Karmin Exploration Update: 5,104 Metres of Diamond Drilling Completed at ARIPUANA Zinc Project, BRAZIL.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Karmin Exploration Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:KAR) is pleased to report the drilling status at the end of October October: see month. 2005 for its 28.5% owned Aripuana Aripuana is a plant genus in the Gentian family (Gentianaceae), tribe Helieae, subclade Symbolanthus. The genus is named after the Aripuana River in central Brazil where it is found. zinc zinc, metallic chemical element; symbol Zn; at. no. 30; at. wt. 65.38; m.p. 419.58°C;; b.p. 907°C;; sp. gr. 7.133 at 25°C;; valence +2. Zinc is a lustrous bluish-white metal. It is found in Group 12 of the periodic table. project, Brazil Brazil (brəzĭl`), Port. Brasil, officially Federative Republic of Brazil, republic (2005 est. pop. 186,113,000), 3,286,470 sq mi (8,511,965 sq km), E South America. . The information was provided by Karmin's joint venture partner and project operator, Votorantim Votorantim is a brazilian city located at the southwest of São Paulo State with an estimated population of 107,157 as of 2006. The city is located about 100 km away from the capital of the state. It has 147 km² of rural area, 30 km² of urban area and a total area of 177 km². Metais. As of 31st October, a total of 22 holes totaling 5,104 metres had been completed, representing 34% of the 15,000 metre metre In poetry, the rhythmic pattern of a poetic line. Various principles have been devised to organize poetic lines into rhythmic units. Quantitative verse, the metre of Classical Greek and Latin poetry, measures the length of time required to pronounce syllables, Phase 2 drilling program. Samples from the holes drilled in August, September September: see month. and October are being sent to the assay laboratories, and results will be released as soon as they are received from Votorantim. The program is fully funded by Votorantim. Karmin is not required to contribute to exploration or development, and is free carried until the delivery of a bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. . The attached table summarizes the Phase 2 program, including a summary of the 22 holes completed to date, as well as 17 proposed drill holes, which together total approximately 10,000 metres. The remaining 5,000 metres of drilling will be planned based on the results of the initial 10,000 metre program. The Phase 1 drilling completed in 2004 consisted of 8,600 metres of drilling and included 48.4 metres of 13.2% zinc, 5.5% lead and 100 g/t silver and 14.6 metres grading 18.5% zinc, 5.5% lead and 108 g/t silver (see release of September 27th, 2005). The current program is testing a number of new concepts, as well as infilling the known mineralizations, in preparation for recalculation re·cal·cu·late tr.v. re·cal·cu·lat·ed, re·cal·cu·lat·ing, re·cal·cu·lates To calculate again, especially in order to eliminate errors or to incorporate additional factors or data. of resources in early 2006. The objectives of the first 27 drill holes are as follows, where the early drilling focused on the Arex Lieutenant Arex, voiced by James Doohan, was a recurring character on which ran on NBC from 1973 to 1975. Arex was a Starfleet officer assigned to the U.S.S. Enterprise as Navigator. Arex was a member of a tripodal species (the Edosians) and had three arms and legs. area. 1. Arex Deposit - infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. drilling to upgrade the resource category and define detailed geometry geometry [Gr.,=earth measuring], branch of mathematics concerned with the properties of and relationships between points, lines, planes, and figures and with generalizations of these concepts. (Holes 20, 21, 23, 24, 25, 47, 49, 51, 52, 54, 55, 56) 2. Arex Deposit - Testing extension of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. (Holes 22, 26, 27, 48, 50) 3. Arex Deposit - Testing new gossan gos·san n. An exposed, oxidized portion of a mineral vein, especially a rust-colored outcrop of iron ore. [Cornish gossen, from g discoveries (Holes 58, 59) 4. Ambrex Deposit - Infill drilling (Hole 30) 5. Ambrex Deposit - Testing extension of mineralization (Holes 28, 29, 42, 53) 6. Ambrex Deposit - Testing new conductor conductor Any of various substances that allow the flow of electric current or thermal energy. A conductor is a poor insulator because it has a low resistance to such flow. (Hole 37) 7. Massaranduba Area - Testing