Kinbauri Drills 44m Grading 3.1g Au/t, 12g Ag/t and 0.53% Cu, Including 8.7m Grading 34.9g Au/t, 66g Ag/t and 0.99% Cu
April 17 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:
- 43.95m grading 3.1g Au/t, 12g Ag/t and 0.53% Cu in
DDH08KV1081
including 8.7m grading 34.9g Au/t, 66g Ag/t and 0.99% Cu
- 28.6m grading 4.0g Au/t, 15g Ag/t and 0.45% Cu in
DDH08KV1078
including 13.5m grading 6.5g Au/t, 20g Ag/t and 0.61% Cu
- 2.3m grading 5.1g Au/t, 126g Ag/t and 3.94% Cu in
DDH08KV1075
- 1.3m grading 6.0g Au/t, 40g Ag/t and 1.52% Cu in
DDH08KV1074
- 17.5m grading 2.7g Au/t, 6g Ag/t and 0.26% Cu in
DDH08KV1073
including 3.2m grading 5.9g Au/t, 6g Ag/t and 0.23% Cu.
The underground infill program continues to generate excellent
results. Assays as received from a further 10 diamond drill holes
from the in-fill drill program are summarized as follows:
HOLE From Inter- %(2) Au Ag Zone/
(DDH) (1) (m) To (m) val(m) (g/t) (g/t) Cu(%) Section(3)
BSN:107/11
08KV1081 27.70 71.65 43.95 68 3.12 11.89 0.53
Including 27.70 30.85 3.15 " 4.75 21.00 1.29
Including1 29.95 30.85 0.90 " 9.50 23.00 0.54
Including 53.25 56.15 2.90 " 4.36 13.00 0.10
08KV1081 78.70 87.40 8.70 " 34.88 66.00 0.99
Including 86.70 87.40 0.70 " 383.00 688.00 10.01
-------------------------------------------------------------------------
08KV1080 77.60 82.60 5.00 82 2.08 2.00 0.06 BSN/1025
-------------------------------------------------------------------------
08KV1078 38.2 59.2 21.00 64 1.83 9.39 0.71 BSN:107/11
Including 38.20 44.80 6.60 " 2.23 15.70 1.38
Including 52.00 59.20 7.20 " 2.67 9.75 0.59
08KV1078 68.20 96.80 28.60 " 3.99 15.37 0.45
Including 68.20 81.70 13.50 " 6.48 20.28 0.61
08KV1078 102.50 130.80 28.30 " 1.85 10.52 0.57
Including 104.50 110.50 6.00 " 4.98 20.75 0.57
Including 109.00 110.50 1.50 " 12.60 70.00 1.81
Including 129.50 130.80 1.30 " 4.70 17.00 1.88
08KV1078 137.50 138.80 1.30 " 8.60 9.00 0.57
-----------------------------------------------------------------------
08KV1077 86.30 87.30 1.00 77 7.99 2.00 0.05 BSN/1025
08KV1077 95.80 99.05 3.25 " 4.06 4.00 1.85
-----------------------------------------------------------------------
08KV1076 128.45 135.50 7.05 " 2.10 2.00 0.11
Including 128.45 130.00 1.55 " 4.20 2.00 0.06 107/6
-----------------------------------------------------------------------
08KV1075 121.95 124.25 2.30 98 5.1 126.00 3.94 107/11
Including 121.95 122.95 1.00 " 10.20 152.00 5.31
-----------------------------------------------------------------------
08KV1074 117.90 121.20 3.30 53 4.67 18.48 0.38 BSN:107W/825
Including 119.30 121.20 1.90 " 6.90 24.00 0.29
08KV1074 124.95 136.50 11.55 " 2.98 13.00 0.45
Including 128.45 129.75 1.30 " 6.03 40.00 1.52
Including 133.05 135.00 1.95 " 6.05 15.00 0.41
-----------------------------------------------------------------------
08KV1073 75.20 92.70 17.50 83 2.7 6.08 0.26 BSN/1025
Including 85.40 88.60 3.20 " 5.85 6.00 0.23
08KV1073 108.60 112.20 3.60 " 2.28 6.00 0.47
Including 108.60 109.15 0.55 " 12.46 4.00 0.32
08KV1073 130.45 136.9 6.45 " 1.05 9.65 0.58
-----------------------------------------------------------------------
08KV1072 34.75 35.80 1.05 60 2.21 13.00 0.53 BSN/1025
08KV1072 51.80 57.05 5.25 " 2.41 2.00 0.02
Including 54.40 55.70 1.30 " 5.71 3.00 0.03
-----------------------------------------------------------------------
08KV1071 No intercepts greater " 107/11
than 2 g/t Au eq
-----------------------------------------------------------------------
(1) See Schedules A and B for Location. (2) Percentage Estimate of True
Thicknesses. (3) 107 is Area 107 107W is Area 107 West and BSN is Black
Skarn North
DDHs 08KV1072, 1073, 1077 and 1080 are infill holes on section
1025 (Schedule B) and continue to define the continuity of the
Black Skarn North in this area. DDHs 08KV1071, 1075, 1078, and 1081
are infill holes that have been drilled into the Black Skarn North
on Section 11 (Schedule A). Results from 08KV1078 and 1081 confirm
the continuity of the wide (wider than 10m) high grade gold zone
previously reported in hole 07KV1009R (press release of August
22nd, 2007) where Area 107 intersects the Black Skarn.
DDH 08KV1074 forms part of the infill drilling program in Black
Skarn North, to the west of the Charnela Structure, where previous
holes 08KV1047 (press release of February 27th, 2008) and 08KV1059
(press release of March 10th, 2008) intersected substantial
thicknesses of Au-Cu-Ag bearing magnesium skarn similar to that
found in hole 08KV1074 (eg 11.55m assaying 2.98g Au/t, 13g Ag/t and
045% Cu). This western extension of the Black Skarn Zone could
potentially add several million tones to the El Valle resource.
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 a press release of February
27th, 2008. This press release was prepared by Drs V. N. Rampton,
P. Eng and C. F. Gleeson, 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. The recording is expected to
be available on or after April 18th, 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
45,499,876 common shares issued and outstanding.
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.
Visit Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri
where investors can post questions and receive answers or review
questions and answers already posted by other investors. Kinbauri
Web-Site: www.kinbauri-gold.com
Schedule A:
http://media3.marketwire.com/docs/2008-14%20Schedules%20A.pdf
Schedule B:
http://media3.marketwire.com/docs/2008-14%20Schedules%20B.pdf
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.
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
cgleeson@kinbauri-gold.com Europe INVESTEL Ruediger (Rudy) Hnyk CEO
Investor Relations & Telecommunications ceo@investel.de
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