Canplats drills 292 m 1.16 g/t Au and 11.65 g/t Ag
2008-06-05 07:22 ET - News Release
Mr. R.E. Gordon Davis reports
CANPLATS RESOURCES CORPORATION: CAMINO ROJO DIAMOND DRILLING FURTHER EXPANDS HIGHER-GRADE MINERALIZATION AT REPRESA
Canplats Resources Corp. has released the results of a further four diamond drill holes completed in the Represa zone of the Camino Rojo project in the state of Zacatecas, Mexico.
Diamond drill hole CRD-12, collared 70 metres to the southeast of previously announced drill hole CR-59, intersected strong sulphide mineralization to significant depths along the southwestern extension of the Represa zone. This hole returned 292.00 metres averaging 1.16 grams gold per tonne, 11.65 grams silver per tonne, 0.07 per cent lead and 0.40 per cent zinc, including 93.00 metres averaging 2.05 grams gold per tonne, 20.57 grams silver per tonne, 0.13 per cent lead and 0.84 per cent zinc. These intersections extend well below the previously reported higher-grade intersections in reverse-circulation drill holes CR-56, CR-57 and CR-59. Other diamond drill holes have confirmed continuity and extended the Represa zone mineralization to depth.
Drill results are summarized in the attached table.
Hole From To Interval(i) Gold Silver Lead Zinc
No. (metres) (metres) (metres) (g/tonne) (g/tonne) (%) (%)
CRD-10 3.05 469.75 466.70 0.82 18.19 0.25 0.56
incl. 3.05 196.00 192.95 0.95 28.15 0.38 0.60
CRD-11 12.00 420.00 408.00 0.63 13.51 0.17 0.51
incl. 118.00 230.00 112.00 1.49 24.27 0.22 0.80
CRD-12 138.00 165.50 27.50 2.24 16.85 0.17 0.17
274.00 566.00 292.00 1.16 11.65 0.07 0.40
incl. 326.00 419.00 93.00 2.05 20.57 0.13 0.84
CRD-13 78.00 580.40 502.40 0.46 8.68 0.13 0.33
incl. 277.20 344.80 67.60 0.67 15.87 0.34 0.61
(i) True width to be determined.
The company has commenced a program of reconnaissance-style tensor IP geophysical surveys to the southwest and southeast of the Represa-Don Julio zones. This program will be expanded to areas of favourable alteration associated with at least three regional magnetic features that may represent covered intrusive centres. One of these areas, known as Camino Rojo Dos, is situated 20 kilometres to the west-southwest of the Represa zone, and was discovered through similar surface prospecting methods to the Camino Rojo discovery. In both cases, red hematitic crushed rock was being used as local road fill and traced back to nearby bedrock sources. Initial sampling of limited rock exposures at Camino Rojo Dos has returned low gold values, however, the alteration and structural setting suggests that it may be situated in close proximity to a sizable mineral system.
The company has also recently acquired additional concessions to the immediate west and southwest of the Camino Rojo property, expanding the total project size to 340,000 hectares (more than 1,300 square miles).
Four drills continue to delineate and test for extensions of the Represa zone mineralization along strike and to depth. Drilling is currently following up recently announced extensions of the Represa zone mineralization to the west-southwest and east-northeast. In addition, diamond drilling has commenced at the Don Julio zone to test below and adjacent to favourable alteration and trace element geochemistry encountered in shallow reverse-circulation drill holes. The company is planning on replacing one reverse circulation drill rig with an additional diamond drill when it becomes available.
The Camino Rojo property is 100 per cent owned by Canplats and located in an area of excellent infrastructure, 50 kilometres to the southeast of Goldcorp's Penasquito mine. Maps of the drill program and reconnaissance targets on the Camino Rojo property will be available at the Canplats website.
All work is being supervised by Ken McNaughton, vice-president, exploration, and a qualified person as defined by Canada's National Instrument 43-101, responsible for the Camino Rojo exploration program and has verified the data in the attached table. All samples were submitted for preparation in Guadalajara, Mexico, and analysis at its facilities in Vancouver, B.C., by ALS Chemex. All samples were analyzed using aqua-regia digestion with ICP finish. All gold samples were fire assayed with an AA finish and all samples over 10 parts per million gold were reassayed using a fire assay with a gravimetric finish. Samples over 100 parts per million silver were reanalyzed using four-acid digestion with an ore grade AA finish. One in 20 samples was blind duplicate assayed at ALS Chemex in Vancouver, B.C.
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