KINBAURI DRILLS 26.7m Grading 19.6g Au/t, 69.9g Ag/t and 2.57% Cu, Including 1.3m Grading 162.3g Au/t, 516.0g Ag/t and 13.42% Cu
21 May 2008 - 1:12AM
Marketwired
OTTAWA, ONTARIO (TSX VENTURE: KNB)(Frankfurt:3KG.DE) is pleased
to announce more results from its on-going 23,000m underground
in-fill drilling program at El Valle and its 500m underground
exploration drilling program at Carles in northwestern Spain.
Highlights of assay results from Black Skarn North ("BSN") and
Area 107 ("107") include:
- 26.7m grading 19.59g Au/t, 69.9g Ag/t and 2.57% Cu in
DDH08KV1105, including 2.5m grading 105.06g Au/t, 324.0g Ag/t and
7.89% Cu.
- 27.4m grading 3.73g Au/t, 39.2g Ag/t and 1.49% Cu also in
DDH08KV1105, including 7.8m grading 9.42g Au/t, 56.8g Ag/t and
2.25% Cu.
- 27.6m grading 2.80g Au/t, 14.5g Ag/t and 0.89% Cu in
DDH08KV1099, including 3.3m grading 5.77g Au/t, 11.0g Ag/t and
0.29% Cu.
And from Carles North include:
- 16.6m grading 3.10g Au/t, 11.3g Ag/t and 0.42% Cu in
DDH08KC1008, including 1.3m grading 11.99g Au/t, 55.0g Ag/t and
2.8% Cu.
- 3.0m grading 7.15g Au/t and 0.03% Cu and 10.3m grading 2.76g
Au/t, 4.5g Ag/t and 0.62% Cu in DDH08KC1007, including 0.7m grading
5.63g Au/t, 15.0g Ag/t and 1.06% Cu.
El Valle: Black Skarn North/Area 107:
The most recent results show higher grades and greater
continuity within BSN than previously expected. Assays from the
latest five diamond drill holes are summarized as follows:
HOLE From To Interval % (2) Au Ag Cu Zone
(DDH) (1) (m) (m) (m) (g/t) (g/t) (%) /Section
08KV1105 94.25 173.80 79.55 39 8.02 39.0 1.54 BSN /
Sec 11.5
Including 94.25 121.60 27.35 " 3.73 39.2 1.49
Including 99.00 106.75 7.75 " 9.42 56.8 2.25
Including 109.35 110.80 1.45 " 2.82 281.0 12.21
08KV1105 127.70 154.35 26.65 " 19.59 69.9 2.57
Including 127.70 147.65 19.95 " 25.60 89.0 3.04
Including 130.70 133.20 2.50 " 105.06 324.0 7.89
Including 131.95 133.20 1.25 " 162.25 516.0 13.42
Including 141.55 143.25 1.7 " 60.95 155.0 1.06
Including 145.60 147.65 2.05 " 20.29 138.3 13.00
08KV1105 166.55 175.40 8.85 " 1.53 12.4 1.45
Including 167.45 169.10 1.65 " 2.52 16.0 3.02
--------------------------------------------------------------------------
08KV1104 52.90 54.90 2.00 66 2.74 16.5 0.61 A107:BSN
/Secs 2.5
Including 53.90 54.90 1.00 " 4.74 26.0 0.74 & 1075
08KV1104 62.35 71.35 9.00 " 0.70 10.4 0.61
08KV1104 81.00 81.80 0.80 " 5.67 75.0 4.08
--------------------------------------------------------------------------
08KV1101 No intercepts of 2g Au/t or greater A107
/11.5
--------------------------------------------------------------------------
08KV1099 114.20 141.80 27.60 56 2.80 14.5 0.89 BSN
/ Sec 860
Including 115.95 121.35 5.40 " 3.90 29.7 2.35
Including 136.95 140.25 3.30 " 5.77 11.0 0.29
08KV1099 144.80 146.25 1.45 " 2.00 6.0 0.51
08KV1099 148.65 167.10 18.45 " 3.38 8.6 0.45
Including 155.50 156.50 1.00 " 11.10 5.0 0.36
Including 159.50 160.70 1.20 " 2.65 62.0 4.66
008KV109 180.80 182.50 1.70 " 1.57 3.0 0.26
08KV1099 188.50 189.35 0.85 " 0.70 10.0 1.00
08KV1099 191.60 216.40 24.80 " 1.63 7.6 0.39
Including 198.55 201.80 3.25 " 2.80 16.0 0.73
Including 206.50 208.00 1.50 " 5.16 12.0 0.66
--------------------------------------------------------------------------
08KV1096 153.90 158.75 4.85 90 5.12 less 0.08 A107
than / Sec 6
2.0
Including 157.10 158.75 1.65 " 8.70 less 0.40
Than
2.0
08KV1096 163.40 168.60 5.20 " 3.12 less 0.01
than
2.0
Including 163.40 163.90 0.50 " 10.29 less 0.02
Than
2.0
08KV1096 169.20 171.70 2.50 " 3.08 less 0.01
than
2.0
--------------------------------------------------------------------------
(1) See Schedules A and B for Location.
