CPN - CARPATHIAN GOLD INC

Canadian Junior Gold and Silver - research report, mine visit report, discussion, comments, information for a specific company. Hui commentary by Dsquare.

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Post by geo » Wed Jan 12, 2011 9:53 am

Carpathian Strikes Again in Romania: 664 m of 0.86 g/t Au & 0.17% Cu, Including 213 m of 1.24 g/t Au & 0.24% Cu

January 12, 2011, 6:00 am EST

TORONTO, ONTARIO--(Marketwire - Jan. 12, 2011) - Carpathian Gold Inc. (TSX:CPN - News; the "Corporation" or "Carpathian") is pleased to provide the results from the first hole of a planned 20,000 m drill program on the Corporation's 100% owned Rovina Valley Project ("RVP") in west-central Romania. The RVP includes three Au-Cu porphyries discovered by the Corporation with the focus of the 2011 drilling program on the Au-rich Ciresata Porphyry deposit. During 2010, the Corporation completed a three hole, deep-drilling program in this deposit which encountered long intercepts of excellent Au-Cu mineralization and added approximately 280 to 300 m of depth extension below the previous drilling and demonstrated that the deposit is open laterally and at depth. The 2011 drill program has been designed as a follow up to define the limits of the Ciresata deposit, upgrade the inferred resource to the measured plus indicated resource categories, as well as test satellite targets.

Core hole RDG-19 is the first drill hole of the 20,000 m drill program and was drilled in the western part of the Ciresata Au-Cu porphyry deposit (as presently known) in an area with very limited information at depth. Highlight intersections from this hole are shown below.
Drill hole
From (m)
To (m)
Length (m)
Au (g/t)
Cu (%)
Au-eq* (g/t)

RGD-19**
109
733
664
0.86
0.17
1.20

Including
173
386
213
1.24
0.24
1.73

also
289
337
48
1.59
0.29
2.19


* To estimate Au-eq (Gold Equivalent) a gold price of US $1000 and a copper price of US $3.00/lb is used. This is consistent with the Au-eq. calculations the Corporation has used in its recent press releases for Ciresata.
** RGD-19 located on drill fence 1060N and drilled vertical to 838.0 m depth; drill hole location is shown on drill hole location map at www.carpathiangold.com.


"We are very pleased with the results of this initial drill hole of our 2011 drill program at the Ciresata porphyry and look forward to further drill results," said Dino Titaro, President and CEO of Carpathian. Mr. Titaro adds, "This first hole for 2011 is a very important one as it was drilled in an area with limited information and demonstrates excellent continuity and extension of higher grade Au-Cu mineralization towards the southwestern portion of the deposit. We believe that the 2011 drill program could add significantly to the size of this deposit and provide a good basis for pre-feasibility/feasibility studies at the Rovina Valley Project in 2011."

The Ciresata porphyry system is a blind deposit that begins 40 to 140 m below surface. Drill hole RDG-19 is the first of approximately 25 drill holes planned for the 2011 drill program. RDG-19 is a vertical hole that was drilled in a part of the deposit with only shallow angle holes and limited information. This hole intersected a high-grade zone of 213 m of 1.24 g/t Au and 0.24% Cu. This zone correlates with, and extends 130 m southwest, a high-grade zone intersected in drill hole RGD-17 of 244 m of 1.70 g/t Au and 0.22% Cu (see the Corporation's Press Release dated September 8th, 2010).

Highlight intersections from the 2010 deep-drilling program at Ciresata are as follows:


Drill hole
From (m)
To (m)
Length (m)
Au (g/t)
Cu (%)
Au-eq* (g/t)

RGD-16
142
933
791
0.63
0.14
0.92

Including
316
524
208
1.13
0.19
1.53

RGD-17
160
876
716
1.14
0.16
1.47

Including
216
460
244
1.70
0.22
2.15

RGD-18
221
930
709
0.63
0.14
0.92

Including
309
890
581
0.66
0.16
1.00

Including
320
483
163
0.74
0.15
1.02


* To estimate Au-eq (Gold Equivalent) a gold price of US $1,000 and a copper price of US $3.00/lb is used.

RVP Background Information

RVP is comprised of three Au-Cu porphyry systems (Rovina, Colnic and Ciresata) discovered by the Corporation. From 2006 to 2009, 181 diamond drill holes totaling 71,375 m have been completed on the project. In late 2008, PEG Mining Consultants Inc. ("PEG") completed a NI 43-101 resource estimate ("2008 Resource"). This resource estimate is based on the drill results from each of the porphyry deposits, utilizing diamond drill hole data from the 2006, 2007 and 2008 drilling campaigns, and is summarized below.


-- Measured + Indicated - 193,100,000 tonnes at 0.49 g/t Au for 3,070,000 ounces Au and 0.18% Cu for 759,100,000 lbs Cu -- Inferred - 177,700,000 tonnes at 0.68 g/t Au for 3,890,000 ounces Au and 0.17% Cu for 663,100,000 lbs Cu
Base case cut-offs used in the table are 0.45 g/t Au eq. for the Colnic deposit, 0.70 g/t Au eq. for the Ciresata deposit and 0.30% Cu. eq. for the Rovina deposit.. Au eq. determined by using a gold price of US$675 per ounce and a copper price of US$1.80/lb as defined by PEG. Metallurgical recoveries are not taken into account.

The 2008 Resource estimate includes enough contained gold-only ounces (3.07 million ounces in the measured + indicated category and 3.89 million ounces in the inferred Category) to place the Corporation within the top tier of advanced-exploration companies (top 20) hosting resources that have not yet been developed. Drilling has indicated that the potential total resource of this project has not yet been fully defined and further potential exists to expand the current resource estimate in the near term. Essentially every drill hole in the Ciresata porphyry bottomed in higher-grade gold and copper mineralization. In addition, results from a soil-geochemistry in-fill program highlighted a coincident gold + copper anomaly extending 300 metres west from the present drill hole pattern with greater than 10 ppb gold and greater than 20 ppm copper. This anomaly is a high priority drill target for extending the Ciresata mineralization laterally and will be tested as part of the 2011 drilling program.

A detailed Preliminary Economic Assessment ("PEA") was released on March 23, 2010. The PEA was completed by PEG, which led a consortium of specialists assembled for the study. The project is envisioned to be a conventional open pit mine with down-the-hole drill blast holes, hydraulic shovels and conventional haul trucks for the Rovina and Colnic deposits located approximately 2.5 km apart. Mine production from the combined two open pits is planned at 20,000 tonnes per day. The Ciresata deposit will be mined by a combination of a sublevel panel retreat mining in the upper levels of the deposit accessed by a decline from the surface, and an induced block cave method for the lower part of the deposit. The upper sublevel panel retreat mining will allow mining access to high-grade ore while development is undertaken to prepare for the induced block cave operation at depth. At full capacity, the underground operation will mine 20,000 tonnes per day. Ore from the induced block cave operation will be fed to a centralized process plant located between the Rovina and Colnic deposits via a 6 km inclined conveyor tunnel to the surface.

The onsite metallurgical facility will include conventional unit operations such as crushing, grinding, froth flotation and dewatering to produce a gold-rich copper flotation concentrate. Ore processing will utilize an industry-standard flotation process-only at a rate of 40,000 tonnes per day to produce a gold-rich saleable copper concentrate containing 18 to 22% Cu and 50 to 60 g Au/t. This process does not require the use of cyanide.

A summary of the PEA results is provided below.


-- Average annual gold production of 238,000 ounces per annum for the first five years and averaging 196,000 ounces per annum over the mine life of 19 years, for a total of 3.72 million ounces of recoverable gold over the life-of-mine (LOM). -- Average annual copper production of 53.5 million lbs for the first five years and averaging 49.4 million lbs per annum over the19-year mine life, totaling 938 million lbs of recoverable copper over LOM. -- Total gold equivalent ounces produced over the 19-year mine life is 6.22 million. -- Total operating cash cost of US $81/oz with copper as a by-product credit and US $446/oz gold on a co-product basis (copper cash cost is US $1.05/lb on a co-product basis), using metal prices of US $1,000/oz Au and US $3.00/lb Cu. -- At metal prices of US $1,000/oz gold and US $3.00/lb copper the NPV is US $1.13 billion based on a 5% discount rate. -- Project internal rate of return ("IRR") of 24.2%, with an approximate 3.3-year payback on an initial Project capital expenditure of US $509.4 million, at a gold price of US $1,000/oz and copper price of US $3.00/lb.
There has been no previous commercial mining activity at RVP and the proposed mine site footprint as defined by the PEA does not include any known protected heritage sites or archaeological occurrences and has been designed to minimize impact in the nearby communities of Rovina and Bucuresci.

