CBR Gold Corp.: Niblack Drilling Continues to Expand New Discovery of High-Grade, Precious Metals-Rich Mineralization at Niblack
March 19 2010 - 8:30AM
Marketwired Canada
CBR Gold Corp. (TSX VENTURE:CBG)(FRANKFURT:C3M) ("CBG" or the "Company") and
joint venture partner Heatherdale Resources Ltd. (TSX VENTURE:HTR)
("Heatherdale") announce that intersections of high-grade
copper-gold-silver-zinc mineralization continue to be encountered in underground
drilling at the Niblack Project in southeast Alaska. The ongoing drill program
is utilizing two rigs which are presently focused on delineating the new,
precious-metals enriched massive sulphide discovery located southwest of the
Lookout Deposit; one of six known volcanogenic massive sulphide ("VMS") deposits
within the 10 square mile Niblack property.
The two discovery holes (U027 and 28) drilled by CBR Gold Corp. along with the
first six delineation holes (U029, 30, 31, 32, 33A and 34) were tabulated and
presented in CBG's January 18th news release. New intersections from the next
four holes (U035, 36, 37A and 38) are presented in the Niblack Assay Table
below. . A Plan Map and Cross Sections showing the location of all the drill
holes are available at www.cbrgoldcorp.com.
NIBLACK ASSAY TABLE
--------------------------------------------------------------------------
Drill
Hole From To Intercept
Number (feet) (feet) (feet) Cu % Au g/t Zn % Ag g/t
--------------------------------------------------------------------------
U035 982.0 986.8 4.8 2.37 3.79 1.54 78
--------------------------------------------------------------------------
U035 1010.0 1061.5 51.5 1.88 2.52 1.56 51
--------------------------------------------------------------------------
U035 incl. 1010.0 1015.2 5.2 2.14 3.45 0.60 59
--------------------------------------------------------------------------
U035 incl. 1018.3 1032.3 14.0 2.49 3.13 1.52 59
--------------------------------------------------------------------------
U035 incl. 1050.0 1061.5 11.5 2.24 3.27 2.78 67
--------------------------------------------------------------------------
U035 1089.6 1095.0 5.4 1.99 3.16 1.52 43
--------------------------------------------------------------------------
U035 1189.0 1225.5 36.5 1.24 3.53 3.18 43
--------------------------------------------------------------------------
U036 1174.0 1178.0 4.0 1.25 1.12 4.21 27
--------------------------------------------------------------------------
U036 1363.1 1372.0 8.9 1.11 1.92 1.02 28
--------------------------------------------------------------------------
U037A 1021.5 1026.5 5.0 1.17 1.98 3.47 41
--------------------------------------------------------------------------
U037A 1032.4 1053.3 20.9 1.19 2.10 2.05 39
--------------------------------------------------------------------------
U037A incl. 1045.8 1053.3 7.5 2.16 4.00 4.05 69
--------------------------------------------------------------------------
U037A 1114.5 1163.8 49.3 1.23 1.53 1.06 22
--------------------------------------------------------------------------
U037A incl. 1155.0 1163.8 8.8 2.14 2.43 1.20 32
--------------------------------------------------------------------------
U038 1237.4 1261.0 23.6 0.50 0.90 0.48 12
--------------------------------------------------------------------------
Holes are being drilled in fan patterns from underground drill stations and are
designed to cross-cut the high grade mineralization. To date, the true widths of
the intersections have not yet been accurately established.
The Joint Venture has now initiated a second and third series of underground fan
drill holes at drill stations number two and three located along strike at 100
foot intervals.
"Intersections from fan drilling the first, second and third underground drill
stations each located 100 feet apart have certainly demonstrated a continuity of
high-grade, precious-metals enriched VMS mineralization southwest of the Lookout
Deposit," said John Williamson, President and CEO of CBR Gold Corp.. "What is
perhaps 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."
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 8000 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.
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 CBR GOLD Corp. and has reviewed the
content of this release.
CBR Gold Corp. is a member of the Discovery Group of companies, for more
information on the group visit www.discoveryexp.com. Heatherdale Resources Ltd.
will earn up to a 70% interest from CBR Gold Corp. by expending US$25 million
and completing a Positive Bankable Feasibility Study on the Niblack Project.
Heatherdale is affiliated with the Hunter Dickinson group, a private company
associated with successful mineral exploration and development projects around
the world.
On behalf of the Board
CBR Gold Corp.
John Williamson, President, CEO & Director
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.
