Farallon Resources Ltd.
TSX : FAN
OTC Bulletin Board : FRLLF

Farallon Resources Ltd.

June 10, 2008 08:34 ET

Farallon Announces Additional G-9 Drill Results: 32.9 Metres Grading 11.55% Zinc, 1.71% Copper and 2.95 g/t Gold in Abajo Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2008) - Dick Whittington, President and CEO of Farallon Resources Ltd. (TSX:FAN)(OTCBB:FRLLF) ("Farallon" or the "Company"), is pleased to provide an update on the ongoing core drilling program on the G-9 deposit at the Campo Morado polymetallic (zinc, copper, silver, gold, lead) project in Guerrero State, Mexico.

Three rigs are currently deployed with two main objectives: to discover another G-9 style deposit and to increase and to extend the resources around G-9. Currently, one drill is focusing on the Abajo Zone and two drills are targeting areas northwest of the North Zone and between the North and Southwest Zones in a new area called the West Extension.

The new results are for holes 731 to 748 as shown in the attached Table of Assay Results. Hole locations are shown on the attached G-9 Drill Hole Location Map. Highlights are tabulated below.



--------------------------------------------------------------------------
Est.
Inter- True
Drill val Width
Hole From To (met- (met- Au Ag Cu Pb Zn
# Zone (metres) (metres) res) res) g/t g/t % % %
--------------------------------------------------------------------------
739 North 412.80 430.00 17.20 17.18 1.43 136 0.99 3.22 7.14
--------------------------------------------------------------------------
742 Abajo 364.00 399.00 35.00 32.89 2.95 272 1.71 4.61 11.55
Extension
--------------------------------------------------------------------------
742 Incl. 366.00 378.00 12.00 11.28 3.76 411 2.47 6.61 17.88
--------------------------------------------------------------------------
743 North 397.70 438.00 40.30 40.15 2.56 137 0.85 0.83 4.77
--------------------------------------------------------------------------
743 Incl. 411.70 430.00 18.30 18.23 2.89 140 0.43 0.74 6.08
--------------------------------------------------------------------------
743 and 411.70 415.10 3.40 3.39 8.84 420 0.39 2.79 11.33
--------------------------------------------------------------------------
745 Abajo 378.75 390.20 11.45 10.29 1.62 77 0.98 1.48 12.96
Extension
--------------------------------------------------------------------------
745 Incl. 378.75 383.75 5.00 4.49 2.37 131 1.45 2.96 17.50
--------------------------------------------------------------------------


At the Abajo Zone, holes 742 and 745 continue to expand the zone, encountering high grade mineralization over long intervals. Hole 742 intersected 32.9 metres grading 11.55% zinc, 1.71% copper and 2.95 g/t gold and hole 745 intersected 10.3 metres grading 12.96% zinc; both intersections include significant intervals at higher grades. Holes 735, 740 and 748, also drilled in this area, intersected sulphide mineralization in the El Largo horizon; hole 740 intersected both the El Largo and Abajo horizons.

Holes 739, 743, 746 are confirming continuity of the mineralization in the northeastern area of the North Zone. Hole 739 intersected 17.2 metres grading 7.14% zinc, 3.22% lead, including a 2-metre interval with 9.03 g/t gold, 501 g/t silver and 7.72% lead. Hole 743 intersected 18.2 metres grading 6.08% zinc and 2.89 g/t gold, including 3.4 metres grading 11.33% zinc, 8.84 g/t gold, 2.79% lead and 420 g/t silver.

Holes 734, 737 and 744 are step out holes drilled in the West Extension area. The holes did not intersect the West Extension but did encounter sulphide mineralization.

President and CEO, Dick Whittington said: "Results from drilling at G-9 continue to be extremely encouraging. In particular, the current results reaffirm the grade and tonnage potential of the Abajo Zone. In addition, holes 735 and 740 have intersected both the horizon that hosts El Largo and the horizon that hosts the Abajo Zone about 200 metres deeper. The Abajo Zone was expected to be 200 metres deeper than El Largo, according to our geological thesis, and it's nice to see this thesis confirmed."

The in-house qualified person for the drilling program at Campo Morado, Daniel Kilby, P.Eng., has reviewed the contents of this release. ALS Chemex is the analytical laboratory for the project; sample preparation is done in Guadalajara, Mexico and analysis is done in Vancouver, BC. All samples are assayed for gold by fire assay fusion with a gravimetric or Atomic Absorption (AA) finish. Silver, copper, lead, zinc and 27 to 30 additional elements are determined for all samples by acid digestion, followed by an AA or ICP finish. Duplicates are analyzed by Acme Analytical Laboratories in Vancouver.

Farallon is advancing the G-9 deposit through a 'Parallel Track' program. Exploration drilling is expanding and confirming the high-grade mineralization within the G-9 deposit, and mine planning and design, equipment acquisition and site preparation activities are all taking place with the goal of beginning production in July 2008.

