Kinbauri Completes In-Fill Drill Program: Resource Up-Date Scheduled for Early October, New Discovery Contains Significant High
26 Août 2008 - 2:00PM
Marketwired Canada
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased
to announce that its in-fill drill program (145 holes) was completed on August
16th; a total of 22,275 m were drilled. Final assay results from 11 holes are
pending with receipt expected in early September.
Resource at El Valle and Carles
Completion of the in-fill drill program will allow delivery of a new N.I. 43-101
technical report (resource up-date) by mid-October. In addition to the expected
up-grades in resource classification due to the drill hole spacing, it is
anticipated that there will be a significant increase in the resources for five
of the twelve zones at El Valle, notably Area 107 ("A107"), Black Skarn ("BSN"),
Monica, Charnela and San Martin. These five zones are expected to be included
in the early mine plan upon recommencement of operations at El Valle. A January
16th, 2008 N.I. 43-101 compliant technical report (the "Report") estimated that
four of these zones contained the following resources:
- Measured and indicated: 545,000 ounces gold and 71.5 million pounds copper
(3,220,000t at 5.26g Au/t and 3,138,000t at 1.04% Cu).
- Inferred: 688,000 ounces gold and 39.8 million pounds copper (3,143.000t at
6.81g Au/t and 3,038,000t at 0.6% Cu).
The Report also estimated resources for all the zones at El Valle and Carles:
- Measured and Indicated: 725,200 ounces gold and 86.9 million pounds copper
(4,159,000 t at 5.4g Au/t and approximately 0.97% Cu).
- Inferred: 964,000 ounces gold and 50.0 million pounds copper (3,459,000 t at
8.67g Au/t and approximately 0.56% Cu).
New Discovery: San Martin Zone
A substantial increase in resources at El Valle is expected due to the newly
discovered San Martin Zone, the continuation of BSN to the west and enhanced
gold and copper grades where the Charnela Zone intersects the BSN. The San
Martin Zone, itself, is (i) characterized by wide Au-Cu intercepts, (ii) defined
for some 200 m along strike and (iii) open to the east and south (See Schedule
C). It is considered to be Kinbauri's most significant new discovery to date.
Notable intercepts are as follows:
- 8g Au/t, 36g Ag/t and 2.1% Cu over 33.9m in 07KV1009R
- 10.5g Au/t, 63g Ag/t and 5.2% Cu over 17.1m in 08KV1108
- 7.2g Au/t, 18g Au/t and 1.0% Cu over 21.1m and
8.2g Au/t, 18g Ag/t and 1.2% Cu over 15.2m in 08KV1117
- 5.8g Au/t, 25g Ag/t and 2.0% Cu over 26.7m and
4.9g Au/t, 14g Ag/t and 0.6% Cu over 8.8m in 08KV1159
Recent Drill Results
Kinbauri is in receipt of results from a further 13 in-fill diamond drill holes,
mainly targeting BSN. Received assays are summarized as follows:
Zone/
HOLE (DDH) From To Interval % Au Ag Cu Section
(1) (m) (m) (m) (2) (g/t) (g/t) (%) (3)
----------------------------------------------------------------------------
08KV1159 208.70 235.35 26.65 25 5.75 25.4 1.95 BSN/12.5
Including 225.00 235.35 9.45 " 10.19 42.5 2.92
08KV1159 250.50 260.30 8.80 " 4.92 13.6 0.63
Including 250.50 252.10 1.60 " 22.80 47.7 1.64
----------------------------------------------------------------------------
08KV1157 296.00 299.15 3.15 96 8.60 2.1 0.49 A107/10
Including 297.50 299.15 1.65 " 15.00 3.1 0.87
----------------------------------------------------------------------------
08KV1156 111.40 112.70 1.30 19 4.36 11.3 0.31 BSN/13
08KV1156 239.90 251.50 11.60 " 1.73 14.3 1.25
Including 247.80 251.50 3.70 " 2.70 27 1.97
----------------------------------------------------------------------------
08KV1154 77.60 79.80 2.20 28 2.55 6.6 0.30 BSN/13
08KV1154 107.40 110.55 3.15 " 2.33 11.1 0.24
Including 107.40 109.10 1.70 " 3.48 12.0 0.30
08KV1154 128.20 129.30 1.10 " 5.27 16.0 0.37
08KV1154 154.85 160.80 5.95 " 3.08 18.6 0.01
Including 1 154.85 156.35 1.50 " 4.92 37.3 0.01
