Kinbauri Drilling Suggest Significant Increase in Resources at El Valle
04 June 2008 - 1:01AM
Marketwired Canada
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) announces
more results from its on-going 23,000m underground in-fill drill program at El
Valle, Spain. Highlights of assay results from Black Skarn North ("BSN") and
Area 107 ("107") include:
- 39.9m grading 5.44g Au/t, 32.6g Ag/t and 2.36% Cu in DDH08KV1108,
including 10.54g Au/t, 63.0g Ag/t and 5.15% Cu over 17.1m.
- 27.1m grading 2.80g Au/t, 15.6g Ag/t and 0.77% Cu in DDH08KV1111, including
25.52g Au/t, 59.0g Ag/t and 0.91% Cu over 1.5m.
- 11.4m grading 2.77g Au/t, 18.4g Ag/t and 1.24% Cu in DDH08KV1115, including
9.27g Au/t, 41.0g Ag/t and 3.45% Cu over 1.7m.
- 22.3m grading 2.99g Au/t, 17.4g Ag/t and 0.40% Cu in DDH08KV1106.
Recent results from the program have indicated higher grades and greater
continuity of these higher grades within BSN than previously encountered. The
latest results drilled on section 11.5 at El Valle support (i) the high grade
values found in DDH08KV1105 (press release of May 20th, 2008) and (ii) the
suggested dimensions of the BSN East Area here, approximately 20m thick and over
100m wide. The potential exists for (i) extension of BSN East Area southward
some 250m to the Monica Zone and beyond and (ii) a significant increase in gold
and copper resources over those documented in the March 21st, 2008 N.I. 43-101
technical report as the mineralized body remains open to the east and south.
Drilling is on-going in order to further outline the extent of East Area, BSN.
DDH08KV1106 shows values consistent with adjacent holes in the Central Area of
the BSN, where as DDH08KV1114 shows the grades that can be expected where BSN
and 107 intersect the Charnela Structure.
Assays from the latest seven diamond drill holes are summarized as follows:
HOLE (DDH) From To (m) Interval %(2) Au (g/t) Ag (g/t) Cu (%) Zone/
(1) (m) (m) Section
(3)
08KV1115 40.00 51.40 11.40 92 2.77 18.4 1.24 BSN/
11.5
Including 43.30 46.65 3.35 " 5.30 29.8 3.02
Including 43.30 44.95 1.65 " 9.27 41.0 3.45
08KV1115 54.40 57.10 2.70 " 4.24 26.4 0.75
Including 55.85 57.10 1.25 " 6.87 49.0 1.28
---------------------------------------------------------------------------
08KV1114 72.25 76.20 3.95 86 6.74 6.1 0.06 BSN/
975 E
Including 75.00 76.20 1.20 " 18.00 9.0 0.07
---------------------------------------------------------------------------
08KV1113 142.45 152.65 10.20 89 1.67 11.1 1.59 BSN:107/
11.5
Including 146.70 149.25 2.55 " 2.40 34.6 5.18
---------------------------------------------------------------------------
08KV1112 No true widths over 1m with greater than 2g/t Au Eq BSN/
1075E
---------------------------------------------------------------------------
08KV1111 38.90 66.00 27.10 58 2.8 15.6 0.77 BSN:107/
11.5
Including 41.85 43.30 1.45 " 25.52 59.0 0.91
Including 64.40 66.00 1.60 " 4.08 26.0 1.44
---------------------------------------------------------------------------
08KV1108 47.10 87.00 39.90 50 5.44 32.5 2.36 BSN:107/
11.5
Including 62.50 79.60 17.10 " 10.54 63.0 5.15
---------------------------------------------------------------------------
08KV1106 37.9 42.7 4.8 82 2.04 6.6 0.15 BSN/
1075
Including 37.9 39.6 1.7 " 3.25 15.0 0.31
08KV1106 53.55 75.80 22.25 " 2.99 17.4 0.40
Including 53.55 60.05 6.50 " 5.40 41.1 0.75
Including 56.90 58.60 1.70 " 11.65 110.0 1.07
Including 62.55 63.65 1.10 " 5.05 23.0 0.66
Including 66.50 68.15 1.65 " 5.18 12.0 0.42
08KV1106 78.85 82.35 3.5 " 1.61 7.0 0.24
08KV1106 87.30 88.65 1.35 " 2.84 8.0 0.16
---------------------------------------------------------------------------
(1) See Schedules A, B and C for Location. (2) Percentage estimate of True
Thicknesses. (3) BSN - Black Skarn North; 107 - Area 107
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 will record a "Beyond the Press Release" concerning assay
results obtained from El Valle and Kinbauri's mine development plans on
Kinbauri's official Investor Relations Site at
http://www.agoracom.com/IR/kinbauri on or after June 4th, 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 48,031,689 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.
The Schedules A, B and C are available at the following address:
http://media3.marketwire.com/docs/abc.pdf
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.
Kinbauri Web-Site: www.kinbauri-gold.com
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