Chapleau Discovers Additional Gold Zones at Coringa in Brazil and an 860 Line-km Electromagnetic Survey Will Commence in August
CRANBROOK, BRITISH COLUMBIA–(EMWNews – July 24, 2008) – Chapleau Resources Ltd. (TSX VENTURE:CHI) has completed the regional pan concentrate sampling of streams to the west and southwest of the principal 10 km of gold mineralized structures at the Coringa gold project in Brazil. Geochemical results received from the pan concentrate sampling have confirmed anomalous gold values ranging from 3 to 150 g/t gold which define at least 3 additional potential sources of gold over an area of 20 sq km (see maps on website: www.chapleauresources.com/projectmaps.php?ID=11). Further follow-up exploration to more accurately define the sources of gold mineralization is currently underway.
A time domain electromagnetic (EM) geophysical survey of 860 line-km will also be flown in August, 2008 to cover all identified pan concentrate and gold in soil anomalies both at Coringa and Mato Velho. The EM survey will be done to enhance and delineate future drill targets on the 31,995 ha of claims (see maps on website: www.chapleauresources.com/projectmaps.php?ID=11).
Regional pan concentrate sampling of streams, limited follow-up soil sampling and the 3,139.68 line-km airborne magnetic, gradiometric and radiometric geophysical survey flown over the area in 2007, have been very successful in expanding the gold potential of the Coringa-Mato Velho gold camp. Beyond the original 10 km of gold mineralized structures and 4.5 km of artisanal gold workings at Coringa and Mato Velho an additional 13 km of unexplored gold targets at Coringa and at least 2 km of additional gold mineralization at Mato Velho have been identified.
Ian Gendall (President) commented: “We are extremely encouraged with the results from the regional reconnaissance program and are looking forward to the results of the helicopter borne electromagnetic survey to extend our drill targets beyond the initial drill tested areas. The discovery of additional gold-bearing parallel structures demonstrates the potential for multiple mineralized zones at Coringa. A 7,000 m drill program will commence in August and two drill rigs will be on site until 2009”.
Pan concentrate samples were sent via a secure transport agency to the SGS Geosol laboratory in Itaituba in Brazil for preparation and the pulps sent directly to the SGS Geosol laboratory in Belo Horizonte and Vespasiano for analysis. Gold analysis was by fire assay of a 30 g sample and an atomic absorption finish. Silver and additional 32 elements using aqua regia acid digestion were analyzed by Inductively Coupled Plasma (ICP). As part of the Company’s QA/QC program duplicates, blanks and internationally recognized standards were included in the sample batches to check on assay precision and accuracy. SGS Geosol, which is an ISO, 9001:2000 and ISO 14001: 2004 registered laboratory also has a quality control program in place, which includes standards and duplicates.
This press release was prepared by Ian Gendall, Pr. Sci. Nat., a qualified person in compliance with National Instrument 43-101.
BY ORDER OF THE BOARD OF DIRECTORS
CHAPLEAU RESOURCES LTD.
Ian Gendall, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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