Canplats Resources Corporation
TSX VENTURE : CPQ

Canplats Resources Corporation

June 25, 2008 07:00 ET

Canplats Resources Corporation: Camino Rojo Reverse Circulation Drilling Continues to Enhance Represa Zone Near-Surface Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 25, 2008) - Canplats Resources Corporation (TSX VENTURE:CPQ) is pleased to announce the results of a further twenty reverse circulation drill holes completed in the Represa Zone of the Camino Rojo project in the State of Zacatecas, Mexico.

Continued drilling in the main part of the Represa Zone has confirmed the continuity of the near-surface mineralization. Of particular interest is hole CR-74, an east-bound hole drilled in the northeast corner of the zone, which intersected 270 meters averaging 0.94 grams gold per tonne, 18.83 grams silver per tonne, 0.32% lead, and 0.52% zinc, including 60 meters averaging 2.07 grams gold per tonne, 38.35 grams silver per tonne, 0.40% lead, and 0.98% zinc. Drill hole CR-80, a west-bound hole that was also drilled on the eastern side of the zone, intersected 264 meters averaging 1.01 grams gold per tonne, 17.24 grams silver per tonne, 0.29% lead, and 0.62% zinc, including 116 meters averaging 1.56 grams gold per tonne, 21.99 grams silver per tonne, 0.30% lead, and 0.82% zinc. These two holes further demonstrate the strength of the mineralization on the eastern side of the Represa Zone, which remains open for expansion.

Drill results are summarized in the following table:



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Hole From To Interval(ii) Gold Silver Lead Zinc
No. (meters) (meters) (meters) (g/tonne) (g/tonne) (%) (%)
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CR-61 2 34 32 0.69 5.74 0.11 0.17
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CR-62(i) 2 300 298 0.60 10.05 0.11 0.26
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incl. 150 300 150 0.71 11.29 0.11 0.29
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CR-63 0 258 258 0.98 12.20 0.35 0.35
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incl. 0 58 58 1.61 11.04 0.63 0.24
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CR-64 0 180 180 0.94 11.47 0.21 0.26
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incl. 0 94 94 1.29 16.14 0.31 0.31
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CR-65 58 74 16 0.62 7.95 0.12 0.28
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CR-66 0 162 162 1.43 13.47 0.30 0.42
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incl. 92 162 70 2.26 12.87 0.26 0.37
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CR-67(i) 0 210 210 1.16 15.11 0.27 0.32
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incl. 134 204 70 2.15 20.74 0.22 0.30
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CR-68 2 270 268 0.88 16.39 0.26 0.56
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CR-69 0 272 272 0.71 16.56 0.35 0.45
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CR-70 0 136 136 0.83 15.64 0.35 0.28
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CR-71 0 280 280 0.61 15.66 0.32 0.50
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CR-72 0 270 270 0.71 15.37 0.31 0.52
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CR-73 0 132 132 0.65 10.86 0.31 0.23
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CR-74 0 270 270 0.94 18.83 0.32 0.52
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incl. 154 214 60 2.07 38.35 0.40 0.98
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CR-75 4 238 234 0.33 9.07 0.19 0.44
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CR-76(i) 2 175 173 0.57 4.69 0.08 0.17
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CR-77 0 172 172 0.54 6.06 0.12 0.18
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CR-78(i) 4 174 170 0.76 8.57 0.16 0.22
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incl. 54 118 64 1.30 10.80 0.26 0.24
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CR-79 2 172 170 0.53 11.03 0.20 0.28
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CR-80(i) 0 264 264 1.01 17.24 0.29 0.62
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incl. 148 264 116 1.56 21.99 0.30 0.82
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(i) Hole ended in mineralization
(ii) True width to be determined
Maps of the drill program on the Camino Rojo property will be available at
the Canplats web site, www.canplats.com. Drill holes CR-62, CR-69 and CR-74
were drilled at -50 degrees to the east; CR-80 at -50 degrees to the west;
CR-68 and CR-73 at -50 degrees to the north. CR-76 through CR-79 were
vertical holes. All other holes were drilled at -60 degrees to the north.


The Company has now completed its initial reverse circulation drilling program at the Represa Zone and will commence an independent resource estimate upon receipt of all outstanding drill hole assays. It is expected that this initial resource estimate will be completed and announced later in the year. The Represa Zone remains open to the east, west and to depth.

A program of reconnaissance-style tensor IP geophysical surveys has also commenced to the southwest and southeast of the Represa-Don Julio Zones. This survey will initially focus on an area referred to as "Camino Rojo Dos", which is situated 20 kms to the west-southwest of the Represa Zone and was identified through similar surface prospecting methods to the Camino Rojo discovery. Regional prospecting and mapping is ongoing over the remainder of the very large Camino Rojo property, which now measures approximately 340,000 hectares (more than 1,300 square miles). The Camino Rojo property is 100% owned by Canplats and located in an area of excellent infrastructure, 50 kilometers to the southeast of Goldcorp's Penasquito mine.

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

To receive Canplats' news releases by e-mail, contact Blaine Monaghan, Director, Investor Relations, at info@canplats.com or (866) 338-0047. Some of the statements contained in the company's news releases may be forward-looking statements such as the company's future plans, objectives and goals. The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties which could cause actual results to vary considerably from these statements. The risks and uncertainties include general and economic conditions as well as those described in Canplats' SEC Form 20F.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Canplats Resources Corporation - Corporate Information
    R.E. Gordon Davis
    Chairman and C.E.O.
    Direct: (604) 484-8220
    or
    Canplats Resources Corporation - Corporate Information
    Bruce A. Youngman
    President and C.O.O.
    Direct: (604) 484-5960
    or
    Canplats Resources Corporation - Investor Inquiries
    Blaine Monaghan
    Director, Investor Relations
    Direct: (604) 484-2194 or NA Toll Free: 1-866-338-0047
    Email: info@canplats.com
    Website: www.canplats.com
    or
    G2 Consultants Corporation - Investor Inquiries
    NA Toll Free: 1-866-742-9990 or (604) 742-9990
    (604) 742-9991
    Email: canplats@g2consultants.com