For further details on Farallon Resources Ltd. and its Campo Morado property, please visit the Company's website at www.farallonresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

ON BEHALF OF THE BOARD OF DIRECTORS

J.R.H. (Dick) Whittington, President & CEO

Forward Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. The likelihood of future mining at Campo Morado is subject to a large number of risks and may require achievement of a number of technical, economic and legal objectives, including obtaining lower than expected grades and quantities of mineralization and resources, recovery rates and mining rates, changes in and the effect of government policies with respect to mineral exploration and exploitation, the possibility of adverse developments in the financial markets generally, delays in exploration, development and construction projects, fluctuations in the prices of zinc, gold, silver, copper, lead and other commodities, obtaining additional mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for underground and processing facilities as well as receipt of additional financing to fund mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at Campo Morado and there is no assurance that the mineralization at Campo Morado will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com and the Company's annual report on Form 20-F at www.sec.gov.



TABLE OF ASSAY RESULTS - JUNE 10 2008
--------------------------------------------------------------------------
Est.
Inter- True
Drill From To val Width
Hole Zone/ (met- (met- (met- (met- Au Ag Cu Pb Zn
# Deposit res) res) res) res) g/t g/t % % %
--------------------------------------------------------------------------
732 G-9 364.45 371.30 6.85 6.75 2.97 254 1.16 1.89 5.12
Abajo
Extension
--------------------------------------------------------------------------
732 Incl. 368.00 371.30 3.30 3.25 1.98 251 1.56 3.34 9.26
--------------------------------------------------------------------------
732 and 369.00 371.30 2.30 2.27 1.79 235 1.81 3.04 12.16
--------------------------------------------------------------------------
733 G-9 North 417.20 421.20 4.00 3.99 1.36 679 2.97 1.16 14.00
--------------------------------------------------------------------------
735 El Largo 120.00 133.00 13.00 12.84 0.34 58 5.55 0.15 0.35
--------------------------------------------------------------------------
735 G-9 368.30 370.00 1.70 1.68 4.46 391 1.40 4.03 3.79
Abajo
Extension
--------------------------------------------------------------------------
735 376.00 378.20 2.20 2.17 0.24 43 1.00 0.14 10.55
--------------------------------------------------------------------------
739 G-9 North 406.00 409.00 3.00 3.00 2.33 123 1.28 0.91 6.32
--------------------------------------------------------------------------
739 412.80 430.00 17.20 17.18 1.43 136 0.99 3.22 7.14
--------------------------------------------------------------------------
739 436.00 438.00 2.00 2.00 9.03 501 0.52 7.72 9.53
--------------------------------------------------------------------------
740 El Largo 125.65 126.05 0.40 0.40 0.98 54 0.23 0.34 6.02
--------------------------------------------------------------------------
742 El Largo 154.90 156.60 1.70 1.60 1.47 211 6.75 0.05 0.04
--------------------------------------------------------------------------
742 G-9 362.00 364.00 2.00 1.88 11.73 775 1.08 2.30 0.19
Abajo
Extension
--------------------------------------------------------------------------
742 364.00 399.00 35.00 32.89 2.95 272 1.71 4.61 11.55
--------------------------------------------------------------------------
742 Incl. 366.00 378.00 12.00 11.28 3.76 411 2.47 6.61 17.88
--------------------------------------------------------------------------
742 and 372.00 378.00 6.00 5.64 3.69 369 2.86 3.08 19.24
--------------------------------------------------------------------------
742 Incl. 382.52 395.00 12.48 11.73 2.16 234 1.58 3.99 10.87
--------------------------------------------------------------------------
742 and 382.52 394.00 11.48 10.79 2.32 251 1.68 4.33 11.16
--------------------------------------------------------------------------
743 G-9 North 397.70 438.00 40.30 40.15 2.56 137 0.85 0.83 4.77
--------------------------------------------------------------------------
743 Incl. 411.70 430.00 18.30 18.23 2.89 140 0.43 0.74 6.08
--------------------------------------------------------------------------
743 and 411.70 415.10 3.40 3.39 8.84 420 0.39 2.79 11.33
--------------------------------------------------------------------------
744 537.20 539.65 2.45 2.45 3.94 194 0.48 0.80 2.57
--------------------------------------------------------------------------
745 G-9 378.75 390.20 11.45 10.29 1.62 77 0.98 1.48 12.96
Abajo
Extension
--------------------------------------------------------------------------
745 Incl. 378.75 383.75 5.00 4.49 2.37 131 1.45 2.96 17.50
--------------------------------------------------------------------------
745 392.40 406.20 13.80 12.40 0.29 30 0.60 0.35 4.40
--------------------------------------------------------------------------
746 G-9 North 418.75 436.75 18.00 18.00 1.80 99 0.53 0.81 4.73
--------------------------------------------------------------------------
746 Incl. 418.75 423.75 5.00 5.00 2.29 191 0.84 1.31 5.60
--------------------------------------------------------------------------
746 Incl. 427.75 436.75 9.00 9.00 1.83 59 0.47 0.70 5.49
--------------------------------------------------------------------------
748 El Largo 290.15 294.15 4.00 3.34 0.29 88 3.31 0.09 0.28
--------------------------------------------------------------------------
No significant intersections: 731, 734, 736, 738, 741, 747


To view accompanying map, please click on the following link: http://media3.marketwire.com/docs/FAN_Drill_Hole.jpg

No regulatory authority has approved or disapproved the information contained in this news release.

Contact Information

  • Farallon Resources Ltd.
    Michael Curlook
    Investor Services
    (604) 684-6365 or or North America Toll Free: 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.farallonresources.com