ability to retain and attract qualified personnel.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to differ materially from any future results, performance
or achievements expressed or implied by the forward-looking information. Such risks and other factors include the
inability of the Company to exercise its option on the Cecilia Project, execute its proposed business plans, and carry
out planned future activities. The novel strain of coronavirus, COVID-19, also poses new risks that are currently
indescribable and immeasurable. Other factors may also adversely affect the future results or performance of the
Company, including general economic, market or business conditions, future prices of gold or other precious metals,
changes in the financial markets and in the demand for gold or other precious metals, changes in laws, regulations
and policies affecting the mineral exploration industry, and risks related to the Company’s investments and
operations in the mineral exploration sector, as well as the risks and uncertainties which are more fully described in
the Company’s annual and quarterly management’s discussion and analysis and other filings made by the Company
with Canadian securities regulatory authorities under the Company’s profile at www.sedar.com. Readers are
cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are
cautioned not to put undue reliance on forward -looking statements due to the inherent uncertainty of such
statements.
These forward-looking statements are made as of the date of this news release and, unless required by applicable
law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why
actual results could differ from those projected in these forward-looking statements.
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.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts
responsibility for the adequacy or accuracy of this release).