Chapleau Intersects 25.23 g/t Gold, 32.54 g/t Silver and 2.90 % Lead in Hole 79 on the Coringa Gold Project, Brazil
22 January 2009 - 3:54AM
Marketwired Canada
Chapleau Resources Ltd. (TSX VENTURE:CHI) continues to intersect high grade
gold, silver and lead on the Meio structure at the Coringa gold project in
Brazil. A total of 15 holes (1,978.65 m) have now been completed in the 3rd
Phase drill program of which 14 holes have been drilled on the Meio structure
(DDH67 to 73 and DDH75 to 81) with a drilled strike length of approximately 450
metres (see location map on website:
www.chapleauresources.com/projectmaps.php?ID=11).
Results for all of the remaining 14 holes on Meio have been received confirming
significant gold zones previously reported from the initial 5 holes drilled in
2007 and early 2008 (DDH11, 12, 62, 63 and 65 - see table attached for summary
of drill results for the Meio Zone). Five of the outstanding 9 holes returned
gold results between 6.00 g/t and 68.73 g/t over intervals ranging between 0.5
to 5.0 m. Hole 79, drilled 68.0 m southeast of Hole 67 with 1.5 m of 23.45 g/t
Au, 39.33 g/t Ag, 0.30 % Zn and 3.53% Pb, intersected 2.5 m of 25.23 g/t gold,
32.54 g/t silver, 2.90% lead, 0.77% zinc and 0.25% copper from 57.6 to 60.1 m.
Along the northwest-trending mineralized Meio structure, which has an average
dip of 89 degrees to the northeast and a true thickness of approximately 1.36 m,
there are zones of higher-grade mineralization, which plunge at approximately 63
degrees to the southeast. Holes, 11, 62, 65, 68 and 67 define one such zone,
which has an average weighted grade of 18.48 g/t Au over a true thickness of
2.08 m. Another high grade gold zone is defined by holes 78, 79 and 81 with an
average weighted grade of 19.92 g/t gold over a true thickness of 1.1 m.
The structural information gained from the recent program will now be used to
further improve targeting of drill holes along extensions of the Meio zone.
Previous holes DDH 13 and 14 drilled approximately 300 m and 382 m northwest and
southeast respectively of DDH 73 and DDH 77 confirm gold mineralization
extending over at least 1.1 km. In addition, shallow 10-12 m deep historic
shafts and artisanal workings beyond the current drilling is further evidence
supporting the extension of the mineralized structure toward the southeast and
the northwest (see map on website:
www.chapleauresources.com/projectmaps.php?ID=11).
Preliminary interpretations and in-house long sections for the currently known
450 m of mineralization associated with the Meio structure show gold grades,
gold equivalent grades(1) and thicknesses which are open at depth and along
strike of the areas drilled (see long section interpretations on website:
www.chapleauresources.com/projectmaps.php?ID=11). These preliminary
interpretations, showing the nature of the gold, silver and base metal
mineralization, will now be used to explore:
1. plunging mineralized structures at depths of greater than 150 m,
2. mineralized extensions below covered areas to the southeast and northwest of
Meio,
3. areas where limited drilling, around DDH 13 and 14 have intersected
gold-bearing structures.
With new structural information gained from the initial 1978.65 m (15 holes) of
the 7,000.00 m program it has been decided to stop the current drilling in order
for the completion of target definition based on the reinterpretation of new
structural information.
(1) For the long section interpretations on the Meio Block posted on the
Chapleau website, gold grades were composited over an average of 1.36 m ranging
from 0.32 m to 2.89 m true widths for the individual drill holes. Gold
equivalent grades were based on the assumption that 79 to 94 % of Ag, Pb Zn and
Cu, similar to gold recoveries, can be obtained through flotation methods (see
press release of May 07, 2008). Gold equivalent calculations were based on the
following metal prices: Gold-US$750/oz, Silver-US$10/oz, Copper-US$1.32/lb,
Lead-US$0.46/lb and Zinc-US$0.50/lb.
The summary of gold, silver, lead, zinc and copper results for the drill holes
on the Meio, structure are highlighted in the table below.
