VANCOUVER, BRITISH COLUMBIA (OTCBB: BYBUF)(FRANKFURT: B4K), is
pleased to announce the commencement of a 3250 metre drill program
at the Furtei project, Sardinia. A drill contract has been awarded
to the Italian company SO.RI.GE. S.rl. for up to 1750 metres of
diamond core drilling in four holes. In addition the program will
include up to 1500 metres of reverse circulation (RC) drilling to
be completed by Furtei employees using the Company's RC drill
rig.
The current known deposits at Furtei occur at structural
intersections and lithological contacts. The RC program will
therefore target the delineation of new mineralization through a
series of shallow (150 metre) holes into similar structural and
lithological intersections in close proximity to the known
underground deposits such as Su Coru. Buffalo, with its consultants
Wardrop Engineering, is completing an in-house feasibility study on
the current underground targets with a goal of starting production
in 2009.
The diamond drilling program will mainly test for mineralization
in the black diatreme breccia unit. This flat-lying unit is a
volcanic breccia with angular clasts and a dark grey pyrite-rich
matrix that sits below several of the current underground targets.
It has been followed on section for 180 metres and is open to the
north and east. Historical drill intersections within this unit
have included:
- 3 metres @ 12 g/t Au in hole MAD113
- 3 metres @ 7.8 g/t Au in hole SMND1
- 7 metres @ 4.9 g/t Au in hole CDRD153
Previous drilling into the black diatreme breccia has not been
included in any historic resource calculations but Buffalo believes
that with additional drill delineation it has the potential to add
significant resources to the project.
Additional Updates
Mt. Kare Project
Buffalo recently completed a 21.7 line kilometre Induced
Polarization (IP) survey over the southern extension of the Mt.
Kare gold deposit. The survey, carried out by Elliot Geophysics
International, followed up on previous work which outlined a broad
IP response over the known mineralized zones, open-ended to the
south. Elliott employed a different dipole configuration and more
powerful transmitter compared to the previous survey, providing
good quality readings and increased depth penetration. Modelling of
the new data by GeoDiscovery Group, Brisbane indicates that a +/-
400 metre wide, 300 metre deep, strong chargeability anomaly
extends southward for at least 250 metres beyond the most southerly
line of drilling on Mt. Kare. The anomaly is interpreted as being
in response to sulphide mineralization and defines a previously
untested portion of the Mt. Kare gold-bearing epithermal system.
This new anomaly is being reviewed to define drill targets and has
the potential to add incremental ounces to the existing resource of
1.7 million ounces gold(i).
Kinbauri Gold
Buffalo holds a 19.8% strategic interest in Kinbauri Gold Corp.
(TSX VENTURE: KNB) as part of the Company's on-going strategy of
aggressively adding value through investing in or acquiring
projects and companies that offer considerable growth potential
(See Buffalo news release July 4th, 2007). Kinbauri is aggressively
exploring and developing at its El Valle project in northwestern
Spain and recently released new drill results from its on-going
23,000 metre underground drilling program. The news release from
Tuesday March 18th said: "Highlights of the assay results
include:
- 27.9m grading 5.4g Au/t, 14.5g Ag/t and 0.78% Cu in DDH
08KV1058
- including 3.5m grading 18.3g Au/t, 46.0g Ag/t and 1.6% Cu
- 10.1m grading 11.0g Au/t, 2.5g Ag/t and 0.54% Cu in DDH
08KV1058
- including 3.2m grading 29.3g Au/t, 4.0g Ag/t and 0.43% Cu
- 1.5m grading 10.1g Au/t, 2.0g Ag/t and 0.22% Cu in DDH
08KV1054
- 26.7m grading 3.0g Au/t, 6.1g Ag/t and 0.36% Cu in DDH
08KV1060
- including 4.1m grading 8.2g Au/t, 7.5g Ag/t and 0.27% Cu
- including 2.2m grading 5.6g Au/t, 13.9g Ag/t and 1.26% Cu
- 1.8m grading 8.0g Au/t, 25.0g Ag/t and 0.83% Cu in DDH
08KV1060
The underground infill program continues to generate excellent
results, most notably high grade Au and Cu values where the Area
107 epithermal structure intersects Black Skarn mineralization..."
For full text of the news release please see the Kinbauri website,
www.kinbauri-gold.com.
Based on the work completed to date Kinbauri has initiated
engineering and mining studies leading to feasibility with a plan
of being in production by 2010.
About Buffalo Gold
Buffalo's vision is to build shareholder value by growing a gold
mining company through a combination of exploration and
acquisition. The Company became a gold producer in November 2007
with the acquisition of the Furtei mine and has produced over 1000
ounces of gold since then. Buffalo is exploring projects in
Sardinia, PNG and Australia, and has made strategic investments
into Kinbauri Gold with advanced projects in Northern Spain and AMI
Resources with grassroots projects in Ghana.
(i) Buffalo has an NI 43-101 compliant gold resource estimate
for Mt. Kare of 18,830 kt at 2.31 g/t Au for a total of 1.4 million
ounces in the indicated category and 5,753 kt at 1.56 g/t Au for a
total of 288,000 oz in the inferred category at a 1.0 g/t gold
cut-off, as reported on June 21st 2007, verified by Snowden Mining
Industry Consultants.
In April Buffalo will be attending two events in Europe and
invites investors to come and learn more about the Company:
European Gold Forum, April 8-11, Zurich, Switzerland.
www.denvergold.org
Invest 2008 Exhibition, April 11-13, Stuttgart, Germany.
http://www.messe-stuttgart.de/cms/invest-infos-besucher00.0.html
To find out more about Buffalo Gold Ltd., please visit the
company website at www.buffalogold.ca.
Brian McEwen is the Qualified Person for Buffalo and has read
and approved the contents of this news release.
On behalf of the Board of Directors of
BUFFALO GOLD LTD.
Brian McEwen, President and CEO
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. Buffalo
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.
Cautionary note to U.S. Investors
The United States Securities and Exchange Commission ("SEC")
permits mining companies, in their filing with the SEC, to disclose
only those mineral deposits that a company can economically and
legally extract or produce. We use certain terms in this news
release, such as "mineral resources", "measured", "indicated", and
"inferred resources", that the SEC guidelines prohibit us from
including in our filing with the SEC. Investors are urged to
consider closely the disclosure in our Form 20-F, File No. 0-30150,
available from us by contacting the Investor Relations
Department.
This news release may contain information about adjacent
properties on which we have no right to explore or mine. We advise
U.S. Investors that the SEC's mining guidelines strictly prohibit
information of this type in documents filed with the SEC. U.S.
Investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our
properties.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy of this press release.
Contacts: Buffalo Gold Ltd. Julie Hajduk Investor Relations
(604) 685-5492 or Toll Free: 1-888-685-5492 (604) 685-2536 (FAX)
Email: julie@buffalogold.ca Website: www.buffalogold.ca
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