Kinbauri Gold Drills 27.9m Grading 5.4g Au/t, 14.5g Ag/t and 0.8% Cu, Including 3.5m of 18.3g Au/t, 46.0g Ag/t and 1.6% Cu
March 18 2008 - 7:00AM
Marketwired
OTTAWA, ONTARIO (TSX VENTURE: KNB)(FRANKFURT: 3KG.DE) is pleased
to announce the latest results from its on-going 23,000m
underground drilling program at El Valle in northwestern Spain.
Highlights of the assay results include:
- 27.9m grading 5.4g Au/t, 14.5g Ag/t and 0.78% Cu in DDH
08KV1058 including 3.5m grading 18.3g Au/t, 46.0g Ag/t and 1.6%
Cu
- 10.1m grading 11.0g Au/t, 2.5g Ag/t and 0.54% Cu in DDH
08KV1058 including 3.2m grading 29.3g Au/t, 4.0g Ag/t and 0.43%
Cu
- 1.5m grading 10.1g Au/t, 2.0g Ag/t and 0.22% Cu in DDH
08KV1054
- 26.7m grading 3.0g Au/t, 6.1g Ag/t and 0.36% Cu in DDH
08KV1060 including 4.1m grading 8.2g Au/t, 7.5g Ag/t and 0.27% Cu
including 2.2m grading 5.6g Au/t, 13.9g Ag/t and1.26% Cu
- 1.8m grading 8.0g Au/t, 25.0g Ag/t and 0.83% Cu in DDH
08KV1060
The underground infill program continues to generate excellent
results, most notably high grade Au and Cu values where the Area
107 epithermal structure intersects Black Skarn mineralization.
Assays as received from a further eight diamond drill holes at
El Valle are summarized as follows:
HOLE (DDH) From (m) To (m) Interval Au (g/t) Ag Cu(%) Zone/Section
(1) (m) (g/t) (3)
(2)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
08KV1065 36.85 38.60 1.75 2.72 4.00 0.16 BSN/1050
08KV1065 47.60 49.40 1.80 3.11 9.00 0.43 (1.5)
08KV1065 63.50 70.15 6.65 2.22 5.00 0.27
including 68.95 70.15 1.20 6.30 20.00 0.52
08KV1065 75.00 89.15 14.15 1.96 7.81 0.45
including 79.00 83.15 4.15 3.77 19.00 0.96
--------------------------------------------------------------------------
08KV1063 37.75 79.35 43.60 0.94 3.70 0.56 107/10.5
including 41.70 42.20 0.50 2.74 28.00 3.36
including 43.30 45.45 2.15 2.03 10.00 0.93
--------------------------------------------------------------------------
08KV1060 36.00 37.80 1.80 8.04 25.00 0.83 BSN/1050
08KV1060 42.40 69.10 26.70 2.99 6.10 0.36 (1.5)
including 42.40 43.70 1.30 4.87 27.0 0.75
including 47.00 49.20 2.20 5.57 13.90 1.26
including 55.10 59.20 4.10 8.20 7.50 0.27
--------------------------------------------------------------------------
08KV1058 34.70 62.55 27.85 5.37 14.50 0.78 A107/10.5
including 44.00 47.45 3.45 18.25 46.00 1.57
including 54.25 58.10 3.85 7.88 26.50 2.15
08KV1058 138.00 148.10 10.10 10.99 2.50 0.54
including 142.30 145.50 3.20 29.30 4.00 0.43
--------------------------------------------------------------------------
08KV1057 31.70 33.25 1.55 0.50 20.00 1.09 BSN/1050
08KV1057 69.05 70.00 0.95 2.25 4.00 0.27 (1.5)
--------------------------------------------------------------------------
08KV1055 32.80 34.50 1.70 4.36 10.0 0.38 107/10.5
08KV1055 42.00 43.20 1.20 0.11 103.0 1.44
08KV1055 152.40 157.00 4.60 2.89 2.00 0.79
including 152.40 155.00 2.60 4.40 2.00 0.17
--------------------------------------------------------------------------
08KV1054 165.15 174.70 9.55 3.64 17.20 0.38 107W/1140
including 168.20 173.65 5.45 5.53 24.60 0.15
including 168.20 169.70 1.50 10.06 2.00 0.22
including 172.60 173.65 1.06 10.86 2.00 0.09
--------------------------------------------------------------------------
08KV1052 116.95 118.50 1.55 1.98 2.00 0.01 107W/825-6W
--------------------------------------------------------------------------
(1) See press release of March 7th : Schedules A and B for relative
