Lero Gold Corp. Announces 43-101 Compliant Resource Estimate for Karchiga VMS Project, Kazakhstan
23 4월 2008 - 1:12AM
Marketwired
LONDON, UNITED KINGDOM (TSX VENTURE: LER) is pleased to report a
National Instrument 43-101 compliant resource estimate for its
Karchiga VMS deposit northeast Kazakhstan.
The resource incorporates the 1,879m of confirmation diamond
drilling completed by Lero in Q4 2007 and 86 historical Soviet
diamond drillholes and trenches totalling 10,330m. At a 0.50%
copper cut-off, the Indicated resource is 4.75Mt @ 2.46% Cu while
the Inferred resources total 2.81Mt @ 1.81% Cu.
Table 1: Karchiga Copper Project, Resource estimate April 2008;
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Indicated Sulphide Inferred Oxide Inferred Sulphide
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Cut-off Tonnes Cu Copper Tonnes Cu Copper Tonnes Cu Copper
(%) Cu (Mt) (%) (Mlb) (Mt) (%) (Mlb) (Mt) (%) (Mlb)
----------------------------------------------------------------------------
0.3 5.10 2.32 261 0.86 1.30 26.9 2.21 1.77 86.5
----------------------------------------------------------------------------
0.5 4.75 2.46 258 0.71 1.49 26.3 2.10 1.85 86.3
----------------------------------------------------------------------------
Karchiga Central lodes contain 4.75Mt @ 2.46% Cu of the resource
within sulphide (Indicated) and 0.71Mt @ 1.49% Cu within oxide
(Inferred) material at a 0.50% Cu cut-off. The balance of the
resource is contained within an Inferred sulphide resource at
Karchiga northeast. The north eastern lodes, which are blind to
surface, are located some 200m across strike and lie 150m
stratigraphically above the Karchiga Central mineralised zone.
The mineralisation is located within a series of stacked
shallow-dipping massive and disseminated sulphide bodies, primarily
consisting of chalcopyrite-pyrrhotite and pyrite mineralisation.
The lodes have a strike of in excess of 1km and are intersected at
depths reaching 200m. The majority of the high grade sulphide
mineralisation is concentrated within 100m from surface. Indication
of the presence of easterly-plunging higher grade copper shoots is
evident from the modelling completed to date and follow-up drilling
is planned to evaluate the down dip potential during the 2008 field
season.
The resource was calculated using Ordinary Kriging on composite
drillhole samples selected within a 0.5% Cu wireframe. All
wireframe models were constructed from interpretation of geology
and grade boundaries and used to assign block categories within the
grade interpolation model. Material types and samples data was
subsequently extracted and subset within discrete lodes and grade
interpolation constrained to each individual lode separately. A
total of seven separate wireframes were constructed to constrain
drillhole data. Specific gravity measurements were carried out for
the different material types collected from Karchiga diamond drill
core and an in-situ bulk density value assigned to the block
model.
CEO of Lero, Dr Alexander Yakubchuk commented:
"We are pleased to receive such positive results from our
initial resource calculation, generally in line with the historical
estimate and exceeding it in terms of tonnage. Not many current
exploration projects worldwide return such high copper grades,
amenable to potential open pit extraction. In addition, only 5% of
the entire licence territory was explored by Lero to date and we
still have a lot of further exploration potential based on
geochemical and geophysical anomalies within the licence
territory."
Chairman of Lero, Dr Sergey V. Kurzin commented:
"These results, indicating that Karchiga contains in excess of
258 million pounds (117,000 t) of high-grade copper metal, give us
a solid foundation for undertaking prefeasibility and scoping
studies in the immediate future, which, if prove positive, would
allow Lero to fast track the project to construction and production
within three years."
Notes to Editors:
1. Lero Gold Corporation (TSX VENTURE: LER) is a base and
precious metal exploration company led by a senior management team
with extensive expertise in mineral exploration and advanced
project management. Lero Gold is currently seeking and evaluating
advanced exploration stage gold and base metal projects in
Kazakhstan and Kyrgyzstan. The Company is currently exploring
advanced staged gold deposits in the Tien Shan gold belt in the
Kyrgyz Republic and Rudny Altai belt in the Republic of
Kazakhstan.
2. All work carried out on the resource estimate was compiled by
Matthew Boyes (Senior Geologist and a Qualified Person under
National Instrument 43-101). Resource estimation methodology has
been reviewed by Wardell Armstrong International. Assays are
conducted at the internationally certified Alex Stewart Lab in
Bishkek, Kyrgyzstan. Lero Gold Corporation operates a stringent
QA/QC policy that includes external certified standard samples and
blanks in each individual batch sent for analysis.
The TSX Venture Exchange does not accept responsibility for
adequacy or accuracy of this release.
Contacts: Lero Gold Corporation Alexander Yakubchuk CEO +44 (0)
20 7514 0590 Lero Gold Corporation Gavin Dallas Investor Relations
+44 (0) 20 7514 0590 Email: info@lerogold.com Website:
www.lerogold.com Vanguard Shareholder Solutions Keith Schaefer
(604) 608-0824 Bankside Consultants Michael Padley / Michael
Spriggs +44 (0) 20 7367 8888
Lero Gold Corp (TSXV:LER)
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