• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Canplats Resources Corporation: Camino Rojo Drilling Continues to Extend Gold-Silver-Lead-Zinc Mineralization

Posted on: Monday, 21 January 2008, 06:00 CST

Canplats Resources Corporation (TSX VENTURE: CPQ) is pleased to announce the results of six additional step-out drill holes in the Represa Zone of the Camino Rojo project in the State of Zacatecas, Mexico. This wholly-owned project is located 50 kilometers to the southeast of Goldcorp's Penasquito mine.

Drilling continues to intersect broad intervals of gold-silver-lead-zinc mineralization, and has now successfully extended the known mineralization at the Represa Zone for at least 400 meters along strike and to a vertical depth of 175 meters.

Significant drill intercepts include:

- CR-07, collared 50 meters to the east of previously announced drill hole CR-03 (see news release of December 11, 2007) and inclined at -50 degrees to the east, intersected 211 meters averaging 0.92 grams gold per tonne, 15.52 grams silver per tonne, 0.31% lead, and 0.47% zinc. The bottom 59 meters of this hole intersected mixed oxide-sulphide mineralization grading 1.02 grams gold per tonne, 25.14 grams silver per tonne, 0.34% lead and 0.88% zinc.

- CR-10, collared 150 meters to the east of previously announced drill hole CR-03 and inclined at -50 degrees to the west, intersected 195 meters averaging 1.03 grams gold per tonne, 13.96 grams silver per tonne, 0.30% lead, and 0.32% zinc, which includes 73 meters grading 1.61 grams gold per tonne, 10.66 grams silver per tonne, 0.38% lead, and 0.28% zinc.

- CR-12, collared 250 meters to the east of previously announced drill hole CR-03 and inclined at -50 degrees to the north, intersected 234 meters averaging 0.61 grams gold per tonne, 20.02 grams silver per tonne, 0.33% lead, and 0.58% zinc, which includes 28 meters grading 1.02 grams gold per tonne, 26.66 grams silver per tonne, 0.48% lead, and 0.89% zinc.

Recent step-out drill results are summarized in the following table:

 ----------------------------------------------------------------------- ---               From        To  Interval(ii)     Gold    Silver   Lead  Zinc Hole No.   (meters)  (meters)     (meters) (g/tonne) (g/tonne)    (%)   (%) -------------------------------------------------------------------------- CR-07(i)         0       211          211      0.92     15.52   0.31  0.47 --------------------------------------------------------------------------  incl.         152       211           59      1.02     25.14   0.34  0.88 -------------------------------------------------------------------------- CR-08(i)         0       192          192      0.44     13.15   0.39  0.32 --------------------------------------------------------------------------  incl.         177       192           15      1.07     26.01   0.17  0.41 -------------------------------------------------------------------------- CR-09(i)         0       238          238      0.45     14.36   0.22  0.36 -------------------------------------------------------------------------- CR-10(i)         0       195          195      1.03     13.96   0.30  0.32 --------------------------------------------------------------------------  incl.          42       115           73      1.61     10.66   0.38  0.28 -------------------------------------------------------------------------- CR-11            0       199          199      0.32     11.38   0.19  0.29 -------------------------------------------------------------------------- CR-12(i)         0       234          234      0.61     20.02   0.33  0.58 --------------------------------------------------------------------------  incl.          26        54           28      1.02     26.66   0.48  0.89 -------------------------------------------------------------------------- (i) Hole ended in mineralization  (ii) True width to be determined Maps of the drill program are available at the Canplats web site, www.canplats.com. 

Ten of the twelve drill holes that have now been reported at the Represa Zone are mineralized over their entire length and were stopped in significant precious and base metal values.

Drilling is ongoing at the project and will focus on extending the oxide mineralization in all directions and testing for continuation of the sulphide mineralization below the oxides. Results will be released as they are received.

Further drilling will be accompanied by expanded induced polarization (IP) and ground magnetic surveys to outline potential extensions to known mineralization and new targets in adjacent overburden covered areas.

All work is being supervised by Ken McNaughton, vice-president, exploration, and a qualified person as defined by Canada's National Instrument 43-101 responsible for the Camino Rojo exploration program and has verified the data in the table above. All samples were submitted for preparation in Chihuahua, Mexico and analysis at its facilities in Vancouver, B.C. by ALS Chemex. All samples were analyzed using aqua regia digestion with ICP finish. All gold samples were fire assayed with an AA finish and all samples over 10 ppm gold were re-assayed using a fire assay with a gravimetric finish. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. One in 20 samples was blind duplicate assayed at ALS Chemex in Vancouver, B.C.

To receive Canplats' news releases by e-mail, contact Blaine Monaghan, Director, Investor Relations, at info@canplats.com or (866) 338-0047. Some of the statements contained in the company's news releases may be forward-looking statements such as the company's future plans, objectives and goals. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties which could cause actual results to vary considerably from these statements. The risks and uncertainties include general and economic conditions as well as those described in Canplats' SEC Form 20F as amended.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

 Contacts: Canplats Resources Corporation R.E. Gordon Davis Chairman and C.E.O. Direct: (604) 484-8220  Canplats Resources Corporation Bruce A. Youngman President and C.O.O. Direct: (604) 484-5960  Canplats Resources Corporation Blaine Monaghan Director, Investor Relations Direct: (604) 484-2194 or NA Toll Free: 1-866-338-0047 Email: info@canplats.com Website: www.canplats.com  G2 Consultants Corporation Investor Inquiries NA Toll Free: 1-866-742-9990 or (604) 742-9990 (604) 742-9991 (FAX) Email: canplats@g2consultants.com

SOURCE: Canplats Resources Corporation

Source: MARKET WIRE

More News in this Category