CBG Chibougamau Independent Mines Inc

CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M) ("CBG" or the "Company") and
joint venture partner and operator Heatherdale Resources Ltd. (TSX VENTURE:HTR)
announce that additional intersections of high-grade copper-gold-silver-zinc
mineralization have been encountered in underground drilling at the Niblack
Project in southeast Alaska. The drill program continues to expand a new
precious-metals enriched mineral body recently discovered to the southwest of
the Lookout Deposit; one of six known volcanogenic massive sulphide (VMS)
deposits within the 10 square mile Niblack property.


Assays from the first six holes of an ongoing 25,000-foot drill program have
been received. Results from the first three of these holes were highlighted in
CBG's press release dated December 17, 2009. Important intersections from the
latest three holes are in the Niblack Assay Table 1. A cross section showing the
drill holes is available at www.cbrgoldcorp.com.




                          NIBLACK ASSAY TABLE 1
-------------------------------------------------------------------------
Drill
Hole           From      To  Intercept     Cu     Au     Zn    Ag  CuEQ(1)
Number        (feet)  (feet)     (feet)     %    g/t      %   g/t       %
-------------------------------------------------------------------------
U032          848.0   858.7       10.7   1.51   2.16   2.53    52    4.49
-------------------------------------------------------------------------
U032    and   883.0   896.0       13.0   1.92   3.34   1.21    60    5.15
-------------------------------------------------------------------------
U033A         768.5   950.0      181.5   2.52   4.53   4.68   105    8.45
-------------------------------------------------------------------------
U033A  incl.  832.5   935.8      103.3   3.29   5.43   6.76   127   10.92
-------------------------------------------------------------------------
U033A  incl.  881.0   932.5       51.5   3.93   7.11  10.09   159   14.37
-------------------------------------------------------------------------
U033A  incl.  889.6   910.0       20.4   3.96   8.98  14.95   221   18.30
-------------------------------------------------------------------------
U034          754.8   759.4        4.6   1.15   1.99   4.42    32    4.64
-------------------------------------------------------------------------
U034    and   875.5   933.5       58.0   1.09   1.78   1.48    49    3.35
-------------------------------------------------------------------------
U034   incl.  885.0   898.5       13.5   1.83   2.96   3.90    85    6.25
-------------------------------------------------------------------------
(1) Copper equivalent (CuEQ) calculations use metal prices of
    Cu US$1.85/lb, Au US$800/oz, Ag US$12.75/oz and Zn US$0.80/lb.
CuEQ = Cu % + (Au g/t x 25.72/40.79) + (Ag g/t x 0.410/40.79) + (Zn % x
17.637/40.79).
Metallurgical recoveries and net smelter returns are assumed to be 100%.



The initial six holes (U029 - U034) were drilled in a fan pattern from an
underground set-up designed to cross-cut the mineralized target zone southwest
of the known Lookout Deposit. To date, the true widths of the intersections have
not yet been accurately established. Mineralized intersections in holes U032,
U033A and U034 are located on section, up to 130 feet above and 95 feet below
the intersections encountered in the previously announced holes. The results
from all six holes, as well as the two holes drilled in 2008 (U027 and U028),
are included in the Niblack Assay Table 2 at the bottom.


The Joint Venture has now initiated a second series of underground drill holes,
utilizing a fan drill pattern at stations along the wide open extension of the
newly discovered high-grade mineral body. Hole U035, the first hole in the
second fan, is nearing completion and has intersected massive sulphide
mineralization approximately 100 feet further along strike. Assay results from
holes on this second fan will be released when they are received. In order to
accelerate the drilling program, a second underground diamond drill rig and crew
has been mobilized and is expected to be fully deployed this month.


"The first fan of underground drill holes has certainly demonstrated a
continuity of high-grade, precious-metals enriched VMS mineralization. What's
more exciting is that we haven't yet determined the outer dimensions of this
thick high-grade copper-gold-silver-zinc mineralized body. It is still wide
open," said John Williamson, President and CEO of CBR Gold Corp.


Niblack's location at tidewater on Prince of Wales Island in southeast Alaska
presents a number of project benefits, including year-round marine access, a
well-trained labour force, a mature supply and service sector, proximity to
Asian markets, and the support of community and Alaska Native corporation
partners. The project is located 27 miles (44 kilometres) from Ketchikan, a
community of 8,000 people with important services to support project
development, including a deep water port and international airport. The State's
burgeoning minerals industry also enjoys a competitive tax regime and stable,
predictable permitting and regulatory oversight coordinated by the Alaska
Department of Natural Resources' 'Large Mine Permitting Team'. For reference,
Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine,
operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty
Island.


About CBR Gold Corp.

CBR Gold Corp. is a global exploration and development company creating
opportunity through project acceleration. We deliver value through innovative
thinking to identify and acquire underappreciated projects worldwide. Our
experience in the capital markets and technical expertise allow us to develop
early and advanced stage projects to the point of joint venture or production.
Our strategy is to partner with best in class companies to reduce our risk while
maximizing the potential for success. CBG is partnered with Heatherdale
Resources Ltd., a Hunter Dickinson associated company, which will earn a 70%
interest by expending $25 million and completing a Feasibility Study on the
Niblack Project.


The diverse CBR Gold Corp. portfolio currently includes two advanced stage
projects, Niblack (Alaska) and Committee Bay (Nunavut), multiple generative
projects, marketable securities holdings and drilling companies in Australia and
Canada.


CBR Gold Corp. is a member of the Discovery Group of companies. For more
information on the group visit www.discoveryexp.com.