new conductors (Holes 38, 39) A further 12 drill sites have been selected, of which 10 are in the Ambrex area and 2 at Arex. The regional soil and stream sampling programs announced in the last releases are ongoing. Karmin Exploration through its subsidiary Mineracao Rio Aripuana Ltda. owns 28.5% of the project, while SGV SGV San Gabriel Valley (California) SGV Sycip, Gorres, Velayo & Co (CPAs) SGV Soil Guideline Values SGV Shane Global Village (English language school) SGV Self Guided Vehicle Merchant Bank owns 1.5% of the project. The remaining 70% interest in the project is owned by Anglo American PLC Anglo American plc (LSE: AAL, JSE: ANGLO) is a world-wide group of companies, originally founded in South Africa as a mining enterprise but now extending into other areas. Natural resources remains the focus of its operations. (LSE LSE - Language Sensitive Editor :AAL (ATM Adaption Layer) The part of the ATM protocol that breaks up application packets into 48-byte payloads which become ATM cells when the 5-byte headers are attached. The AAL resides between the higher layer transport protocols and the ATM layer. ) and Votorantim Metais (NASQ:AAUK) is currently earning into Anglo American's interest. Karmin and SGV Merchant Bank's interests are carried until a bankable feasibility study is completed, at which time, Karmin and SGV Merchant Bank must contribute their pro-rata Pro-rata Used to describe a proportionate allocation. Notes: For example, a pro-rata dividend means that every shareholder gets an equal proportion for each share they own. See also: Dividend contributions towards bringing Aripuana into production. About Karmin Exploration: Karmin Exploration is a mineral exploration company focused on exploration and development in Brazil. Karmin is publicly traded on the TSX-Venture Exchange under the symbol KAR. The company has 33,190,434 shares outstanding and 34,790,434 fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. . William Fisher People named William Fisher include:
FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding production estimates and future plans and objectives of Karmin are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Completed and Planned Phase 2 Drilling - Aripuana Project, Brazil --------------------------------------------------------------------- Area Borehole Easting Northing Elev. Azim. --------------------------------------------------------------------- AREX FPAR020 225253 8888376 229.6 191.9 --------------------------------------------------------------------- AREX FPAR021 225507 8888381 270.6 178.2 --------------------------------------------------------------------- AREX FPAR023 225260 8888437 227.2 195.8 --------------------------------------------------------------------- AREX FPAR024 225208 8888469 225.3 12.1 --------------------------------------------------------------------- AREX FPAR025 225296 8888328 244.7 181.9 --------------------------------------------------------------------- AREX FPAR047 225503 8888261 257.1 182.0 --------------------------------------------------------------------- AREX FPAR049 225247 8888340 235.5 187.8 --------------------------------------------------------------------- AREX FPAR051 225186 8888291 238.7 183.6 --------------------------------------------------------------------- AREX FPAR052 225103 8888344 228.5 183.5 --------------------------------------------------------------------- AREX FPAR054 224770 8888690 180.6 180.8 --------------------------------------------------------------------- AREX FPAR055 224936 8888552 200.0 185.0 --------------------------------------------------------------------- AREX FPAR056 225112 8888492 200.0 184.0 --------------------------------------------------------------------- AREX FPAR022 225196 8888369 218.3 197.6 --------------------------------------------------------------------- AREX FPAR026 225296 8888442 239.6 192.9 --------------------------------------------------------------------- AREX FPAR027 225595 8888326 275.3 191.3 --------------------------------------------------------------------- AREX FPAR048 225294 8888501 263.7 181.6 --------------------------------------------------------------------- AREX FPAR050 225260 8888437 228.4 8.0 --------------------------------------------------------------------- AREX FPAR058 225207 8888055 200.0 188.0 --------------------------------------------------------------------- AREX FPAR059 225223 8888169 200.0 188.0 --------------------------------------------------------------------- AMBREX