According to the cautionary statement required by NI 43-101, it should be noted that this PEA is preliminary in nature as it includes inferred mineral resources that cannot be categorized as reserves at this time and as such there is no certainty that the preliminary assessment and economics will be realized. The full Study of the PEA is available on www.SEDAR.com.

Sample Protocol

All samples collected from any program in Romania are prepared and analyzed at the independent ALS Romania 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 certified gold and copper standards are inserted on a routine basis. They consist of 15 per cent of submitted samples. In addition, coarse rejects from 3% of the samples are periodically re-submitted for analysis. 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 at the Ciresata deposit are sampled at one metre intervals through the mineralized zone and two-metre intervals in the upper barren zone.

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.

About Carpathian

The Corporation is an exploration and development company whose primary business interest is developing near-term gold production on its 100% owned Riacho dos Machados Gold Project in Brazil, which is currently in the Feasibility Study stage, along with progressing its exploration and development plans on its 100% owned Rovina Valley Au-Cu Project located in Romania. On a company wide basis, the Corporation currently hosts 43-101 resources of 3.88 million ounces of gold in the measured plus indicated categories and 4.58 million ounces of gold in the inferred category, as well as 759.1 million pounds of copper in the measured plus indicated category and 663.1 million pounds of copper in the inferred category.

The Riacho dos Machados Gold Project, which is in the final phase of a Feasibility Study, is targeted to produce in the order of 100,000 ounces of gold per annum, with construction targeted by management to be initiated in early to mid 2011 with an anticipated goal for the commencement of production in late 2012. The Rovina Valley Project will enhance the Corporation's growth profile as a mid-tier gold producer.
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Post by geo » Thu Sep 02, 2010 5:31 pm

I've been waiting on this one for awhile. If CPN can break above $.41 , looks like it should break out.
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Post by geo » Mon Aug 09, 2010 8:10 pm

August 05, 2010

A Feasibility Study For Carpathian’s Brazilian Gold Project Is Due Imminently

By Alastair Ford

How to please investors in fickle markets like these? One way is not to worry about the daily volatility and uncertainty, and simply to stick to your knitting. Another way is to release a resource upgrade that increases measured and indicated resources by 200 per cent on your lead project, and watch as investors slowly cotton on. Carpathian Gold has been taking both approaches lately.

The company has been steady with the newsflow from both its near-term gold project at Riacho dos Machados in Brazil, and from the much larger, but less well advanced Rovina copper-gold project in Romania. Not all the news has been spectacularly well received, and the company’s shares have tended to track the market over the past few months, but two recent events did go down well, and have served to reassure those investors who take the trouble to keep up to speed, that everything is well on track at Carpathian.

The first of those events was the recent resource upgrade at Riacho dos Machados, also known as RDM. Using a US$950 gold price the measured and indicated resource at RDM now clock in at just over 812,000 ounces, and there’s a further 690,000 ounces or so inferred. That represented a 200 per cent increase on the previous resource, a result which takes RDM respectably towards a ten year mine life. The company is continuing to drill at RDM, and indeed Carpathian chief executive Dino Titaro, says that following the latest work, which has looked at shallow material likely to be mined in the early years of any future operation, the latest resource numbers already look out of date.

However, they will form the basis of the company’s feasibility study for RDM, which is due out imminently, and had in fact been waiting on that very resource upgrade to allow the inclusion of the new inferred ounces – mineralized ore, which, says Dino, would otherwise have been classified as waste under parameters the study. Bearing that in mind, it’s no surprise that now, just one week on, Dino says that the feasibility study is “essentially” done. “I would like to think that by the end of the month I will be able to release it”, he says.

And that brings us to the second positive development at Carpathian that’s been much appreciated by investors – the securing of a recent US$30 million cash injection into the company via a forward selling deal with Macquarie bank. For its US$30 million, Macquarie gets to buy 12.5 per cent of the open pit production from RDM at US$450 an ounce, which looks a nice earner for Carpathian, especially as the company is protected on the upside, and gets a little extra if gold goes above US$1,850.

As Dino points out, that US$30 million puts the company some way down the road towards raising the US$120 million to US$130 million it estimates it will need to complete construction of a 100,000 ounce per year operation at RDM. The new money will allow greater flexibility as far as the timing of raising the rest of required capital is concerned, in what are, as we’ve said, fickle markets. Discussions about raising debt are ongoing, says Dino, but with the Macquarie money in, the pressure, to some extent is off. That said, Dino’s fairly optimistic that RDM will now move forwards fairly quickly, albeit with one or two caveats. “If all goes well”, he says, “and as long as I can get all the financing in place as I hope, then this project will be up and running by the end of next year.”

Meanwhile, over at Rovina in Romania the pace of work is likely to ratchet up a notch as the rest of the year progresses. Recent progress on the ground there by Gabriel Resources and European Goldfields has been helpful as far as maintaining positive sentiment towards Romania is concerned, to the point where Dino feels able to speculate that Romania might start to become a destination of choice. Certainly, he says, there’s enthusiasm in the country in official circles for his company’s project, an enthusiasm that’s helped by current plans at Rovina to produce a copper concentrate, a product which is already well understood in country.

Earlier in the year Carpathian completed a preliminary economic study at Rovina which showed a viable operation producing 196,000 gold equivalent ounces per year over a nineteen year life, with considerably more coming in the early years. Gold-equivalent costs per ounce worked out at US$438, using US$1.05 copper, so there’s plenty of margin on offer. More drilling is now underway, while the company continues to negotiate the conversion of the exploration licence into a mining licence. That oughtn’t to be a problem, “God willing, and with good luck”, according to Dino. Watch this space for more news, soon.

http://www.minesite.com/nc/minews/singl ... -ro/1.html
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Post by Jaco » Tue Nov 04, 2008 11:05 am

Carpathian Drilling intersects 8 m of 6.95 g/t Au on the RDM Gold Project, Brazil
Tuesday November 4, 6:00 am ET

TORONTO, Nov. 4 /CNW Telbec/ - Carpathian Gold Inc. (CPN:TSX) (the "Corporation" or "Carpathian") is pleased to announce initial drill results from the 100% owned Riacho Dos Machados gold project ("RDM") located in Minas Gerais State, Brazil. The RDM gold project is a 22,000 hectare land parcel comprised of 12 Exploration Licenses and one Mining Concession that covers a 20 kilometre long north-south shear zone. The Mining Concession hosts a past producing open-pit gold mine, which was previously operated by Companhia Vale do Rio Doce ("Vale") between 1986 and 1997 from which oxide gold ore was mined to maximum depths of 60 m below the surface.

Carpathian believes the RDM project can be quickly advanced by upgrading the previous work through drilling on the property in order to complete a NI-43-101 compliant resource estimate, which would be followed by a preliminary economic assessment and feasibility studies. Three diamond drill rigs have been active on the Mining Concession and approximately 10,300 m of drilling has been completed from 58 diamond drill holes. The drill program has been concentrated in the area of the previous open-pit operation along the known 1,350 m long gold zone and down to a vertical depth of approximately 200 m below the existing open-pit. In addition, the drill program also evaluated the possible northern and southern extension of this gold zone by an additional 500 m in each direction. Along with this drill program, 22 diamond drill holes from the drilling completed on the property by Vale have also been re-sampled and re-logged. The primary objective of this program was to obtain sufficient drill data to validate previous drill results, extend the gold zone along strike and define sufficient mineralization at an open-pit gold grade to justify deepening the current open-pit by approximately 200 m.

Drill results from the current program have encountered the gold mineralization where anticipated, including in the southern strike extension. The assay results received to date support the previous grades and thickness as defined by Vale, but have also encountered areas of higher grades and thickness; such as drill hole FRM 19 which intersected 8 m of 6.95 g/t Au.

