Canplats Adds to Management Team and Commences Follow-Up Reconnaissance Exploration Program
September 09 2009 - 8:30AM
Marketwired
Canplats Resources Corporation (TSX VENTURE: CPQ) is pleased to
announce the appointment of Richard Dufresne, P.Geo., to the
position of Exploration Manager. Mr. Dufresne brings to Canplats
more than 22 years of experience in the mineral exploration and
development industry. He previously worked with a number of major
mining companies including Anglo American Exploration (Canada),
where he was Senior Geologist responsible for managing exploration
in Eastern Canada, and Falconbridge Ltd. (which was subsequently
acquired by Xstrata), where he was involved in the exploration and
development of the Raglan nickel mine. Mr. Dufresne has
considerable international exploration experience in Peru, Mexico,
the Dominican Republic and the Ivory Coast. He has participated in
several new discoveries in the Raglan district of northern Quebec
and the central lead-zinc-silver belt in Peru, where one discovery
was recognized as the Mining Prospect of the Year by the Peruvian
Mining Merit Awards Committee in 2002. Mr. Dufresne graduated from
the University of Montreal with a B.Sc. in geology and is a member
of the Ordre des Geologues du Quebec (Geo) and the Association of
Professional Geoscientists of Ontario (P.Geo.).
Mr. Dufresne will direct follow-up reconnaissance exploration
activities at the 359,000 hectare (1,390 square miles) Camino Rojo
project in north-central Mexico, where initial geological and
geochemical exploration has identified several new prospective
areas (please see news release dated May 28, 2009 and location maps
at www.canplats.com). These include the Cerro Verde area, where
extensive replacement and structurally controlled jasperoid zones
are associated with highly-elevated antimony, molybdenum, silver,
lead and zinc and anomalous gold values over an area measuring 7
kilometers by 13 kilometers. Further geological mapping, stream
sediment sampling, prospecting, and geophysical surveys will be
completed at Cerro Verde and several other large-scale target
areas, including Calabazal, Jandel's Quarry, Gomez Ranch, Camino
Rojo Dos and Cardito. The Camino Rojo project is considered to be
highly-prospective for new discoveries and only a portion of the
property has been investigated to date through systematic
reconnaissance exploration activities.
The Camino Rojo project hosts measured and indicated resources
estimated at 3.44 million ounces of gold and 60.7 million ounces of
silver at the Represa Zone with additional inferred resources of
0.56 million ounces of gold and 7.6 million ounces of silver (see
news release dated November 24, 2008 and table to follow).
Mineralization remains open for further expansion in both strike
directions and to depth.
The Represa Zone is situated in flat terrain within an area of
excellent infrastructure, less than 5 kilometers from a paved
highway and high voltage power lines. Canplats is actively pursuing
the acquisition of surface rights in the Represa area.
REPRESA MINERAL RESOURCE SUMMARY(i)
---------------------------------------------------------------------------
Size Grade
-------- ----------------------------- Gold Silver
Tonnes Gold Silver Zinc Lead Ounces Ounces
Category (Millions) (g/t) (g/t) (%) (%) (000's) (000's)
---------------------------------------------------------------------------
Measured 9.58 0.76 13.40 0.34 0.29 235 4,126
---------------------------------------------------------------------------
Indicated 153.81 0.65 11.44 0.37 0.18 3,210 56,582
---------------------------------------------------------------------------
Total M&I 163.39 0.66 11.56 0.37 0.19 3,445 60,708
---------------------------------------------------------------------------
Inferred 31.03 0.56 7.63 0.31 0.10 555 7,612
---------------------------------------------------------------------------
(i) Based upon a cut-off grade of 0.2 grams gold per tonne for oxide and
transitional resources, with a cut-off grade of 0.3 grams gold per
tonne for sulphide resources.
To receive Canplats' news releases by e-mail, contact Blaine
Monaghan, Director, Investor Relations, at info@canplats.com or
(866) 338-0047.
Statements contained in this news release that are not
historical fact, such as statements regarding the economic
prospects of the company's projects, future plans or future
revenues, timing of development or potential expansion or
improvements, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Such forward looking statements are subject to risks and
uncertainties which could cause actual results to differ materially
from estimated results. Such risks and uncertainties include, but
are not limited to, the company's ability to raise sufficient
capital to fund development, changes in economic conditions or
financial markets, changes in prices for the company's mineral
products or increases in input costs, litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments in Mexico, technological and operational
difficulties or inability to obtain permits encountered in
connection with exploration and development activities, labour
relations matters, and changing foreign exchange rates, all of
which are described more fully in the company's filings with the
Securities and Exchange Commission.
Cautionary note to U.S. investors: The terms "measured mineral
resource", "indicated mineral resource", and "inferred mineral
resource" used in this news release are Canadian geological and
mining terms as defined in accordance with National Instrument
43-101, Standards of Disclosure for Mineral Projects ("NI 43-101")
under the guidelines set out in the Canadian Institute of Mining,
Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources
and Mineral Reserves. We advise U.S. investors that while such
terms are recognized and permitted under Canadian regulations, the
SEC does not recognize them. U.S. investors are cautioned not to
assume that any part or all of the mineral deposits in the measured
and indicated categories will ever be converted into reserves.
"Inferred mineral resources" in particular have a great amount of
uncertainty as to their economic feasibility. It cannot be assumed
that all or any part of an inferred mineral resource will ever be
upgraded to a higher category. Under Canadian rules estimates of
inferred mineral resources may not generally form the basis of
feasibility or other economic studies. U.S. investors are cautioned
not to assume that any part or all of an inferred mineral resource
exists, or is economically or legally mineable. Disclosure of
contained metal expressed in ounces is in compliance with NI
43-101, but does not meet the requirements of Industry Guide 7 of
the SEC, which will only accept the disclosure of tonnage and grade
estimates for non-reserve mineralization.
The TSX Venture Exchange has neither approved nor disapproved of
the information contained herein.
Contacts: Canplats Resources Corporation - Corporate Information
R.E. Gordon Davis Chairman and C.E.O. (604) 629-8292 Canplats
Resources Corporation - Corporate Information Bruce A. Youngman
President and C.O.O. (604) 629-8293 Canplats Resources Corporation
- Investor Inquiries Blaine Monaghan Director, Investor Relations
(604) 629-8294 or Toll-Free: (866) 338-0047 info@canplats.com
www.canplats.com G2 Consultants Corporation - Investor Inquiries NA
Toll-Free: (866) 742-9990 or (604) 742-9990 (604) 742-9991 (FAX)
canplats@g2consultants.com
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