Monday, 28th April 2008 (789 views)

Underground drilling at the El Valle property in north-west Spain has returned high-grade gold intercepts, the company carrying out the work has said.

Kinbauri Gold reported that the 23,000-metre programme had made a number of gold strikes in the zones designated as Area 107 and Black Skarn North. Assays from 11 completed holes have been returned so far, it added.

Among the highlights of samples tested to date were gold values of 23.4 g/t gold over 4.45 metres, 12 g/t gold over 4.7 metres and 9.0 g/t gold over 7.5 metres.

There were also intercepts graded at 10.32 g/t over 15.65 metres, 7.4 g/t over 9.4 metres and 4.08 g/t gold across 27.75 metres.

Kinbauri said the mineralisation encountered so far indicates a continuation of "enhanced" metal values where the Area 107 zone intersects Black Skarn North. According to the company, this could lead to a "potentially significant increase" in the total resources for the Area 107 zone.

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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