While a number of sample assay results are still outstanding, some of the highlight assay intersections received to date are listed below. All of these results represent the portion of the mineralized zone that is considered to be accessible through the deepening of the open-pit. A complete list of the assay results can be found at the end of this press release. A map showing the location of the drill holes completed can be found on the Corporation's website at www.carpathiangold.com.

i) Central Pit Area (know as Area IV)

10.9 m of 2.10 g/t Au (hole FRM 15)
8.0 m of 6.95 g/t Au; including 5.6 m of 9.21 g/t Au in (hole FRM 19)

ii) North Pit Area (known as Area V)

7.8 m of 4.75 g/t Au including 6.1 m of 5.99 g/t Au (hole FRM-20) 14.9 m of 2.23 g/t Au (hole F-73, re-sample drill core from Vale program)
20.9 m of 1.67 g/t Au (hole F-87, re-sample drill core from Vale program)

iii) Southern Extension Mineralization (south of the open pit)

3.1 m of 1.55 g/t Au (FRM 1)
6.6 m of 2.09 g/t Au (FRM 7)
13.0 m of 1.4 g /t Au; includes 4.0 m of 3.12 g/t Au (hole FRM 9)

Notes: Widths are approximate true thicknesses.

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Post by Jaco » Thu Oct 23, 2008 12:02 pm

Update on the Rovina Valley Project, Romania;
Drilling intersects 516 m at 1.11 g/t Au eq., Including, 177 m at 1.48 g/t Au eq. at Ciresata Porphyry

Wednesday October 22, 6:00 am ET

TORONTO, Oct. 22 /CNW Telbec/ - Carpathian Gold Inc. (CPN:TSX) (the "Corporation" or "Carpathian") is pleased to provide an update on exploration activities on the Rovina Valley Project ("RVP") located within its 100% owned Rovina Exploration License in central Romania. The RVP includes three gold-copper porphyry deposits with recent diamond drilling focusing on the Ciresata Porphyry which was discovered earlier this year, and is located approximately four km south of the Colnic and Rovina porphyries. A total of 71,000 m of diamond drilling has been completed by Carpathian on the RVP in the last 2.5 years, resulting in the identification of three Au-Cu porphyries. Present efforts are focused on a resource estimation update and an economic evaluation study to guide the next phase of work.

Drilling

Three additional drill holes at Ciresata (RGD-13 to 15, inclusive) have been completed since the last set of drill results were reported in our press release dated August 5, 2008.

Drill hole RGD-13 is a 100 m step-back hole from RGD-12 and intersected gold-copper mineralization beginning at 121 m down the hole to the end of hole at 637 m with the following intersections:

516 metres of 0.79 g/t Au and 0.15 %Cu (1.11 g/t Au eq.(x)) and includes higher grade zones of;
177 metres of 1.12 g/t Au and 0.17%Cu (1.48 g/t Au eq.(x)) and;
114 metres of 1.24 g/t Au and 0.14%Cu (1.54 g/t Au eq.(x))

(x) Note: gold (Au) and copper (Cu) equivalents utilize gold at $650 USD/oz and copper at $2.00 USD/lb. Metallurgical recoveries are not considered.


This drill hole confirms the grade tenor intersected in hole RGD-12 and extends this mineralization 100 m to the west which is still open. In addition, this drill hole ended in high-grade mineralization at 550 m vertical depth, similar to many of the drill holes in the core of the Ciresata Porphyry, indicating mineralization continues to be open at depth. Drill holes RGD-14 and RGD-15 tested for mineralization extensions to the north and northeast respectively. Both drill holes intersected porphyry-related potassic alteration and anomalous Au-Cu mineralization at depth. Drill hole RGD-14 intersected 236 m at 0.21 g/t Au and 0.06% Cu (0.34 g/t Au eq.). RGD-15 intersected 72 m at 0.14 g/t Au and 0.07% Cu (0.29 g/t Au eq.).

A total of 15 widely-spaced drill holes (totaling 7,172 m) have now been completed on the Ciresata Au-Cu Porphyry this year. The core of Au-Cu mineralization occurs within quartz-pyrite-chalcopyrite vein stockworks and disseminated pyrite and chalcopyrite. This mineralization is also hosted equally in a Tertiary-aged hornblende-feldspar porphyry and hornfelsed Cretaceous-aged sediments. The presently drill-defined mineralized zone covers an area of approximately 350 m by 400 m. Mineralization starts at 50 to 120 m below a surface cover of magnetite-altered andesite and extends to 600 m below the surface and remains open at depth and to the northwest, west and south. The core of the presently defined mineralization includes high-grade porphyry Au grades as shown by the previously reported intersections:

RGD-8: 325.65 m with 1.04 g/t Au and 0.16% Cu (1.38 g/t Au eq.) (Press release July 7, 2008)
RGD-12: 255.7 m with 1.50 g/t Au and 0.24% Cu (2.01 g/t Au eq.) (Press release August 5, 2008)
(x) Note: gold (Au) and copper (Cu) equivalents utilize gold at $650 USD/oz and copper at $2.00 USD/lb. Metallurgical recoveries are not considered.

"Based on these drilling results and the results announced earlier from the Ciresata Porphyry deposit (which was discovered earlier this year), we believe the Ciresata Porphyry will add significantly to the resource base of the Rovina Valley Project", said Dino Titaro, President and CEO of Carpathian. "The addition of the gold-rich porphyry complex of Ciresata into the Rovina Valley Project, which includes the Rovina and Colnic porphyry deposits four kilometres to the north, will complement the anticipated economic viability of an integrated mining operation."

Carpathian has temporarily suspended drilling at the Project, including the Ciresata Porphyry, pending the results of an updated NI 43-101 compliant Resource Estimation (see below) and an economic evaluation study. The results from this work will provide guidance for the follow-up drilling programs.

A table with a complete list of down-hole intersections from drill holes RGD-13 to RGD-15 is presented at the end of this press release as well as drill hole location and orientation details. In addition, a drill hole location plan map for all holes drilled to date on the Ciresata Porphyry can be found on the Corporation's web site at www.carpathiangold.com. Assay results from the first 12 drill holes (RGD-1 to RGD-12) have been reported earlier this year on February 27th, May 12th, July 7th, and August 5th.

Resource Estimation Update

As previously reported, a NI 43-101 compliant Resource Estimate update is progressing toward completion within this current quarter. This Resource Estimate is being completed by PEG Mining Consultants, of Ontario, Canada, and will include the Rovina, Colnic, and Ciresata porphyry deposits utilizing drilling completed in 2006, 2007, and through April 2008. This Resource Estimate will update the NI 43-101 compliant Resource Estimate reported in May 2007 by AMEC Americas Ltd. ("AMEC"), which was based only on drilling completed in 2006 on the Rovina and Colnic porphyry deposits.

Metallurgical Sampling and Test Work Program

To complement the Resource Estimation and provide data for economic evaluations, further metallurgical sampling and test work for the RVP is underway. This is in addition to the bench-scale test work completed by SGS-Lakefield on composite samples from the Rovina and Colnic porphyries in 2007 which concluded that a gold-rich saleable copper concentrate could be produced from Rovina and Colnic utilizing a conventional flotation recovery process (reported May 29, 2007). Recent metallurgical work includes an Advanced Copper (QEMSCAN) and Gold Mineralogy Study by SGS-Lakefield on composite samples from Colnic and Ciresata. Additional samples for bench-scale test work are presently being shipped to SGS-Geosol, in Belo Horizonte, Brazil, from the Rovina, Colnic, and Ciresata porphyries. This work is geo-metallurgical in design and will examine recovery characteristics of various grade ranges and alteration types. In addition, 1,110 m of metallurgical drilling at Rovina, Colnic, and Ciresata have been completed to collect a 6 tonne sample for pre-feasibility optimization metallurgical test work with the performing lab yet to be determined.

Sample Protocol

All samples collected from any program in Romania and Hungary 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. In addition, coarse rejects from 3% of the samples are periodically re-submitted for analysis. 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 at one metre intervals from the top to the end of the hole.

