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
January 12 2009 - 5:00AM
Marketwired Canada
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.
Sample Protocol
All samples collected from Brazil are prepared and analyzed at the independent
ISO Certified ALS Chemex laboratory, located near Belo Horizonte, Brazil using
industry standard fire assay techniques for gold on 50-gram sample charges with
AAS finish. Coarse blanks, pulp blanks, pulp duplicates, and known gold
standards are inserted on a routine basis. They consist of 12% per cent of
submitted samples. In addition, on a periodic basis 3% of the crusher rejects
are re-submitted and a minimum of 3% of the pulps will be analyzed at the ISO
Certified OMAC Laboratory in Ireland for check assays. All samples are from
split NQ drill core sampled on a metre by metre basis through the mineralized
zone and into surrounding altered rock.
Mr. Titaro is the qualified person (as defined in National Instrument 43-101)
overseeing the design and implementation of the present exploration programs. He
is responsible for preparing the technical information contained in this news
release.
The Corporation is a mineral exploration company focused on gold exploration
primarily on its property in Romania as well as gold exploration and development
on its development-stage property in Brazil. The Corporation has 207,278,454
shares outstanding.
Forward-Looking Statements: This press release includes certain statements that
may be deemed "forward-looking statements". Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate", and other similar words, or statements that
certain events or conditions "may" or "will" occur. All statements in this
release, other than statements of historical facts, that address future
exploration drilling, exploration activities and events or developments that the
Corporation expects, are forward-looking statements. Although the Corporation
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 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, continued availability of capital and
financing, and general economic, market or business conditions. There can be no
assurance that forward-looking statements will prove to be accurate, as results
and future events could differ materially from those anticipated statements. The
Corporation undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking statements.
Table I: Diamond drill hole assay intersections from Carpathian drilling at the
RDM project, Minas Gerais, Brazil.
----------------------------------------------------------------------------
Drill Area From To Length True Au
Hole (m) (m) (m) Thickness (m) (g/t)
----------------------------------------------------------------------------
FRM-4 South Ext. 91.0 97.0 6.0 4.8 1.93
----------------------------------------------------------------------------
Incl. 95.0 97.0 2.0 1.6 5.08
----------------------------------------------------------------------------
FRM-6 South Ext. 71.0 72.0 1.0 1.0 1.08
----------------------------------------------------------------------------
FRM-8 South Ext. NSI
----------------------------------------------------------------------------
FRM-10 III/South Ext. 46.6 49.6 3.0 3.0 1.02
----------------------------------------------------------------------------
FRM-12 V 218.0 253.0 35.0 30.0 2.01
----------------------------------------------------------------------------
Incl. 219.0 222.0 3.0 2.6 5.19
----------------------------------------------------------------------------
And 242.0 247.0 5.0 4.3 7.68
----------------------------------------------------------------------------
FRM-13 III/South Ext. 49.0 54.0 5.0 3.9 1.24
----------------------------------------------------------------------------
60.0 61.0 1.0 0.8 8.82
----------------------------------------------------------------------------
FRM-14 South Ext. 49.0 55.0 6.0 4.6 1.54
----------------------------------------------------------------------------
FRM-17 South Ext. 68.2 69.2 1.0 0.8 17.15
----------------------------------------------------------------------------
FRM-18 South Ext. 66.8 75.8 9.0 6.4 1.40
----------------------------------------------------------------------------
Incl. 70.8 75.8 5.0 3.5 2.27
----------------------------------------------------------------------------
FRM-21 South Ext. 67.5 74.5 5.0 3.8 0.56
----------------------------------------------------------------------------
FRM-23 South Ext. 59.5 61.5 2.0 1.8 1.16
----------------------------------------------------------------------------
FRM-24 V 300.0 308.0 8.0 7.1 1.28
----------------------------------------------------------------------------
Incl. 301.0 303.0 2.0 1.8 3.63
----------------------------------------------------------------------------
FRM-25 III 154.5 159.5 5.0 4.3 3.86