Summary of Drill Hole Results: Meio Structure
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Structure Mineralization
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Hole BR_COR_# From To Intercept Au Ag Cu Pb Zn
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Metre (g/t) (g/t) % % %
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Meio
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DDH 11(i) 50.00 52.00 2.00 23.67 28.25 0.22 1.67 0.88
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DDH 12(i) 49.00 50.00 1.00 3.43 4.00 - 0.12 -
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DDH 62(i) 56.00 59.00 3.00 65.77 65.17 0.45 6.03 4.35
----------------------------------------------------------------------------
Includes 57.50 58.00 0.50 149.80 135.00 0.61 10.4 11.00
----------------------------------------------------------------------------
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DDH 63 52.00 52.50 0.50 0.71 - - - -
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----------------------------------------------------------------------------
DDH 65(i) 113.50 118.50 5.00 3.57 28.73 0.25 2.23 1.91
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Includes 116.50 117.00 0.50 10.81 31.00 0.72 7.40 1.60
----------------------------------------------------------------------------
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DDH 67(i) 22.00 24.50 2.50 1.54 3.54 - 0.59 0.11
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Includes 22.00 22.50 0.50 3.84 - - 0.59 0.22
----------------------------------------------------------------------------
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DDH 67(i) 107.50 109.00 1.50 23.45 39.33 0.20 3.53 0.30
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Includes 108.50 109.00 0.50 36.65 44.00 0.17 2.58 0.37
----------------------------------------------------------------------------
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DDH 67 115.50 116.50 1.00 1.78 3.50 - 0.51 -
----------------------------------------------------------------------------
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DDH 68(i) 149.00 155.00 6.00 4.28 7.67 - 0.49 -
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Includes 154.00 155.00 1.00 16.83 12.40 - 2.58 -
----------------------------------------------------------------------------
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DDH 69(i) 169.80 170.30 0.50 1.15 - - - -
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DDH 70 123.50 124.00 0.50 1.18 1.13 - 0.24 0.16
----------------------------------------------------------------------------
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DDH 71 58.90 63.90 5.00 6.06 6.18 - 0.76 0.23
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Includes 60.40 61.40 1.00 22.53 23.75 - 2.75 -
----------------------------------------------------------------------------
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DDH 72 121.00 127.00 6.00 1.24 2.20 - 0.13 -
----------------------------------------------------------------------------
Includes 123.80 124.40 0.60 11.40 22.00 0.12 1.20 0.54
----------------------------------------------------------------------------
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DDH 73 No Significant Mineralization Intersected
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DDH 75 48.50 49.00 0.50 0.61 - - - -
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DDH 76 127.20 132.20 5.00 0.99 15.52 - 0.91 0.47
----------------------------------------------------------------------------
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DDH 77 8.20 8.70 0.50 3.12 1.70 - - -
----------------------------------------------------------------------------
Note: Hole drilled into footwall and only partially
intersected structure
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH 78 32.00 33.00 1.00 1.15 3.65 - 0.23 0.22
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127.40 129.10 1.70 23.27 40.99 0.14 1.21 0.38
----------------------------------------------------------------------------
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DDH 79 57.60 60.10 2.50 25.23 32.54 0.25 2.90 0.77
----------------------------------------------------------------------------
Includes 58.60 59.10 0.50 68.73 79.00 0.49 7.00 1.80
----------------------------------------------------------------------------
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DDH 80 61.50 62.00 0.50 1.50 - - 0.21 0.21
----------------------------------------------------------------------------
226.63 228.13 1.50 0.61 3.77 - - -
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DDH 81 61.05 62.60 1.50 7.28 22.33 0.28 3.00 0.75
----------------------------------------------------------------------------
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(i) Previously reported results
- BD - Below detection limit of less than 0.1 g/t Ag
- Gold assays greater than 0.5 g/t Au are reported with the exception of gold
values included within mineralized intervals with widths of greater than 1 m.
- Cu, Pb and Zn values greater than 0.1 % are reported
Drill holes were inclined at between 50 degrees and 60 degrees. Core recovery
for the mineralized intervals averaged greater than 95%. Recent down-hole
structural data has been used to estimate true widths of the mineralized
intervals to be approximately 70 % of the intersected widths in the holes. Gold
mineralization occurs within silicified, quartz veined and sericite altered
shear zones surrounded by hematitic and propylitic envelopes within volcanic
rhyolites. Principal sulphide mineralization includes pyrite, galena, sphalerite
and chalcopyrite between 0.5% and 20.0%.
Drill cores for assaying were taken at a minimum of 0.3 m and a maximum of 2.0 m
intervals. All core samples (HQ diameter) were cut with a diamond saw and
one-half of the core placed in bags, numbered and sealed then sent via a secure
transport agency to the SGS Geosol laboratory in Itaituba in Brazil for
preparation and the pulps sent directly to the SGS Geosol laboratory in Belo
Horizonte and Vespasiano for analysis. The core samples were crushed down to 2
mm, a split of 250 to 300 g was taken and pulverized to better than 95% minus
150 mesh. Gold analysis was by fire assay of a 30 g sample and an atomic
absorption finish. Silver and additional 32 elements using aqua regia acid
digestion were analyzed by Inductively Coupled Plasma (ICP). As part of the
Company's QA/QC program duplicates, blanks and internationally recognized
standards were included in the sample batches to check on assay precision and
accuracy. SGS Geosol, which is an ISO, 9001:2000 and ISO 14001: 2004 registered
laboratory also has a quality control program in place, which includes standards
and duplicates.
Due to the current economic climate, Chapleau has embarked on numerous cost
cutting initiatives. This included a revision of priority drill targets on the
Coringa gold project in-order to advance to a National Instrument 43-101
compliant mineral resource estimate as soon as possible, the reduction of staff
and the review of possible joint venture opportunities with third parties.
This press release was prepared by Ian Gendall, Pr. Sci. Nat., a qualified
person in compliance with National Instrument 43-101.
For technical information regarding this press release, kindly contact Ian
Gendall at 604 669 8511.
BY ORDER OF THE BOARD OF DIRECTORS
Signed:
CHAPLEAU RESOURCES LTD.
Ian Gendall, President
This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements.
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