Kinbauri Drills 15.8m Grading 4.4g Au/t, 22.3g Ag/t and 0.41% Cu, Including 1.0m Grading 24.0g Au/t, 135g Ag/t and 1.81% Cu Anno
07 Maggio 2008 - 7:07PM
Marketwired Canada
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased
to announce more results from its on-going 23,000m underground drilling program
at El Valle in northwestern Spain. Highlights of the assay results from the 107
Area/Black Skarn North zones include:
- 15.8m grading 4.42g Au/t, 22.3g Ag/t and 0.41% Cu in DDH08KV1093
including 2.6m grading 16.04g Au/t, 78.4g Ag/t and 1.06% Cu
- 21.5m grading 2.45g Au/t, 7.8g Ag/t and 0.26% Cu in DDH08KV1094
- 28.4m grading 2.25g Au/t, 10.6g Ag/t and 0.46% Cu in DDH08KV1098
including 1.35m grading 6.35g Au/t, 26.0g Ag/t and 1.66% Cu
- 17.95m grading 2.64g Au/t, 10.9g Ag/t and 0.60% Cu in DDH08KV1100
including 1.6m grading 7.04g Au/t, 28.0g Ag/t and 1.45% Cu
- 19.7m grading 2.29g Au/t, 13.7g Ag/t and 0.65% Cu in DDH08KV1101
including 1.6m grading 9.75g Au/t, 93.0g Ag/t and 5.06% Cu
The underground infill program continues to generate excellent results for Area
107 and Black Skarn North ("BSN") and demonstrate good continuous substantial
thicknesses for BSN. Assays received from the latest nine diamond drill holes
are summarized as follows:
HOLE (DDH) From To (m) Inter- %(2) Au (g/t) Ag (g/t) Cu (%) Zone/
(1) (m) val(m) Section(3)
08KV1083 95.75 99.75 4.00 49 4.55 3.0 0.04 107:BSN/sec 1
Including 97.75 99.75 2.00 " 7.89 4.0 0.04
--------------------------------------------------------------------------
08KV1093 32.65 48.20 15.55 89 2.19 18.1 1.00 BSN:107/sec 3
Including 34.30 36.00 1.70 " 5.37 40.0 2.51
08KV1093 50.30 66.10 15.80 " 4.42 22.3 0.41
Including 51.30 53.90 2.60 " 16.04 78.4 1.06
Including 51.30 52.30 1.00 " 23.97 135.0 1.81
Including 64.90 66.10 1.20 " 6.70 43.0 1.06
--------------------------------------------------------------------------
08KV1094 150.95 172.40 21.45 " 2.45 7.8 0.26 BSN/ 775
Including156.35 159.45 3.10 " 5.04 6.0 0.19
Including167.30 170.15 2.85 " 4.25 13.0 0.62
--------------------------------------------------------------------------
08KV1095 35.90 46.90 11.00 83 1.32 12.2 0.51 BSN/sec 3
Including 35.90 39.30 3.40 " 2.30 15.5 0.50
Including 43.90 45.00 1.10 " 1.56 26.0 1.29
--------------------------------------------------------------------------
08KV1097 205.20 205.70 0.50 82 2.17 2.0 0.17 107:BSN/sec
11.5
--------------------------------------------------------------------------
08KV1098 42.60 44.00 1.40 76 1.95 10.0 0.15 BSN:107/sec
2.5
08KV1098 49.60 77.95 28.35 " 2.25 10.6 0.46
Including 55.50 56.85 1.35 " 6.35 26.0 1.66
Including 74.95 77.95 3.00 " 6.02 14.0 0.37
08KV1098 81.10 85.75 4.65 " 2.06 2.0 0.04
08KV1098 100.10 103.10 3.00 " 1.29 14.0 0.44
08KV1098 115.75 124.1 8.35 " 1.65 9.4 0.25
Including116.95 118.35 1.40 " 3.08 18.0 0.45
--------------------------------------------------------------------------
08KV1100 42.45 60.40 17.95 93 2.64 10.9 0.60 BSN:107/sec
2.5
Including
1 44.05 45.65 1.60 " 7.04 28.0 1.45
Including
2 46.50 49.70 3.20 " 1.93 15.0 1.40
Including
3 54.95 56.55 1.60 " 5.36 9.0 0.17
08KV1100 62.55 69.90 7.35 " 2.13 2.3 0.18
Including
1 64.75 65.45 0.70 " 7.31 2.0 0.10
08KV1100 76.45 91.5 15.05 " 2.21 4.0 0.36
Including
1 78.15 81.55 3.40 " 3.18 6.0 0.71
Including
2 88.45 89.9 1.45 " 6.54 2.0 0.10
08KV1100 147.85 149.50 1.65 93 2.83 4.0 0.01
--------------------------------------------------------------------------
08KV1102 39.90 41.45 1.55 88 2.21 6.0 0.04 BSN:107/sec
2.5
08KV1102 50.00 69.70 19.70 " 2.29 13.7 0.65
Including 57.00 58.60 1.60 " 9.75 93.0 5.06
08KV1102 77.65 78.95 1.30 " 3.31 3.0 0.01
08KV1102 91.7 92.7 1.00 " 4.41 31.0 2.06
--------------------------------------------------------------------------
(1) See Schedules A and B for Location. (2) Percentage estimate of True
Thicknesses. (3) 107 is Area 107, 107W is Area 107 West and BSN is Black
Skarn North
Six of the diamond drill holes reported herein (DDHs 08KV1083, 1093, 1095, 1098,
1100 and 1102) are in-fill holes drilled on 25m centres within the Central Area
of BSN. As expected, results confirm continuous substantial thicknesses that
should allow BSN to be economically exploited through bulk mining. DDH 08KV1093
marks the inner edge of the BSN on section 3 (see Schedules).
DDH08KV1094 is on the most westerly section being drilled on BSN during this
in-fill program and confirms the probability that the skarn mineralization
continues for some distance to the south, potentially adding substantial
resources at El Valle.
In other corporate news, Kinbauri is pleased to announce that it recently
received a VAT (Value Added Tax) refund in the amount of $1.6M from the Spanish
Government and is currently awaiting infusions of $750,000 from government
subsidies; in addition $360,000US is pending from the sale of gold residue
recovered from cleanup of the mill's gravity circuit. Kinbauri is now well
capitalized with the $1M from its recent private placement with Anglo Pacific
Group (press release of April 23, 2008) and the $7.5M royalty payment (press
release of March 10, 2008) that is expected to close by next Monday. It can now
complete its 23,000M infill drilling program ahead of schedule and subsequently
commence an aggressive exploratory drill program at its El Valle and Carles
properties in search of additional resources. The pending feasibility study, to
be completed this year, will allow Kinbauri the alternative of financing the
remainder of its pre-production development by non-dilutive alternatives.
The underground drill program at El Valle 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 press release of
February 27th, 2008. The current press release was prepared by Dr. V. N.
Rampton, P. Eng in his capacity as a qualified person. 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 47,125,689 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 and B are available at the following address:
http://media3.marketwire.com/docs/ab.pdf
Grafico Azioni Kinbauri Gold Corp Com Npv (TSXV:KNB)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Kinbauri Gold Corp Com Npv (TSXV:KNB)
Storico
Da Lug 2023 a Lug 2024
Notizie in Tempo Reale relative a Kinbauri Gold Corp Com Npv (Venture Exchange Canada (TSXV)): 0 articoli recenti
Più Kinbauri Gold Corp. Articoli Notizie