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 exploration primarily on its properties in Romania as well as gold exploration on its development-stage property acquisition in Brazil.
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Post by Jaco » Thu Sep 18, 2008 12:35 am

September 17, 2008
The Impending Election Could Put Carpathian Gold Into The Cat-Bird Seat In Romania
By Our Canadian Correspondent

With mineral exploration stocks in a severe bear market, major mining companies are probably starting to lick their chops in anticipation of picking up long-life resources at favourable prices in the very near future. Based on recent drill results and with new resource estimates expected before year-end, Canadian-listed Carpathian Gold’s Rovina gold-copper project in central Romania has all the early signs of shaping up as a tasty target.

Carpathian Gold has worked the 94 square kilometre Rovina exploration license since 2005, when the government originally awarded it the license. Located right in the heart of the Golden Quadrilateral, some 300 kilometres northwest of the Romanian capital Bucharest, Carpathian always knew it was onto something special. Carpathian was originally the European exploration arm of Michael Martineau's Samax Gold. Some of you may recall that Samax moved into the Tanzania's Lake Victoria district and was acquired by Ashanti Goldfields in 1998. But while all that was going on, consulting firm ACA Howe International was on the Samax payroll, and paying attention not only to the Tanzania properties. Howe’s president, Dino Titaro, liked what he saw in Carpathian’s assets in Romania and Hungary. In fact, Dino liked them so much that he left ACA Howe in 2003 to head up the privately-owned Samax spinoff, which became TSX listed Carpathian Gold in mid-2004.

So up and running as a public company Carpathian went to work on expanding the resource and determining the gold grades of the Rovina porphyry, where the Romanian government's mineral exploration branch had punched 34 holes into the property between 1974 and 1986 generating a historic resource along the way of 108 million tonnes grading 0.24% copper, to a depth of about 400 metres.

The first resource tallied by Carpathian came in at 144 million inferred tonnes grading 0.3 gram gold per tonne and 0.26% copper for 1.4 million contained ounces of gold and 829 million contained pounds of copper. Ongoing drilling at Rovina is still generating some nice numbers, including a recent intercept running 526 metres at 0.69 gram gold per tonne and 0.28% copper.
Moving 2.5 kilometres to the south, Carpathian is also working up the Colnic gold-copper porphyry target. As it did with Rovina, Carpathian quickly got to work, delineating an indicated resource of 68 million tonnes grading 0.64 grams gold and 0.12% copper to give 1.4 million ounces of gold and 175 million pounds of copper.

So far, Carpathian has outlined 5.5 million ounces of gold equivalent at Rovina and Colnic. But it is the third large copper-gold porphyry target on the license that is perhaps the most exciting. Lying 4.5 kilometres south of the Colnic deposit, Carpathian is finding good success at the Ciresata porphyry prospect. A recent drill hole on the northwestern portion of the mineralized zone yielded 1.06 grams gold per tonne and 0.16% copper over 186 metres, before it hit a 25 metre barren dyke and punching on through to hit 255.7 metres running 1.5 grams gold per tonne and 0.24% copper. Testing the northeast extension of the mineralization, a drill hole cut 198 metres of 0.6 grams gold per tonne and 0.12% copper. Importantly, both of these ended in mineralization at depths greater then 500 metres, with the grade increasing. New resource estimates are expected before year-end on all three porphyry deposits.

Unfortunately for Carpathian, the environmental backlash regarding the development of Gabriel Resources’ 15.8 million ounce Rosia Montana project has overshadowed its success in Romania. So much so that the company has diversified out of Eastern Europe and into Brazil, with the acquisition of the Riacho Dos Machados gold project, which holds a historic resource of 3.77 million tons grading 4.61 grams gold per tonne.

Despite the near term production potential of Riacho Dos Machados and the increasing value of Rovina, Carpathian’s market value has been steadily eroded from a high of C$1.70 per share in June 2007 down to a mere C$0.21 per share today. In other words the diversification into Brazil has not yet paid dividends. However, with Romanian parliamentary elections set for 30th November and resource estimates for Rovina due fairly soon, Carpathian’s eastern European assets may start to come back into their own. Not only that, the assets would fit well for a major miner looking for leverage in that part of the world. In fact some key players have already been positioning themselves ahead of the elections. Electrum Ltd., a private global gold group run by Thomas Kaplan, recently increased its equity stake in Gabriel Resources to 17.85 per cent while Newmont Mining has upped its stake to 19.9 per cent. Interestingly, Carpathian has just dealt off a potential 80 per cent stake in the Fuzerradvany concession and Kanszavar exploration license in Hungary to Caracal Gold LLC, an indirect wholly owned subsidiary of Electrum.

Shareholders in Carpathian have surely felt some pain over the past 18 months, but a positive change in the perception of investors and mining companies of Romania would have Carpathian sitting in the cat-bird seat. In the meantime, Dino and his team will be busy proving to shareholders that the move into Brazil was a prudent one.

http://www.minesite.com/nc/minews/singl ... nia/1.html
swannmex
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Post by swannmex » Tue Aug 05, 2008 12:27 pm

You know this market is bad when the stock is down on that news release.

Good luck to all of us, Andrew
Jaco
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Post by Jaco » Tue Aug 05, 2008 12:03 pm

Carpathian Gold Inc.: Drilling at the Ciresata Porphyry Cuts Best Hole on Rovina Project; 255.7 m at 2.01 g/t Au eq.
Tuesday August 5, 11:11 am ET

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2008) - Carpathian Gold Inc. (TSX:CPN - News; the "Corporation" or "Carpathian") is pleased to report further assay results from its ongoing diamond drilling program on the Ciresata Porphyry located within the 100% owned Rovina Exploration License in central Romania . Three additional drill holes (RGD-10 to 12, inclusive) have been completed since the last set of drill results were reported on July 7, 2008.

Drill hole RGD-12, which was designed to test for gold and copper mineralization at depth in the northwestern portion of the deposit, intersected:


186 m of 1.06 g/t Au and 0.16 %Cu (1.40 g/t Au eq(i)) above a late-mineral dike.

Below this dike (approximately 25 m true width), RGD-12 intersected 255.7 m (to end of hole) of 1.50 g/t Au and 0.24 %Cu (2.01 g/t Au eq) which includes 82 m of 2.74 g/t Au and 0.34 %Cu (3.46 g/t Au eq).

Click link below for full press release:
http://biz.yahoo.com/ccn/080805/2008080 ... .html?.v=1
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Post by Jaco » Mon Jul 07, 2008 11:00 am

CPN Drilling at the New Ciresata Porphyry Discovery Increases the Size of the Mineralized Zone and Intersects High Grade Au+Cu: 457.65 m at 1.20 g/t Au eq. (includes 325.65 m at 1.38 g/t Au eq.)
Monday July 7, 6:00 am ET

TORONTO, ONTARIO--(Marketwire - July 7, 2008) - Carpathian Gold Inc. (TSX:CPN - News; the "Corporation" or "Carpathian") wishes to report that recent drill results from its ongoing diamond drilling program at the Ciresata porphyry prospect has encountered some of the highest gold grades and copper mineralization to date on both this porphyry and the entire Rovina Exploration License. The Ciresata porphyry is located within the 100% owned Rovina Exploration License in central Romania and is situated approximately 4 km south of the Colnic and Rovina porphyry deposits.
This gold rich - copper porphyry was discovered earlier this year and is potentially the third economic porphyry deposit located on the Rovina Exploration License. Recent drill hole intersection highlights are as follows:

287 m at 0.90 g/t Au and 0.20% Cu (1.32 g/t gold equivalent ("Au eq.")),
including 91 m at 1.26 g/t Au and 0.22% Cu (1.72 g/t Au eq.) from hole RGD-7

457.65 m at 0.88 g/t Au and 0.15% Cu (1.20 g/t Au eq.),
including 325.65 m at 1.04 g/t Au and 0.16% Cu (1.38 g/t Au eq.) from hole RGD-8

(Note: gold (Au) and copper (Cu) equivalents utilize gold at $650 USD/oz and
copper at $2.00 USD/lb. Metallurgical recoveries are not considered.)

Both of these drill holes ended in gold and copper mineralization at vertical depths in excess of 500 metres. A table with a complete list of intersections from drill holes RGD-7 to RGD-9 is presented at the end of this press release as well as drill hole orientation details. In addition, a drill hole location plan map for all the holes drilled to date on Ciresata can be found on the Corporation's web site at www.carpathiangold.com. Assay results from the first six drill holes (RGD-1 to RGD-6) have been reported earlier this year on February 27th and May 12th.

