It's a 16gb card so should be enough space. (in fact have tried two different 16gb cards and get same message for both).
I followed 'new procedure' instructions on http://forum.xda-developers.com/show....php?t=2062613 to make CWM card without burning image - it also specifically says not to create partition on disk.
I guess I need to go back and try the old way...
16gb is pretty big if you will keep the card for this purpose. If you do the old way of burning an image, you will as I said before need to resize the partition to have access to all the space.
I did locate one message in the other thread with your error message in CWM and he was also using a large card (32gb). It worked for him when he used the 4gb image file. Obviously a lot space lost. I've previously burned the 4gb image to an 8gb card and resized the partition. I never saw your error.
Sent from HD+ MAG2GA CM 11 from SD