Canplats reaches deep for low grade gold

Vancouver The final nine drill results are in for Canplats Resources‘ (CPQ-V) Camino Rojo property in the central Mexican state of Zacatecas showing another set of long, relatively low-grade gold, silver, lead and zinc intercepts.

With 23 diamond and 92 reverse circulation drill holes punched into the ground since late 2007, Canplats has completed an impressive 38,000 metre program at Camino Rojo, primarily in what it has called the Represa zone.

The latest diamond drill results returned intercepts largely grading between about 0.5 and 1 gram gold per tonne in that zone. Longer intercepts include 445 metres starting from surface in hole 15 grading 0.73 gram gold, 17.13 grams silver per tonne, 0.33% lead and 0.63% zinc.

Hole 18 extended the Represa zone to the southwest by about 300 metres. It hit 75 metres grading 0.54 gram gold, 4.91 grams silver, 0.04% lead and 0.10 gram zinc starting 502 metres downhole.

So far Canplats has traced the around 300 metre wide Represa zone for about 800 metres striking southwest to northeast and to a depth of over 700 metres. It remains open to the southwest and northeast and at depth.

With the drill results in, Canplats says it plans on having a resource estimate finished by the end of the year.

On news of the drill results Canplats share price dropped 24 to close at $1.66.