Dakar Resource Corp.

TSX VENTURE : DKR


November 29, 2012 15:41 ET

Dakar Reports Phase 2 Drill Results-NAP Property, Kamloops B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2012) - Mr. Allen Wilson, President and CEO of Dakar Resource Corp. ("Dakar" or the "Company") (TSX VENTURE:DKR) reports that the Company has received results from a second phase drilling program at its NAP copper-gold-silver-zinc exploration property, located 40 kilometers south of Kamloops B.C. The program targeted several intersecting and subparallel near surface Induced Polarization ("IP") anomalies.

A total of four diamond drill holes totaling 875 meters were targeted to intersect the central portion of potential bulk tonnage copper-gold-zinc mineralization on the NAP property. Results included near surface intersections of 0.16% copper and 74 ppb gold over 168.6 meters from hole N12-01 and 0.27% copper and 186 ppb gold over 41.5 meters from N12-04. A summary of results can be found in the following table.

HOLE FROM
(m.)
TO
(m.)
Length
(m.)
Cu
(ppm)
Au
(ppb)
Zn
(ppm)
N12-01 14.4 183 168.6 1619 73.7
including 16.4 48 31.6 3234 215
including 55 68.3 15.3 1454 43
including 106.5 140 33.5 1826 74
including 148 180 32 1891 54
N12-02 83.5 84.9 1.4 756 4228
N12-02 73.6 117 43.4 1219 194 889
N12-03 36 74.25 38.25 258 2994
including 67.8 74.25 6.5 2185
N12-03 96 138.8 45.5 999
N12-03 152 186.5 34 2236 58
N12-03 94 138.8 47.5 70.7
N12-04 32.5 74 41.5 2720 186
including 39 49 10 5480 520
including 39 74 35 3025 217
N12-04 103 125.9 22.9 3452 76

The 2012 drilling is a follow-up to previous work done in the 1970`s by previous operators and work done by the Company in 2011. Drill holes were planned to intersect altered and mineralized zones within the NAP shear zone, an east-southeast striking, moderately-steeply southwest dipping structure that is sub-parallel to the host stratigraphy. Copper mineralization occurs predominantly as disseminations of chalcopyrite in biotite hornfelsed metasediments with lesser augite porphyry.

Stephen Kenwood, P. Geo., a Qualified Person under National Instrument 43-101 approved the technical disclosure in this release and has verified the data included. The 2012 NAP property drill program was overseen by Leo Lindinger, P. Geo., a qualified person as defined by National Instrument 43-101. Sample analyses were conducted at Activation Laboratories Ltd.; a QA/QC program was adhered to that included the blind insertion of certified standards, duplicates and blanks into the sample stream.

ON BEHALF OF THE BOARD

Allen Wilson, President, C.E.O. and Director

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Dakar's expectations include risks related to the exploration stage of Dakar's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Dakar Resource Corp.
    Allen Wilson
    President, C.E.O. and Director
    (604) 240-4349
    (604) 681-4760 (FAX)