Kinbauri Identifies New Gold-Copper Zone at El Valle, Intersects 12.9 g Au/t and 0.54% Cu over 4.3m
27 Febbraio 2008 - 3:32PM
Marketwired
OTTAWA, ONTARIO (TSX VENTURE: KNB)(FRANKFURT: 3KG.DE) is pleased
to announce the latest results from its on-going 23,000m
underground in-fill drilling program at El Valle in northwestern
Spain. A new oxidized zone paralleling the Charnela Zone
(epithermal structure) has been identified at 08KV1047. The
Charnela Zone produced over 150,000 ounces of gold from 300,000
tonnes at the El Valle open pit in 2001/2002.
Highlights of the in-fill drilling program for Black Skarn North
("BSN") and Area 107 West ("107") include:
- 4.3m grading 12.9g Au/t and 0.54% Cu in hole 08KV1047.
- 5.6m grading 14.7g Au/t and 1.94% Cu including 1.4m grading 24.3g Au/t
plus 1.64% Cu in hole 08KV1046.
Assays as received from a further seven diamond drill holes at El Valle are
summarized as follows:
HOLE From To Interval Au (g/t) Ag (g/t) Cu(%) Zone/
(DDH)(1) (m) (m) (m)(2) Section(3)
08KV1051 25.10 33.10 8.00 4.47 8.54 0.34 107/10.5
including 25.10 29.00 3.90 7.79 10.50 0.24
08KV1051 38.00 40.30 2.30 1.74 15.50 1.38
--------------------------------------------------------------------------
08KV1050 31.80 53.70 21.90 3.56 13.37 0.77 107/BSN/10.5
including 40.00 49.00 9.00 5.66 21.00 1.32
including 41.50 43.00 1.50 16.40 20.00 1.60
--------------------------------------------------------------------------
08KV1048 157.00 160.00 3.00 1.98 4.00 1.13 107W/3
--------------------------------------------------------------------------
08KV1047 98.90 105.90 7.00 8.77 23.00 0.33 BNS West
including 101.60 105.90 4.30 12.93 35.00 0.54
--------------------------------------------------------------------------
08KV1046 40.40 47.60 7.20 3.34 8.00 0.22 BNS/1.5
including 40.40 41.75 1.35 6.10 12.00 0.42
08KV1046 50.20 57.60 7.40 3.24 9.00 0.40
including 53.50 55.00 1.50 6.54 23.00 0.63
08KV1046 70.60 85.30 14.70 2.70 8.00 0.55
including 70.60 71.30 0.70 0.68 71.00 4.78
including 77.70 79.00 1.30 10.84 2.00 0.02
08KV1046 100.20 105.75 5.55 14.74 21.00 1.94
including 100.20 101.80 1.60 20.01 16.00 1.63
including 103.45 104.80 1.35 24.33 31.00 2.18
-------------------------------------------------------------------------
08KV1045 156.90 163.30 6.40 4.45 1.99 0.18 107/10.5
including 157.50 159.00 1.50 6.22 2.00 0.08
-------------------------------------------------------------------------
08KV1043 No intercepts greater than 2g Au/t
-------------------------------------------------------------------------
(1) See Schedule A for Location (2) True Thicknesses are estimated to be
56% of intervals for 08KV1045; 75% of intervals for 08KV1048; 80% of
intervals for 08KV1050; 85% of intervals for 08KV1047; 92% of intervals
for 08KV1046; and 99% of intervals for 08KV1051, (3) 107 is Area
107,107W is Area 107 West and BNS is Black Skarn North
Holes 08KV1045, 08KV1050 and 08KV1051 in Section 10.5 (see
Schedule A) all intersect Area 107, which is an epithermal gold
bearing structure. The gold zone widens and is enriched where it
incorporates mineralized skarn (eg. hole KV1050). Hole 08KV1046
intercepts the Black Skarn Zone and is on the same section as
previously reported hole 08KV1044 (12.95g Au/t and 0.85% Cu over
19.4m; press release of February 14th, 2008). This confirms the
continuation of this broad zone of Au-Cu mineralization.
08KV1047 intersected oxide mineralization hosted in skarn some
180m west of Section 1. Hole V2049, previously drilled by Rio
Narcea Gold Mines, had intersected 7.6m of 13.4g Au/t and 3.40% Cu
on strike. This suggests an epithermal structure that enhances
Au-Cu values where it intercepts skarn mineralization on the
western extension of Black Skarn North, the result of which will be
a significant increase in gold resources there.
The drill programs are being supervised by Mr. Santiago
Gonzalez-Nistral, 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. Kinbauri has established an Analytical
Quality Assurance Program to control and assure the analytical
quality of assays. This program includes the systematic addition of
a blank sample, a pulp duplicate and a standard to each batch of 20
samples. The samples are obtained from HQ core sawed in half,
crushed, pulverized, homogenized and split in Kinbauri's on site
facility at El Valle. Samples are sent to the Fundacion ITMA's
laboratory in Llunero, Asturias, Spain for analyses. ITMA is a
fully accredited facility (ISO 9001). In addition 5 percent of the
samples are sent to ALS Chemex's laboratory in Canada for check
analyses. Gold assays are carried out on 30 gram splits using fire
assay procedures with an atomic absorption finish. Analyses of
other elements (Ag, Cu, As, Sb and Bi) are carried out by Flame
Atomic Absorption Spectrometry and Atomic Emission Spectrometry
with Inductive Coupling Plasma (ICP-OES) after digestion with aqua
regia on 5 grams of pulvarized sample. Detection limits (g/t) are
as follows: Au-0.05, Ag-2, Cu-100, As-100, Bi-20 and Sb-10.
This press release was prepared by Drs. C. F. Gleeson and V. N.
Rampton, P. Eng in their capacity as qualified persons.
Other corporate developments:
- Kinbauri will be hosting an exhibit at Booth Number 2543 at
the upcoming Prospectors and Developers Association Convention in
Toronto from March 2-5.
- Separately, Kinbauri has also been selected to exhibit its
core samples in the Core Shack Exhibition at the same event (Booth
5005A). Some of the high grade skarn and epithermal mineralization
from El Valle will be on exhibit.
- Kinbauri will also be featured at Booth 1H78 at the annual
INVEST 2008 Exhibition in Stuttgart, Germany from April 11-13.
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
43,372,320 common shares issued and outstanding; 67,056,236, fully
diluted.
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.
Map available at the following address:
http://media3.marketwire.com/docs/kin0227.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.
Contacts: North America Darrell Munro, BB.A, LL.B Manager
Corporate Communications dmunro@kinbauri-gold.com Dr. Vern Rampton,
P. Eng., President vrampton@kinbauri-gold.com 613-836 2594 613-831
2730 (FAX) kinbauri@kinbauri-gold.com Dr. Chris Gleeson, P. Eng.
Vice-President Exploration c.gleeson@persona.ca 613-652-4594
613-652-1223 (FAX) Europe Ruediger (Rudy) Hnyk CEO INVESTEL
Investor Relations & Telecommunications ceo@investel.de
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