Karmin announces high grade zinc and copper intersections from the Aripuanã Project in Brazil
Wednesday, Aug 15, 2012
TORONTO, Aug. 14, 2012 /CNW/ - Karmin Exploration Inc. ("Karmin") (TSX Venture
and the Lima Stock Exchange: KAR) is pleased to announce diamond drill results
from the 2012 drill program at its 30% owned Aripuanã Zinc Project ("Aripuanã")
in Mato Grosso, Brazil.
Votorantim Metais ("Votorantim"), 70% owner and the operator of Aripuanã,
commenced the US$5.0 million 2012 drilling program on February 18, 2012 and to
date, 65 holes have been completed for a total of 10,993 metres. Currently there
are four drill rigs operating at Aripuanã with the objective of completing
18,000 metres of drilling by year end. This year's drill program includes 3,000
metres of large core (HQ - 63.5 mm diameter) which has provided 3.2 tonnes of
samples for metallurgical testing.
Karmin has a 30% carried interest in Aripuanã and is not required to contribute
to the project costs until the completion of a bankable feasibility study.
2012 Drilling Program
The primary objective of the 2012 drill program is to upgrade the majority of
the indicated and inferred mineral resources at Aripuanã to the measured and
indicated resource categories in order to facilitate the estimation of a revised
mineral resource anticipated to be in early 2013.
The 2012 drill program has focused to date on the Arex deposit because of near
surface high grade zinc assays in the stratabound mineralization and the high
grade copper in the stringer zones. A summary of the 2012 drill intercepts
received to date are outlined in Table 1.
Table 1; Composited Drill Intersections on the Arex Deposit
_____________________________________________________________________
|Drill Hole|From (m)|To (m)|Interval |Zn+Pb(%)|Cu(%)|Au (g/t)|Ag (g/t)|
| | | | (m)| | | | |
|__________|________|______|_________|________|_____|________|________|
|FPAR261 | 26.32| 38.45| 12.13| 3.5| 0.1| 0.08| 42|
|__________|________|______|_________|________|_____|________|________|
|FPAR261 | 53.56| 57.67| 4.11| 3.1| 0.4| 0.1| 25|
|__________|________|______|_________|________|_____|________|________|
|FPAR261 | 60.55| 68.75| 8.2| 1| 4.8| 1.26| 110|
|__________|________|______|_________|________|_____|________|________|
|FPAR261 | 74.05| 84.47| 10.42| 0.1| 1.4| 0.56| 25|
|__________|________|______|_________|________|_____|________|________|
|FPAR261 | 85.94| 92.77| 6.83| 4.3| 0.22| 0.16| 14.6|
|__________|________|______|_________|________|_____|________|________|
|FPAR261 | 106|108.84| 2.84| 6.1| 0.07| 0.09| 21|
|__________|________|______|_________|________|_____|________|________|
|FPAR261 | 112.12| 114.7| 2.58| 0.03| 0.7| 0.14| 6.2|
|__________|________|______|_________|________|_____|________|________|
|FPAR261 | 153.07|156.05| 2.98| 2.4| 0| 0.04| 14.3|
|__________|________|______|_________|________|_____|________|________|
|FPAR262 | 83.66| 94.15| 10.49| 8.42| 0| ND| 68.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR262 | 123.9|126.48| 2.58| 0| 2.32| ND| 15|
|__________|________|______|_________|________|_____|________|________|
|FPAR262 | 155.57|163.47| 7.9| 0.15| 1.9| ND| 12.4|
|__________|________|______|_________|________|_____|________|________|
|FPAR256 | 24| 28.9| 4.9| 10.95| 0.05| 0| 43|
|__________|________|______|_________|________|_____|________|________|
|FPAR256 | 35.15| 62.45| 27.3| 1.64| 4.16| 6.6| 47.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR256 | 70.15| 72.9| 2.75| 2.89| 0.03| 0| 5.37|
|__________|________|______|_________|________|_____|________|________|
|FPAR256 | 92| 95| 3| 3.8| 0.03| 0| 20.1|
|__________|________|______|_________|________|_____|________|________|
|FPAR257 | 84.77| 88.89| 4.12| 4.8| 0| ND| 18.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR257 | 91.95| 94.2| 2.25| 2.65| 1.04| ND| 19.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR257 | 134.9| 137| 2.1| 0| 4.75| ND| 15.6|
|__________|________|______|_________|________|_____|________|________|
