TORONTO, ONTARIO - (Marketwire - Nov. 28, 2007) - Carpathian Gold Inc. (TSX:CPN) ("the Corporation") is providing an update on the 2007 drilling activities at the Rovina and Colnic porphyry deposits, located approximately 2.5 km apart on its 100% owned Rovina Exploration License in central Romania. The drilling program being reported on is a combined program of infill drilling to upgrade resource categories as well as drilling to extend and delineate the mineralized zones to determine the deposit boundaries.
At the Rovina Cu-Au porphyry, highlight intersections for resource category upgrade include infill drill holes RRD-41 and RRD-45, where porphyry style Cu + Au mineralization was intersected over the entire drill intersections:
- 301 m of 0.41 g Au/t and 0.26% Cu (0.90 g/t gold equivalent ("g Au-eq/t") or 0.48% copper equivalent ("% Cu-eq.")) in drill hole RRD-45
-- including 234 m of 0.43 g Au/t and 0.30 % Cu (1.00 g Au-eq/t. or 0.53% Cu- eq.)
- 263 m of 0.27 g Au/t and 0.26% Cu (0.76 g Au-eq/t or 0.40% Cu-eq.) in drill hole RRD-41
-- including 48 m of 0.41 g Au/t and 0.33 % Cu (1.04 g Au-eq/t or 0.55% Cu- eq.) in drill hole RRD-41.
- Drill holes RRD-34 and RRD-36 encountered good Cu+Au mineralization that was not anticipated and indicate that the deposit is open to the north and northwest and drill holes RRD-33 and RRD-35 encountered above cut-off grade mineralization and indicate that the mineralization continues to the southwest along a 600 m strike length.
Note: Gold (Au-eq) and copper (Cu-eq) equivalents utilize gold at US$450/oz and copper at US$1.25/lb to be consistent with previous reported results.. Metallurgical recoveries are not considered.
At the Colnic Au-Cu porphyry, highlight intersections include in-fill drill holes RCD-72 and RCD-71, located in the Rovina Valley zone of the grid drill pattern, which intersected:
- 189 m of 0.71 g Au/t and 0.14% Cu (0.98 g Au-eq/t) in drill hole RCD-72
-- including 146 m of 0.85 g Au/t and 0.18% Cu (1.18 g Au-eq/t)
- 140 m of 0.80 g Au/t and 0.12% Cu (0.1.03 g Au-eq/t) in drill hole RCD-71
Note: Gold (Au-eq) and copper (Cu-eq) equivalents utilize gold at US$450/oz and copper at US$1.25/lb to be consistent with previous reported results.. Metallurgical recoveries are not considered.
Dino Titaro, President and CEO of the Corporation commented: "The most recent drill program results, which were focused primarily on in-fill and delineation drilling, continue to return significant gold and copper intercepts at both the Rovina and Colnic Porphyries which will further enhance and upgrade our initial Mineral Resource estimate, dated May 29, 2007 and announced at that time. In addition, drilling at the Rovina porphyry indicates that this deposit is still open and that a further large amount of drilling will still be required to determine its ultimate size. Drilling on the Rovina License is continuing, and will be stopped for a short period during the holiday season and will resume in January 2008".
Rovina Porphyry
The objective of the Corporation's drilling program in 2007 at the Rovina porphyry is to upgrade the bulk of the initial N.I. 43-101 Resource Estimate of 144.1 Million tonnes (press release dated May 29th, 2007) from the inferred category to the measured plus indicated categories and define further inferred resources as well as test open extensions to the mineralization. In-fill drilling in the main porphyry body at Rovina has identified a gold enriched zone with results from drill hole RRD-45 (234 m of 1.00 g Au-eq/t, 0.53% Cu-eq) continuing to support the high grade gold tenor of this core zone.
Recent drilling in the 'Gap Area' between the main Rovina porphyry body and the satellite Baroc Valley porphyry along a Northeast-Southwest trend has intersected above cut-off grades in drill holes RRD-35 (362 m at 0.34% Cu-eq) and RRD-33. These drill results together with previously reported results are suggesting continuous Cu-Au mineralization along the Baroc-Rovina trend over 600 metres. The continuity of mineralization in the 'Gap Area' is encouraging as it indicates the potential for a single large open-pit along the Baroc-Rovina trend.
