News from CNW Group
Carpathian Gold Inc. completes RC drill program and intersects copper mineralization including 14 metres at 0.85% Cu at the Talva Mica Prospect, Oravita License, Romania
Tuesday, December 20, 2005
TORONTO, Dec. 20 /CNW/ - Carpathian Gold Inc. (CPN:TSX-Venture) has completed a first-pass 1200 metre Reverse Circulation (RC) drill program on the Talva Mica Prospect, in the northern part of its wholly owned Oravita Exploration License in southwest Romania. A total of 11 drill holes on widely spaced drill fences ( 200 - 600 metres apart) tested a 1.2 km part of the 3.5 km long 'Talva Trend' copper mineralization defined by geophysics, soil geochemistry and surface rock sampling. Copper mineralization is intersected over an 800 metre strike length and remains open at depth and along strike and indicates the presence of a large system. Drill intersection highlights include the following listed in sequence along the Talva Trend from Southwest to Northeast (For complete list of drill hole intersections see table below).
Drill hole (DH) OTR-11 intersected 57 metres at 0.30% Cu including 14 metres at 0.85% Cu and 3 metres at 2.14% Cu in calcareous hornfels. Two- hundred metres northeast along strike DH OTR-7 ended in mineralization and intersected 34 metres at 0.28% Cu including 8 metres at 0.47% Cu in calcareous hornfels. A further 600 metres northeast along strike, DH OTR-5 intersected copper mineralization over its entire length of 105 metres at 0.26% Cu including 30 metres at 0.54% Cu hosted in hornfels and quartz-biotite porphyry. In addition all holes have gold credits.
Along a 300 metre part of the 800 metre strike length tested in this drill program, underground exploration (Gallery Nicolae) by the Romania State exploration company in the 1990's encountered closely-spaced copper mineralized structures over a 50 to 70 metre width striking northeast- southwest occurring 150-300 metres below the surface. Within this zone reported assay intersections of these structures include 12 metres at 2.76% Cu; 10 metres at 5.10% Cu; 7 metres at 1.17% Cu; and 2 metres at 7.87% hosted in calcareous hornfels sediments (see Carpathian press release dated April 18, 2005). All 5 RC drill holes (OTR-7 to 11) above gallery Nicolae intersected Cu-mineralization providing up-dip extensions. In addition two drill holes (OTR-5, & 6) extended this mineralization 600 metres northeast along strike into a quartz-biotite porphyry.
"Carpathian is pleased to have intersected copper mineralization over an 800 metre long segment of the 3.5 km long 'Talva Trend' from this widely spaced, first-pass drilling program" said Dino Titaro, President and CEO. "Extension of the previously defined copper mineralization 500 metres along strike into a porphyry host is promising for increased tonnage potential. In addition, east of the quartz-biotite porphyry, a gold-in-soil anomaly in sediments suggests potential for marginal gold mineralization" said Dino Titaro.
Carpathian is planning follow-up trenching and drilling programs to better define grade and tonnage potential and evaluate the nature and trend of the high grade copper mineralization in the Gallery Nicolae adit, as well as test the soil geochemistry anomaly further east.
The following table lists the RC assay results. The location of these holes can be found on the Corporations web site, www.carpathiangold.com.