(2) Percentage estimate of True Thicknesses.
DDH08KV1105, lying on Section 11.5, is one of the most
significant holes drilled to date at El Valle, not only because of
the large thickness of high grade gold and copper mineralization,
but also because of implications for increasing the extent of this
"high grade skarn". Numerous in-fill holes being completed in the
area east of Section 11 show similar thicknesses and mineralization
(assays pending) to those found in DDH08KV1105. Taken together they
indicate a horizontal mineralized body in the order of 20m thick
and 100m wide in the vicinity of Section 11 and 12 that is open to
the east and south; this raises the possibility that the East Area
of Black Skarn North could extend to the Monica Zone and beyond.
The "high grade skarn" is a result of skarn mineralization being
overprinted by multiple epithermal structures.
Dr. V. N. Rampton, President of Kinbauri, commented: "With the
most recent results of the in-fill drilling, we are seeing
potential for a significant increase in gold and copper resources
above those previously estimated. If the high grade phase of Black
Skarn North continues to the east and south, this will add even
more ounces to those previously anticipated".
Carles: Carles North:
Exploration drilling at the Carles mine to delineate the extent
of the Carles North zone (see Schedule C:
http://media3.marketwire.com/docs/ScheduleC_0520.pdf) has been
completed. Results for holes 07KC1001 through KC1005 were
previously reported in press releases of December 13th, 2007 and
January 29th, 2008. Results from the final four holes are reported
below:
HOLE From To Interval % (2) Au Ag Cu Zone
(DDH) (1) (m) (m) (m) (g/t) (g/t) (%) /Section
08KC1009 No intercepts of 2g Au/t or greater over 0.5m
--------------------------------------------------------------------------
08KC1008 106.30 122.90 16.60 31 3.10 11.3 0.42 Carles-
-North /
1050N
Including 106.30 107.70 1.40 " 3.51 less 0.01
Than
2.0
Including 109.80 112.00 2.20 " 8.01 34.1 1.70
Including
(1) 109.80 111.10 1.30 " 11.99 55.0 2.80
Including 114.65 117.60 2.95 " 4.50 9.8 0.37
Including
(1) 114.65 116.00 1.35 " 7.26 12.0 0.53
Including 120.00 122.90 2.90 " 4.26 22.9 0.69
Including
(1) 120.00 120.95 0.95 " 7.70 40.0 1.13
--------------------------------------------------------------------------
08KC1007 99.75 102.75 3.00 46 7.15 less 0.03 Carles-
than North /
(2.0) 1000N
Including 101.20 102.75 1.55 " 10.45 less 0.04
Than
2.0
08KC1007 107.75 112.20 4.45 " 3.46 6.2 0.53
Including 109.05 110.40 1.35 " 6.74 16.0 1.15
08KC1007 114.90 125.15 10.25 " 22.7 4.5 0.62
Including
(1) 116.15 116.85 0.70 " 5.63 15.0 1.06
Including
(2) 119.25 121.55 2.30 " 3.80 4.5 0.57
--------------------------------------------------------------------------
07KC1006 84.55 85.60 1.05 38 2.20 41.0 0.02 Carles
North /
900N
07KC1006 98.00 99.25 1.25 " 3.40 231.0 1.47
--------------------------------------------------------------------------
(1) See Schedule C for Location.
(2) Percentage estimate of True Thicknesses.
DDHs 07KC1003, 07KC1004, 07KC1005, 07KC1007 and07KC1008 (see
Schedule) all show the continuity of the Carles North skarn Cu-Au
mineralization at depth. Kinbauri is presently determining the
costs of a short decline of 250m in order to access Carles North at
a further 300m down-dip in order to assess the full potential of
the Carles North zone.
The underground drill program at El Valle and Carles 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's web-casts
concerning assay results obtained from El Valle and Carles and
Kinbauri's mine development plans are available on Kinbauri's
official Investor Relations Site at
http://www.agoracom.com/IR/kinbauri.
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
47,325,189 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.
Please find attached the sechedule A
(http://media3.marketwire.com/docs/ScheduleA_0520.pdf) and the
schedule B
http://media3.marketwire.com/docs/ScheduleB_0520.pdf)
Contacts: North America Darrell Munro, BB.A, LL.B Manager
Corporate Communications 613-836-0198 dmunro@kinbauri-gold.com Dr.
Vern Rampton, P. Eng. President 613-836-2594
vrampton@kinbauri-gold.com kinbauri@kinbauri-gold.com 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 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.
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