FPAR030 226205 8888045 346.3 212.0 --------------------------------------------------------------------- AMBREX FPAR028 226041 8887788 228.7 32.6 --------------------------------------------------------------------- AMBREX FPAR029 226017 8887751 216.9 30.3 --------------------------------------------------------------------- AMBREX FPAR042 225926 8887803 200.0 33.0 --------------------------------------------------------------------- AMBREX FPAR053 226605 8887454 200.0 41.0 --------------------------------------------------------------------- AMBREX FPAR037 225964 8887674 198.1 213.8 --------------------------------------------------------------------- MASSARA FPAR038 227533 8886740 260.3 36.0 --------------------------------------------------------------------- MASSARA FPAR039 227386 8886541 247.7 36.0 --------------------------------------------------------------------- --------------------------------------------------------------------- Area Borehole Dip Depth Status Objective --------------------------------------------------------------------- AREX FPAR020 68.0 181.8 Completed Infill --------------------------------------------------------------------- AREX FPAR021 85.5 370.6 Completed Infill --------------------------------------------------------------------- AREX FPAR023 72.0 257.6 Completed Infill --------------------------------------------------------------------- AREX FPAR024 47.0 250.6 Completed Infill --------------------------------------------------------------------- AREX FPAR025 59.3 128.4 Completed Infill --------------------------------------------------------------------- AREX FPAR047 52.4 160.0 Completed Infill --------------------------------------------------------------------- AREX FPAR049 70.4 150.4 Completed Infill --------------------------------------------------------------------- AREX FPAR051 48.8 100.5 Completed Infill --------------------------------------------------------------------- AREX FPAR052 43.4 100.8 Completed Infill --------------------------------------------------------------------- AREX FPAR054 70.6 330.6 Completed Infill --------------------------------------------------------------------- AREX FPAR055 65.0 193.3 Completed Infill --------------------------------------------------------------------- AREX FPAR056 60.0 250.0 Planned Infill --------------------------------------------------------------------- AREX FPAR022 80.0 100.1 Completed Extension --------------------------------------------------------------------- AREX FPAR026 81.3 302.8 Completed Extension --------------------------------------------------------------------- AREX FPAR027 67.1 200.3 Completed Extension --------------------------------------------------------------------- AREX FPAR048 79.5 399.3 Completed Extension --------------------------------------------------------------------- AREX FPAR050 85.0 350.5 Completed Extension --------------------------------------------------------------------- AREX FPAR058 60.0 120.6 Completed New target --------------------------------------------------------------------- AREX FPAR059 55.0 100.6 Completed New target --------------------------------------------------------------------- AMBREX FPAR030 75.0 800.0 Planned Infill --------------------------------------------------------------------- AMBREX FPAR028 49.2 350.0 Completed Extension --------------------------------------------------------------------- AMBREX FPAR029 58.1 316.9 Completed Extension --------------------------------------------------------------------- AMBREX FPAR042 60.0 350.3 Completed Extension --------------------------------------------------------------------- AMBREX FPAR053 55.0 150.0 Planned Extension --------------------------------------------------------------------- AMBREX FPAR037 67.7 250.4 Completed New target --------------------------------------------------------------------- MASSARA FPAR038 80.0 250.0 Planned New target --------------------------------------------------------------------- MASSARA FPAR039 80.0 300.0 Planned New target --------------------------------------------------------------------- Notes: 1. Coordinates are given in metres using the SAD69 Datum, UTM Zone 21S. 2. Elevations are in metres above sea level. 3. Depths are in metres. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. neither approves nor disapproves of the i nformation contained in this news release. Karmin Exploration Inc. (TSX VENTURE:KAR) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion