Kinbauri Cuts High Grade Gold At El Valle
29 July 2008 - 10:17PM
Marketwired
OTTAWA, ONTARIO (TSX VENTURE: KNB)(FRANKFURT: 3KG.DE) is pleased
to announce more results from its on-going 23,000m underground
in-fill diamond drilling program at El Valle (scheduled for
completion by mid-August).Highlights of assays results include:
- 6.1m grading 49.8g Au/t and 0.67% Cu in 08KV1145,
including 1.55m grading 195.0g Au/t and 0.49% Cu
- 3.3m grading 30.9g Au/t also in 08KV1145,
including 1.65m grading 58.3g Au/t
- 4.3m grading 14.2g Au/t, 39.5g Ag/t and 0.42% Cu in 08KV1139,
including 1.4m grading 43.10g Au/t, 42.7g Ag/t and 0.08% Cu
- 9.2m grading 4.3g Au/t, 31.2g Ag/t and 0.57% Cu in 08KV1135,
including 1.35m grading 19.9g Au/t, 15.3g Ag/t and 1.07% Cu
- 21.85m grading 2.1g Au/t, 12.2g Ag/t and 0.84% Cu in 08KV1132,
including 1.55m grading 11.9g Au/t, 36.0g Ag/t and 2.51% Cu
- 21.4m grading 2.3g Au/t, 11.4g Ag/t and 0.50% Cu in 08KV1144,
including 2.5m grading 8.3g Au/t, 17.5g Ag/t and 0.47% Cu
Hole 08KV1145, which is the first hole drilled on section 8.5 of
Area 107 ("107"), has yielded high gold assay values, namely 1.45oz
Au/ton over 6.1m (including 5.7oz Au/ton over 1.55m), values well
above the average 10.1g Au/t for 107. In-fill drilling continues in
the vicinity of 08KV1145.
Hole 8KV1132, 08KV1136, 08KV1144, 08KV1147 and 08KV 1148 confirm
the continuity of the gold/copper skarn mineralization in the
Central and East Areas of Black Skarn North ("BSN") whereas
08KV1131 and 08KV1135 confirm the continuity in the West Area of
BSN.
Assays from the latest twelve diamond drill holes are summarized as follows:
HOLE From (m) To (m) Interval %(2) Au Ag Cu Zone/
(DDH) (1) (m) (g/t) (g/t) (%) Section
(3)
08KV1148 46.30 50.50 4.20 " 2.17 16.0 1.19 BSN/1175
Including 49.10 50.50 1.40 " 2.81 24.9 1.61 (B): 5 (A)
--------------------------------------------------------------------------
BSN/1175
08KV1147 28.70 40.75 12.05 52 1.43 11.3 0.69 (B): 5 (A)
Including 34.60 38.30 3.70 " 2.21 14.0 0.97
08KV1147 78.15 79.80 1.65 " 2.67 29.6 1.92
08KV1147 103.60 109.30 5.70 " 1.74 12.6 0.91
--------------------------------------------------------------------------
107/Sec.
08KV1145 156.70 162.80 6.10 " 49.77 1.5 0.66 8.5 (A)
Including 158.25 159.80 1.55 " 195.00 4.0 0.49
08KV1145 173.40 176.70 3.30 " 30.87 0.6 0.05
Including 173.40 175.05 1.65 " 58.30 0.2 0.05
08KV1145 180.90 182.90 2.00 " 2.57 0.2 0.00
---------------------------------------------------------------------------
BSN/1150
08KV1144 29.50 50.90 21.40 60 2.28 11.3 0.50 (B): 4.5(A)
Including 31.35 34.35 3.00 " 4.13 23.4 0.58
Including 38.90 41.40 2.50 " 8.33 17.5 0.47
08KV1144 79.10 94.85 15.75 " 1.25 9.2 0.41
Including 85.25 88.00 2.75 " 3.07 13.7 0.66
08KV1144 101.10 116.50 15.40 " 0.81 10.7 0.59
---------------------------------------------------------------------------
BSN/1125
08KV1140 46.90 48.50 1.60 86 1.50 9.0 0.24 (B)
---------------------------------------------------------------------------
A107/1100
08KV1139 149.10 151.60 2.50 87 2.52 4.6 0.06 (B): 3(A)
Including 149.10 150.20 1.10 " 4.26 0.8 0.03
08KV1139 173.90 178.20 4.30 " 14.16 39.5 0.42
Including 173.90 175.30 1.40 " 43.10 42.7 0.08
---------------------------------------------------------------------------
BSN/1125
08KV1136 69.40 78.75 9.35 95 2.46 6.7 0.50 (B): 3.5(A)
Including 69.40 72.20 2.80 " 3.72 7.6 0.15
Including 77.75 78.75 1.00 " 2.88 14.0 1.40
---------------------------------------------------------------------------
08KV1135 106.10 115.30 9.20 77 4.29 31.2 0.57 BSN/925(B)
Including 113.95 115.30 1.35 " 19.91 15.3 1.07
---------------------------------------------------------------------------
BSN/1125
08KV1133 32.75 38.40 5.65 70 4.33 26.3 0.70 (B): 3.5(A)
Including 32.75 35.55 2.80 " 7.10 48.5 1.33
08KV1133 52.50 55.15 2.65 " 1.59 6.6 0.50
08KV1133 84.50 87.00 2.50 " 3.91 21.5 0.82
Including 85.75 87.00 1.25 " 4.99 30.0 1.21
---------------------------------------------------------------------------
08KV1132 34.95 39.25 4.30 76 1.82 6.8 0.21 BSN/9.5(A)
08KV1132 54.65 76.50 21.85 " 2.07 12.2 0.84
Including 74.15 75.70 1.55 " 11.90 36.0 2.51
--------------------------------------------------------------------------
08KV1131 103.05 104.35 1.35 68 2.09 3.0 0.13 BSN/925(B)
08KV1131 110.55 143.40 32.85 " 1.49 10.2 0.48
Including 137.80 140.60 2.80 " 2.52 17.5 1.09
08KV1131 149.40 154.00 4.60 " 1.60 7.7 0.53
08KV1131 173.95 184.8 10.85 " 1.63 10.4 0.66
Including 177.30 181.00 3.70 " 2.48 18.0 1.38
Including 177.30 178.20 0.90 " 3.00 38.0 4.42
--------------------------------------------------------------------------
08KV1130 No intercepts greater than 2 g/t Au eq BSN/3(A)
--------------------------------------------------------------------------
(1) See Schedules A and B for Location. (2) Percentage estimate
of True Thicknesses. (3) BSN - Black Skarn North, 107 - Area 107,
(A) - Schedule A, (B) - Schedule B
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 has recorded
"Beyond the Press Releases" 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.
About 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
49,650,625 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.
Kinbauri Web-Site: www.kinbauri-gold.com
Schedules are available at the following addresses :
http://media3.marketwire.com/docs/2008-27%20Schedules%20A.pdf
http://media3.marketwire.com/docs/2008-27%20Schedules%20B.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 kinbauri@kinbauri-gold.com Kinbauri
Gold Corp Dr. Chris Gleeson, P. Eng. Vice-President Exploration
613-652-4594 cgleeson@kinbauri-gold.com Europe Investel Ruediger
(Rudy) Hnyk, CEO Investor Relations ceo@investel.de
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