"These drill results show the gold-rich nature from the recently identified gold-copper porphyry complex at Ciresata", said Dino Titaro, President and CEO of Carpathian. "The drill results from our early-stage program continue to show the significant size potential of this deposit with grades of economic tenor and have also intersected some of the highest and most continuous gold grades with copper mineralization encountered to date on the Rovina Exploration License. The close proximity of Ciresata to the Colnic and Rovina porphyry deposits will add to the feasibility of all three deposits as an integrated operation. Because of the significant mineralization encountered to date on this porphyry and its potential size that has already been outlined by the 2008 drill program, the Ciresata porphyry will now be included in the updated resource estimate that is currently underway for both the Rovina and Conic deposits. Additionally, drilling will continue at Ciresata to further determine the extent of mineralization".

Drill results from the first nine diamond drill holes at Ciresata have intersected gold and copper mineralization over an approximate area of 350 x 350 m. Results from this early-stage drill program indicate mineralization occurs 50 to 120 m beneath a magnetite altered cover of andesite with the mineralization open in three lateral directions (northeast, northwest and southeast) and at depth. Mineralization occurs as stock work veinlets of quartz-chalcopyrite-pyrite and disseminated chalcopyrite-pyrite hosted in tertiary-aged hornblende-feldspar porphyry and hornfels of Cretaceous sediments.

Drill hole RGD-7 is an angle hole drilled orthogonal to the other drill fences to test the northeast and depth extensions of this porphyry. Gold-copper mineralization was intercepted starting at 146 m down-hole to a depth of 234 m where a post mineral dike was encountered. This 88 m interval has an average grade of 0.46 g/t Au and 0.08% Cu (0.63 g/t Au eq.). Below the post-mineral dike the drill hole intersected intensely potassic-altered and stock-worked porphyry and hornfels over the down-hole interval from 340 m to the end of the hole at 627 m. This 287 m interval has an average grade of 0.90 g/t Au and 0.20% Cu (1.32 g/t Au eq.). Within this interval are zones with higher gold and copper grades such as the down hole interval from 340 m to 431 m which encountered 91 m of 1.26 g/t Au and 0.22% Cu (1.72 g/t Au eq.) that also includes 63 m (340 to 403 m) of 1.39 g/t Au and 0.22% Cu (1.85 g/t Au-eq.).

Drill hole RGD-8 is a 130 m step back hole from RGD-3 drilled in a northeast direction. Gold and copper mineralization was intersected in potassic altered and stock-worked porphyry from 176 m to the end of the hole at 633.65 m. This 457.65 m interval has an average grade of 0.88 g/t Au and 0.15% Cu (1.20 g/t Au eq). This includes zones with higher gold and copper grades from 308 m to 633.65 m which encountered 325.65 m of 1.04 g/t Au and 0.16% Cu (1.38 g/t Au eq.) that also includes 58.65 m (575 m to 633.65) of 1.22 g/t Au and 0.12% (1.47 g/t Au eq.).

Drill hole RGD-9 is an angle hole drilled from the same location as RGD-8 but in the opposite direction, to the southwest. This drill hole intersected un-mineralized phyllic altered porphyry and sediment and appears to define the southwest corner of the mineralized body approximately 300 m from the presently known centre of this system.

Resource Estimation Update

As previously reported, AMEC Americas Ltd. ("AMEC") has been retained by the Corporation to complete an updated NI 43-101 compliant resource estimate for the Rovina and Colnic porphyry deposits. This resource estimation work is progressing and will update the previous estimate provided by AMEC on May 29th, 2007 which was based on drilling completed in 2006 on each of these deposits. This update was to include the additional results from the 2007 drilling program, but has now been extended to include drill results up to April 2008 as these additional results have further refined the grade and geological block models for each of the two deposits.

Because of the discovery this year of the Ciresata porphyry and the highly significant results encountered to date, AMEC will now include this deposit in its updated resource estimate. Due to the inclusion of the Ciresata porphyry and the additional 2008 drilling results at Rovina, in conjunction with the heavy workloads experienced by all parties, the updated resource estimate is now expected to be made available early in the fourth quarter of this year.

Sample Protocol

All samples collected from any program in Romania and Hungary 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 at one metre intervals from the top to the end of the hole.

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 exploration primarily on its properties in Romania and Hungary as well as gold exploration and development on its development-stage property acquisition in Brazil.
http://biz.yahoo.com/ccn/080707/2008070 ... .html?.v=1
Jaco
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Post by Jaco » Wed May 07, 2008 1:28 pm

Carpathian Gold Inc.-Update on In-Fill & Delineation Drilling on the Rovina Porphyry, Romania, With Highlight Intersections of: 290 m at 1.05 g/t Au eq. and; 123 m at 1.37 g/t Au-eq.
Wednesday May 7, 7:53 am ET

TORONTO, ONTARIO--(Marketwire - May 7, 2008) - In the release for Carpathian Gold Inc. issued this morning at 6:00 am ET, the "Drill Hole Intersection Table for recent assay results from drilling completed in 2008 on the Rovina Porphyry, Rovina License, Romania" and the "Drill Hole Details Table" were not included in the release. The revised release follows below:
Carpathian Gold Inc. (TSX:CPN - News; "the Corporation") is providing an update on the 2008 drilling activities on its 100% owned Rovina Exploration License in central Romania, which includes the Rovina and Colnic porphyry deposits, located approximately 2.5 km apart.

At the Rovina Cu-Au Porphyry, two drill rigs have been active in 2008 with 5,870 m drilled from 12 drill holes. This drill program is comprised of in-fill and delineation drilling designed to upgrade resource categories and delineate the margins of the mineralized porphyry system. Highlight intersections from recent assay results include drill holes:

RDD-49: 290 m at 0.29 g/t Au and 0.36% Cu (1.05 g/t Au eq.) including 71 m of 0.41 g/t Au and 0.41 % Cu (1.27 g/t Au eq.)

RDD-56: 304.2 m at 0.30 g/t Au and 0.30% Cu (0.93 g/t Au eq) including 174 m at 0.36 g/t Au and 0.32% Cu (1.04 g/t Au eq.)

A previously unknown high-grade gold zone was intercepted in the southern part of the Rovina Porphyry by angle hole RRD-54 which intersected:

123 m at 0.78 g/t Au and 0.28% Cu (1.37 g/t Au eq.), including; 40 m at 1.52 g/t Au and 0.40% Cu (2.36 g/t Au eq.)

In the Baroc Valley extension to the main Rovina Porphyry, drill hole RRD-55 intersected the highest grade mineralization thus far in this porphyry extension including:

211 m at 0.29 g/t Au and 0.25% Cu (0.82 g/t Au eq.) including; 100 m at 0.41 g/t Au and 0.32% Cu (1.09 g/t Au eq.)

Note: as used in this release, gold (Au) and copper (Cu) equivalents utilize gold at $650 USD/oz and copper at $2.00 USD/lb. Metallurgical recoveries are not considered.

"We remain pleased with the results from the 2008 drilling program at the Rovina Porphyry which continues to return significant gold + copper intercepts over large continuous lengths consistent with a porphyry-style, bulk-mineable open pit deposit", said Dino Titaro, President and CEO of Carpathian. "On-going in-fill and delineation drilling which is beyond the data cut-off for the Resource Update that AMEC is presently working on will complement future project evaluation efforts".

Recent assay results from 9 drill holes are reported of which 4 drill holes are vertical in-fill and extension holes in the north and northwest part of the main porphyry body with average hole lengths of 480 m (RRD-49, 50, 52, and 56), and 4 angle drill holes across the main porphyry body with average hole length of 516 m (RRD-48A, 51, 53, and 54). One angle drill hole in the north part of the Baroc Valley extension is also reported (RRD-55) which was drilled to a length of 489 m.

Assay results from all of the drill holes completed in 2008 on the Rovina Porphyry can be found at the end of this press release. A complete listing of all drill hole results for each of the Colnic and Rovina Porphyry systems as well as drill hole locations can be found on the Corporation's web site at www.carpathiangold.com.

Drilling is also underway on the newly discovered Cerisata Porphyry, located approximately 4.5 km south of the Colnic Porphyry. Further drill results from this porphyry system will be released shortly.

