Capella Resources Ltd.

Published : May 11th, 2010

Updates Drill Results

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Keywords :   Canada | Chile | Copper | Gold | Lead | Market |

Capella Resources Updates Drill Results on its Lajitas Project in Chile

Vancouver, B.C., May 11, 2010 ? CAPELLA RESOURCES LTD. (TSX-V: KPS) (?Capella? or the ?Company?) is pleased to announce assay results on its final five drill holes of 2009-2010 drill season from its 100% owned Lajitas Project in Chile. Continuous gold mineralization of 170 meters @ 0.56 grams per metric ton (?g/t?) gold and 178 meters @ 0.49 g/t gold were encounter in drill holes LJ10024r and LJ10027r, respectively (Table 1).  

LJ10024r was drilled on the southwest corner of the Lajitas gold zone 50 meters south of drill hole LJ10021r (highlighted in a News Release dated March 16, 2010).  LJ10027r was drilled on the southeast side of the Lajitas gold zone 100 meters northeast of LJ10022r (highlighted in a News Release dated March 16, 2010).

LJ10023r tested a magnetic anomaly 400 meters to the west of the Lajitas zone, but unfortunately the drill hole encountered problems and was not completed to the target depth of 300 meters.  LJ10026r was drilled 400 meters to the east of the Lajitas zone encountering weak gold mineralization.  The upper portion of LJ10024r was drilled in a post mineral intrusive dike penetrating into mineralized diorite porphyry at 224 meters.

Table 1: Detailed drilling results from this press release are summarized as follows:

Hole ID

From (m)

To (m)

Interval Length (m)

Gold (g/t)

Total Length (m)

Status

Zone

LJ10023r

 

 

 

nil

162

Final

Oxide

 

 

 

 

 

 

 

 

LJ10024r

224 

246 

 22

0.52

246

Final

Oxide

 

 

 

 

 

 

 

 

LJ10025r

6

176

170

0.56

300

Final

Oxide

 

 

 

 

 

 

 

 

LJ10026r

 

 

 

nil

300

Final

Oxide

 

 

 

 

 

 

 

 

LJ10027r

 122

300 

178 

0.49

300

Final

Oxide

 

 

 

 

 

 

 

 

Intercepts not calculated using a gold cut-off.

The Lajitas gold zone has been extended during the 2009-2010 field season to approximately 275 meters from north to south, 300 meters from east to west, and to a vertical depth of 250 meters.  This season?s drill program was completed in early April 2010. The gold mineralization noted in this release is hosted in altered diorite porphyry.

Brian Cole, P. Geo., has reviewed the technical disclosure contained in this news release and is a Qualified Person within the meaning of National Instrument 43-101 ? Standards of Disclosure for Mineral Projects. The reader is directed to the Company?s website at www.capellaresources.com where a presentation on the Lajitas gold project provides additional information regarding this release.

 

About Capella Resources Ltd.

 

Capella Resources Ltd. is a publicly traded, junior exploration and mineral development company with a strong portfolio of precious and base metal projects in Chile, USA and Atlantic Canada.  The Company has a 100% interest in the Lajitas and Nevada gold-copper properties located in the Maricunga Gold and Copper District and approximately 700 kilometres northwest of Santiago, Chile.  The properties comprise ten exploration claims and six exploitation claims totalling a cumulative 3,500 hectares in area.  The Company holds a 100% interest in the Tinton Gold Project located 15 kilometres west-northwest of the famous and historic Homestake Mine in the Black Hills at Lead, South Dakota.  The Tinton property consists of 1,270 hectares contained in 157 unpatented mining claims.

The Company also holds 3839 mineral exploration claims covering an aggregate land area of over 71,558 hectares in Atlantic Canada (Nova Scotia, New Brunswick and Newfoundland and Labrador).

 

CAPELLA RESOURCES LTD.
per: ?Richard Bachman?

Richard Bachman, Chief Executive Officer, President & Chief Geological Officer

For further information, please contact:
Capella Resources Ltd.
Graham Johnstone

1-778-331-2023

Toll Free: 1-877-321-7474
Email:
info@capellaresources.com

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company?s actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company?s filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

 

Data and Statistics for these countries : Canada | Chile | All
Gold and Silver Prices for these countries : Canada | Chile | All

Capella Resources Ltd.

PRODUCER
CODE : KPS.V
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Capella Res. is a silver and gold exploration company based in Canada.

Capella Res. holds various exploration projects in Chile.

Its main asset in production is MARICUNGA in Chile and its main exploration properties are TINTON, NEVADA and LAJITAS in Chile and HARVEY in Canada.

Capella Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.5 millions as of today (US$ 2.5 millions, € 1.9 millions).

Its stock quote reached its lowest recent point on September 12, 2003 at CA$ 0.01, and its highest recent level on September 08, 2006 at CA$ 9.90.

Capella Res. has 81 975 000 shares outstanding.

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Project news of Capella Resources Ltd.
6/22/2010(Nevada)Reports on Trench Sampling
5/11/2010(Lajitas)Updates Drill Results
1/29/2010(Lajitas)Intersects 318 Meters of Gold at .68 g/t on its Lajitas Proj...
Corporate news of Capella Resources Ltd.
7/20/2011Announces Memorandum of Understanding
6/22/2011Identifies New Copper-Gold Porphyry Targets on its Peru Prop...
6/9/2011(Lajitas)Discovers Two New Mineralization Zones at Lajitas
6/1/2011Announces Airborne Geophysical Survey at El Rojo and Habaner...
3/16/2011Announces Royalty Reduction Agreements
2/24/2011AM Gold and Capella Announce Termination of Letter of Intent
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