Capella Announces Details of Gold Intersections of Lajitas Drill Program
VANCOUVER, British Columbia--(BUSINESS WIRE)--Capella Resources Ltd. (TSX-V:CPS) ("Capella" or the "Company") is pleased to announce details from its Phase I drilling program on the Company's 100% owned Lajitas Gold Project located in northern Chile.
The reverse circulation drill program has yielded significant intersections of gold mineralization including 192 meters @ 0.72 g/t gold from drill hole LJ06007r, 116 meters @ 0.88 g/t gold from drill hole LJ06001r, and 92 meters @ 0.95 g/t gold from drill hole LJ06002r. A total of 1,709m were drilled over seven holes.
The primary objective of the program was to confirm the presence of a gold resource outlined by Minera Santa Fe Pacific Ltda in 1996. Workers of this company disclosed a noncompliant NI 43-101 "indicated" resource of 348,000 oz gold based upon 14 drill holes and 2,674 meters of reverse circulation drilling. The historical database consisted only of 2D drill collar locations, hole attitudes, and uncorroborated assays.
All holes drilled in the 2006 program intersected significant broad zones of low-grade gold mineralization of similar tenor as encountered by Santa Fe. Lateral extent of known zones of mineralization was expanded upon.
Currently the Company's geologists are 3D modeling the Lajitas mineralization in preparation of a new resource calculation and a Phase II drill program.
Assay Integrity Analysis
All samples were sent to the ALS Chemex Lab in La Serna, Chile for assay. Regression charts of duplicate and replicate samples verses original samples illustrate a high degree of correlation. Background (mean value) for all sample assays is 280 ppb Au.
Subsequent to the initial analysis for gold, the Company has submitted key intervals for multi-element analysis that include silver and copper.
Cautionary Statement
Readers are cautioned that while the historical resource estimates quoted herein are considered to be relevant, they are based on publicly available sources and do not comply with the guidelines of National Instrument 43-101 as they are not mineral resource estimates verified by a Qualified Person. Readers should not rely upon these historical estimates until they can be verified by a National Instrument 43-101 compliant study which the Company intends to carry out in due course.
About Capella Resource Ltd.
Capella is a junior exploration company currently exploring for a world class gold deposit on its Tinton Gold Property located 15 kilometres west-northwest of the historic Homestake Mine in the Black Hills of South Dakota. In its 125 year history the Homestake Mine produced more than 40 million ounces of gold. With a team of ex-Homestake professionals, Capella has intensified its search for another giant. Capella is currently obtaining the necessary environmental and exploration permits in preparation of a possible February 2007 drill start-up given drill rig availability.
The Company is also active in the Maricunga Gold and Copper District of northern Chile. It has recently completed a phase 1 drill program at its Lajitas Property (Dorado) in the Maricunga.
The Company holds a 100% interest in all of its properties.
For further information, please contact Mr. Richard Bachman, President and Chief Geological Officer at 775-721-8883 or visit the Company's website located at www.capellaresources.com.
CAPELLA RESOURCES LTD.
Per:
R.A. Bruce McDonald, Director and Chairman of the Board
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contacts
Capella Resources Ltd.
President and Chief Geological Officer
Mr. Richard Bachman, 775-721-8883
www.capellaresources.com
The reverse circulation drill program has yielded significant intersections of gold mineralization including 192 meters @ 0.72 g/t gold from drill hole LJ06007r, 116 meters @ 0.88 g/t gold from drill hole LJ06001r, and 92 meters @ 0.95 g/t gold from drill hole LJ06002r. A total of 1,709m were drilled over seven holes.
The primary objective of the program was to confirm the presence of a gold resource outlined by Minera Santa Fe Pacific Ltda in 1996. Workers of this company disclosed a noncompliant NI 43-101 "indicated" resource of 348,000 oz gold based upon 14 drill holes and 2,674 meters of reverse circulation drilling. The historical database consisted only of 2D drill collar locations, hole attitudes, and uncorroborated assays.
All holes drilled in the 2006 program intersected significant broad zones of low-grade gold mineralization of similar tenor as encountered by Santa Fe. Lateral extent of known zones of mineralization was expanded upon.
Currently the Company's geologists are 3D modeling the Lajitas mineralization in preparation of a new resource calculation and a Phase II drill program.
Assay Integrity Analysis
All samples were sent to the ALS Chemex Lab in La Serna, Chile for assay. Regression charts of duplicate and replicate samples verses original samples illustrate a high degree of correlation. Background (mean value) for all sample assays is 280 ppb Au.
Subsequent to the initial analysis for gold, the Company has submitted key intervals for multi-element analysis that include silver and copper.
Cautionary Statement
Readers are cautioned that while the historical resource estimates quoted herein are considered to be relevant, they are based on publicly available sources and do not comply with the guidelines of National Instrument 43-101 as they are not mineral resource estimates verified by a Qualified Person. Readers should not rely upon these historical estimates until they can be verified by a National Instrument 43-101 compliant study which the Company intends to carry out in due course.
About Capella Resource Ltd.
Capella is a junior exploration company currently exploring for a world class gold deposit on its Tinton Gold Property located 15 kilometres west-northwest of the historic Homestake Mine in the Black Hills of South Dakota. In its 125 year history the Homestake Mine produced more than 40 million ounces of gold. With a team of ex-Homestake professionals, Capella has intensified its search for another giant. Capella is currently obtaining the necessary environmental and exploration permits in preparation of a possible February 2007 drill start-up given drill rig availability.
The Company is also active in the Maricunga Gold and Copper District of northern Chile. It has recently completed a phase 1 drill program at its Lajitas Property (Dorado) in the Maricunga.
The Company holds a 100% interest in all of its properties.
For further information, please contact Mr. Richard Bachman, President and Chief Geological Officer at 775-721-8883 or visit the Company's website located at www.capellaresources.com.
CAPELLA RESOURCES LTD.
Per:
R.A. Bruce McDonald, Director and Chairman of the Board
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contacts
Capella Resources Ltd.
President and Chief Geological Officer
Mr. Richard Bachman, 775-721-8883
www.capellaresources.com
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