Rovina Porphyry

Drilling to date (56 core holes for 27,496 m) has outlined a gold + copper mineralized over a broad area measuring up to 700 m wide in a northeast-southwest direction and varying from 500 to 200 m in a northwest-southeast direction. Drilling in 2007 discovered the low-to-moderate grade Baroc Valley mineralization, which is an extension to the main Rovina Porphyry body along a northeast-southwest trend with Cu-Au mineralization now drill-defined over 700 m. Drill hole spacing ranges from a nominal 30 metres apart in the higher-grade core of the Rovina Porphyry, to 80 m apart in the Baroc Valley extension. Part of the mineralized porphyry body is exposed on surface with drilling to date indicating mineralization to +500 m depths in the main Rovina porphyry body. Drill results also indicate that this mineralization is closed towards the south, but still remains open towards the north and northwest. Drilling is currently on-going on the Rovina porphyry with the objective to define the extent and overall grade tenor of this porphyry body.

Resource Update

AMEC Americas Limited ("AMEC") has been retained to prepare a mineral resource update of the 2006 Resource Estimate (also prepared by AMEC) on the Rovina and Colnic porphyries. This update will incorporate all drill hole data from the 2007 drilling program, which was primarily in-fill drilling to upgrade the 2006 resource categories as well as some extensional drilling, particularly on the Rovina porphyry. Building and engineering of the 3-dimensional geologic models comprised of lithology, alteration, and stockwork domains is presently in progress for the Rovina and Colnic porphyries. The estimated time for delivery of the updated resource estimate is mid second quarter 2008.

Sample Protocol

All samples collected from any program in Romania and Hungary 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 one metre intervals from the top to the end of the hole.

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 exploration primarily on its properties in Romania, Hungary and on its development-stage property in Brazil.


Drill Hole Intersection Table for recent assay results from drilling completed in 2008 on the Rovina Porphyry, Rovina License, Romania.
CLICK LINK FOR ALL DRILL RESULTS:
http://biz.yahoo.com/ccn/080507/2008050 ... .html?.v=2
steelpiston71
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Post by steelpiston71 » Mon Apr 14, 2008 9:14 pm

Apr 14, 2008 12:17 ET
Carpathian Gold Receives Shareholder Approval to Complete the Acquisition of Riacho Dos Machados Gold Project, Brazil

TORONTO, ONTARIO--(Marketwire - April 14, 2008) - Carpathian Gold Inc. (TSX:CPN) ("Carpathian" or the "Corporation") is pleased to announce that at a Special Meeting of shareholders held on April 14, 2008 for purposes of approving the proposed acquisition of the Riacho Dos Machados Gold Project, Brazil, that 51,708,194 shares were voted by the shareholders of which 86% voted for the resolution approving the completion of this acquisition. The details of the Proposed Acquisition are set out in the Corporation's Letter to Shareholders and Notice of 2008 Special Meeting and Management Information Circular dated March 17, 2008, which is available under the Corporation's profile on SEDAR at www.sedar.com. The acquisition will close as soon as all remaining closing conditions are satisfied.

Commenting on the positive shareholder vote, Dino Titaro, President and Chief Executive Officer, stated "We are extremely pleased that such a large number of shareholders have submitted their votes, with an overwhelming majority of these shareholders expressing their strong support for the Proposed Acquisition. We believe all shareholders will benefit from the growth and near-term production potential offered by the Riacho Dos Machados Gold Project. Carpathian will now move forward to complete the remaining requirements necessary to complete the acquisition and commence with the work programs in order to quickly advance this project."

An overview presentation on the Riacho dos Machados Gold Project as well as that of the Rovina Gold-Copper Project in Romania can be found on the Corporation's website at www.carpathiangold.com.

Carpathian Business Description

Carpathian is a mineral exploration company focused on gold exploration and development primarily on its Rovina Exploration License in Romania. Upon closing of the Riacho dos Machados acquisition, a second gold exploration and development property in Brazil will be added to Carpathian's portfolio.
Jaco
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Post by Jaco » Wed Feb 27, 2008 11:48 am

CARPATHIAN UPDATE ON ROMANIAN EXPLORATION AND INFILL DRILLING ON THE ROVINA PROPERTY

389 m at 1.12 g/t Au eq. at Rovina Porphyry;

125 m at 1.44 g/t Au eq. at Colnic Porphyry; &

166 m at 1.12 g/t Au eq. at the New Ciresata Porphyry


(Toronto, Ontario – February 27, 2008) Carpathian Gold Inc. (CPN:TSX) (‘the Corporation”) is providing an update on the balance of the 2007 drilling activities on its 100% owned Rovina Exploration License in central Romania, which includes the Rovina and Colnic porphyry deposits, located approximately 2.5 km apart, as well as the new Ciresata Porphyry located approximately 4 km south of the Colnic Porphyry.

At the Colnic Au-Cu porphyry, highlight intersections include drill holes RCD-73, 74, 75 76 and 84. Holes RCD-73, 74 and 76 all intersected gold-copper mineralization from surface and were drilled as in-fill holes within the high grade portion of the Colnic Porphyry. Hole RCD-75 and 84 were drilled from a lower grade area into the high-grade zone along the western margin of the porphyry body. Significant intersections from these holes are as follows:

RCD- 73: 246 m of 0.92 g/t Au and 0.13% Cu (1.19 g/t gold equivalent (“Au eq.”)) including 190 m at 1.03 g/t Au and 0.14% Cu (1.32 g/t Au eq.)

RCD- 74: 186 m of 0.76 g/t Au and 0.15% Cu (1.08 g/t Au eq.)

RCD- 75: 96 m of 0.80 g/t Au and 0.15% Cu (1.12 g/t Au eq.)

RCD- 76: 125 m of 1.14 g/t Au and 0.14% Cu (1.44 g/t Au eq.) including
70 m at 1.48 g/t Au and 0.18% Cu (1.86 g/t Au eq.)

RCD- 84: 139 m of 0.73 g/t Au and 0.15% Cu (1.05 g/t Au eq.) including
56 m at 0.89 g/t Au and 0.19% Cu (1.29 g/t Au eq.)

At the Rovina Cu-Au porphyry, highlight intersections include drill holes RRD-44 and RRD-46. These holes were drilled as in-fill holes in the main porphyry body. Highlight intersections include:

RDD-44: 389 m at 0.44 g/t Au and 0.32% Cu (1.12 g/t Au eq.) including
131 m of 0.41 g/t Au and 0.40 % Cu (1.25 g/t Au eq)

RDD-46: 142 m at 0.75 g/t Au and 0.44% Cu (1.68 g/t Au eq.) and
247 m at 0.75 g/t Au and 0.22% Cu (1.21 g/t Au eq.)

Drilling is currently on-going on the Rovina porphyry with two drill rigs continuing to define the extent and overall grade tenor of this porphyry body.
The Ciresata Project, is a new porphyry prospect located approximately 4 km south of the Colnic porphyry deposit. Drilling commenced on this prospect in early December 2007 with two holes completed by year end. As previously indicated, an initial 1,500 metre drill program is planned for this project to test for the presence of a previously unknown porphyry, the potential existence of which was forecast based on results of the Corporation’s generative exploration program completed in the summer and fall of 2007. Geologic mapping defined a porphyry alteration suite of propylitic, phyllic, and potassic alteration which is zoned towards a magnetite altered core that measures approximately 500 metres x 500 metres. This target lies within an interpreted 3 kilometre long, northeast-trending structural corridor. A completed ground magnetic geophysical survey highlighted a positive magnetic anomaly coincident with the mapped magnetite alteration zone, surrounded by a magnetic low anomaly interpreted to be a magnetite-destructive alteration zone that measures approximately 1.5 kilometres in diameter. Results from a soil geochemistry survey defined a copper + gold anomaly coincident with, and extending beyond, the positive geophysical magnetic anomaly. Rock chip sampling of sparse outcrops in the area yielded copper and gold values up to 0.29 g/t Au and 0.39% Cu.
Results from initial drilling confirm a gold + copper mineralized body occurring approximately 130 metres below surface at this locality. The first two drill holes ended in mineralization.
Highlight intersections include:

RGD-1: 166 m of 0.78 g/t Au and 0.16% Cu (1.12 g/t Au eq.) including
71 m at 1.06 g/t Au and 0.19% Cu (1.46 g/t Au eq.)