----------------------------------------------------------------------------
Incl. 154.5 157.5 3.0 2.6 5.51
----------------------------------------------------------------------------
FRM-26 III 169.5 172.5 3.0 2.8 1.74
----------------------------------------------------------------------------
195.5 210.5 15.0 13.9 3.66
----------------------------------------------------------------------------
Incl. 200.5 205.5 5.0 4.6 9.25
----------------------------------------------------------------------------
FRM-27 IV 207.15 218.15 11.0 9.8 1.65
----------------------------------------------------------------------------
Incl. 215.15 218.15 3.0 2.7 3.42
----------------------------------------------------------------------------
FRM-28 III 150.5 152.5 2.0 1.9 1.13
----------------------------------------------------------------------------
169.5 173.5 4.0 3.7 2.48
----------------------------------------------------------------------------
FRM-29 IV 197.0 199.0 2.0 1.8 2.37
----------------------------------------------------------------------------
231.0 234.0 3.0 2.7 1.82
----------------------------------------------------------------------------
FRM-30 IV 48.1 65.1 17.0 14.1 1.28
----------------------------------------------------------------------------
Incl. 62.1 65.1 3.0 2.5 2.51
----------------------------------------------------------------------------
FRM-31 III 171.0 196.0 25.0 23.5 1.23
----------------------------------------------------------------------------
Incl. 176.0 186.0 10.0 9.4 2.53
----------------------------------------------------------------------------
And 179.0 183.0 4.0 3.8 4.03
----------------------------------------------------------------------------
FRM-32 IV 88.0 101.0 13.0 12.8 2.09
----------------------------------------------------------------------------
Incl. 99.0 101.0 2.0 2.0 9.33
----------------------------------------------------------------------------
FRM-33 III 171.0 181.0 17.0 16.0 3.96
----------------------------------------------------------------------------
Incl. 171.0 174.0 3.0 2.8 18.45
----------------------------------------------------------------------------
FRM-34 III/South Ext. 229.0 232.0 3.0 2.7 1.63
----------------------------------------------------------------------------
FRM-35 IV 7.0 14.0 7.0 6.9 3.50
----------------------------------------------------------------------------
Incl. 9.0 12.0 3.0 3.0 7.66
----------------------------------------------------------------------------
FRM-38 III 218.4 221.4 3.0 2.7 3.82
----------------------------------------------------------------------------
FRM-39 IV 234.3 236.3 2.0 1.8 2.72
----------------------------------------------------------------------------
249.3 252.3 3.0 2.7 1.07
----------------------------------------------------------------------------
FRM-40 III 222.4 229.4 7.0 6.1 1.78
----------------------------------------------------------------------------
Incl. 225.4 229.4 4.0 3.5 2.86
----------------------------------------------------------------------------
FRM-41 V NSI
----------------------------------------------------------------------------
FRM-42 III 161.45 167.45 6.0 5.7 2.26
----------------------------------------------------------------------------
Incl. 161.45 164.45 3.0 2.8 3.44
----------------------------------------------------------------------------
And 162.45 163.45 1.0 0.9 6.32
----------------------------------------------------------------------------
FRM-43 III 193.55 205.55 12.0 11.9 1.06
----------------------------------------------------------------------------
Incl. 195.55 199.55 4.0 4.0 2.52
----------------------------------------------------------------------------
FRM-44 V 150.0 153.0 3.0 2.8 2.07
----------------------------------------------------------------------------
FRM-45 III 76.4 77.4 1.0 0.9 1.65
----------------------------------------------------------------------------
FRM-49 III 54.0 57.0 3.0 3.0 1.14
----------------------------------------------------------------------------
FRM-50 III 191.3 195.3 4.0 3.7 2.12
----------------------------------------------------------------------------
206.3 219.3 13.0 12.1 1.85
----------------------------------------------------------------------------
Incl. 206.3 212.3 6.0 5.6 3.33
----------------------------------------------------------------------------
FRM-52 III 51.0 61.0 10.0 9.9 1.89
----------------------------------------------------------------------------
FRM-62 III 87.2 98.2 11.0 9.6 1.37
----------------------------------------------------------------------------
Incl. 90.2 95.2 5.0 4.4 2.10
----------------------------------------------------------------------------
Notes: Assay intersections are calculated using a 0.30 g/t Au cut-off and
maximum allowable dilution of three consecutive metres at less than 0.30 g/t Au.