Recent drilling to the northwest of the main Rovina porphyry body has intercepted strong Cu-Au mineralization in RRD-34 (239 m of 0.40% Cu-eq) and RRD-36 indicating open mineralization to the northwest, which was previously unrecognized.
Further drilling is ongoing and will test the open mineralization to the north and northwest and infill drilling in the southwestern extension. Drilling is also planned along the Baroc-Rovina trend in the 'Gap Area' to further define the grade and continuity of the mineralization. In addition, angle drill holes are underway within the main porphyry body to test for extensions of the gold enriched zone along the Baroc-Rovina trend and provide further geological information for resource modeling.
A listing of the drill hole results completed during this phase to date (holes RRD-33 to RRD-41 and RRD-45) can be found at the end of this press release along with drill hole descriptions. The drill hole locations can be found on the Corporation's web site at www.carpathiangold.com.
Colnic Porphyry
The objective of the Corporation's drilling program in 2007 at the Colnic porphyry is to upgrade the initial N.I. 43-101 Resource Estimate of 68.0 million tonnes of Indicated Resource and 16.2 million tonnes of Inferred Resource (see Resource Estimate press release dated May 29th, 2007) within the higher grade Rovina Valley zone from Indicated to the Measured category and to define the mineralized edges of the porphyry body and in addition to test for satellite extensions/zones.
Infill drill holes in the higher grade Rovina valley zone have confirmed the grade and continuity of this zone with results from RCD-72 (121 m at 1.36 g Au-eq/t), RCD-71 (140 m at 1.03 g Au-eq/t), RCD-67 (201.7 m at 1.02 g Au-eq/t) and RCD-65 (82 m at 0.80 g Au-eq/t).
Drill holes RCD-64 and RCD-66 tested depth extensions and intersected above cutoff grades (0.40 g Au-eq/t utilized in the initial Resource Estimate. Drill holes RCD-62, RCD-63, RCD-68, RCD-69, and RCD-70 have tested margins of the Colnic porphyry body with weak mineralization suggesting the edges' of the Colnic porphyry in these areas are being defined.
Further drilling at Colnic will focus on in-filling zones for resource category upgrade, defining the currently open northern limit of the deposit, and testing satellite geochemistry anomalies.
A listing of the drill hole results completed during this phase to date (holes RCD-62 to RCD-72) can be found at the end of this press release along with target descriptions. The drill hole locations can be found on the Corporation's web site at www.carpathiangold.com.
Other Targets
As previously announced, generative exploration field work at the Ciresata porphyry target located approximately 4 km south of the Colnic porphyry has identified an alteration system and geophysical magnetic signature indicative of a porphyry system. A drill rig is being mobilized to this target to begin a scout drilling campaign before the holiday break.
The Corporation's generative exploration program in the vicinity of the Rovina License has identified additional targets with epithermal and porphyry style mineralization.
In Hungary, on the 100% owned Fuzerradvany License, 5 diamond drill holes from an ongoing drill program initiated in October have been completed to evaluate the shallow-level epithermal (hot-springs style) gold potential of this project area. Assays from the completed drill holes are pending.
Sample Protocol
All samples collected from any program in the country are prepared and analyzed at the independent Rom Analize SRL Laboratory in Gura Rosiei, Romania, owned and operated by ISO Certified ALS-Chemex Laboratory, using industry standard fire assay techniques for gold on 50-gram sample charges with AAS finish. Copper is analyzed using the industry-standard method of aqua-regia digest on a 0.40 -gram sub sample with an AAS finish. Coarse blanks, pulp blanks, pulp duplicates, core twins and known gold and copper standards are inserted on a routine basis. They consist of 15 per cent of submitted samples. For the current drill program a minimum of 3% of sample pulps are analyzed at the ISO Certified OMAC Laboratory in Ireland, for check assays. The drill assays reported in this press release are from split HQ and NQ size diamond core with the remaining half retained for reference. All holes are sampled on a one-metre interval from top to the end of the hole.