|FPAR257 | 169.85|177.75| 7.9| 0.45| 2.5| ND| 21|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 16| 19.15| 3.15| 3.7| 0.07| ND| 41|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 29.6| 52.35| 22.75| 0.05| 0.7| ND| 5|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 55.1| 65.6| 10.5| 7.3| 0.6| ND| 28|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 65.6| 70.55| 4.95| 0.45| 3.8| ND| 40|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 74.5| 80.15| 5.65| 6.7| 0.2| ND| 52|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 102.45|107.35| 4.9| 15.8| 0.2| ND| 25|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 110.8|118.45| 7.65| 0.1| 0.78| ND| 9.3|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 120.3| 127| 6.7| 0.2| 3.9| ND| 34|
|__________|________|______|_________|________|_____|________|________|
|FPAR269 | 132.3|137.25| 4.95| 0| 0.67| ND| 4.7|
|__________|________|______|_________|________|_____|________|________|
|FPAR273 | 139.11|141.85| 2.74| 0.35| 0.9| ND| 7.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR273 | 141.85|144.74| 2.89| 9.8| 0.6| ND| 18.6|
|__________|________|______|_________|________|_____|________|________|
|FPAR273 | 144.74|147.35| 2.61| 0.5| 1.4| ND| 14.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR273 | 166.93|170.48| 3.55| 0.74| 0.73| ND| 15.6|
|__________|________|______|_________|________|_____|________|________|
|FPAR272 | 25.82| 28.15| 2.33| 3.68| 0.18| 0| 1.39|
|__________|________|______|_________|________|_____|________|________|
|FPAR272 | 31.61| 45.77| 14.16| 3| 2.3| 0.4| 30.1|
|__________|________|______|_________|________|_____|________|________|
|FPAR272 | 56| 63.25| 7.25| 6.7| 1.37| 0.2| 21.4|
|__________|________|______|_________|________|_____|________|________|
|FPAR272 | 70.4| 75.45| 5.05| 6| 0.7| 0.2| 33.4|
|__________|________|______|_________|________|_____|________|________|
|FPAR272 | 80| 86.09| 6.09| 1.92| 1.1| 0.16| 27.8|
|__________|________|______|_________|________|_____|________|________|
|FPAR272 | 115.09| 119| 3.91| 2.48| 0.97| 0.12| 13.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR272 | 120| 123.2| 3.2| 4.72| 0.1| 0| 14.1|
|__________|________|______|_________|________|_____|________|________|
|FPAR272 | 131| 137.1| 6.1| 3.46| 0.02| 0| 7.06|
|__________|________|______|_________|________|_____|________|________|
|FPAR276 | 31.3| 37.35| 6.05| 1.34| 3.6| 0.6| 57.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR276 | 38.6| 43.15| 4.55| 0.27| 1.21| 0.6| 18.2|
|__________|________|______|_________|________|_____|________|________|
|FPAR276 | 53.45| 58.75| 5.3| 0.79| 3.6| 1.95| 51.4|
|__________|________|______|_________|________|_____|________|________|
|FPAR276 | 63.95| 72.7| 8.75| 0.22| 1.6| 0.7| 12.3|
|__________|________|______|_________|________|_____|________|________|
|FPAR276 | 80| 84.8| 4.8| 3.25| 1.56| 0.37| 28.9|
|__________|________|______|_________|________|_____|________|________|
|FPAR276 | 84.8| 86.1| 1.3| 1.22| 1.1| 0.47| 13.5|
|__________|________|______|_________|________|_____|________|________|
|FPAR276 | 114.15|119.25| 5.1| 1.99| 1.34| 0.57| 14.8|
|__________|________|______|_________|________|_____|________|________|
|FPAR276 | 142.7|147.25| 4.55| 6.05| 0.13| 0| 6.6|
|__________|________|______|_________|________|_____|________|________|
The locations of the drill holes reported in Table 1 are shown in Figure 1 and
are highlighted with light blue circles with a dot in the middle of the circle.
The azimuth and dips of the drill holes are shown in Table 2.
Figure 1; Plan View of the Drill Holes completed on the Arex Deposit
Table 2; Azimuth and Dip of the Drill Holes on the Arex Deposit
_________________________
|Drill Hole|Azimuth| Dip |
|__________|_______|______|
|FPAR256 |191.2° |-56.8°|
|__________|_______|______|
|FPAR257 |191.7° |-67.8°|
|__________|_______|______|
|FPAR261 |191.7° |-57.7°|
|__________|_______|______|
|FPAR262 |192.2° |-59.0°|
|__________|_______|______|
|FPAR269 |191.6° |-62.4°|
|__________|_______|______|
|FPAR272 |193.7° |-54.3°|
|__________|_______|______|
|FPAR273 |192.4° |-57.0°|
|__________|_______|______|
|FPAR276 |192.0° |-51.3°|
|__________|_______|______|
2012 Project Evaluation Program
The 2012 project evaluation program currently includes engineering work focused
on mine design, mineral processing and flow sheet development, optimization of
tailings disposal and environmental studies required for the development of a
mine. Metallurgical studies indicate that the zinc, lead and copper
mineralization can be processed to produce three separate marketable
concentrates. Logistical studies are evaluating the transportation alternatives
for Aripuanã.