location (2) True Thicknesses are estimated to be 97% of intervals for
08KV1051 and 08KV1060; 88% of intervals for 08KV1058; 82% intervals for
08KV1052 and 08KV1055; 76% of intervals for 08KV1052; 70% of intervals for
08KV1057, 08KV1063 and 08KV1054; and 58% intervals for 08KV1065, (3) 107 is
Area 107,107W is Area 107 West and BSN is Black Skarn North
Holes 08KV10057, 08KV1060 and 08KV1065 intersect the Central
Area of the North Black Skarn. Hole 08KV1054 confirms substantial
widths and gold grades that can be found within epithermal
jasperoid breccia found within Area 107. Holes 08KV1055, 08KV1058
and 08KV1063 contain high grade Au and Cu values, especially
08KV1058; a result of the epithermal mineralization attached to
Area 107 structures being superimposed on the Black Skarn
mineralization.
Dr. Vern Rampton, P. Eng, Kinbauri's President and Chief
Executive Officer commented "In-fill drilling results continue to
show high grades and lengthy intersections that have given us the
confidence to initiate engineering and mining studies leading to
feasibility: mineralization in most infill holes being drilled was,
and is, obvious to the eye."
The drill program is being supervised by Mr. Santiago
Gonzalez-Nistral, Kinbauri Espana's senior geologist, with quality
control being provided by Dr. C. F. Gleeson, P. Eng., Kinbauri's
Vice-President of Exploration: both are qualified persons as
defined by N.I. 43-101. Details of Kinbauri's Assay and Quality
Assurance Programs are reported in press release of February 27th,
2008. This press release was prepared by Dr. C. F. Gleeson, P. Eng
and Dr. V. N. Rampton, P. Eng in their capacity as qualified
persons. Dr. Rampton will record a "Beyond The Press Release" on
the Company's official Investor Relations Site at
http://www.agoracom.com/IR/kinbauri, where these results will be
discussed in detail. The recording is expected to be available on
or after March 19th, 2008.
Kinbauri is a TSXV -- Tier 1 Mineral Exploration Company focused
on the development of mineral properties, primarily precious metal
prospects in northwestern Spain, Nevada and Canada. Its immediate
focus is to expand and upgrade resources to reserves at the El
Valle property in Asturias, Spain in order to start operations at
the mine and existing mill complex there in 2010. It currently has
44,416,320 common shares issued and outstanding.
THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX
VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
This press release contains certain forward-looking statements,
which are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ materially from those projected. Kinbauri
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
forward-looking statements.
Contacts: North America Kinbauri Gold Corp. Darrell Munro BB.A,
LL.B, Manager Corporate Communications 613-836-0198
dmunro@kinbauri-gold.com Kinbauri Gold Corp. Dr. Vern Rampton P.
Eng., President 613-836-2594 vrampton@kinbauri-gold.com
kinbauri@kinbauri-gold.com Kinbauri Gold Corp. Dr. Chris Gleeson P.
Eng., Vice-President Exploration 613-652-4594 c.gleeson@persona.ca
www.kinbauri-gold.com Europe INVESTEL Ruediger (Rudy) Hnyk Investor
Relations & Telecommunications ceo@investel.de Kinbauri Gold's
Hub http://www.agoracom.com/IR/kinbauri Kinbauri Web-Site
www.kinbauri-gold.com
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