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Canplats drills 206 m of 1.34 g/t Au at Camino Rojo


2008-07-31 06:53 ET - News Release

Mr. Gordon Davis reports

CANPLATS RESOURCES CORPORATION: REPRESA ZONE MINERALIZATION EXTENDED AND REMAINS OPEN

Canplats Resources Corp. has released the results of 12 reverse circulation drill holes completed in the Represa zone of the Camino Rojo project in the state of Zacatecas, Mexico.

Significant results include:


Further confirmation and expansion of near-surface mineralization in the northeast part of the Represa zone. Drill holes CR-90 through to CR-92 intersected broad intervals up to 246 metres averaging 0.96 gram per tonne gold, 13.71 grams per tonne silver, 0.32 per cent lead and 0.42 per cent zinc in CR-91, while drill hole CR-89 extended the Represa zone mineralization 100 metres to the east of previous drilling.
Additional strong sulphide mineralization in drill holes CR-83 and CR-84 in the southwestern part of the Represa zone. Drill hole CR-83 intersected 206 metres averaging 1.34 grams per tonne gold, 7.65 grams per tonne silver, 0.11 per cent lead and 0.23 per cent zinc, including 62 metres averaging 3.10 grams per tonne gold, 11.38 grams per tonne silver, 0.16 per cent lead and 0.40 per cent zinc.

Reverse circulation drill results are summarized in the attached table.


Hole From To Interval Gold Silver Lead Zinc
No. (metres) (metres) (metres) (g/t) (g/t) (%) (%)

CR-82 12 300 288 0.52 11.33 0.17 0.47
incl 190 274 84 1.09 13.17 0.14 0.67
CR-83 194 400 206 1.34 7.65 0.11 0.23
incl 274 336 62 3.10 11.38 0.16 0.40
CR-84 168 364 196 1.00 14.53 0.22 0.42
CR-85 0 260 260 0.44 12.44 0.26 0.39
CR-86 6 210 204 0.83 15.61 0.25 0.56
CR-87 90 198 108 0.45 8.46 0.20 0.18
CR-88 200 290 90 0.39 10.08 0.18 0.45
CR-89 64 300 236 0.76 12.11 0.27 0.30
CR-90 4 300 296 0.81 17.40 0.32 0.45
incl 66 136 70 1.27 26.41 0.40 0.35
CR-91 18 264 246 0.96 13.71 0.32 0.42
CR-92 52 256 204 0.91 17.15 0.32 0.41
incl 106 182 76 1.58 31.29 0.55 0.63


Assay results have now been released for all 92 reverse circulation drill holes at the Camino Rojo project. The company has completed its 22-hole phase 1 diamond drilling program at the Represa-Don Julio zones, and further assay results will be announced when they are received and compiled. All reverse circulation and diamond drill hole assay data for the Represa zone will be incorporated into an initial independent resource estimate, which is expected to be completed this fall. Mineralization at the Represa zone remains open to the east, west and to depth. The company is currently compiling and interpreting all geological and assay data from more than 38,000 metres of drilling that has been completed in the Represa-Don Julio areas since the first hole was collared in late October, 2007.

Four large-diameter metallurgical core holes have also been drilled in the Represa zone and a program of metallurgical testwork has been initiated. Preliminary test results are expected by year-end.

The company is continuing with its reconnaissance-style exploration program on priority targets within the 340,000-hectare Camino Rojo project. This program includes tensor IP geophysical surveys to the southwest and southeast of the Represa-Don Julio zones. An initial two-hole diamond drill test of geophysical targets is now under way.

The company has initiated negotiations to purchase surface rights in the vicinity of the Represa-Don Julio areas. The Camino Rojo property is 100 per cent owned by Canplats and located in an area of excellent infrastructure, 50 kilometres to the southeast of Goldcorp's Penasquito mine.

All work is being supervised by Ken McNaughton, vice-president, exploration, and a qualified person as defined by Canada's National Instrument 43-101. Mr. McNaughton is responsible for the Camino Rojo exploration program and has verified the data in the attached table. All samples were submitted for preparation in Guadalajara, Mexico, and analysis at its facilities in Vancouver, B.C., by ALS Chemex. All samples were analyzed using aqua regia digestion with ICP finish. All gold samples were fire assayed with an AA finish and all samples over 10 parts per million gold were reassayed using a fire assay with a gravimetric finish. Samples over 100 parts per million silver were reanalyzed using four-acid digestion with an ore-grade AA finish. One in 20 samples was blind duplicate assayed at ALS Chemex in Vancouver, B.C.

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