Note: as used in this release, Gold (Au) and copper (Cu) equivalents utilize gold at 650 USD/oz and copper at 2.00 USD/lb. Metallurgical recoveries are not considered.
Drilling has resumed on this porphyry to determine the extent of the mineralization and any near surface mineralization.
“We continue to be pleased that the balance of the 2007 drilling program results on both the Colnic and Rovina[what means twin-porphyries?] twin-porphyries continued to return significant gold + copper intercepts over large continuous lengths consistent with a porphyry-style, bulk-mineable open pit deposit, said Dino Titaro, President and CEO of Carpathian. “The drill intersection from our early drilling program at the new Ciresata prospect is highly encouraging and clearly indicates that we have a gold + copper mineralized body analogous to our Colnic porphyry. Additional drilling is underway to determine the extent of this mineralized body.”

A complete listing of all drill hole results for 2007 for each of the Colnic and Rovina porphyry systems as well as drill hole locations can be found on the Corporation’s web site at www.carpathiangold.com. Drill hole intersection results from the balance of the 2007 drilling program can be found at the end of this press release.

Rovina Porphyry
Drilling to date (51 core holes for 25,184 metres) has outlined a gold + copper mineralized over a broad area measuring up to 700 m wide in a northeast-southwest direction and varying from 500 to 200 metres in a northwest-southeast direction. Drilling in 2007 discovered the low-to-moderate grade Baroc Valley porphyry mineralization, which is an extension to the main Rovina porphyry body along a northeast-southwest trend with Cu-Au mineralization now drill-defined over 700 metres. Drill hole spacing ranges from a nominal 30 metres apart in the higher-grade core of the Rovina Porphyry, to 80 metres apart in the Baroc Valley porphyry extension. Part of the mineralized porphyry body is exposed on surface with drilling to date indicating mineralization to +500 metre depths in the main Rovina porphyry body. Drill results also indicate that this mineralization is closed towards the south, but still remains open towards the north and northwest. There are currently two drill rigs operating to continuethe evaluation of the extent of this porphyry.

Colnic Porphyry
Drilling to date (88 core holes for 29,349 metres) has outlined a gold + copper mineralized area of 600 metres by 500 metres, starting essentially from surface in the northwest part of the drilled porphyry-body along the higher-grade portion of the deposit, which is contained within a valley. It starts at about 150 metres below surface toward the southeast with mineralization drilled to depths of 400 metres. The limits of the deposit appear to have been defined by the 2007 drilling program.

Resource Update

AMEC Americas Limited (“AMEC”) has been retained to prepare a mineral resource update of the 2006 Resource Estimate (also prepared by AMEC) on the Rovina and Colnic porphyries. This update will incorporate all drill hole data from the 2007 drilling program, which was primarily in-fill drilling to upgrade the 2006 resource categories as well as some extensional drilling, particularly on the Rovina porphyry. AMEC is currently on site reviewing all data including, geological models, assay database and the QA/QC database. The estimated time for delivery of the updated resource estimate is early to mid second quarter 2008.

AMEC is an international project management and services company that designs, delivers and supports client assets for customers across the public and private sectors. AMEC employs more than 20,000 people working from a network of offices throughout the U.K., U.S. and Canada, as well as regional offices and projects worldwide. AMEC has more than 1,500 engineering and technical specialists working in over 80 countries in the world. AMEC is a world leader in mineral resource estimates, audits, feasibility studies and Technical Reports and has been involved in other projects with similar styles of mineralization to Colnic and Rovina, including, Oyu Tolgoi in Mongolia, Kemess in British Columbia, Cerro Casale in Chile, Boyongon in the Philippines and Grasberg in Indonesia. [Wow! does this get us a reduced fee?]
Sample Protocol
All samples collected from any program in Romania and Hungary 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 one metre intervals from the top to the end of the hole.
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 exploration primarily on its properties in Romania and Hungary as well as gold exploration and development on its proposed development property acquisition in Brazil.

For more information please contact:

Dino Titaro, President & CEO,
Or
Mike O’Brien, Manager Investor Relations
Tel. +1 (416) 368-7744 (CAN)
Fax. +1 (416) 260-2243 (CAN)
e-mail: [email protected]
Website: www.carpathiangold.com Eric Leboeuf, Investor Relations, Montreal
Tel. +1 (514) 341-0408 or
1-866-460-0408
Fax. +1 (514) 341-1527
e-mail

Drill hole intersections from Colnic Holes RCD-73 to RCD-86

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henricat
Posts: 356
Joined: Thu Mar 03, 2005 12:45 pm
Location: Edmonton, AB

new property? comments?

Post by henricat » Fri Dec 14, 2007 1:57 pm

well CPN seems to be dragging lower and lower these days. perhaps it's just tax loss selling (52 wk low these days). most shareholders are not happy about the price being offered for this new brazilian properties. especially considering that the vendors of the property already own 18% of CPN. they would own over 50% after this deal i think.

Carpathian Gold Inc. (TSX: CPN) ("Carpathian" or the "Corporation") is pleased to announce that it has entered into a letter of intent (the "LOI") outlining the terms for a definitive purchase agreement to acquire from Zoneplan Limited and Repalla Inc. (the "Vendors") a 100% interest in the Riacho Dos Machados gold project (the "Proposed Acquisition") which the Vendors hold through Melbourne Ventures Fund LLC. The project covers a 22,000 hectare land package comprising 12 exploration areas and one mining concession which incorporates all mineral and surface rights and existing infrastructure. This acquisition is in accordance with the Corporation's strategy to expand its portfolio with high quality projects.

The benefits to Carpathian of the Proposed Acquisition are as follows:

- Addition of a second, strong exploration/development platform: Located in the State of Minas Gerais, Brazil, this project is situated on a favourable greenstone belt which hosts gold mineralization associated with shear-zones known to extend regionally for tens of kilometres within similar settings.

- Permitted brownfield project with historic gold production: A high grade gold oxide deposit was previously mined from an open-pit by Companhia Vale do Rio Doce ("CVRD"), producing approximately 180,000 ounces of gold between 1989 and 1997. The historic grade of this oxide zone is 1.89 g Au/t. The surface oxide zone has not been fully exploited and is known to extend immediately to the south of the past mining activities. Similar gold geochemical anomalies are known to extend along a 10 kilometre shear zone to the north and have not been evaluated.

- Historical gold resource: Although not yet.NI 43-101 compliant, there is a historical resource of 3.77 million tons of gold mineralization at an estimated grade of 4.61 g Au/t (560,000 ounce historical resource) was calculated by CVRD in 2001, based on CVRD's analysis and experience in mining the project. This is a historical resource estimate only and is indicative of the presence of possible significant gold mineralization and is not being treated by the Corporation as a current mineral resource and as such should not be relied upon. It lies immediately below the previously mined oxide zone with metallurgical test work indicating a recovery rate of +90%. The metallurgical work whle considered reliant was not carried out by the Corporation and as such should not be relied upon. This zone was not exploited by CVRD, nor was its full extent defined. It is open at depth as well as along strike. Additional exploration potential from two previously identified nearby targets also remain to be tested.

- Existing infrastructure: Development of the Riacho dos Machados project will benefit from the extensive existing infrastructure, including: buildings, roads, power, water access and ownership of the surface rights.

- Geographic diversification of the project portfolio: The project is located in a well known mining friendly area in the state of Minas Gerais, Brazil.

- Increased gold exposure: The combination of this project with Carpathian's existing Rovina License project in Romania provides the Corporation with excellent upside potential from two very large land portfolios, which enhance the profile of the Corporation.

- Near-term gold production potential: Management believes that it may be possible to commence gold production from Riacho dos Machados in 2009. The proposed acquisition is consistent with the Corporations strategic direction to focus on near term cash flow generation to fund longer term development and exploration. Production is expected from additional surface oxide material from the existing open-pit and along strike as well as a new underground operation either utilizing an existing exploration shaft to a depth of 120 metres, or ramp access assuming the presence of economic mineralization can be established.