Peter Kleespies, P. Geol., a Qualified Person as defined under National
Instrument 43-101, is supervising the exploration and quality assurance and
quality control programs on behalf of CBG and has reviewed the content of this
release. Sample preparation and analysis is done at ISO 9001 accredited ALS
Chemex laboratories in Vancouver, BC. All samples are assayed for gold by 30 g
fire assay fusion with Inductively Coupled Plasma - Atomic Emission spectroscopy
(ICP-AES) finish. Copper, silver, zinc, lead and 29 additional elements are
determined for all samples by four acid digestion, followed by ICP-AES finish.
All over limit copper, zinc or lead results (greater than 10%) and all over
limit silver results (greater than 200 grams per tonne) are re-assayed by high
grade single element four acid digestion ICP-AES analysis. As part of a
comprehensive QA/QC program, one standard is inserted into the sample stream in
each group of 20 samples, as well as one or more field blanks in each analytical
batch. One sample in each group of 20 is a duplicate, which is analyzed by Acme
Analytical Laboratories in Vancouver.


On behalf of the Board

CBR Gold Corp. 

John Williamson, President, CEO & Director

This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address exploration drilling, exploitation activities and events or
developments that the Company expects are forward looking statements. Although
the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration successes,
continuity of mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party opposition,
changes in government policies regarding mining and natural resource exploration
and exploitation, and continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company, investors
should review the Company's continuous disclosure filings that are available at
www.sedar.com.




                          NIBLACK ASSAY TABLE 2
-------------------------------------------------------------------------
Drill
Hole           From      To  Intercept     Cu     Au     Zn    Ag  CuEQ(1)
Number        (feet)  (feet)     (feet)     %    g/t      %   g/t       %
-------------------------------------------------------------------------
U027          629.2   644.0       14.8   3.06   6.57  18.51   101   16.22
-------------------------------------------------------------------------
U028          460.8   488.3       27.5   4.11  20.03  14.03   301   25.84
-------------------------------------------------------------------------
U028    and   590.6   627.6       37.0   3.73   5.47  13.00   114   13.95
-------------------------------------------------------------------------
U028   incl.  618.7   627.6        8.9   5.73  10.60  12.98   177   19.80
-------------------------------------------------------------------------
U028    and   688.8   694.2        5.4   4.77   2.36  11.95    50   11.93
-------------------------------------------------------------------------
U029          763.7   825.1       61.4   1.40   2.40   2.81    48    4.61
-------------------------------------------------------------------------
U029   incl.  790.4   799.4        9.0   2.79   4.81   1.10    85    7.15
-------------------------------------------------------------------------
U029   incl.  815.7   825.1        9.4   2.63   4.92   9.80   108   11.06
-------------------------------------------------------------------------
U030          835.1   867.8       32.7   1.83   3.39   2.56    57    5.65
-------------------------------------------------------------------------
U030   incl.  856.0   867.8       11.8   1.96   4.34   3.38    70    6.86
-------------------------------------------------------------------------
U031          762.0   905.9      143.9   2.25   3.01   5.52    76    7.29
-------------------------------------------------------------------------
U031   incl.  809.4   905.9       96.5   2.65   3.38   7.28    90    8.84
-------------------------------------------------------------------------
U031   incl.  838.0   905.9       67.9   3.21   3.86   8.66   112   10.51
-------------------------------------------------------------------------
U031   incl.  847.0   895.5       48.5   3.51   4.01  10.08   109   11.50
-------------------------------------------------------------------------
U031   incl.  866.8   895.5       28.7   4.19   5.18  13.85   133   14.78
-------------------------------------------------------------------------
U032          848.0   858.7       10.7   1.51   2.16   2.53    52    4.49
-------------------------------------------------------------------------
U032    and   883.0   896.0       13.0   1.92   3.34   1.21    60    5.15
-------------------------------------------------------------------------
U033A         768.5   950.0      181.5   2.52   4.53   4.68   105    8.45
-------------------------------------------------------------------------
U033A  incl.  832.5   935.8      103.3   3.29   5.43   6.76   127   10.92
-------------------------------------------------------------------------
U033A  incl.  881.0   932.5       51.5   3.93   7.11  10.09   159   14.37
-------------------------------------------------------------------------
U033A  incl.  889.6   910.0       20.4   3.96   8.98  14.95   221   18.30
-------------------------------------------------------------------------
U034          754.8   759.4        4.6   1.15   1.99   4.42    32    4.64
-------------------------------------------------------------------------
U034    and   875.5   933.5       58.0   1.09   1.78   1.48    49    3.35
-------------------------------------------------------------------------
U034   incl.  885.0   898.5       13.5   1.83   2.96   3.90    85    6.25
-------------------------------------------------------------------------
U034   incl.  897.5   898.5        1.0   2.00   1.19  26.20    39   14.47
-------------------------------------------------------------------------
(1) Copper equivalent calculations use metal prices of Cu US$1.85/lb,
    Au US$800/oz, Ag US$12.75/oz and Zn US$0.80/lb.
CuEQ = Cu % + (Au g/t x 25.72/40.79) + (Ag g/t x 0.410/40.79) + (Zn % x
17.637/40.79).
Metallurgical recoveries and net smelter returns are assumed to be 100%.

Chibougamau Independent ... (TSXV:CBG)
Historical Stock Chart
From Apr 2024 to May 2024

Chibougamau Independent ... (TSXV:CBG)
Historical Stock Chart
From May 2023 to May 2024