Thursday, 8th May 2008 (632 views)

Underground drilling at the El Valle project in north-west Spain has intercepted new gold mineralisation, the company developing the site has said.

Kinbauri Gold said nine drill holes were completed in the latest round of work, with gold strikes recorded in the Area 107 and Black Skarn North (BSN) zones.

Highlights of assay returns for these areas include gold grades of 4.42 g/t gold over 15.8 metres, 2.45 g/t gold over 21.5 metres and 2.25 g/t gold over 28.4 metres.

Additional returns were graded at 2.64 g/t gold over 17.95 metres and 2.29 g/t gold over 19.7 metres and 2.19 g/t gold over 15.55 metres, the company said.

It added that the drilling represents "excellent results" from both the Area 107 and BSN zones, while also demonstrating "good continuous substantial thicknesses" of mineralisation in the BSN.

Kinbauri acquired the El Valle project in March 2007 as part of a parcel of properties located within the Rio Narcea gold belt. These included the El Valle mine and mill, the Carles mine and two exploration properties - La Brueva and Ortosa/Godan.

 

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