Kinbauri Intersects 57g Au/t and 11.5% Cu Over 1.4 Metres More Positive Results From El Valle/Carles, Spain
14 December 2007 - 12:07AM
Marketwired
OTTAWA, ONTARIO ("Kinbauri") is pleased to announce the initial
results from underground diamond drilling infill program at Area
107-El Valle and its ongoing exploratory diamond drill program at
Area 208-El Valle and at Carles. Highlights include:
- In-Fill: 57.0 g Au/t and 11.5% Cu over 1.4 metre,
: 24.1 g Au/t over 2 metres
- Carles: 10.5 g Au/t and 1.1% Cu over 2.4 metres
Assay results have been received from six holes totalling 1,360m
of in-fill drilling for Area 107, from two holes totalling 457m at
Area 208 (El Valle) and from one hole totalling 144m at Carles.
Results are summarized below:
In-fill: El Valle Area 107
HOLE(1) From (m) To (m) Interval(2)(m) Au (g/t) Ag (g/t) Cu(%)
----------------------------------------------------------------------
07KV1031 215.4 219.00 3.60 6.24 2.00 .09
including 217.00 219.00 2.00 9.86 2.00 .02
07KV1031 229.00 250.75 21.75 3.58 2.00 .10
including 231.00 233.00 2.00 24.14 2.00 .05
07KV1031 286.60 288.30 1.70 17.30 2.00 .11
07KV1031 306.60 315.45 8.85 2.63 2.00 .10
including 313.8 315.45 1.65 9.16 2.00 .07
----------------------------------------------------------------------
07KV1030 155.00 156.50 1.50 2.05 less .07
than
----------------------------------------------------------------------
07KV1029 155.5 156.5 1.00 3.30 less .08
than
----------------------------------------------------------------------
07KV1028 101.30 105.30 4.00 2.69 2.00 .12
07KV1028 172.00 173.40 1.40 57.00 185.00 11.47
----------------------------------------------------------------------
07KV1027 No intercepts greater than 2g/t Au
----------------------------------------------------------------------
07KV1026 82.5 83.5 1.00 17.49 110.00 2.16
07KV1026 343.7 345.20 1.50 2.39 less .31
than
----------------------------------------------------------------------
(1) See Schedule A for relative location; (2) True thicknesses are
estimated to be 65% of the interval for 07KV1029, 73% and 75% of
intervals for 07KV1030 and 07KV1028 respectively and 98% to 99% of
intervals for 07KV1026 and 07KV1031.
The first three in-fill holes drilled in Area 107, 07KV1026,
07KV1031 and 07KV1022, all returned high gold values. Hole
07KV1022, which was previously reported in release of October 16th,
2007, showed 10.85g Au/t over 3.6m. Hole 07KV1028 is located in the
central part of the west edge of Area 107 West, whereas 07KV1027
and 07KV1030 lie on the up-section extension of Area 107 West. An
estimated 13,600m of in-fill drilling on Area 107 and Area 107 West
is to be completed prior to August of 2008 to allow for the
development of engineering plans to accelerate production from this
zone.
Exploratory: Carles and El Valle Area 208
From To Interval(1) Au Ag
HOLE (m) (m) (m) (g/t) (g/t) Cu Zone
-----------------------------------------------------------------------
07KC1001 132. 135.95 3.50 7.87 14.43 .84 Carles
-----------------------------------------------------------------------
including 132.45 134.85 2.40 10.52 16.00 1.07
-----------------------------------------------------------------------
07KVAL234 88.20 90.20 2.00 2.74 less .04 A208
than
-----------------------------------------------------------------------
07KVAL235 109.70 111.45 1.75 2.42 4.00 .04 A208
07KVAL235 144.80 146.35 1.55 2.41 2.00 .01
-----------------------------------------------------------------------
(1) True thicknesses are estimated to be 65% of interval for 07KC1001, 80%
for 07KVAL234 and 25% for 07KC235.
07KC1001 lies 100m down-dip from closest previously reported
drill hole on Carles North, C120, which intercepted 3.75m of 4.6g
Au/t and 0.14% Cu. A total of 1,150m of exploratory drilling is to
be completed in early 2008 at Carles North and Carles East.
07KVAL235 and 07KVAL236 are the first of two exploratory holes
along the eastward extension of Area 208; a total of 1,750m (6
holes) is planned. Both holes intersected thick sections of
jasperoid breccia and silicified dolomites, which generally host
gold. Area 208 is open at depth and to the west where exploratory
drilling will now be concentrated.
The drill programs are 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 Quality Assurance
Program are reported in press release of July 19(th), 2007. 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
developments will be discussed in detail. The recording is expected
to be available on or after December 14th, 2007.
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 with a view to re-starting
operations at the mine and mill complex there. It currently has
43,372,320 common shares issued and outstanding; 67,056,236, fully
diluted.
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.
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.
Schedule A is available at the following address:
http://www.ccnmatthews.com/docs/ScheduleA_1213.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: Kinbauri Gold Corp. Darrell Munro, BB.A, LL.B Manager
Corporate Communications 613-836 2594 613-831 2730 (FAX)
dmunro@kinbauri-gold.com kinbauri@kinbauri-gold.com Kinbauri Gold
Corp. Dr. Vern Rampton, P. Eng. President 613-836 2594 613-831 2730
(FAX) vrampton@kinbauri-gold.com www.kinbauri-gold.com
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