Christopher James Gold Corp.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 23, 2008) – Christopher James Gold Corp. (TSX VENTURE:CJG) (“the Company”), together with its wholly-owned subsidiary, DeepRock Geothermal Inc., is pleased to report the completion of a preliminary geophysical survey at the Canoe Reach geothermal project in British Columbia.
The Canoe Reach Geothermal Project is located approximately 32 km southeast of the Town of Valemount, B.C., along the banks of the Canoe River (between the Malton Range of the Monashee Mountains and the Canoe Range of the Rocky Mountains). Surface manifestations of the geothermal system, consisting of a series of high-temperature hot-springs and mud-pools, extend over a 1,500 meter strike length. The geothermal permit area is 550 hectares and the Project is covered by Permit # 55274, consisting of 7 PNG grid units. The hot springs are accessible via the local forestry service road, a journey of approximately 21.8 km from Valemount, and can also be accessed via Kinbasket Lake. The project is approximately 7 km away from a substation on the BC Hydro Power grid.
The Company contracted Quantec Geoscience Ltd. to conduct a Titan- 24 magnetotelluric (“MT”) resistivity survey, which was completed in August 2008. The purpose of this geophysics survey is to determine the likely extent and depth of the geothermal reservoir. The final report is pending; however, a preliminary assessment of the data shows a series of resistivity lows under the hot spring zones which are interpreted as potential reservoirs. The data will aid significantly in delineating the boundaries of the geothermal reservoir and for planning follow up exploration work expected to take place in late 2008.
Company President Dr. E. Max Baker commented: “The preliminary results from the Titan 24 MT survey conducted over the Canoe Reach Geothermal project are encouraging, and the Company will be conducting several additional lines of Titan 24 in October, to better define the extent of the resistivity lows already identified. In addition, several shallow thermal-gradient drill holes (3 – 4 DDH) and down-hole geophysical soundings are planned for late 2008, subject to regulatory approvals.”
The Company can acquire up to a 90% interest in the Canoe Reach Geothermal Project by making a final payment of $1,000,000 by December 15, 2008. Candorado will retain a 10% free-carried interest, which can be bought out by the Company at any time over the next 5 years for $2.5 million.
This news release was prepared by Dr. Max Baker, President and CEO of the Company. The P.Geo for the project is Timothy L. Sadlier- Brown, a geothermal consultant based in Vancouver.
About Christopher James Gold
Christopher James Gold Corp. is a Canadian resource exploration company trading on the TSX Venture Exchange under the ticker symbol “CJG”.
The Company currently has approximately $3,500,000 in its Treasury and is well-funded to explore its portfolio of projects in B.C., including the newly acquired Canoe Reach Hot Springs Geothermal Project. In southern British Columbia the Company owns 100% of the Copper Creek claims located in the Kamloops mining district, an option on the Tillicum Lake property in the Cariboo mining district, 100% of the gold and copper rights to the historic Craigmont Mine, in addition to the Big Kidd, Little Fort, and Brassie Creek gold properties. The Company is actively pursuing other advanced exploration projects through JV and/or acquisition.
About Quantec Geoscience
Founded in 1986, Quantec Geoscience is a leading global provider of geoscience solutions. For over twenty years, Quantec has provided geophysical contracting and consulting services to a multitude of mining companies of all sizes, from the world’s largest diversified enterprises, to emerging juniors focused on grass roots exploration, including geothermal. During this time, Quantec has completed over 2000 projects and counting and has developed a proprietary technology known as Titan24.
CHRISTOPHER JAMES GOLD CORP.
Dr. E. Max Baker, President and CEO
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