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
--------------------------------------------------------------------------
Drill
Hole From To Intercept
Number (feet) (feet) (feet) Cu % Au g/t Zn % Ag g/t
--------------------------------------------------------------------------
U027 629.2 644.0 14.8 3.06 6.57 18.51 101
--------------------------------------------------------------------------
U028 460.8 488.3 27.5 4.11 20.03 14.03 301
--------------------------------------------------------------------------
U028 and 590.6 627.6 37.0 3.73 5.47 13.00 114
--------------------------------------------------------------------------
U028 incl. 618.7 627.6 8.9 5.73 10.60 12.98 177
--------------------------------------------------------------------------
U028 and 688.8 694.2 5.4 4.77 2.36 11.95 50
--------------------------------------------------------------------------
U029 763.7 825.1 61.4 1.40 2.40 2.81 48
--------------------------------------------------------------------------
U029 incl. 790.4 799.4 9.0 2.79 4.81 1.10 85
--------------------------------------------------------------------------
U029 incl. 815.7 825.1 9.4 2.63 4.92 9.80 108
--------------------------------------------------------------------------
U030 835.1 867.8 32.7 1.83 3.39 2.56 57
--------------------------------------------------------------------------
U030 incl. 856.0 867.8 11.8 1.96 4.34 3.38 70
--------------------------------------------------------------------------
U031 762.0 905.9 143.9 2.25 3.01 5.52 76
--------------------------------------------------------------------------
U031 incl. 809.4 905.9 96.5 2.65 3.38 7.28 90
--------------------------------------------------------------------------
U031 incl. 838.0 905.9 67.9 3.21 3.86 8.66 112
--------------------------------------------------------------------------
U031 incl. 847.0 895.5 48.5 3.51 4.01 10.08 109
--------------------------------------------------------------------------
U031 incl. 866.8 895.5 28.7 4.19 5.18 13.85 133
--------------------------------------------------------------------------
U032 848.0 858.7 10.7 1.51 2.16 2.53 52
--------------------------------------------------------------------------
U032 and 883.0 896.0 13.0 1.92 3.34 1.21 60
--------------------------------------------------------------------------
U033A 768.5 950.0 181.5 2.52 4.53 4.68 105
--------------------------------------------------------------------------
U033A incl. 832.5 935.8 103.3 3.29 5.43 6.76 127
--------------------------------------------------------------------------
U033A incl. 881.0 932.5 51.5 3.93 7.11 10.09 159
--------------------------------------------------------------------------
U033A incl. 889.6 910.0 20.4 3.96 8.98 14.95 221
--------------------------------------------------------------------------
U034 754.8 759.4 4.6 1.15 1.99 4.42 32
--------------------------------------------------------------------------
U034 and 875.5 933.5 58.0 1.09 1.78 1.48 49
--------------------------------------------------------------------------
U034 incl. 885.0 898.5 13.5 1.83 2.96 3.90 85
--------------------------------------------------------------------------
U034 incl. 897.5 898.5 1.0 2.00 1.19 26.20 39
--------------------------------------------------------------------------
U035 982.0 986.8 4.8 2.37 3.79 1.54 78
--------------------------------------------------------------------------
U035 1010.0 1061.5 51.5 1.88 2.52 1.56 51
--------------------------------------------------------------------------
U035 incl. 1010.0 1015.2 5.2 2.14 3.45 0.60 59
--------------------------------------------------------------------------
U035 incl. 1018.3 1032.3 14.0 2.49 3.13 1.52 59
--------------------------------------------------------------------------
U035 incl. 1050.0 1061.5 11.5 2.24 3.27 2.78 67
--------------------------------------------------------------------------
U035 1089.6 1095.0 5.4 1.99 3.16 1.52 43
--------------------------------------------------------------------------
U035 1189.0 1225.5 36.5 1.24 3.53 3.18 43
--------------------------------------------------------------------------
U036 1174.0 1178.0 4.0 1.25 1.12 4.21 27
--------------------------------------------------------------------------
U036 1363.1 1372.0 8.9 1.11 1.92 1.02 28
--------------------------------------------------------------------------
U037A 1021.5 1026.5 5.0 1.17 1.98 3.47 41
--------------------------------------------------------------------------
U037A 1032.4 1053.3 20.9 1.19 2.10 2.05 39
--------------------------------------------------------------------------
U037A incl. 1045.8 1053.3 7.5 2.16 4.00 4.05 69
--------------------------------------------------------------------------
U037A 1114.5 1163.8 49.3 1.23 1.53 1.06 22
--------------------------------------------------------------------------
U037A incl. 1155.0 1163.8 8.8 2.14 2.43 1.20 32
--------------------------------------------------------------------------
U038 1237.4 1261.0 23.6 0.50 0.90 0.48 12
--------------------------------------------------------------------------
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