Kinbauri Drilling Suggest Significant Increase in Resources at El Valle
04 June 2008 - 2:37AM
Marketwired
OTTAWA, ONTARIO (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
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 Dr. Chris Gleeson, P. Eng.,
Vice-President Exploration 613-652-4594 cgleeson@kinbauri-gold.com
kinbauri@kinbauri-gold.com Europe INVESTEL Investor Relations &
Telecommunications Ruediger (Rudy) Hnyk, CEO ceo@investel.de
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