A rigorous QA/QC program has been developed for the project since the announcement of the discovery holes and has been monitored and continues to be monitored by AMEC Americas Ltd.
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.
The Corporation is a mineral exploration company focused on gold and copper exploration primarily on its properties in Romania.
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.
Drill hole intersections for Rovina Holes RRD-33 to RRD-41 and RRD-45
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Au Cu
Drill Fence(ii) From To Length Au Cu eq(i) eq.(i)
Hole (m) (m) (m) (g/t) (%) (g/t) (%)
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RRD-33 860 N 77 154 77 0.13 0.14 0.40 0.21
Including 102 133 31 0.20 0.21 0.60 0.32
305 516.7 (eoh) 211.7 0.12 0.17 0.44 0.23
--------------------------------------------------------------------
RRD-34 1076 N 0 460 460 0.22 0.25 0.70 0.37
Including 0 239 239 0.23 0.28 0.75 0.40
and 13 104 91 0.29 0.35 0.96 0.50
and 76 102 26 0.36 0.34 1.01 0.53
--------------------------------------------------------------------
RRD-35 793 N 135 497 362 0.24 0.21 0.64 0.34
including 160 242 82 0.35 0.25 0.83 0.43
And 315 358 43 0.37 0.29 0.92 0.48
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RRD-36 1000 N 20 309 289 0.14 0.20 0.52 0.27
Including 20 137 117 0.19 0.24 0.65 0.34
and 41 65 24 0.24 0.32 0.85 0.45
--------------------------------------------------------------------
RRD-37 530 N 244 267 23 0.26 0.07 0.39 0.21
--------------------------------------------------------------------
RRD-38 1036 N NSA
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RRD-39 1114 N 290 501 (eoh) 211 0.17 0.20 0.55 0.29
335 392 57 0.25 0.25 0.73 0.38
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RRD-40 530 N NSA
--------------------------------------------------------------------
RRD-41 1076 N 6 550 (eoh) 544 0.23 0.23 0.67 0.35
Including 287 550 (eoh) 263 0.27 0.26 0.76 0.40
and 124 152 28 0.38 0.45 1.22 0.65
and 301 453 152 0.28 0.28 0.81 0.43
and 405 453 48 0.41 0.33 1.04 0.55
--------------------------------------------------------------------
RRD-45 1076 N 108 409 301 0.41 0.26 0.91 0.48
Including 117 351 234 0.43 0.30 1.00 0.53
and 117 212 95 0.50 0.43 1.32 0.70
--------------------------------------------------------------------
eoh equals end of hole; NSA equals no significant assays
(ii)Further drill hole details i.e. Azimuth, declination and total depth are shown in Drill Hole Descriptions table below.
(i) Au & Cu Equivalent - utilizes gold at US $450/oz and copper at US $1.25/lb. Metallurgical recoveries not considered. A plan map of all drill hole locations to date can be found on the corporate website www.carpathiangold.com.
Note: Drill holes RRD-42, RRD-43, RRD-44, RRD-46 and RRD-47 have been completed for 2,401 cumulative metres and have assays pending.
