KINBAURI DRILLS 26.7m Grading 19.6g Au/t, 69.9g Ag/t and 2.57% Cu, Including 1.3m Grading 162.3g Au/t, 516.0g Ag/t and 13.42% Cu
May 20 2008 - 10:12AM
Marketwired Canada
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(Frankfurt:3KG.DE) is pleased
to announce more results from its on-going 23,000m underground in-fill drilling
program at El Valle and its 500m underground exploration drilling program at
Carles in northwestern Spain.
Highlights of assay results from Black Skarn North ("BSN") and Area 107 ("107")
include:
- 26.7m grading 19.59g Au/t, 69.9g Ag/t and 2.57% Cu in DDH08KV1105, including
2.5m grading 105.06g Au/t, 324.0g Ag/t and 7.89% Cu.
- 27.4m grading 3.73g Au/t, 39.2g Ag/t and 1.49% Cu also in DDH08KV1105,
including 7.8m grading 9.42g Au/t, 56.8g Ag/t and 2.25% Cu.
- 27.6m grading 2.80g Au/t, 14.5g Ag/t and 0.89% Cu in DDH08KV1099, including
3.3m grading 5.77g Au/t, 11.0g Ag/t and 0.29% Cu.
And from Carles North include:
- 16.6m grading 3.10g Au/t, 11.3g Ag/t and 0.42% Cu in DDH08KC1008, including
1.3m grading 11.99g Au/t, 55.0g Ag/t and 2.8% Cu.
- 3.0m grading 7.15g Au/t and 0.03% Cu and 10.3m grading 2.76g Au/t, 4.5g Ag/t
and 0.62% Cu in DDH08KC1007, including 0.7m grading 5.63g Au/t, 15.0g Ag/t and
1.06% Cu.
El Valle: Black Skarn North/Area 107:
The most recent results show higher grades and greater continuity within BSN
than previously expected. Assays from the latest five diamond drill holes are
summarized as follows:
HOLE From To Interval % (2) Au Ag Cu Zone
(DDH) (1) (m) (m) (m) (g/t) (g/t) (%) /Section
08KV1105 94.25 173.80 79.55 39 8.02 39.0 1.54 BSN /
Sec 11.5
Including 94.25 121.60 27.35 " 3.73 39.2 1.49
Including 99.00 106.75 7.75 " 9.42 56.8 2.25
Including 109.35 110.80 1.45 " 2.82 281.0 12.21
08KV1105 127.70 154.35 26.65 " 19.59 69.9 2.57
Including 127.70 147.65 19.95 " 25.60 89.0 3.04
Including 130.70 133.20 2.50 " 105.06 324.0 7.89
Including 131.95 133.20 1.25 " 162.25 516.0 13.42
Including 141.55 143.25 1.7 " 60.95 155.0 1.06
Including 145.60 147.65 2.05 " 20.29 138.3 13.00
08KV1105 166.55 175.40 8.85 " 1.53 12.4 1.45
Including 167.45 169.10 1.65 " 2.52 16.0 3.02
--------------------------------------------------------------------------
08KV1104 52.90 54.90 2.00 66 2.74 16.5 0.61 A107:BSN
/Secs 2.5
Including 53.90 54.90 1.00 " 4.74 26.0 0.74 & 1075
08KV1104 62.35 71.35 9.00 " 0.70 10.4 0.61
08KV1104 81.00 81.80 0.80 " 5.67 75.0 4.08
--------------------------------------------------------------------------
08KV1101 No intercepts of 2g Au/t or greater A107
/11.5
--------------------------------------------------------------------------
08KV1099 114.20 141.80 27.60 56 2.80 14.5 0.89 BSN
/ Sec 860
Including 115.95 121.35 5.40 " 3.90 29.7 2.35
Including 136.95 140.25 3.30 " 5.77 11.0 0.29
08KV1099 144.80 146.25 1.45 " 2.00 6.0 0.51
08KV1099 148.65 167.10 18.45 " 3.38 8.6 0.45
Including 155.50 156.50 1.00 " 11.10 5.0 0.36
Including 159.50 160.70 1.20 " 2.65 62.0 4.66
008KV109 180.80 182.50 1.70 " 1.57 3.0 0.26
08KV1099 188.50 189.35 0.85 " 0.70 10.0 1.00
08KV1099 191.60 216.40 24.80 " 1.63 7.6 0.39
Including 198.55 201.80 3.25 " 2.80 16.0 0.73
Including 206.50 208.00 1.50 " 5.16 12.0 0.66
--------------------------------------------------------------------------
08KV1096 153.90 158.75 4.85 90 5.12 less 0.08 A107
than / Sec 6
2.0
Including 157.10 158.75 1.65 " 8.70 less 0.40
Than
2.0
08KV1096 163.40 168.60 5.20 " 3.12 less 0.01
than
2.0
Including 163.40 163.90 0.50 " 10.29 less 0.02
Than
2.0
08KV1096 169.20 171.70 2.50 " 3.08 less 0.01
than
2.0
--------------------------------------------------------------------------
(1) See Schedules A and B for Location.
