Canplats Commences Pre-Feasibility Studies At Camino Rojo
24 September 2009 - 10:30PM
Marketwired
Canplats Resources Corporation (TSX VENTURE: CPQ) is pleased to
announce that the in-house technical assessment of the Represa Zone
has now been completed and the Company has engaged Mine and Quarry
Engineering Services, Inc. ("MQes") of San Mateo, California, to
conduct a pre-feasibility study for the project. The Represa
pre-feasibility study will provide a comprehensive technical and
economic examination of key parameters for large-scale heap-leach
mining of oxide and transitional mineralization. One aspect of this
program, further metallurgical testwork, is currently underway.
MQes is a specialized consulting and engineering company
supplying geological, mining and process engineering services to
the mining industry worldwide. The company comprises a group of
leading professionals in the technical disciplines of geology,
geostatistics, mine planning, mineral dressing, metallurgy,
chemical engineering, process design, cost estimation, and project
management, supported by mechanical, electrical, civil, structural
and instrumentation design engineers.
The wholly-owned Camino Rojo project hosts measured and
indicated resources estimated at 3.44 million ounces of gold and
60.7 million ounces of silver at the Represa Zone with additional
inferred resources of 0.56 million ounces of gold and 7.6 million
ounces of silver (see news release dated November 24, 2008 and
table to follow). Mineralization remains open for further expansion
in both strike directions and to depth.
The Represa Zone is situated in flat terrain within an area of
excellent infrastructure, less than 5 kilometers from a paved
highway and high voltage power lines. Canplats is actively pursuing
the acquisition of surface rights in the Represa area.
REPRESA MINERAL RESOURCE SUMMARY(i)
--------------------------------------------------------------------
Size Grade
-------------------------------------- Gold Silver
Tonnes Gold Silver Zinc Lead Ounces Ounces
Category (Millions) (g/t) (g/t) (%) (%) (000's) (000's)
--------------------------------------------------------------------
Measured 9.58 0.76 13.40 0.34 0.29 235 4,126
--------------------------------------------------------------------
Indicated 153.81 0.65 11.44 0.37 0.18 3,210 56,582
--------------------------------------------------------------------
Total M&I 163.39 0.66 11.56 0.37 0.19 3,445 60,708
--------------------------------------------------------------------
Inferred 31.03 0.56 7.63 0.31 0.10 555 7,612
--------------------------------------------------------------------
(i) Based upon a cut-off grade of 0.2 grams gold per tonne for oxide
and transitional resources, with a cut-off grade of 0.3 grams gold
per tonne for sulphide resources.
To receive Canplats' news releases by e-mail, contact Blaine
Monaghan, Director, Investor Relations, at info@canplats.com or
(866) 338-0047.
Statements contained in this news release that are not
historical fact, such as statements regarding the economic
prospects of the company's projects, future plans or future
revenues, timing of development or potential expansion or
improvements, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Such forward looking statements are subject to risks and
uncertainties which could cause actual results to differ materially
from estimated results. Such risks and uncertainties include, but
are not limited to, the company's ability to raise sufficient
capital to fund development, changes in economic conditions or
financial markets, changes in prices for the company's mineral
products or increases in input costs, litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments in Mexico, technological and operational
difficulties or inability to obtain permits encountered in
connection with exploration and development activities, labour
relations matters, and changing foreign exchange rates, all of
which are described more fully in the company's filings with the
Securities and Exchange Commission.
Cautionary note to U.S. investors: The terms "measured mineral
resource", "indicated mineral resource", and "inferred mineral
resource" used in this news release are Canadian geological and
mining terms as defined in accordance with National Instrument
43-101, Standards of Disclosure for Mineral Projects ("NI 43-101")
under the guidelines set out in the Canadian Institute of Mining,
Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources
and Mineral Reserves. We advise U.S. investors that while such
terms are recognized and permitted under Canadian regulations, the
SEC does not recognize them. U.S. investors are cautioned not to
assume that any part or all of the mineral deposits in the measured
and indicated categories will ever be converted into reserves.
"Inferred mineral resources" in particular have a great amount of
uncertainty as to their economic feasibility. It cannot be assumed
that all or any part of an inferred mineral resource will ever be
upgraded to a higher category. Under Canadian rules estimates of
inferred mineral resources may not generally form the basis of
feasibility or other economic studies. U.S. investors are cautioned
not to assume that any part or all of an inferred mineral resource
exists, or is economically or legally mineable. Disclosure of
contained metal expressed in ounces is in compliance with NI
43-101, but does not meet the requirements of Industry Guide 7 of
the SEC, which will only accept the disclosure of tonnage and grade
estimates for non-reserve mineralization.
The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein.
Contacts: Canplats Resources Corporation - Corporate Information
R.E. Gordon Davis Chairman and C.E.O. Direct: (604) 629-8292
Canplats Resources Corporation Bruce A. Youngman President and
C.O.O. Direct: (604)-629-8293 Canplats Resources Corporation -
Investor Inquiries Blaine Monaghan Director, Investor Relations
Direct: (604) 629-8294 or Toll-Free: (866) 338-0047
info@canplats.com www.canplats.com G2 Consultants Corporation NA
Toll-Free: (866) 742-9990 or (604) 742-9990 (604) 742-9991 (FAX)
canplats@g2consultants.com
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