Including 2 159.35 160.80 1.45 4.82 6.0 0.01
----------------------------------------------------------------------------
08KV1153 58.75 80.95 22.20 41 2.03 10.7 0.61 BSN/10
Including 1 60.05 62.75 2.70 " 3.09 24.1 1.21
Including 2 68.35 71.55 3.20 " 3.41 14.6 0.95
----------------------------------------------------------------------------
08KV1152 35.00 68.05 33.05 70 1.31 10.0 0.59 BSN/1175: 5
Including 1.1 35.00 40.65 5.65 " 2.06 19.3 1.08
Including 1.2 36.10 37.30 1.20 " 7.09 45.1 2.97
Including 2 47.30 51.90 4.60 " 1.81 11.7 0.88
Including 3 61.40 63.90 2.50 " 1.60 12.7 0.94
----------------------------------------------------------------------------
08KV1149 85.90 100.60 14.70 98 2.49 4.1 0.02 BSN /900
Including 1 90.00 93.15 3.15 " 5.05 2.3 0.04
Including 2 91.30 93.15 1.85 " 6.93 2.5 0.05
Including 3 96.90 98.80 1.90 4.15 18.7 0.02
----------------------------------------------------------------------------
08KV1143 35.60 44.75 9.15 95 1.50 9.2 0.37 BSN/1150: 4
Including 35.60 37.55 1.95 3.18 19.0 0.58
08KV1143 56.35 57.60 1.25 " 6.4 3.0 0.09
08KV1143 63.90 68.40 4.50 " 2.64 9.5 0.47
----------------------------------------------------------------------------
08KV1142 96.50 101.00 4.50 95 4.79 4.6 0.07 BSN/925
Including 99.50 101.00 1.50 " 11.45 6.7 0.04
----------------------------------------------------------------------------
08KV1141 65.65 73.90 8.25 85 2.94 10.6 0.75 BSN/1150: 4
Including 71.10 72.75 1.65 " 6.00 29.0 2.14
----------------------------------------------------------------------------
08KV1138 108.50 124.90 16.40 60 1.45 9.2 0.43 BSN/925
08KV1138 130.95 140.60 9.65 " 2.63 4.0 0.12
08KV1138 212.35 221.10 8.75 " 1.06 9.7 0.67
Including 212.35 214.00 1.65 " 2.08 15.4 1.06
08KV1138 255.95 262.30 6.35 " 2.14 18.6 0.74
Including 260.95 262.3 1.35 " 7.31 65.1 1.40
----------------------------------------------------------------------------
08KV1137 42.15 56.30 14.15 77 1.90 11.5 0.53 BSN/1125: 4.5
08KV1137 58.90 62.50 3.60 " 4.83 24.0 1.06
Including 60.7 62.5 1.8 " 5.24 21.0 1.33
----------------------------------------------------------------------------
08KV1134 192.90 194.50 1.60 95 5.80 2.0 0.01 A107/9
08KV1134 216.90 218.30 1.40 " 3.36 2.0 0.17
----------------------------------------------------------------------------
(1) See Schedules A, B and C for Location.
(2) Percentage estimate of True Thicknesses.
(3) BSN - Black Skarn North, A107.
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.
Future Drilling and Other Corporate
Exploration drilling will begin in September to trace continuity of the San
Martin Zone. A new exploration adit is planned northwards from Boinas East to
establish drill stations for this exploration work. Numerous other zones are
targeted for drilling at El Valle and Carles before the end of 2008.
With modeling and coincidental new resource classifications underway, Scott
Wilson Roscoe Postle Associates have indicated they can deliver a Scoping Study
in the last quarter of 2008. Kinbauri is presently funded through January 2009
to continue its development and exploration programs. Upon final registration
of certain documents in Spain in September, some funds, presently being held in
escrow by Anglo Pacific Group, will be released.
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 will be recording
"Beyond the Press Release" web-cast concerning assay results and Kinbauri's
near-term plans on its official Investor Relations Site at
http://www.agoracom.com/IR/kinbauri on or after August 26th, 2008.
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 48,752,695 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 address:
http://media3.marketwire.com/docs/schedABC.pdf
Kinbauri Gold Corp Com Npv (TSXV:KNB)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Kinbauri Gold Corp Com Npv (TSXV:KNB)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024