Drill hole details i.e. i.e. Azimuth, declination and total depth are shown in
Drill Hole Descriptions Table III, as shown below.
Table II: Diamond drill hole assay intersections from Carpathian re-sampling of
diamond core drilled by Vale at the RDM project, Minas Gerais, Brazil.
----------------------------------------------------------------------------
Drill Area From To Length True Au
Hole (m) (m) (m) Thickness (m) (g/t)
----------------------------------------------------------------------------
F-56 III 100.0 102.0 2.0 1.8 1.19
----------------------------------------------------------------------------
And 109.0 111.0 2.0 1.8 2.27
----------------------------------------------------------------------------
F-58 III 87.0 93.0 6.0 4.9 1.54
----------------------------------------------------------------------------
Incl. 88.0 89.0 1.0 0.8 5.34
----------------------------------------------------------------------------
108.0 118.0 10.0 8.7 2.13
----------------------------------------------------------------------------
F-75 V 69.0 78.0 9.0 7.2 3.61
----------------------------------------------------------------------------
Incl. 70.0 71.0 1.0 0.8 16.60
----------------------------------------------------------------------------
98.0 116.0 18.0 11.6 2.14
----------------------------------------------------------------------------
112.0 113.0 1.0 0.9 16.45
----------------------------------------------------------------------------
F-80 V 67.00 76.00 9.0 7.9 1.62
----------------------------------------------------------------------------
F-99 IV/V 226.0 233.0 7.0 6.1 2.65
----------------------------------------------------------------------------
Incl. 229.0 231.0 2.0 1.7 7.23
----------------------------------------------------------------------------
F-100 V 200.0 204.0 4.0 3.8 2.02
----------------------------------------------------------------------------
Incl. 202.0 203.0 1.0 1.0 5.12
----------------------------------------------------------------------------
235.0 237.0 2.0 1.9 1.55
----------------------------------------------------------------------------
F-101 IV/V 228.0 231.0 3.0 2.9 2.37
----------------------------------------------------------------------------
245.0 261.0 16.0 15.6 2.53
----------------------------------------------------------------------------
Incl. 253.0 258.0 5.0 4.9 6.36
----------------------------------------------------------------------------
F-102 V 207.0 209.0 2.0 1.9 0.91
----------------------------------------------------------------------------
F-103 III 89.0 100.0 11.0 10.2 3.75
----------------------------------------------------------------------------
Incl. 89.0 93.00 4.0 3.7 5.64
----------------------------------------------------------------------------
And 98.0 100.0 2.0 1.8 7.75
----------------------------------------------------------------------------
114.0 116.0 2.0 1.8 1.53
----------------------------------------------------------------------------
Notes: Assay intersections are calculated using a 0.30 g/t Au cut-off and
maximum allowable dilution of three consecutive metres at less than 0.30 g/t Au.
Drill hole details i.e. i.e. Azimuth, declination and total depth are shown in
Drill Hole Descriptions Table III, as shown below.
Table III: Drill Hole Details for holes completed by Carpathian at the RDM
Project (prefix FRM-xx). Also included are diamond drill holes completed by Vale
from which Carpathian has re-sampled and assayed with drill hole prefix F-xx.