Qualified Person
A.E. Olson, FAusIMM, a Qualified Person as defined under Canadian National
Instrument 43-101 Standards of Disclosure for Mineral Projects, and a consultant
to Karmin, has reviewed and approved the technical content of this news release.
Quality Assurance and Quality Control
Votorantim has a comprehensive Quality Control and Quality Assurance Program
which includes cutting the drill core in half and retaining half of the core for
future assay verification. In addition, Votorantim's procedures include the
insertion of standards, duplicates and blanks. One half of the drill core is
sent to ALS Minerals for chemical analyses and all samples are measured for
density. The drill core is photographed and stored in secure warehouses for
future reference. Karmin and the Qualified Person have verified the data
contained in the release.
About Karmin
The common shares of Karmin are listed on the TSX Venture Exchange and the Lima
Stock Exchange and trade in both markets under the symbol "KAR". The principal
business of Karmin is to acquire, explore and develop resource properties.
Karmin owns 100% of the 25-square-kilometre Cushuro Gold Project located in the
world-class Alto Chicama gold-mining district of northern Peru.
Karmin owns 100% of the Aripuanã Gold-Silver Project, which encompasses the gold
and silver mineralization associated with near-surface oxidized portions of
numerous massive-sulphide deposits in the 820-square-kilometre Aripuanã Zinc
Project in north western Brazil.
Karmin owns 30% of the Aripuanã Zinc Project, one of the ten largest undeveloped
zinc projects in the world. The Aripuanã Zinc Project covers an 820 square
kilometre mineralized massive-sulphide district that includes five areas of
mineralization (Ambrex, Arex, Babacu, Massaranduba and Mocoto) over a
25-kilometre strike length. A technical report completed by AMEC International
(Chile) S.A. in accordance with National Instrument 43-101-Standards of
Disclosure for Mineral Projects in 2007 (available on SEDAR, www.sedar.com)
states that the Ambrex deposit has indicated resources of 18.3 million tonnes
grading 4.0% zinc, 1.5% lead, 0.1% copper, 0.18 g/t gold and 35.6 g/t silver.
The Arex deposit has indicated resources of 9.4 million tonnes grading 2.5%
zinc, 1.0% lead, 0.6% copper, 0.45 g/t gold and 34.7 g/t silver. Votorantim owns
70% of the Aripuanã Zinc Project, but assumes 100% of the project costs until
the completion of a bankable feasibility study.
Disclaimer Relating to Forward-Looking Information
This news release contains forward-looking statements that are based on the
belief of management and reflect Karmin's current expectations. Forward-looking
statements include, but are not limited to, possible events and statements. The
words "plans," "expects," "is expected," "scheduled," "estimates," "forecasts,"
"projects," "intends," anticipates," or "believes," or variations of such words
and phrases or statements that certain actions, events or results "may,"
"could," "would," "might," or "will be taken," "occur," and similar expressions
identify forward-looking statements. The forward-looking statements and
information in this press release include, but are not limited to, information
relating to the business plans of Karmin. Such statements and information
reflect the current view of Karmin with respect to risks and uncertainties that
may cause actual results to differ materially from those contemplated in those
forward-looking statements and information.
Such statements are not historical facts. Readers are cautioned not to place
undue reliance on forward-looking statements, as there can be no assurance that
the plans, intentions or expectations upon which they are based will occur. By
their nature, forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections in the
forward-looking statements will not occur, and that actual performance and
results in future periods may differ materially from any estimates or
projections of future performance or results expressed or implied by such
forward-looking statements.
The Aripuanã Zinc Project and the land it relates to is an exploration property
only. Accordingly, there are a number of important factors that could cause
Karmin's actual results to differ materially from those indicated or implied by
forward-looking statements and information. Such factors relating to the
Aripuanã Zinc Project include, among others, the timing and content of work
programs, results of the development of mineral properties, the interpretation
of drilling results and other geological data, the uncertainties of resource and
reserve estimates, receipt and security of mineral property titles, receipt of
licenses to conduct mining activities, project cost overruns or unanticipated
costs and expenses, fluctuations in metal prices and general market and industry
conditions, changes in national and local government legislation, taxation,
controls, policies and regulations, the security of personnel and assets, and
political or economic developments in Canada and Brazil, operating or technical
difficulties in connection with mining or development activities, employee
relations, the speculative nature of mineral exploration and development and the
risks and hazards associated with the business of mineral exploration,
development and mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins and flooding.
The forward-looking statements contained in this news release are made as of the
date of this news release. Readers should not place undue importance on
forward-looking information and should not rely upon this information as of any
other date. Except as required by law, Karmin disclaims any intention and
assumes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, Karmin undertakes no obligation to comment on the expectations of,
or statements made by, third parties in respect of the matters discussed above.
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this news release.
SOURCE Karmin Exploration Inc.
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