Canplats Resources Corporation
TSX VENTURE : CPQ

Canplats Resources Corporation

February 21, 2008 08:01 ET

Canplats Resources Corporation: Diamond Drilling Commences at Camino Rojo; Two Additional Holes Extend Gold-Silver-Lead-Zinc Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2008) - Canplats Resources Corporation (TSX VENTURE:CPQ) is pleased to announce that two diamond drill rigs have commenced drilling in the Represa Zone of the Camino Rojo project in the State of Zacatecas, Mexico. Diamond drilling will target sulphide mineralization beneath the widespread oxide gold-silver-lead-zinc mineralization that has been intersected by reverse circulation drill holes to date.

In addition, assay results have been received for two reverse-circulation drill holes that have successfully extended the margins of the Represa Zone mineralization. Drill holes CR-13 and CR-14 were both inclined at -50 degrees to the north, and were collared 50 meters to the north and 50 meters to the south of previously announced drill hole CR-12 on the easternmost section drilled to date (see news release of January 21, 2008). Significant mineralization was intersected as follows:



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Interval
From To (ii) Gold Silver Lead Zinc
Hole No. (meters) (meters) (meters) (g/tonne) (g/tonne) (%) (%)
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CR-13 0 218 218 0.91 27.83 0.49 0.55
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incl. 109 218 109 1.27 41.42 0.51 0.63
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CR-14(i) 0 237 237 0.62 21.46 0.41 0.61
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incl. 116 237 121 0.87 24.90 0.39 0.81
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(i) Hole ended in mineralization
(ii) True width to be determined


Maps of the drill program are available at the Canplats web site, www.canplats.com.

Drilling to date at Camino Rojo has outlined broad intervals of gold-silver-lead-zinc mineralization for at least 400 meters along strike and to a vertical depth of 175 meters. Oxide mineralization starts right at surface, with most holes terminating in strong mineralization. In addition to the diamond drilling program, ongoing reverse circulation drilling will focus on extending and delineating the oxide mineralization.

Induced polarization (IP) surveys have been expanded to outline potential extensions to known mineralization and new targets in adjacent areas. A reconnaissance-style geophysical and geochemical program is also being designed to identify additional priority target areas within the 150,000 hectare (580 square mile), mostly overburden-covered property.

The Camino Rojo project is wholly-owned by Canplats Resources and is 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 Chihuahua, 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 as amended.

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 (FAX)
    Email: canplats@g2consultants.com