Lero Gold Corp. Reports Significant Intersections at its Taldybulak-Talas Copper-Gold Project, Kyrgyzstan
May 20 2008 - 12:41PM
Marketwired
LONDON, UNITED KINGDOM (TSX VENTURE: LER) is pleased to announce
an update of ongoing work at the Taldybulak-Talas Cu-Au porphyry
project, northwest Kyrgyzstan.
Following the 2007 drill programme, Lero completed an additional
diamond drill hole located 200m to the west of TBDD07-07 to test
the extension of the previously delineated high grade core in the
Taldybulak Central zone.
TBDD07-24 was drilled in a north eastern direction to a depth of
405m and intersected strongly potassic-altered stockworked porphyry
from 70m below surface to the end of hole. The start of alteration
is consistent with that previously intersected in TBDD07-07 and
indicates that the high grade mineralisation is plunging to the
west, as modelled from previously interpreted geophysics and the
recently completed resource estimate.
The 2007 drill programme has now been completed and all assays
received. The design of infill, step-out and exploration drilling
programmes for Taldybulak Central has commenced with drilling
forecast to begin in Q2 2008.
Significant intersections include:
----------------------------------------------------------------------
Hole-ID From (m) To (m) Length Au (g/t) Cu(%) Area
----------------------------------------------------------------------
Taldybulak
TBDD07-24 72.8 405.0 332.2 0.69 0.14 Central West
----------------------------------------------------------------------
(i)including
----------------------------------------------------------------------
TBDD07-24 158.6 405.0 246.4 0.89 0.14
----------------------------------------------------------------------
(i) Au Values un-cut
A continuous zone of significant copper-gold mineralisation
hosted in a quartz dacite porphyry with dimensions of 1,000m
(strike) by up to 350m (width) and 500m (depth) has now been
delineated at Taldybulak Central. The higher grade intercepts in
TBDD07-24 coincide with an extensive zone of potassic-hematite
altered porphyry, as previously intercepted in TBDD07-07. This
result enlarges a higher grade core in the western part of
Taldybulak Central. Mineralisation at Taldybulak Central remains
open at depth and along strike to the west.
The Taldybulak-Talas Cu-Au porphyry prospect is located within
the prolific Tien-Shan Gold Belt which is host to some of the
world's largest copper-gold porphyries including a 93Moz porphyry
cluster at Almalyk in Uzbekistan.
CEO of Lero, Dr Alexander Yakubchuk commented:
"In addition to the Taldybulak resource calculation announced in
April 2008, these positive results have extended the known
mineralisation at Taldybulak Central. TBDD07-24 was the second best
hole of the 2007 programme and was drilled outside the recently
reported resource envelope. The results demonstrate that the
porphyry remains mineralised for an additional 200m along strike to
the west, giving Lero significant impetus to expand the reported
resource at Taldybulak Central."
Notes to Editors:
1. Lero Gold Corp. (TSX VENTURE: LER) is a base and precious
metal exploration company led by a senior management team with
extensive expertise in mineral exploration and advanced project
management. In July, 2006 Oriel Resources Plc completed its
previously announced transfer and sale of its gold related assets
into Lero Gold Corp. ('Lero') (formerly ELE Capital Corporation -
'ELE'). Lero resumed trading on TSX Venture Exchange (TSX-V) on
Thursday July 27, 2006 under the trading symbol "LER". Lero Gold is
currently seeking and evaluating advanced exploration stage gold
and base metal projects in Kazakhstan, Kyrgyzstan and Russia. The
Company is currently exploring advanced staged gold deposits in the
Tien Shan gold belt in the Kyrgyz Republic and Rudny Altai
polymetallic belt in Kazakhstan.
2. All work carried out on site was reviewed by Matthew Boyes
(Senior Geologist and a Qualified Person under National Instrument
43-101). Assays were conducted at the internationally certified
Alex Stewart Assayers Lab in Kara-Balta, Kyrgyzstan. Lero Gold
Corporation operates a stringent QA/QC policy that includes
external certified standard samples and duplicates in each
individual batch sent for analysis.
3. For avoidance of confusion;
a. The Taldybulak-Talas copper gold porphyry is a separate
deposit from the Taldybulak Levoberezhny gold deposit previously
owned by Central Asia Gold Limited, and
b. The Talas Copper Gold Limited Liability Company, the holder
of the Lero owned Taldybulak licence, is a separate company from
Talas Gold Mining Company which was the owner of the Jerooy Gold
project.
4. In November 2006, Lero granted Gold Fields Exploration B.V.
an option to enter into a joint venture agreement with the Company
under which Gold Fields Exploration B.V. has the right to;
a. earn up to a 60% interest in exploration licences on the
Kentash, Taldybulak and Korgontash tenements in the Talas Region by
funding exploration expenditures of up to CAD$10 million, and
b. increase its interest in the project by a further 10% (to a
total of 70%) by funding the expenditure of up to a further CAD$10
million on a feasibility study. Thereafter, Gold Fields Exploration
B.V. and Lero will contribute to the project requirements on a
pro-rata basis through to development, if appropriate.
5. Gold Fields Exploration B.V. is an indirect wholly owned
subsidiary of Gold Fields Limited (NYSE: GFI)(JSE: GFI)(DIFX:
GFI)
6. The TSX Venture Exchange does not accept responsibility for
adequacy or accuracy of this release.
The TSX Venture Exchange does not accept responsibility for
adequacy or accuracy of this release.
Contacts: Lero Gold Corporation Dr Alexander Yakubchuk CEO +44
(0) 20 7514 0590 Lero Gold Corporation Gavin Dallas Marketing and
PR +44 (0) 20 7514 0590 Website: www.lerogold.com Vanguard
Shareholder Solutions Keith Schaefer (604) 608-0824 Bankside
Consultants Michael Padley / Michael Spriggs +44 (0) 20 7367
8888
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