Kinbauri Drills 3.15m Grading 11.6g Au/t and 2.76% Cu, Including 1.5m Grading 19.5g Au/t and 5.1% Cu

2008-04-01 05:00:00

Kinbauri Drills 3.15m Grading 11.6g Au/t and 2.76% Cu, Including 1.5m Grading 19.5g Au/t and 5.1% Cu

OTTAWA, ONTARIO–( EMWNews – April 1, 2008) – Kinbauri Gold Corp. (“Kinbauri”) (TSX VENTURE:KNB)(FRANKFURT:3KG.DE) is pleased to announce the latest results from its on-going 23,000m underground drilling program at El Valle in northwestern Spain. Highlights of the assay results from the 107 Area/Black Skarn North zones include:

– 3.15m grading 11.6g Au/t, 64g Ag/t and 2.76% Cu in DDH 08KV1061 including 1.5m grading 19.5g Au/t, 109g Ag/t and 5.1% Cu

– 3.65m grading 6.2g Au/t and 0.51% Cu and 1.25m grading 16.0g Au/t and 0.15% Cu in DDH 08KV1067

– 19.25m grading 2.5g Au/t and 0.77% Cu in DDH 08KV1070 including 7.25m grading 4.0g Au/t and 1.06% Cu

Results From The In-Fill Drilling: Area 107 and Black Skarn North

The underground infill program continues to generate excellent results, most notably high grade Au and Cu values. Assays as received from a further six diamond drill holes from the in-fill drill program are summarized as follows:



HOLE From To Interval %(2) Au Ag Cu Zone/
(DDH)(1) (m) (m) (m) (g/t) (g/t) (%) Section(3)
08KV1061 140.50 143.65 3.15 84 11.55 64 2.76 107W1125
including 140.50 142.00 1.50 " 19.50 109 5.11
08KV1061 155.20 156.85 1.65 " 3.60 4 0.02
----------------------------------------------------------------------
08KV1064 No Intercepts greater " BSN West
than 2 g/t Au eq
----------------------------------------------------------------------
08KV1066 50.35 53.50 3.15 60 1.45 6 0.69 BSN/10.5
08KV1066 56.40 82.35 25.95 " 1.72 8 0.50
Including 56.40 57.90 1.50 " 3.10 17 2.72
Including 73.05 82.35 9.30 " 2.27 14 0.58
----------------------------------------------------------------------
08KV1067 53.70 56.20 2.50 97 1.76 13 0.59 BSN/1025
08KV1067 65.35 66.60 1.25 " 15.99 11 0.15
08KV1067 73.35 79.60 6.25 " 4.72 16 0.51
Including 73.35 77.00 3.65 " 6.16 19 0.51
08KV1067 87.30 92.40 5.10 " 4.15 10 0.81
----------------------------------------------------------------------
08KV1069 70.95 95.65 24.70 40 2.00 13 0.62 BSN/10.5
Including 79.00 83.10 4.10 " 3.33 24 0.00
Including 85.40 86.25 0.85 " 8.48 53 2.84
Including 88.80 91.30 3.10 " 2.52 15 1.11
----------------------------------------------------------------------
08KV1070 54.85 74.10 19.25 85 2.54 12 0.77 BSN/1025
Including 59.45 66.70 7.25 " 4.09 15 1.06
Including 63.85 65.50 1.65 " 9.06 27 1.43

(1) See Schedules A and B for Location. (2) % value gives estimate of True
Thicknesses. (3) 107W is Area 107 West and BSN is Black Skarn North

 

Thick skarn sections continue to be intersected in both the Central and East Areas of Black Skarn North; high grade gold intervals reflect the intersection of epithermal structures with the skarn.

Results From Area 208 Exploration Drilling

Results have also been received from the last hole (07VAL236) drilled on the eastward extension of Area 208. The hole intersected several oxidized and silicified zones, being characterized by jasperoid, jasperoid breccias and silicified dolomites, which generally host gold. Resources for Area 208 are currently included in those determined for the East Breccia, which appears to be a northern extension of Area 208. Results from 07VAL236 are listed below:



----------------------------------------------------------------------
HOLE From To Interval Au Ag Cu
(m) (m) (m)(1) (g/t) (g/t) (%)
----------------------------------------------------------------------
07KVAL236 120.45 124.2 3.75 5.58 less than 0.012
1.99
Including 120.45 122.45 2 8.56 less than less than
1.99 0.01
----------------------------------------------------------------------
07KVAL236 134.95 136.95 2 4.93 less than 0.01
1.99
----------------------------------------------------------------------
07KVAL236 142.2 143.75 1.55 0.05 less than 0.84
1.99
----------------------------------------------------------------------
07KVAL236 151.6 162.45 10.85 2.38 2.28 0.02
Including 151.60 154.70 3.10 5.28 2 0.02
----------------------------------------------------------------------
07KVAL236 169.95 172.00 2.05 4.05 less than 0.02
1.99
----------------------------------------------------------------------
07KVAL236 215.15 221.80 6.65 2.90 less than 0.01
1.99
Including 219.90 221.80 1.9 7.30 less than 0.01
1.99
----------------------------------------------------------------------
07KVAL236 256.40 257.65 1.25 1.21 6 1.54
----------------------------------------------------------------------
07KVAL236 260.50 261.25 0.75 3.22 14.00 5.12
----------------------------------------------------------------------
07KVAL236 273.65 277.35 3.70 1.86 5.41 1.20
----------------------------------------------------------------------
07KVAL236 284.75 289.30 4.55 2.23 10.34 1.61
Including 284.75 287.10 2.35 3.9 17.68 2.83
Including 285.90 287.10 1.20 6.97 26 3.43
----------------------------------------------------------------------
07KVAL236 292.25 301.00 8.75 0.5 5.15 1.36
Including 293.25 293.55 0.3 3.02 34.00 7.25
----------------------------------------------------------------------

(1) True Thickness cannot be realistically estimated without further drill
confirmation.

 

These results indicate a multiplicity of gold bearing zones and at least two stages of mineralization, one leading to very high copper values, within Area 208; this is the first time that copper sulphides were observed in this area. Additional drilling will be required to determine the continuity of these zones and the total potential of Area 208 and the East Breccia zone; further drilling of these two zones has been deferred until the in-fill program is completed in July.

The drill program is being supervised by Mr. Santiago Gonzalez-Nistral, 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 press release of February 27th, 2008.

This press release was prepared by Dr. V. N. Rampton, P. Eng in his capacity as a qualified person. Dr. Rampton will record a “Beyond The Press Release” on the Company’s official Investor Relations Site at http://www.agoracom.com/IR/kinbauri, where these results will be discussed in detail. The recording is expected to be available on or after April 1st, 2008.

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 44,416,320 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.

Schedules A & B are available on the following address: http://media3.EMWNews.com/docs/KNB_MAP.pdf

For more information, please contact

North America:
Darrell Munro, BB.A, LL.B,
Manager Corporate Communications
613-836-0198
dmunro@kinbauri-gold.com

or

Dr. Vern Rampton, P. Eng.,
President
613-836-2594
vrampton@kinbauri-gold.com

or

Dr. Chris Gleeson, P. Eng.,
Vice-President Exploration
613-652-4594
c.gleeson@persona.ca

or

Europe:
INVESTEL
Ruediger (Rudy) Hnyk, CEO
Investor Relations & Telecommunications
ceo@investel.de

or

Kinbauri Gold’s Hub
http://www.agoracom.com/IR/kinbauri

or

Kinbauri Web-Site
www.kinbauri-gold.com

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