Kinbauri Drills 4.5m Grading 23.4g Au/t, 3g Ag/t and 0.7% Cu, and 7.5m Grading 9.0g Au/t, 57g Ag/t and 2.4% Cu
26 April 2008 - 12:22AM
Marketwired
OTTAWA, ONTARIO (TSX VENTURE: KNB)(FRANKFURT: 3KG.DE) is pleased
to announce more results from its on-going 23,000m underground
drilling program at El Valle in northwestern Spain. Highlights of
the assay results from the 107 Area/Black Skarn North zones
include:
- 9.4m grading 7.4g Au/t, 3g Ag/t and 0.4% Cu in DDH08KV1082
including 1.7m grading 20.3g Au/t, 3g Ag/t and 0.1% Cu
- 7.5m grading 9.0g Au/t, 57g Ag/t and 2.4% Cu in DDH08KV1088
including 0.8m grading 26.0g Au/t, 186g Ag/t and 14.0% Cu
- 4.7m grading 12.0g Au/t, 14g Ag/t and 0.7% Cu in DDH08KV1089
including 1.55m grading 32.3g Au/t, 39g Ag/t and 1.8% Cu
- 4.45m grading 23.4g Au/t, 3g Ag/t and 0.7% Cu in DDH08KV1092
including 1.55m grading 32.9g Au/t, 3g Ag/t and 1.2% Cu.
The underground infill program continues to generate excellent
results. Assays received from the latest 11 diamond drill holes are
summarized as follows:
--------------------------------------------------------------------------
HOLE From (m) To Interval Au Ag Zone/
(DDH)(1) (m) (m) %(2) (g/t) (g/t) Cu(%) Section(3)
--------------------------------------------------------------------------
08KV1092 134.05 149.70 15.65 99 10.32 2.4 0.45 A107/6
08KV1092 138.70 143.15 4.45 " 23.41 3.0 0.71
Including 141.60 143.15 1.55 " 32.90 3.0 1.21
08KV1092 145.20 149.70 4.50 " 11.21 2.3 0.13
--------------------------------------------------------------------------
08KV1091 211.90 213.50 1.60 77 0.05 less 1.26 A107/11.5
than
1.99
--------------------------------------------------------------------------
08KV1090 37.35 39.90 2.55 " 6.83 39.8 1.01 A107/BSN/
1100
Including 38.60 39.90 1.30 " 10.80 62.4 1.56
08KV1090 43.55 51.60 8.05 " 3.34 14.6 0.43
Including 45.25 48.55 3.30 " 6.49 27.1 0.81
08KV1090 58.25 62.60 4.35 " 3.48 8.3 0.22
--------------------------------------------------------------------------
08KV1089 56.30 61.00 4.70 88 12.04 14.2 0.65 A107/BSN/
1100
Including 59.45 61.00 1.55 " 32.30 38.6 1.76
08KV1089 81.35 83.70 2.35 " 10.68 17.6 0.87
Including 81.35 82.50 1.15 " 16.75 14.1 0.77
--------------------------------------------------------------------------
08KV1088 13.45 15.00 1.55 78 1.70 23.9 1.15 A107/BSN/
1100
08KV1088 41.45 69.20 27.75 " 4.08 20.8 0.79
Including 61.70 69.20 7.50 " 9.01 57.1 2.4
Including 65.60 66.40 0.80 " 26.00 186.0 14.00
--------------------------------------------------------------------------
08KV1087 No intercepts greater than 2 g/t Au eq A107/11.5
--------------------------------------------------------------------------
08KV1086 138.00 140.00 2.00 56 4.31 28.6 1.71 A107/5
--------------------------------------------------------------------------
08KV1085 No intercepts greater than 2 g/t Au eq BSN/1100
--------------------------------------------------------------------------
08KV1084 48.05 57.00 8.95 76 3.61 20.3 0.87 A107/BSN/11
Including 48.05 49.50 1.45 " 5.58 29.6 1.51
08KV1084 72.90 74.00 1.10 " 1.50 19.0 1.92
--------------------------------------------------------------------------
08KV1082 136.70 146.10 9.40 78 7.41 3.3 0.41 A107/5
Including 142.70 144.40 1.70 " 20.33 3.0 0.07
08KV1082 161.40 166.10 4.70 " 7.33 0.9 0.24
Including 161.40 162.95 1.55 " 11.40 1.1 0.44
08KV1082 170.65 171.80 1.15 " 8.24 0.2 0.03
08KV1082 172.60 176.00 3.40 " 2.10 0.2 0.04
--------------------------------------------------------------------------
08KV1079 120.50 122.90 2.40 60 4.58 16.2 0.94 BSN/775
08KV1079 128.55 151.00 22.45 " 2.01 15.8 0.69
Including 131.80 133.50 1.70 " 3.00 40.0 2.25
Including 138.00 139.50 1.50 " 6.09 21.0 0.69
Including 142.55 145.65 3.10 " 2.62 20.5 1.32
--------------------------------------------------------------------------
(1) See Schedules A and B for Location. (2) Percentage estimate of True
Thicknesses. (3) 107 is Area 107, 107W is Area 107 West and BSN is
Black Skarn North
DDH08KV1079 (Schedule B, sec 775) extends the West Area of BSN
along strike another 50m to the south of DDH08KV1059, which also
intersected 14.3m (true width) of skarn grading 2.3g Au/t, 15g Ag/t
and 0.79% Cu (press release of March 7th, 2008). Taken together,
the results from 1059 and 1079 confirm the probability of extending
BSN along the west flank of the intrusive, which BSN flanks, and
adding substantially to the BSN resources at El Valle.
DDH08KV1084 (Schedule A, sec 11) indicates that skarn
mineralization is still open at depth in the South Area of BSN.
DDHs 08KV1087 and 08KV1091 (Schedule A, sec 11.5) suggest the
up-dip termination of Area 107 near Area's 107's easternmost
extent.
DDHs 08KV1082, 08KV1086 and 08KV1092, all in-fill holes in the
South Area of BSN (Schedule A, sec 5 and 6), confirm high grade
gold values to be found in 107, commonly supplemented by meaningful
copper values. DDHs 08KV1085, 08KV1088 and 08KV1090, in-fill holes
located in the central area of Black Skarn North (Schedule B, sec
1100), confirm the continuity of ore grade Au-Ag-Cu mineralization
there.
Analysis of drill results to date show a continuation of
enhanced Au-Cu values where Area 107 intersects the Black Skarn
North. This could lead to a potentially significant increase in
resources for Area 107.
The underground drill program at El Valle 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 will record a "Beyond The Press Release" on the Company's
official Investor Relations Site at
http://www.agoracom.com/IR/kinbauri. The recording is expected to
be available on or after April 25th, 2008.
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
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 A is available at the following address:
http://media3.marketwire.com/docs/ScheduleA_0425.pdf
Schedule B is available at the following address:
http://media3.marketwire.com/docs/ScheduleB_0425.pdf
Contacts: North America: Kinbauri Gold Corp. Darrell Munro,
BB.A, LL.B Manager Corporate Communications 613-836-0198
dmunro@kinbauri-gold.com Kinbauri Gold Corp. Dr. Vern Rampton, P.
Eng. President 613-836-2594 vrampton@kinbauri-gold.com
kinbauri@kinbauri-gold.com Kinbauri Gold Corp. Dr. Chris Gleeson,
P. Eng. Vice-President Exploration 613-652-4594
cgleeson@kinbauri-gold.com www.kinbauri-gold.com Europe: INVESTEL
Ruediger (Rudy) Hnyk, CEO Investor Relations &
Telecommunications ceo@investel.de
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