-------------------------------------------------------------------------
Drill Area Northing(i) Azimuth(i) Declination Total
Hole (degrees) (degrees) Depth (m)
-------------------------------------------------------------------------
FRM-4 South Ext. 9,187N 0 -90 120.5
-------------------------------------------------------------------------
FRM-6 South Ext. 8.940N 270 -60 100.6
-------------------------------------------------------------------------
FRM-8 South Ext. 9,400N 0 -90 109.6
-------------------------------------------------------------------------
FRM-10 III/South Ext. 9,348N 270 -61 70.4
-------------------------------------------------------------------------
FRM-12 V 10,417N 0 -90 277.9
-------------------------------------------------------------------------
FRM-13 III/South Ext. 9,465N 270 -90 73.0
-------------------------------------------------------------------------
FRM-14 South Ext. 9,372N 0 -90 72.0
-------------------------------------------------------------------------
FRM-17 South Ext. 9,295N 0 -90 76.0
-------------------------------------------------------------------------
FRM-18 South Ext. 9.230N 0 -90 97.6
-------------------------------------------------------------------------
FRM-21 South Ext. 9,187N 0 -90 85.8
-------------------------------------------------------------------------
FRM-23 South Ext. 9.139N 0 -90 94.2
-------------------------------------------------------------------------
FRM-24 V 10,392N 270 -85 350.1
-------------------------------------------------------------------------
FRM-25 III 9,560N 270 -85 202.8
-------------------------------------------------------------------------
FRM-26 III 9,930N 270 -85 217.6
-------------------------------------------------------------------------
FRM-27 IV 10,240N 270 -85 256.5
-------------------------------------------------------------------------
FRM-28 III 9,670N 270 -85 199.8
-------------------------------------------------------------------------
FRM-29 IV 10,040N 270 -85 256.8
-------------------------------------------------------------------------
FRM-30 IV 10,310N 270 -85 121.7
-------------------------------------------------------------------------
FRM-31 III 9,830N 270 -85 218.6
-------------------------------------------------------------------------
FRM-32 IV 10,375N 270 -60 120.0
-------------------------------------------------------------------------
FRM-33 III 9.780N 270 -85 215.2
-------------------------------------------------------------------------
FRM-34 III/South Ext. 9,440N 270 -85 256.7
-------------------------------------------------------------------------
FRM-35 IV 10,325N 270 -60 83.6
-------------------------------------------------------------------------
FRM-38 III 9,505N 270 -85 323.1
-------------------------------------------------------------------------
FRM-39 IV 10,125N 270 -85 280.8
-------------------------------------------------------------------------
FRM-40 III 9,645N 270 -85 270.7
-------------------------------------------------------------------------
FRM-41 V 10,585N 270 -85 283.9
-------------------------------------------------------------------------
FRM-42 III 9,620N 270 -85 200.9
-------------------------------------------------------------------------
FRM-43 III 9,505N 270 -60 231.9
-------------------------------------------------------------------------
FRM-44 V 10,690N 270 -75 210.7
-------------------------------------------------------------------------
FRM-45 III 9,480N 270 -84 139.6
-------------------------------------------------------------------------
FRM-49 III 9,540N 270 -60 80.2
-------------------------------------------------------------------------
FRM-50 III 9,735N 270 -85 252.8
-------------------------------------------------------------------------
FRM-52 III 9,600N 270 -60 81.5
-------------------------------------------------------------------------
FRM-62 III 9.815N 270 -85 118.5
-------------------------------------------------------------------------
F-56 III 9,800N 0 -90 123.5
-------------------------------------------------------------------------
F-58 III 9,900N 270 -87 132.4
-------------------------------------------------------------------------
F-75 V 10,642N 0 -90 159.3
-------------------------------------------------------------------------
F-80 V 10,692N 0 -90 104.8
-------------------------------------------------------------------------
F-99 IV/V 10.492N 266 -86 265.0
-------------------------------------------------------------------------
F-100 V 10,645N 0 -90 256.1
-------------------------------------------------------------------------
F-101 IV/V 10,395N 270 -81 298.9
-------------------------------------------------------------------------
F-102 V 10,695N 270 -87 237.7
-------------------------------------------------------------------------
F-103 III 9,654N 0 -90 119.3
-------------------------------------------------------------------------
Notes: (i) All Northings are in local grid coordinates which are rotated 20
degrees west from true north. (i)All drill hole azimuths are local grid
azimuths, i.e. rotated 20 degrees west from true north.