mineral exploration and development
Romania, Hungary & Brazil - N.I. 43-101, 5.09 M oz & inferred 5.66 M oz of Gold plus 175.0 M lbs of Copper .
Message: Intersects 16 m of 3.96 g/t Au, Including 2.8 m of 18.45 g/t Au on the RDM Gold
| January 12, 2009 |
| Carpathian Drilling Intersects 16 m of 3.96 g/t Au, Including 2.8 m of 18.45 g/t Au on the RDM Gold Project, Brazil |
| TORONTO, ONTARIO--(Marketwire - Jan. 12, 2009) - Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is pleased to announce further drill results from the 100% owned Riacho dos Machados gold project ("RDM") located in Minas Gerais State, Brazil. This project was acquired by Carpathian in October, 2008 (see press release dated Oct. 30, 2008) and a diamond drill program was completed in late 2008 consisting of 64 drill holes totaling 11,277 m. The first set of results from this program was released in November (see press release dated Nov. 4, 2008) and the results presented herein are from an additional 35 drill holes along with re-sampling results from 9 diamond drill holes completed by the previous operator, Companhia Vale do Rio Doce, ("Vale") prior to 1996. Drill results from the current program have encountered strong gold mineralization below the existing shallow open-pit (maximum 60 m) which, in addition to confirming historical drill results from Vale, highlights significant widths of gold mineralization occurring immediately below the present open-pit as shown in drill hole FRM-12 which intersected 30.0 m at 2.01 g/t Au. In addition, drill results have extended the gold mineralization 500 m south of the existing open pit. Based on the recently completed assays, highlight intersections recently received are listed below. All of these results represent the portion of the mineralized zone that is considered to be accessible through the deepening of the open-pit. A complete list of the assay results can be found at the end of this press release. A map showing the location of the drill holes completed can be found on the Corporation's website at www.carpathiangold.com. i) North Pit Area (known as Area V) - 30.0 m at 2.01 g/t Au including 4.3 m of 7.68 g/t Au (hole FRM-12) - 7.2 m of 3.61 g/t Au & 11.6 m of 2.14 g/t Au (hole F-75, re-sample drill core from Vale program) - 15.6 m of 2.53 g/t Au including 4.9 m of 6.36 g/t Au (hole F-101, re-sample drill core from Vale program) ii) Central Pit Area (know as Area IV) - 14.1 m at 1.28 g/t Au including 2.5 m of 2.51 g/t Au (hole FRM-30) - 12.8 m at 2.09 g/t Au including 2.0 m of 9.33 g/t Au (hole FRM-32) - 6.9 m at 3.50 g/t Au including 3.0 m of 7.66 g/t Au (hole FRM-35) - 9.8 m of 1.65 g/t Au including 2.7 m of 3.42 g/t Au (FRM-27) iii) South Pit Area (known as Area III) - 13.9 m at 3.66 g/t Au including 4.6 m at 9.25 g/t Au (hole FRM-26) - 23.5 m at 1.23 g/t Au including 9.4 m at 2.53 g/t Au (hole FRM-31) - 16.0 m at 3.96 g/t Au including 2.8 m of 18.45 g/t Au (hole FRM-33) - 10.2 m at 3.75 g/t Au including 3.7 m of 5.64 g/t Au (hole F-103, re-sample drill core from Vale program) iiii) Southern Extension Mineralization (south of the open pit) - 6.4 m at 1.40 g/t Au (FRM-18) - 4.6 m at 1.54 g/t Au (FRM-14) - 4.8 m at 1.93 g/t Au (FRM-4) Notes: Widths are approximate true thicknesses. "We are encouraged by these results which continue to support management's vision of near-term production potential for the RDM Project", said Dino Titaro, President and CEO. "These results confirm the Vale data and our expectation that RDM could contain significantly more gold resources than that indicated from the historic Vale information. Ongoing work includes geologic modeling for a NI 43-101 compliant resource estimate to be followed by a preliminary economic assessment and feasibility study for a staged development of the deepening of the open-pit followed by a future underground operation. Given that the project already lies within a brownfield permitted Mining Concession with infrastructure in place, we believe an early-production profile can potentially be realized and have commissioned EIA and SIA studies." The drill program completed in the fourth quarter of 2008 focused on the area of the previous open-pit operation along the known 1,350 m long gold zone and down to a vertical depth of approximately 200 m below the existing open-pit. In addition, the drill program also evaluated the possible southern extension of this gold zone by an additional 500 m. In 1996, the previous operator Vale, defined a 'historical resource' (non NI 43-101 compliant) of un-oxidized gold mineralization below the shallow open pits which mined oxide gold mineralization (see press release dated Nov. 4, 2008 and NI 43-101 Technical Report on the property dated February 29, 2008 and filed on www.sedar.com). Along with this drill program, re-sampling of several of the diamond drill holes completed on the property by Vale has been completed for verification purposes. The primary objective of this program is to obtain sufficient drill data to validate previous drill results, extend the gold zone along strike and define sufficient mineralization at an open-pit gold grade to justify deepening the current open-pit by approximately 200 m. The gold mineralization at RDM is shear zone hosted, within a package of Precambrian aged metamorphic rocks. This shear zone strikes 20 degrees and dips 40 to 50 degrees west. The gold mineralization is known to be continuous over a strike length of 1,350 m and is open at depth to greater than 550 m at the RDM mine-site. The current drilling program has demonstrated that this mineralization is now continuous for a strike length of at least 2,000 m. Within the shear zone, which can reach thicknesses of up to 40 m, the gold mineralization often occurs as "stacked mineral zones" with cumulative thicknesses in the order of 15 to 20 m. Recent results continue to support the presence of these "stacked zones" and include drill hole intersections such as F-75 from Area V where the overall thickness of the shear zone is 47 m which includes 2 distinct gold mineralized zones totaling 18.8 m at a weighted average of 3.04 g/t Au. These stacked mineralized intersections all occur within the area being tested for purposes of deepening the existing open-pit. |
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