Commenting on the Proposed Acquisition, Mr. Dino Titaro, President and CEO, stated, "This acquisition represents an exciting opportunity for Carpathian to accelerate its goal of becoming a near term gold producer without the burden of a large capital expenditure requirement as is typical with development assets. We believe the upside potential of this land package is excellent and that this acquisition is accretive to existing shareholders and enhances the portfolio by complementing our existing exploration and development projects in Romania. Carpathian remains committed to the Rovina Project and will utilize the expanded in-house expertise that it develops from this acquisition to assist in its development".

Definitive Terms for the Acquisition

As consideration for the purchase of the Riacho Dos Machados gold project, the Corporation will issue 75 million of its common shares to the Vendors. The Corporation may also issue an additional 25 million common shares (the "Additional Common Shares") subject to the Corporation establishing a NI 43-101 compliant mineral resource estimate (all categories) within the project area which, in the aggregate amount to greater than 1,000,000 ounces. The Additional Common Shares are issuable in two tranches as follows: 12,500,000 shares being issuable to the Vendors upon the Corporation establishing one or more NI 43-101 compliant mineral resource estimates (all categories) which in the aggregate, amount to 750,000 ounces of gold and the second tranche of 12,500,000 shares being issued upon the Corporation establishing a further NI 43-101 compliant mineral resource estimate (all categories) of 250,000 ounces of gold representing an aggregate of 1,000,000 ounces. The Additional Common Shares may also be issuable in the event that the Corporation completes any business combination, including a takeover bid, amalgamation or merger, or sells, directly or indirectly, all or a substantial portion of the Riachos Dos Machado gold project. Normal course due diligence will be undertaken prior to the signing of a definitive agreement.

The definitive agreement will also provide that the Vendors will be entitled to nominate one director to the Corporation's board of directors and will have the right to participate in any future equity financings of the Corporation in order to maintain their percentage interest in the Corporation's issued share capital. The Vendors, as a group, currently own 18% of the Corporation's issued and outstanding common shares and as a result the Proposed Acquisition will be a related party transaction as defined under NI 61-501 and will therefore be subject to approval by the majority of the minority shareholders of the Corporation at a meeting to be called for this purpose in the early part of 2008. Furthermore, completion of the Proposed Acquisition will be subject to regulatory approval, due diligence and the execution of a definitive agreement between the Corporation and the Vendors. Information material on the proposed transaction will be sent to all shareholders in due course. The Board of the Directors of the Corporation has unanimously endorsed this transaction. Furthermore, a Special Committee has also been established to, among other things, ensure the fairness of this transaction to shareholders. To this effect, the Special Committee will obtain a fairness opinion from its own advisors which will report directly to the Committee.

The Corporation has engaged Canaccord Capital Corporation as its financial advisor for the Proposed Acquisition.

Resulting Carpathian Capitalization

Subsequent to the consummation of the Proposed Acquisition, the Corporation's capital structure will be as follows:

Common shares issued and outstanding 206.9 million Options and warrants outstanding 15.7 million Fully diluted common shares 222.6 million

The Corporation has approximately Cdn$17 million currently on hand.

Carpathian Business Description

The primary business of the Corporation, prior to the closing of this Proposed Acquisition, has been the exploration and development of precious metals projects, principally its Rovina gold-copper project, which consists of two gold-copper porphyry systems located in central Romania. The Corporation holds a 100% interest in the Rovina License, a 93.5 km2 land package in the historic gold producing "Golden Quadrilateral" mining district, located in the south Apuseni Mountains of central Romania. The Rovina License contains the two porphyry systems, namely, the Colnic Au-Cu porphyry and the Rovina Cu-Au porphyry prospect, which is located approximately 2.5 km to the north of Colnic. Collectively, these two deposits comprise an indicated resource of 68.0 million tonnes grading 0.64 g Au/t and 0.12% Cu, in addition to an inferred resource of 160.3 million tonnes grading 0.33 g Au/t and 0.24% copper (see press release dated May 29, 2007).

The Corporation also holds a 100% interest in the Oravita License which covers an area of approximately 132 km2 located in south western Romania on which Carlin style gold mineralization has been outlined along with Cu porphyry showings and porphyry-Au skarn showings.

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 information contained in this news release.
"Ahh..I love soup. At least I think I love soup. It's either soup or duck. Which one do you shoot?"
Jaco
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cpn.to

Post by Jaco » Fri Nov 09, 2007 12:37 pm

Message From the President of Carpathian Gold Inc.
Friday November 9, 11:57 am ET

TORONTO, ONTARIO--(Marketwire - Nov. 9, 2007) - Carpathian Gold Inc. (TSX:CPN - News; "the Corporation") is providing the following update on its activities.

We are aware that there are certain concerns amongst our shareholders and investors in general, about the outlook for mining and exploration companies operating in Romania.

Although we have on many occasions in the past commented on our experience with regard to doing business in Romania, general concerns appear to remain.

We therefore wish to take this opportunity to address these concerns pertaining to the Corporation's business and to reaffirm that the Corporation has never experienced any difficulties or suspensions in any of its activities in Romania and continues to have an excellent working relationship with all local and governmental stakeholders. Long term work permits, allowing the Corporation to complete planned work programs have been approved by the government. As previously announced, metallurgical test work indicates the project can utilize a standard cyanide-free, flotation process, producing a saleable gold-copper concentrate containing a significant portion of gold.

Furthermore, the permitting process for the possible development of our deposits will not be initiated until our feasibility study is well underway, nevertheless, we have already initiated the long lead-time environmental and socio-economic baseline studies that projects such as ours typically require.

Diamond drilling of the Corporations two wholly-owned Cu+Au porphyry deposits located in central Romania on the Rovina Exploration License is ongoing and will continue throughout the balance of this year with four drill-rigs active. To date, a total of 52,000 metres of diamond drilling have been completed since the first discovery drill-holes in February 2006. Following the initial N.I. 43-101 resource estimation, based on 24,500 meters of drilling completed in 2006 (Releases May 29, 2007), a further 27,500 meters of diamond drilling have been completed on the twin porphyry deposits of Rovina and Colnic. This drilling will further delineate and upgrade the resources categories, and include expansion drilling of each deposit and peripheral drilling to delineate the limits of each deposit. In addition, field activity is underway evaluating other high quality targets on the Rovina License and in the vicinity. There is a large backlog of samples on which the Corporation is waiting upon, but it is expected that assay results will be available for release in the short term.

The Corporation will continue to advance its porphyry Cu+Au deposits as well as continue with its long stated objectives of rationalizing all of its non-key exploration licenses in Romania and Hungary and identifying other large scale exploration/development projects that will further build on our current asset base. The Corporation is well funded with approximately $18 million in cash and no debt.

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Jaco
Posts: 1467
Joined: Thu Jan 06, 2005 1:07 pm

cpn.to

Post by Jaco » Wed Nov 07, 2007 1:27 pm

$103 million fully diluted market cap diluted with a 5.5 million gold equiv. resource.
This is a huge buying opportunity. I just bought 20,000 shares this morning at $.70 and $.71.

This whole thing with GBU has nothing to do with CPN.
GBU has to move and entire town, they have to use cyanide which has the environmentalists up their ass and George Soros is using his money and connections to block things.

Recent metalurgical test done by CPN says:
Preliminary metallurgical test work results from the Rovina and Colnic porphyry deposits has demonstrated excellent copper and gold recoveries with a saleable copper concentrate containing a significant portion of the gold that can be extracted through a standard cyanide-free flotation process (see press release dated May 29, 2007).
CPN has 5.5 million gold equiv. ounces and growing and they just hit their best intersection to date on Sept 5th which is not included in the recent resource estimate.

Carpathian Cuts Best Drill Intersections to Date; Including 544 m of 1.36 g/t Au eq. (incl. 221 m of 1.92 g/t Au eq.)
Wednesday September 5, 10:02 am ET
http://www.carpathiangold.com/site06/De ... ?tabid=138

Carpathian Gold Announces Initial Mineral Resource - Multi-Million Ounce Gold Estimate
Toronto, Ontario – May 29, 2007
http://www.carpathiangold.com/site06/De ... ?tabid=134

Probably looking at 8-10 million ounces of gold equiv.
will use a standard cyanide-free flotation process (no cyanide)
CPN does NOT have to move an entire town like GBU.
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