Kinbauri drilling returns 19.6 grams gold over 26.7 metres

The latest assays from Kinbauri Gold‘s (KNB-V) infill drill program at the El Valle mine in Spain show high-grade mineralization that could extend the Black Skarn zone, possibly linking it up with the Monica epithermal zone.

The hole that tells all returned 79.6 metres grading 8.02 grams gold per tonne 39 grams silver and 1.5% copper, including 26.7 metres grading 19.6 grams gold, 69.9 grams silver and 2.6% copper, including 1.25 metres grading 162.3 grams gold, 516 grams silver and 13.4% copper.

Kinbauri president, Vern Rampton, says the results show potential for a significant increase in the gold and copper resources.

“If the high-grade phase of Black Skarn North continues to the east and south, this will add even more ounces to those previously anticipated,” Rampton said in a statement.

Other holes that have been drilled in the area show similar thicknesses and mineralization but the assays have not been received yet, the company says. The mineralized body is thought to be about 20 metres thick and 100 metres wide around sections 11 and 12, which are open to the east and the south.

The last resource estimate for the Black Skarn zone and Area 107, released in January, put indicated resources at 1.7 million tonnes grading 5.38 grams gold per tonne and 0.79% copper for 296,000 oz. gold and 12,500 tonnes copper.

Inferred resources stand at 2.9 million tonnes grading 6.68 grams gold per tonne and 0.55% copper for 626,000 oz. gold and 16,100 tonnes copper.

Kinbauri has also been drilling at the Carles North zone of the Carles mine.

Highlights include 16.6 metres grading 3.10 grams gold per tonne, 11.3 grams silver per tonne and 0.42% copper. Another hole returned 10.25 metres grading 22.7 grams gold per tonne 4.5 grams silver and 0.62% copper.

Drilling so far shows continuity of the Carles North skarn copper-gold mineralization at depth mineralization extended as deep as 125 metres.

Kinbauri is now determining the cost of a short decline extending to 250 metres depth to access Carles North at a further 200 metre down dip to assess the full potential of the zone.

Kinbauri shares increased 3 today to 88 apiece on a trading volume of 789,000 shares.