<<
Drill hole intersection table from Reverse Circulation drilling at Talva
Mica Prospect, Northern part of Oravita License:
-------------------------------------------------------------------------
Drill Inclination From Length Au CuEQ
hole (degrees) (m) To (m) (m) Cu (%) (g/t) (%)
-------------------------------------------------------------------------
OTR-5 -50 0 105(eoh) 105 0.26 0.05 0.29
-------------------------------------------------------------------------
Inclusive 50 80 30 0.54 0.11 0.60
-------------------------------------------------------------------------
and 50 58 8 1.15 0.27 1.31
-------------------------------------------------------------------------
and 52 54 2 2.01 0.34 2.21
-------------------------------------------------------------------------
OTR-6 -50 0 105(eoh) 105(x) 0.11 0.03 0.13
-------------------------------------------------------------------------
Inclusive 21 33 12(x) 0.28 0.07 0.32
-------------------------------------------------------------------------
And 42 46 4 0.57 0.17 0.67
-------------------------------------------------------------------------
OTR-7 -50 18 52(eoh) 34(xx) 0.28 0.03 0.30
-------------------------------------------------------------------------
Inclusive 44 52(eoh) 8 0.47 0.04 0.49
-------------------------------------------------------------------------
and 19 19.5 0.5 2.2 0.33 2.39
-------------------------------------------------------------------------
OTR-8 -60 55 65 10 0.12 0.01 0.13
-------------------------------------------------------------------------
And 78 84 6 0.32 0.04 0.34
-------------------------------------------------------------------------
OTR-9 -55 36 65 29 0.11 0.02 0.12
-------------------------------------------------------------------------
Inclusive 40 43 3 0.33 0.03 0.35
-------------------------------------------------------------------------
OTR-10 -70 32 67 35 0.21 0.05 0.24
-------------------------------------------------------------------------
Inclusive 75 80 5 0.38 0.05 0.41
-------------------------------------------------------------------------
and 76 77 1 1.27 0.11 1.33
-------------------------------------------------------------------------
OTR-11 -90 35 92 57(xxx) 0.3 0.13 0.38
-------------------------------------------------------------------------
Inclusive 48 62 14 0.85 0.12 0.92
-------------------------------------------------------------------------
And 59 62 3 2.14 0.24 2.28
-------------------------------------------------------------------------
and 60 61 1 3.22 0.25 3.37
-------------------------------------------------------------------------
and 85 86 1 0.22 4.38 2.77
-------------------------------------------------------------------------
Note: Drill holes OTR-1 to OTR-4 tested a divergent structure from the
Talva Trend and did not intersect significant mineralization.
(x) includes 4 metre void
(xx) includes 3 metre void
(xxx) includes 3.1 metre void
CuEQ calculation uses US$1.00/lb for copper and US$400/ounce for gold
On February 17, 2005, the Corporation announced it had entered into a transaction with Magyar Mining PLC, whereby Magyar would purchase the Corporations Hungarian assets for a total consideration of US$1.0 million in cash and shares. The closing of this transaction was extended to November 30, 2005 and as of this date Magyar had not meet their contractual obligations and the transaction has been terminated. The Corporation is evaluating other options for the Hungarian assets as it wishes to focus in the near term primarily on its Romanian assets, specifically the Rovina, Oravita, and Baia Mare licenses.
All samples collected from any program in the country are prepared and analysed at the independent SGS Ltd laboratory in Gura Rosiei, Romania, using industry-standard fire assay techniques for gold on 50 g sample-charges with AAS finish. Copper is analysed using the industry-standard method of Aqua- regia digest on a 0.40 g sub-sample with an AAS finish. Blanks and known gold-standards are inserted on a routine basis and together comprise 10% of submitted samples. Mr. Dino Titaro is the in-house Qualified Person (as defined in National Instrument 43-101) overseeing the design and implementation of the present exploration programs and responsible for preparing the technical information contained in this news release.
Carpathian Gold Inc. is a mineral exploration company focused on gold and copper exploration on its properties in Romania.
-------------------------------------------------------------------------
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
This press release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address future exploration drilling,
exploration 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 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.
>>
%SEDAR: 00018939E
For further information: Dino Titaro, President & CEO, Tel. (416) 368-7744 (CAN), Fax. (416) 260-2243 (CAN), e-mail: info@carpathiangold.com, Website: www.carpathiangold.com OR Eric Leboeuf, Investor Relations, Tel. (514) 341-0408 or 1-866-460-0408, Fax. (514) 341-1527, e-mail: ericleboeuf@paradox-pr.ca
© CNW Group