Drilling Extends High Grade Skarn at Kinbauri's El Valle Project Drills 15.2m of 8.2g Au/t, 18.0g Ag/t and 1.19% Cu Including 5.
20 Giugno 2008 - 2:06PM
Marketwired Canada
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased
to announce continued results from its on-going 23,000m underground in-fill
diamond drilling program at El Valle (over 75% the program is now complete).
Highlights of assay results from Black Skarn North ("BSN") and Area 107 ("107")
include:
- 35.8m grading 4.9g Au/t, 13.9g Ag/t and 0.80% Cu in 08KV1117,
including 5.8m grading 11.1g Au/t, 36.5 Ag/t and 1.14% Cu.
- 15.2m grading 8.2g Au/t, 18.0g Ag/t and 1.19%Cu also in 08KV1117,
including 3.8m grading 25.1g Au/t, 37.8g Ag/t and 2.04% Cu.
- 25.0m grading 4.1g Au/t, 2.8g Ag/t and 0.21% Cu in 08KV1110,
including 1.7m grading 12.2g Au/t, 2.0g Ag/t and 0.05% Cu.
- 17.9m grading 3.9g Au/t, 16.0g Ag/t and 0.54% Cu in 08KV1103,
including 3.1m grading 10.8g Au/t, 53.5g Ag/t and 1.18% Cu.
- 9.1m grading 12.1g Au/t, 47.2g Ag/t and 2.69% Cu in 08KV1120,
including 4.3m grading 23.8g Au/t, 97.1g Ag/t and 5.53% Cu.
Results from 08KV1117 on section 12 indicate an extension of the "high grade
skarn" (hereafter referred to as the San Martin Zone) at least 30m further south
of 08KV1105. The San Martin zone was first identified in 08KV1105 (press release
of May 20th, 2008). As suggested in our press release of June 3rd, continuation
of the San Martin Zone to the Monica Zone, a further 200 m to the south, would
result in a significant increase in El Valle's total gold and copper resources.
Holes 08KV1116, 08KV1118 and 08KV1120 are in-fill holes located in the Central
Area of BSN, where chalcopyrite-magnetic skarn is overprinted by epithermal
mineralization associated with the Charnela Zone. This results in substantial
Au-Ag-Cu enrichment, most dramatically illustrated by the 4.25m of 23.79g Au/t,
97.1g Ag/t and 5.53% Cu in 08KV1120. Holes 08KV1103, 08KV1110 and 08KV1119 are
in-fill holes in the West Area of BSN that confirm the thickness and grade of
previously drilled Au-Ag-Cu bearing skarn in this Area (press releases of
February 27th, March 10th and April 17th, 2008). Hole 08KV1068 is on section 5
and is from the oxidized sector of Area 107 where gold is hosted in jasperoid
breccia.
Assays from the latest ten diamond drill holes are summarized as follows:
HOLE From To Interval % Au Ag Cu Zone
(DDH)(1) (m) (m) (m) (2) (g/t) (g/t) (%) /Section(3)
08KV1120 81.90 91.00 9.10 94 12.10 47.2 2.69 107/975
Including 85.35 89.60 4.25 " 23.79 97.1 5.53
---------------------------------------------------------------------------
08KV1119 103.00 104.50 1.50 55 2.09 11.0 0.95 BSN/900
08KV1119 112.70 127.70 15.00 " 3.64 7.3 0.24
Including 112.70 115.90 3.20 " 5.63 6.0 0.18
08KV1119 122.95 124.55 1.60 " 7.43 30.0 0.80
---------------------------------------------------------------------------
08KV1118 85.85 97.10 11.25 34 2.34 12.8 0.58 BSN/975
Including 90.35 91.65 1.30 " 5.74 53.0 1.37
08KV1118 100.20 111.75 11.55 " 1.95 10.1 0.59
Including 105.45 106.80 1.35 " 2.37 28.0 1.49
---------------------------------------------------------------------------
08KV1117 169.15 204.90 35.75 30 4.92 13.9 0.80 BSN/12
Including 177.40 197.00 19.60 " 7.40 18.0 0.88
Including 177.40 183.20 5.80 " 11.08 36.5 1.14
08KV1117 228.10 243.25 15.15 " 8.15 18.0 1.19
Including 230.25 234.00 3.75 " 25.12 37.8 2.04
08KV1117 252.40 254.20 2.10 " 3.08 18.0 1.92
---------------------------------------------------------------------------
08KV1116 83.65 107.55 23.90 57 1.87 6.5 0.38 BSN/975
Including 91.25 92.75 1.50 " 5.06 2.0 0.08
Including 97.00 98.60 1.60 " 7.10 21.0 0.35
08KV1116 117.60 133.60 16.00 " 1.65 9.0 0.58
Including 117.60 120.9 3.30 " 4.20 18.5 1.15
08KV1116 149.40 150.80 1.40 " 1.58 10.0 0.62
---------------------------------------------------------------------------
08KV1110 112.10 126.50 14.40 78 2.72 12.7 1.14 BSN/900
Including 122.00 126.50 4.50 " 6.00 25.7 2.20
08KV1110 130.20 148.30 18.10 " 2.23 11.4 0.66
Including 130.20 134.00 3.80 " 1.67 16.3 2.06
08KV1110 165.25 190.20 24.95 " 4.05 2.8 0.21
Including 166.90 168.55 1.65 " 12.21 2.0 0.05
Including 171.55 177.85 6.30 " 5.33 3.1 0.13
08KV1110 199.35 202.85 3.50 " 4.67 2.4 0.21
Including 199.35 200.85 1.50 " 6.99 3.0 0.34
---------------------------------------------------------------------------
08KV1109 69.40 70.70 1.30 " 2.28 3 0.03 BSN/1075
---------------------------------------------------------------------------
08KV1107 No intercepts of 2 g/t Au eq 107/9
---------------------------------------------------------------------------
08KV1103 114.10 131.95 17.85 57 3.9 16.0 0.54 BSN/875
Including1 115.85 122.25 6.40 " 7.40 34.9 1.09 &107W/2W
Including2 115.85 118.95 3.10 " 10.78 53.5 1.18
--------------------------------------------------------------------------
08KV1068 106.55 115.70 9.15 87 2.42 5.4 0.21 107/5
Including 106.55 109.20 2.65 " 5.80 11.8 0.28
Including 407.20 109.20 2.00 " 6.82 13.0 0.17
--------------------------------------------------------------------------
(1) See Schedules A and B 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 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.
In other corporate news: only 790,000 of the previously announced one million
options approved for issuance were actually awarded (press release of June 9th,
2008); a further award of options await a total corporate review of corporate
governance and compensation policies.
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 49,567,013 common shares issued and outstanding.
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
The Schedules A & B are available at the following address :
http://media3.marketwire.com/docs/Schedules_A.pdf
http://media3.marketwire.com/docs/Schedules_B.pdf
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