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Kinbauri Gold Corporation

Publié le 20 juin 2008

Drilling Extends High Grade Skarn at Kinbauri's El Valle Project

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SYMBOL: KNB     EXCHANGE: TSX-V

 


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.

Click Here to Sign Up for Press Releases

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

 

 

 

DISCLAIMER

 

 

 

 

 

 

Calico Communications & CG

 

 

 

 

 

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Kinbauri Gold Corporation

CODE : KNB.V
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Kinbauri Gold est une société d’exploration minière d'or basée au Canada.

Kinbauri Gold détient divers projets d'exploration en Espagne.

Son principal projet en exploration est CORCOESTO en Espagne.

Kinbauri Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 36,1 millions CA$ (34,4 millions US$, 23,4 millions €).

La valeur de son action a atteint son plus haut niveau récent le 28 mars 2008 à 1,11 CA$, et son plus bas niveau récent le 24 octobre 2008 à 0,16 CA$.

Kinbauri Gold possède 48 722 000 actions en circulation.

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Financements de Kinbauri Gold Corporation
11/06/2009$1,000,000 Non-Brokered Private Placement
21/05/2009Proposed closing of private placement
20/02/2009Private Placement
30/09/2008EXTENDS WARRANTS
Nominations de Kinbauri Gold Corporation
31/08/2009New Directors Appointment To Kinbauri's Board
15/12/2008Appoints Financial Advisor to Assist in Strategic Planning
Projets de Kinbauri Gold Corporation
29/05/2009(El Valle (carles))Receives validation of revised mine plan from independent co...
05/03/2009FINAL SCOPING STUDY REPORT
12/02/2009(El Valle (carles))SCOPING STUDY REVISION BOOSTS ECONOMICS FOR EL VALLE/CARLES ...
09/02/2009(El Valle (carles)) SCOPING STUDY DETERMINES ROBUST ECONOMICS FOR EL VALLE/CARL...
22/01/2009(El Valle (carles))EL VALLE RESOURCES INCREASED BY ADDITIONAL 153,519 OZ. GOLD
29/07/2008CUTS HIGH GRADE GOLD AT EL VALLE
27/06/2008(El Valle (carles))ENGAGES SCOTT WILSON ROSCOE POSTLE ASSOCIATES FOR SCOPING ST...
20/06/2008(El Valle (carles))Drilling Extends High Grade Skarn at Kinbauri's El Valle Pro...
04/04/2008Drill holes
13/03/2008(El Valle (carles))ENGINEERING AND MINE PLANNING UNDERWAY AT KINBAURI’S EL VALL...
10/03/2008(El Valle (carles))Anglo Pacific Group to Provide $7.5M to Kinbauri in Exchange...
27/02/2008 Drill holes
05/02/2008(El Valle (carles))N. I. 43-101 Technical Report on Kinbauri?s El Valle, Spain
Communiqués de Presse de Kinbauri Gold Corporation
18/08/2009Directors Unanimously Recommend that Shareholders ACCEPT Orv...
13/08/2009Board Issues No Recommendation on Orvana Offer
21/07/2009Shareholders Are Advised To Take No Action At This Time Rega...
30/06/2009Update on Court Hearing
26/06/2009Provides Update on Review of Strategic Alternatives
17/06/2009Provides Update on Court Application and Retains Financial A...
11/06/2009Provides Update on Glen Eagle Transaction
04/06/2009Update on Glen Eagle transaction
26/05/2009Advised To Take No Action At This Time Regarding Orvana’s Un...
22/05/2009Update on legal actions
21/05/2009Legal Actions Against the Company
13/05/2009Provides clarification on glen eagle investment
13/05/2009Sign definitive agreement with Glen Eagle
17/02/2009Grants Incentive Options
16/12/2008OPTIONS FIEDMONT Pt/Pd PROPERTY TO PACIFIC NORTH WEST CAPIT...
09/06/2008NETHERY APPOINTED TO KINBAURI?S BOARD
14/05/2008CLOSES ROYALTY AGREEMENT WITH ANGLO PACIFIC
23/04/2008ANNOUNCES $1 MILLION STRATEGIC INVESTMENT
02/04/2008ADOPTS SHAREHOLDER RIGHTS PLAN
11/03/2008NETHERY APPOINTED TO KINBAURI’S ADVISORY BOARD
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