Drill hole intersections for Colnic Holes RCD-62 to RCD-71
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Length Au Au eq(i)
Drill Hole Fence(ii) From (m) To (m) (m) (g/t) Cu(%) (g/t)
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RCD-62 480 N 298 343 45 0.29 0.07 0.42
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RCD-63 600 N 78 114 36 0.48 0.01 0.51
Including 78 94 16 0.90 0.01 0.92
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RCD-64 740 N 264 531(eoh) 267 0.17 0.08 0.32
Including 280 354 74 0.26 0.09 0.43
and 326 354 28 0.28 0.10 0.47
--------------------------------------------------------------------
RCD-65 1120 N 145 360(eoh) 215 0.48 0.07 0.62
Including 147 266 119 0.59 0.07 0.73
and 178 260 82 0.65 0.08 0.80
and 178 192 14 1.05 0.1 1.23
--------------------------------------------------------------------
RCD-66 1050 N 152 455(eoh) 303 0.35 0.06 0.46
Including 321 422 101 0.49 0.08 0.63
and 321 343 22 0.73 0.08 0.88
--------------------------------------------------------------------
RCD-67 1000 N 7.3 209 201.7 0.80 0.12 1.02
Including 20 89 69 0.94 0.14 1.21
and 153 209 56 0.89 0.13 1.14
258 329 71 0.74 0.12 0.97
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RCD-68 940 N 72 145 73 0.09 0.18 0.43
261 273 12 0.52 0.02 0.53
--------------------------------------------------------------------
RCD-69 810 N 239 250 11 0.45 0.07 0.58
--------------------------------------------------------------------
RCD-70 880 N 18 24 6 0.34 0.09 0.51
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RCD-71 880 N 63 270(eoh) 207 0.67 0.11 0.88
Including 81 221 140 0.80 0.12 1.03
and 120 179 59 0.96 0.13 1.21
and 130 151 21 1.21 0.16 1.51
--------------------------------------------------------------------
RCD-72 940 N 12 201(eoh) 189 0.71 0.14 0.98
Including 12 158 146 0.85 0.18 1.18
and 12 121 109 0.98 0.20 1.36
and 45 94 49 1.14 0.24 1.59
--------------------------------------------------------------------
eoh equals end of hole
(ii)Further drill hole details i.e. Azimuth, declination and total depth are shown in Drill Hole Descriptions table below.
(i) Au Equivalent - utilizes gold at US$450/oz and copper at US$1.25/lb. Metallurgical recoveries not considered. A plan map of all drill hole locations to date can be found on the corporate website www.carpathiangold.com.
Note: Drill holes RCD-73 to RCD-84 (12 drill holes), for 3699.6 cumulative metres have assays pending.
Reported-Drill-Hole Descriptions
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Drill Hole Drill Azimuth Declination T.D. Target
Fence (Degrees) (Degrees) (m)
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Deep K-2 Target near
RCD-62 480N 238 -69 402 Chubbys Fault
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Hill: Deep K-2 Target
RCD-63 600N 232 -64 381.5 near Chubbys Fault
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Hill: Depth extension
RCD-64 740N 228 -82 531 on NE margin
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NW part of deposit:
RCD-65 1120N 140 -55 360 NW extension test
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In Valley: Depth
extension on NE
RCD-66 1050N 235 -78 455 margin
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In valley: Depth
RCD-67 1000N 235 -50 426 extension below RCD-1
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Test satellite soil
geochem anomaly
RCD-68 940N 230 -53 300 NE of Colnic porphyry
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Test satellite soil
geochem anomaly NE
RCD-69 810N 235 -55 300 of Colnic porphyry
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In Rovina Valley; test
RCD-70 880N 237 -65 250 SW alteration margin
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Infill within Rovina
RCD-71 880N 323 -55 270 Valley zone
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Infill within Rovina
RCD-72 940 N 325 -44 201 Valley zone
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Colnic Drill Metres Reported 3,876.5
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Gap Zone in Baroc
RRD-33 860N 323 -77 516.7 Valley
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Rovina Por.:
RRD-34 1076N 0 -90 498 NW extension
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Gap Zone in Baroc
RRD-35 793N 322 -76 504 Valley
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Rovina Por.:
RRD-36 1000N 0 -90 551 NW extension
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Exploration step-out
RRD-37 530N 325 -65 476 to SW of Baroc Por.
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Rovina Por. Apophyses:
RRD-38 1036N 0 -90 501 SE Extension
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Test zone between
main Por. and SE Por.
RRD-39 1114N 0 -90 501 Apophyses
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Exploration step-out
RRD-40 530N 330 -70 500 to SW of Baroc Por.
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Rovina Porphyry: SE
extension of high
RRD-41 1076N 0 -90 550 grade zone
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Rovina Porphyry:
NE infill of high
RRD-45 1076N 0 -90 409 grade zone
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Rovina Drill Metres Reported 5,006.7
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Rovina and Colnic Drill Metres
Reported 8,883.2
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Note: RRD-xx drill holes from the Rovina Porphyry; RCD-xx drill holes from the Colnic Porphyry
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
Email: ericleboeuf@paradox-pr.ca
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