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 5.8m of 25.1g Au/t, 37.8g Ag/t and 2.04% Cu
OTTAWA, ONTARIO, June
20, 2008: Kinbauri Gold Corp. ("Kinbauri") (Toronto:
TSXV.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 (DDH) (1)
|
From (m)
|
To (m)
|
Interval (m)
|
% (2)
|
Au (g/t)
|
Ag (g/t)
|
Cu (%)
|
Zone/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 > 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 Carl�s is being
supervised by Mr. Santiago Gonzalez-Nistal, Kinbauri Espa�a'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.
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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.
FOR FURTHER INFORMATION CONTACT:
North America
Darrell Munro, BB.A, LL.B, Manager Corporate Communications
E-mail: dmunro@kinbauri-gold.com
Tel.: (613) 836-0198
Europe
Ruediger (Rudy) Hnyk, CEO
INVESTEL
Investor Relations
E-Mail: ceo@investel.de
OR 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
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