|
|
|
Carpathian Intersects 482 m of 1.06 g/t Au & 0.21% Cu and Continues to Increase Size of Ciresata Deposit With More Wide Zones of Au-Cu Mineralization Core hole RGD-20 is near the southern edge of the known mineralization halo in an area with sparse drilling and intersected 240 metres of significant gold-copper grades which extends the greater than 0.80 g/t Au-eq grade shell 120 metres to the southwest and contributes higher grades. Core hole RGD-21 is located at the northwest edge of the present drill pattern and intersected 626 meters of high-grade gold-copper mineralization that extends this zone and is open northwest of the present drill pattern. This drill hole expands the greater than 0.80 g/t Au-eq grade shell significantly from the previous resource estimate in 2008. Highlight intersections from this hole are shown below. ---------------------------------------------------------------------------- Drill hole From (m) To (m) Length (m) Au (g/t) Cu (%) Au-eq(i) (g/t) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- RGD-20(ii) 310 550 240 0.81 0.16 1.13 ---------------------------------------------------------------------------- Including 421 497 76 1.01 0.17 1.36 ---------------------------------------------------------------------------- RGD-21(ii) 170 773 603 0.94 0.20 1.34 ---------------------------------------------------------------------------- Including 170 773 603 0.94 0.20 1.34 ---------------------------------------------------------------------------- Including 147 629 482 1.06 0.21 1.50 ---------------------------------------------------------------------------- Including 208 544 336 1.22 0.23 1.70 ---------------------------------------------------------------------------- (i) To estimate Au-eq (Gold Equivalent) a gold price of US "We continue to be impressed with the drill results from the Ciresata
porphyry and look forward to further drill results from our accelerated
program", said The Ciresata porphyry system is a blind deposit that begins 40 to 140 m below
surface. Drill hole RDG-21 with 626 metres at 0.92 g/t Au and 0.19% Cu extends
the high-grade core of Ciresata to the northwest edge of the present drill
pattern. This intersection is located 100 metres west of drill hole RGD-17 which
intersected 716 metres at 1.14 g/t Au and 0.16% Cu (see Corporation's Press
Release dated RVP Background Information RVP is comprised of three Au-Cu porphyry systems (Rovina, Colnic and Ciresata)
discovered by the Corporation. From 2006 to 2009, 181 diamond drill holes
totaling 71,375 m have been completed on the project. In late 2008, A detailed Preliminary Economic Assessment ("PEA") was released on A summary of the PEA results is provided below.
-- Average annual gold production of 238,000 ounces per annum for the first
five years and averaging 196,000 ounces per annum over the mine life of
19 years, for a total of 3.72 million ounces of recoverable gold over
the life-of-mine (LOM).
-- Average annual copper production of 53.5 million lbs for the first five
years and averaging 49.4 million lbs per annum over the19-year mine
life, totaling 938 million lbs of recoverable copper over LOM.
-- Total gold equivalent ounces produced over the 19-year mine life are
6.22 million.
-- Total operating cash cost of US
There has been no previous commercial mining activity at RVP and the proposed mine site footprint as defined by the PEA does not include any known protected heritage sites or archaeological occurrences and has been designed to minimize impact in the nearby communities of Rovina and Bucuresci. According to the cautionary statement required by NI 43-101, it should be noted that this PEA is preliminary in nature as it includes inferred mineral resources that cannot be categorized as reserves at this time and as such there is no certainty that the preliminary assessment and economics will be realized. The full Study of the PEA is available on www.SEDAR.com. Sample Protocol All samples collected from any program in 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. About Carpathian The Corporation is an exploration and development company whose primary
business interest is developing near-term gold production on its 100% owned
Riacho dos The Riacho dos 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. The TSX does not accept responsibility for the adequacy or accuracy of this news release. FOR FURTHER INFORMATION PLEASE CONTACT:
|