(2) Percentage estimate of True Thicknesses.
DDH08KV1105, lying on Section 11.5, is one of the most significant holes drilled
to date at El Valle, not only because of the large thickness of high grade gold
and copper mineralization, but also because of implications for increasing the
extent of this "high grade skarn". Numerous in-fill holes being completed in the
area east of Section 11 show similar thicknesses and mineralization (assays
pending) to those found in DDH08KV1105. Taken together they indicate a
horizontal mineralized body in the order of 20m thick and 100m wide in the
vicinity of Section 11 and 12 that is open to the east and south; this raises
the possibility that the East Area of Black Skarn North could extend to the
Monica Zone and beyond. The "high grade skarn" is a result of skarn
mineralization being overprinted by multiple epithermal structures.
Dr. V. N. Rampton, President of Kinbauri, commented: "With the most recent
results of the in-fill drilling, we are seeing potential for a significant
increase in gold and copper resources above those previously estimated. If the
high grade phase of Black Skarn North continues to the east and south, this will
add even more ounces to those previously anticipated".
Carles: Carles North:
Exploration drilling at the Carles mine to delineate the extent of the Carles
North zone (see Schedule C:
http://media3.marketwire.com/docs/ScheduleC_0520.pdf) has been completed.
Results for holes 07KC1001 through KC1005 were previously reported in press
releases of December 13th, 2007 and January 29th, 2008. Results from the final
four holes are reported below:
HOLE From To Interval % (2) Au Ag Cu Zone
(DDH) (1) (m) (m) (m) (g/t) (g/t) (%) /Section
08KC1009 No intercepts of 2g Au/t or greater over 0.5m
--------------------------------------------------------------------------
08KC1008 106.30 122.90 16.60 31 3.10 11.3 0.42 Carles-
-North /
1050N
Including 106.30 107.70 1.40 " 3.51 less 0.01
Than
2.0
Including 109.80 112.00 2.20 " 8.01 34.1 1.70
Including
(1) 109.80 111.10 1.30 " 11.99 55.0 2.80
Including 114.65 117.60 2.95 " 4.50 9.8 0.37
Including
(1) 114.65 116.00 1.35 " 7.26 12.0 0.53
Including 120.00 122.90 2.90 " 4.26 22.9 0.69
Including
(1) 120.00 120.95 0.95 " 7.70 40.0 1.13
--------------------------------------------------------------------------
08KC1007 99.75 102.75 3.00 46 7.15 less 0.03 Carles-
than North /
(2.0) 1000N
Including 101.20 102.75 1.55 " 10.45 less 0.04
Than
2.0
08KC1007 107.75 112.20 4.45 " 3.46 6.2 0.53
Including 109.05 110.40 1.35 " 6.74 16.0 1.15
08KC1007 114.90 125.15 10.25 " 22.7 4.5 0.62
Including
(1) 116.15 116.85 0.70 " 5.63 15.0 1.06
Including
(2) 119.25 121.55 2.30 " 3.80 4.5 0.57
--------------------------------------------------------------------------
07KC1006 84.55 85.60 1.05 38 2.20 41.0 0.02 Carles
North /
900N
07KC1006 98.00 99.25 1.25 " 3.40 231.0 1.47
--------------------------------------------------------------------------
(1) See Schedule C for Location.
(2) Percentage estimate of True Thicknesses.
DDHs 07KC1003, 07KC1004, 07KC1005, 07KC1007 and07KC1008 (see Schedule) all show
the continuity of the Carles North skarn Cu-Au mineralization at depth.
Kinbauri is presently determining the costs of a short decline of 250m in order
to access Carles North at a further 300m down-dip in order to assess the full
potential of the Carles North zone.
The underground drill program at El Valle and Carles is being supervised by Mr.
Santiago Gonzalez-Nistal, 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's web-casts concerning assay results obtained from El Valle
and Carles and Kinbauri's mine development plans are available on Kinbauri's
official Investor Relations Site at http://www.agoracom.com/IR/kinbauri.
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 47,325,189 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.
Please find attached the sechedule A
(http://media3.marketwire.com/docs/ScheduleA_0520.pdf) and the schedule B
http://media3.marketwire.com/docs/ScheduleB_0520.pdf)
Kinbauri Gold Corp Com Npv (TSXV:KNB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kinbauri Gold Corp Com Npv (TSXV:KNB)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Kinbauri Gold Corp Com Npv (TSX Venture Exchange): 0 recent articles
More Kinbauri Gold Corp. News Articles