Kinbauri Engages Scott Wilson Roscoe Postle Associates for Scoping Study at El Valle/Carles
June 27 2008 - 12:37PM
Marketwired
OTTAWA, ONTARIO (TSX VENTURE: KNB)(FRANKFURT: 3KG.DE) is pleased
to announce the engagement of Scott Wilson Roscoe Postle Associates
("SWRPA") under the direction of Mr. James W. Hendry, P. Eng., to
complete a N.I. 43-101 compliant economic assessment ("Scoping
Study"), for the El Valle and Carles mines in northwestern Spain.
The Scoping Study will commence immediately with delivery of a
final report in September 2008. In addition to SWRPA, contributors
to the Scoping Study will include McIntosh Engineering (mine design
and costing) of North Bay Canada, Golder and Associates of Toronto,
Ontario (rock mechanics and mine hydrology), Ore Reserves
Engineering (modelling and resource calculations and
classifications) of Lakewood, Colorado. It is expected, subject to
favourable results from the Scoping Study, that a Feasibility Study
will then be completed, with delivery of the feasibility study
targeted for Q1 of 2009.
The Scoping Study will focus, but not be limited, to the Black
Skarn North and Area 107 zones at El Valle where 1,713,000 tonnes
of indicated resources with average grades of 5.4 g/t Au and 0.79%
Cu plus 2,912,000 tonnes of inferred resources with grades of 6.68
g/t Au and 0.55% Cu were estimated for those zones on January 17,
2008 by Ore Reserves Engineering in a N.I. 43-101 compliant report
filed on Sedar. This equates to an estimated 297,000 ounces of gold
and 29,700,000 pounds copper indicated plus 625,000 ounces of gold
and 35,500,000 pounds of copper inferred for Area 107 and BSN. A
23,000 metre in-fill program focused solely on Black Skarn North
and Area 107 is near completion and is expected to up-grade and add
to the resource within Black Skarn North and Area 107.
Total resources for El Valle and Carles were estimated on
January 17, 2008 by Ore Reserves Engineering at 4,200,000 tonnes of
indicated resource with an average grade of 5.4g Au/t and 4,100,000
tonnes of indicated resource with average grade of 1.0% Cu(1) and
4,459,000 tonnes of inferred resource at an average grade of 6.7g
Au/t and approximately 0.56% Cu(2). This equates to an estimated
725,200 ounces of gold and 87,100,000 pounds copper indicated plus
964,000 ounces of gold and 50,000,000 pounds of copper inferred. It
is estimated that the mill at El Valle, which was put on care and
maintenance in December, 2006, will be utilized, with up-grades, to
process ore to be mined at El Valle and Carles (present rated
capacity of 2,000 tonnes per day).
(1) 0.97% Cu for 4,054,000 tonnes resource, copper resource and
grade is not estimated for 105,000 tonnes resource.
(2) 0.56% Cu for 4,074,000 tonnes resource, copper resource and
grade is not estimated for 1,283,000 tonnes resource.
Kinbauri Espana's senior geologist, Santiago Gonzalez-Nistal and
Dr. C. F. Gleeson, P. Eng. Kinbauri's Vice-President of
Exploration, both qualified persons as defined by N.I. 43-101, have
been responsible for Kinbauri's exploration and in-fill drill
programs and quality control at El Valle and Carles. This press
release has been prepared by Dr. V. N. Rampton, P. Eng in his
capacity as a qualified person.
About Kinbauri
Kinbauri is a TSX VENTURE - 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 49,567,013 common shares issued and outstanding.
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.
VISIT:
Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where
investors can post questions and receive answers or review
questions and answers already posted by other investors.
Kinbauri Web-Site: www.kinbauri-gold.com
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.
Contacts: North America Kinbauri Gold Corp. Darrell Munro, BB.A,
LL.B Manager Corporate Communications 613-836-0198
dmunro@kinbauri-gold.com Kinbauri Gold Corp. Dr. Vern Rampton, P.
Eng. President 613-836-2594 kinbauri@kinbauri-gold.com Kinbauri
Gold Corp. Dr. Chris Gleeson, P. Eng. Vice-President Exploration
613-652-4594 cgleeson@kinbauri-gold.com www.kinbauri-gold.com
Europe INVESTEL Ruediger (Rudy) Hnyk CEO Investor Relations &
Telecommunications ceo@investel.de
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