Kinbauri Drills 3.15m Grading 11.6g Au/t and 2.76% Cu, Including 1.5m Grading 19.5g Au/t and 5.1% Cu
April 01 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 from the 107 Area/Black Skarn North
zones include:
- 3.15m grading 11.6g Au/t, 64g Ag/t and 2.76% Cu in DDH
08KV1061 including 1.5m grading 19.5g Au/t, 109g Ag/t and 5.1%
Cu
- 3.65m grading 6.2g Au/t and 0.51% Cu and 1.25m grading 16.0g
Au/t and 0.15% Cu in DDH 08KV1067
- 19.25m grading 2.5g Au/t and 0.77% Cu in DDH 08KV1070
including 7.25m grading 4.0g Au/t and 1.06% Cu
Results From The In-Fill Drilling: Area 107 and Black Skarn
North
The underground infill program continues to generate excellent
results, most notably high grade Au and Cu values. Assays as
received from a further six diamond drill holes from the in-fill
drill program are summarized as follows:
HOLE From To Interval %(2) Au Ag Cu Zone/
(DDH)(1) (m) (m) (m) (g/t) (g/t) (%) Section(3)
08KV1061 140.50 143.65 3.15 84 11.55 64 2.76 107W1125
including 140.50 142.00 1.50 " 19.50 109 5.11
08KV1061 155.20 156.85 1.65 " 3.60 4 0.02
----------------------------------------------------------------------
08KV1064 No Intercepts greater " BSN West
than 2 g/t Au eq
----------------------------------------------------------------------
08KV1066 50.35 53.50 3.15 60 1.45 6 0.69 BSN/10.5
08KV1066 56.40 82.35 25.95 " 1.72 8 0.50
Including 56.40 57.90 1.50 " 3.10 17 2.72
Including 73.05 82.35 9.30 " 2.27 14 0.58
----------------------------------------------------------------------
08KV1067 53.70 56.20 2.50 97 1.76 13 0.59 BSN/1025
08KV1067 65.35 66.60 1.25 " 15.99 11 0.15
08KV1067 73.35 79.60 6.25 " 4.72 16 0.51
Including 73.35 77.00 3.65 " 6.16 19 0.51
08KV1067 87.30 92.40 5.10 " 4.15 10 0.81
----------------------------------------------------------------------
08KV1069 70.95 95.65 24.70 40 2.00 13 0.62 BSN/10.5
Including 79.00 83.10 4.10 " 3.33 24 0.00
Including 85.40 86.25 0.85 " 8.48 53 2.84
Including 88.80 91.30 3.10 " 2.52 15 1.11
----------------------------------------------------------------------
08KV1070 54.85 74.10 19.25 85 2.54 12 0.77 BSN/1025
Including 59.45 66.70 7.25 " 4.09 15 1.06
Including 63.85 65.50 1.65 " 9.06 27 1.43
(1) See Schedules A and B for Location. (2) % value gives estimate of True
Thicknesses. (3) 107W is Area 107 West and BSN is Black Skarn North
Thick skarn sections continue to be intersected in both the
Central and East Areas of Black Skarn North; high grade gold
intervals reflect the intersection of epithermal structures with
the skarn.
Results From Area 208 Exploration Drilling
Results have also been received from the last hole (07VAL236)
drilled on the eastward extension of Area 208. The hole intersected
several oxidized and silicified zones, being characterized by
jasperoid, jasperoid breccias and silicified dolomites, which
generally host gold. Resources for Area 208 are currently included
in those determined for the East Breccia, which appears to be a
northern extension of Area 208. Results from 07VAL236 are listed
below:
----------------------------------------------------------------------
HOLE From To Interval Au Ag Cu
(m) (m) (m)(1) (g/t) (g/t) (%)
----------------------------------------------------------------------
07KVAL236 120.45 124.2 3.75 5.58 less than 0.012
1.99
Including 120.45 122.45 2 8.56 less than less than
1.99 0.01
----------------------------------------------------------------------
07KVAL236 134.95 136.95 2 4.93 less than 0.01
1.99
----------------------------------------------------------------------
07KVAL236 142.2 143.75 1.55 0.05 less than 0.84
1.99
----------------------------------------------------------------------
07KVAL236 151.6 162.45 10.85 2.38 2.28 0.02
Including 151.60 154.70 3.10 5.28 2 0.02
----------------------------------------------------------------------
07KVAL236 169.95 172.00 2.05 4.05 less than 0.02
1.99
----------------------------------------------------------------------
07KVAL236 215.15 221.80 6.65 2.90 less than 0.01
1.99
Including 219.90 221.80 1.9 7.30 less than 0.01
1.99
----------------------------------------------------------------------
07KVAL236 256.40 257.65 1.25 1.21 6 1.54
----------------------------------------------------------------------
07KVAL236 260.50 261.25 0.75 3.22 14.00 5.12
----------------------------------------------------------------------
07KVAL236 273.65 277.35 3.70 1.86 5.41 1.20
----------------------------------------------------------------------
07KVAL236 284.75 289.30 4.55 2.23 10.34 1.61
Including 284.75 287.10 2.35 3.9 17.68 2.83
Including 285.90 287.10 1.20 6.97 26 3.43
----------------------------------------------------------------------
07KVAL236 292.25 301.00 8.75 0.5 5.15 1.36
Including 293.25 293.55 0.3 3.02 34.00 7.25
----------------------------------------------------------------------
(1) True Thickness cannot be realistically estimated without further drill
confirmation.
These results indicate a multiplicity of gold bearing zones and
at least two stages of mineralization, one leading to very high
copper values, within Area 208; this is the first time that copper
sulphides were observed in this area. Additional drilling will be
required to determine the continuity of these zones and the total
potential of Area 208 and the East Breccia zone; further drilling
of these two zones has been deferred until the in-fill program is
completed in July.
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. V. N. Rampton, P. Eng in
his capacity as a qualified person. 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 April 1st, 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.
Schedules A & B are available on the following address:
http://media3.marketwire.com/docs/KNB_MAP.pdf
Contacts: North America: Darrell Munro, BB.A, LL.B, Manager
Corporate Communications 613-836-0198 dmunro@kinbauri-gold.com Dr.
Vern Rampton, P. Eng., President 613-836-2594
vrampton@kinbauri-gold.com Dr. Chris Gleeson, P. Eng.,
Vice-President Exploration 613-652-4594 c.gleeson@persona.ca
Europe: INVESTEL Ruediger (Rudy) Hnyk, CEO 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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