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Message: Positive Initial Metallurgical Results From Camino Rojo Project

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Positive Initial Metallurgical Results From Camino Rojo Project

posted on Jan 19, 09 01:51AM

January 19, 2009

Canplats Resources Corporation: Positive Initial Metallurgical Results From Camino Rojo Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2009) - Canplats Resources Corporation (TSX VENTURE:CPQ) is pleased to announce the results of 18 column leach tests from the Represa Zone at its 100% owned Camino Rojo project located in the State of Zacatecas, Mexico. These test results indicate that near-surface oxide mineralization at the Represa Zone is amenable to simple and cost effective heap leach processing methods.

Highlights of the column leach tests indicate:

- Gold recoveries are relatively insensitive to crush size and average 76% for oxide mineralization at a comparatively coarse 3/4 inch feed size;

- Gold recoveries of up to 62% from transitional oxide/sulphide mineralization; and

- Moderate cyanide and lime consumption.

The column tests were completed by SGS Minerals Services in Durango, Mexico, a subsidiary of SGS Lakefield Research Laboratory. Column tests were conducted over a 95 day period using samples from large diameter drill core crushed to feed sizes varying from 1 1/2 inches to 3/8 inches.

Oxide Column Test Results:

--------------------------------------------------------------------------
                        Calculated Head
                                  Grade         Extraction     Consumption
              Crush     ---------------    ---------------    ------------
               Size      Gold    Silver     Gold    Silver    NaCN     CaO
Column      (inches)     (g/t)     (g/t)      (%)       (%)  (kg/T)  (kg/T)
--------------------------------------------------------------------------
CRM-06-1      1 1/2     0.672      8.27    72.59     12.84    0.66    2.29
--------------------------------------------------------------------------
                3/4     0.603      9.36    73.31     14.91    0.87    3.34
--------------------------------------------------------------------------
                3/8     0.537      9.00    73.65     19.02    0.81    4.28
--------------------------------------------------------------------------

--------------------------------------------------------------------------
CRM-06-2/3    1 1/2     1.952     10.63    83.66     12.05    0.79    2.36
--------------------------------------------------------------------------
                3/4     1.794     11.51    86.60     21.23    0.99    2.81
--------------------------------------------------------------------------
                3/8     1.795     11.58    86.49     25.27    1.23    4.60
--------------------------------------------------------------------------

--------------------------------------------------------------------------
CRM-14-1      1 1/2     0.508     19.24    62.14     30.39    0.78    3.00
--------------------------------------------------------------------------
                3/4     0.486     18.01    64.14     32.29    0.62    3.30
--------------------------------------------------------------------------
                3/8     0.486     18.01    61.81     28.06    0.91    4.30
--------------------------------------------------------------------------

--------------------------------------------------------------------------
CRM-20-1      1 1/2     0.369     14.09    65.15     23.16    0.58    2.63
--------------------------------------------------------------------------
                3/4     0.338     17.94    78.08     23.21    0.55    2.31
--------------------------------------------------------------------------
                3/8     0.359     15.26    74.81     30.88    0.71    3.55
--------------------------------------------------------------------------


Transitional Column Test Results:

--------------------------------------------------------------------------
                        Calculated Head
                                  Grade         Extraction     Consumption
              Crush     ---------------    ---------------    ------------
               Size      Gold    Silver     Gold    Silver    NaCN     CaO
Column      (inches)     (g/t)     (g/t)      (%)       (%)  (kg/T)  (kg/T)
--------------------------------------------------------------------------
CRM-14-2      1 1/2     0.431     15.51    34.74     33.71    0.67    1.59
--------------------------------------------------------------------------
                3/4     0.446     13.63    36.35     38.95    0.61    1.44
--------------------------------------------------------------------------
                3/8     0.387     15.33    33.13     44.15    0.81    2.53
--------------------------------------------------------------------------

--------------------------------------------------------------------------
CRM-20-2      1 1/2     0.593     21.51    55.20     30.54    0.54    1.55
--------------------------------------------------------------------------
                3/4     0.585     28.58    62.39     31.74    0.47    1.48
--------------------------------------------------------------------------
                3/8     0.589     22.35    60.51     50.87    0.84    2.83
--------------------------------------------------------------------------

Additional testwork is planned for both oxide and transitional mineralization, as well as initial metallurgical studies for sulphide mineralization.

A recent independent resource estimate confirmed measured and indicated resources of 3.44 million ounces of gold and 60.7 million ounces of silver at the Represa Zone, with additional inferred resources of 0.56 million ounces of gold and 7.6 million ounces of silver. Mineralization remains open for further expansion in both strike directions and to depth. Reconnaissance exploration is underway to identify new target areas within the 340,000 hectare (more than 1,300 square mile) Camino Rojo property.

The Represa Zone is situated in flat terrain within an area of excellent infrastructure, less than 5 kilometers from a paved highway and high voltage power lines. It is located 50 kms to the southeast of Goldcorp's large-scale Penasquito Mine.

Ken McNaughton, P.Eng., is the qualified person responsible for the Camino Rojo exploration program.

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