DGAP-News: EXCALIBUR INITIATES EXPLORATION PROGRAM AT CATANAVA
(firmenpresse) - DGAP-News: Excalibur Resources Ltd. / Key word(s): Miscellaneous
EXCALIBUR INITIATES EXPLORATION PROGRAM AT CATANAVA
17.10.2012 / 08:57
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Toronto CNSX: XBR
Frankfurt: X9CN
EXCALIBUR INITIATES EXPLORATION PROGRAM AT CATANAVA
Excalibur Resources Ltd. ('Excalibur' or the 'Company') (Toronto, Canada)
is pleased to announce that it has initiated a regional exploration work
program on the claims owned by its 49% owned subsidiary Minera Catanava
S.A. de C.V. ('Catanava') which is 51% owned by Minera Apolo S.A de C.V. In
parallel with the results of 'bulk samples' processed through the recently
completed gravimetric plant, the focus of the work program is to
systematically map, sample and drill the current areas of mining, namely
the Camino and San Gil veins, as well as the future areas of production and
mineralized zones in order to establish an NI 43-101 compliant resource.
Continuous chip channel sampling of veins in underground workings and at
surface will be a key component of the work program.
The Catanava mineralization has characteristics similar to epithermal-style
low-sulphidation gold deposits, such as the gold association with
structurally controlled quartz veins, the style of alteration zonation of
strong silicification and argillic assemblages, ginguro, banded and blade
quartz textures, association with silver, etc. The Catanava project is
located in the historic Bonanza-Gold District of Pinos, Zacatecas within
the prolific Fresnillo - Guanajuato Trend, where several companies
discovered world-class epithermal deposits, such as: Juanicipio
(Fresnillo-MAG Silver), Real de Angeles (Minera Frisco), El Cubo (Aurico
Gold) and Bolañitos (Endeavour Silver) which can be viewed at
http://www.excaliburresources.ca/i/pdf/Catanava_Map_Regional_Mineralized_T
rends_1.pdf
'The Pinos District has the potential for the discovery of a major gold
deposit, but the gold is erratically distributed in narrow veins. As such
our strategy is to 'bulk sample' material through the plant in order to
more accurately determine grade of individual veins before systematic
drilling to define tonnage', commented, Tim Gallagher, Chairman and CEO.
Method of Analysis/Quality Control
Samples are prepared at the ALS Chemex Lab facility in Zacatecas, México,
and analyzed by ICP and AA methods at their facilities in Vancouver,
Canada. Samples are assayed for Au and Ag on 50 g split fire assay with AA
finish. Assays for multi-elements, including Pb, Zn and Cu are processed by
Induction Coupled Plasma (ICP). The quality assurance-quality control
(QA/QC) consists of systematic insertion of standards and blanks and
collection of field duplicate samples.
Charles Beaudry, P.Geo. is a 'Qualified Person' for the purpose of National
Instrument 43-101, and has reviewed and verified the contents of this news
release.
Excalibur Resources Ltd. is a junior exploration mining company focused on
the discovery, development and mining of economically viable precious metal
resources.
On behalf of the Board of Directors:
'Tim Gallagher'
Chairman&CEO
For more information please contact:
Tel: 416-987-0298
Email: info(at)excaliburresources.ca
Website: www.excaliburresources.ca
Neither the Canadian National Stock Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of this
release.
End of Corporate News
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189024 17.10.2012
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