Kinbauri Gold Confirms Extensive Gold Zones at Aztec, Nevada
05 April 2008 - 2:45AM
Marketwired
OTTAWA, ONTARIO (TSX VENTURE: KNB)(FRANKFURT: 3KG.DE) is pleased
to announce that it has received the final report from its rock
trenching program completed on its Aztec property ("Aztec") in the
Goldfield area of Esmeralda County, Nevada; approximately 184
linear meters were excavated (about 442 cu m) following drilling
and blasting. The excavations targeted the more prospective areas
within a large (1,200m by 200m) gold in soil anomaly (see Schedule
for location). Assays from numerous grab samples and drill cuttings
support the prospectivity of this broad area.
Two trenches were excavated at the south end of the gold in soil
anomaly and produced the following assays:
TRENCH 1: 0.6g Au/t over 35m with a range of values from 0.3 to
1.1g Au/t.
TRENCH 2: 0.3g Au/t over 33m with a range of values up to 0.7g
Au/t over 1.5m.
Both trenches were excavated in silicified and micro-fractured
lapilli tuffs: associated anomalies in Ag, As, Sb and Hg, a suite
of elements common to epithermal gold deposits in Nevada, are also
present. Noteworthy is a short hole drilled by Kennecott in 1989,
approximately 60m ESE of Trench 1 that intersected 3.2g Au/t over
4m, including 8.7g Au/t over 1.5m (historic).
Four trenches were excavated over a distance of 200 m at the
north end of the geochemical Au in soil anomaly and produced the
following assays:
TRENCH 4: 0.6 g Au/t over 12 m.
TRENCH 5: 0.5 g Au/t over 21 m; including 1.1 g Au/t over 5.5
m.
TRENCH 6: 0.4 g Au/t over 27 m, including 1.3 g Au/t over 3.3
m.
TRENCH 7: 1.2 g Au/t over 11 m, including 2.6 g Au/t over 3.3
m.
Gold in these trenches is hosted in brecciated gossanous
limestone with jasperoid layers and it is associated with a clearly
identifiable N-S fault (see Schedule). These trenches have
associated anomalous values in Ag, As, Sb, Hg and Mo.
These results confirm the presence of epithermal gold systems on
the Aztec property, hosted in silicified tuff of Tertiary age and
in Paleozoic gossanous, brecciated, jasperoid bearing limestone.
Drilling and mapping by Kenncott and U.S. previously Borax defined
a pervasively altered north-south trending gold bearing dome-like
structure in the silicified tuffs: however its total extent is
difficult to determine because of alluvial cover.
The north-south trending fault found in Trenches 4 and 5 and the
regional north-south trend of the geochemical soil anomalies
coincide with a regional north-south trending fault, which has been
interpreted by USGS geologists to pass through the western portion
of the property. Such structures in conjunction with Kinbauri's
geological and geochemical results can indicate the presence of
underlying replacement deposits in carbonates or high grade feeder
zones hosting gold.
The Aztec property consists of 56 claims totalling 450 hectares.
It is located four kilometres to the southwest of the Goldfield
district in Esmeralda County, Nevada. This mining district, in
concert with the Northumberland, Manhattan, Round Mountain Trend,
Goldfield and Tonopah mining districts, all lie along the Round
Mountain-Goldfield Trend ("RMGT"). Over 17 million ounces of gold
have been produced from these mining districts since discovery,
with 4.2 million ounces from Goldfield alone. Further reserves and
resources of over 5 million ounces along the RMGT have been
reported.
The field work, permitting, administration and direct
supervision of the Aztec project was carried out by Peter J.
Clarke, Ph.D. under the direction of Christopher F. Gleeson, Ph.D.,
P.Eng. who is a qualified person. All Au assay were completed on 50
gm of pulverized sample by ALS Chemex in Reno, Nevada using a fire
assay procedure with an AA finish. The multielement analyses (35
elements) were carried out by ICP after an Aqua Regia
digestion.
Kinbauri is a TSXV - Tier 1 Mineral Exploration Company focused
on expanding and upgrading resources to reserves at its El Valle
property in Asturias, Spain in order to start operations at the
mine and mill complex there in 2010. Upon restart, El Valle will
become the largest gold producer in Western Europe. Kinbauri plans
to advance its North American properties via joint ventures and is
presently in discussion regarding a joint venture to further
advance Aztec. Kinbauri currently has 45,499,876 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.
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.
Schedule:
http://media3.marketwire.com/docs/KNB_Schedule_0404.pdf
Contacts: North America: Kinbauri Gold Corp. Darrell Munro,
BB.A, LL.B, Manager Corporate Communications 613-836-2594
613-831-2730 (FAX) dmunro@kinbauri-gold.com www.kinbauri-gold.com
Kinbauri Gold Corp. Dr. Vern Rampton, P. Eng. President
613-836-2594 613-831-2730 (FAX) vrampton@kinbauri-gold.com
kinbauri@kinbauri-gold.com Kinbauri Gold Corp. Dr. Chris Gleeson,
P. Eng. Vice-President Exploration 613-652-4594 613-652-1223 (FAX)
c.gleeson@persona.ca Europe: INVESTEL Ruediger (Rudy) Hnyk, CEO
Investor Relations & Telecommunications ceo@investel.de
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