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

Farallon Resources Ltd.

May 01, 2008 08:44 ET

Farallon Announces Best Drill Results to Date at G-9 Deposit: 5 Metres Grading 31% Zinc in North Zone; 6 Metres Grading 20% Zinc in Abajo Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 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. Drilling in the North and Abajo zones has intersected the highest grades to date.

Three rigs are deployed to complete the current 35,000-metre surface drilling program. The program has two main objectives: to discover another G-9 style deposit and to increase and extend the resources around G-9.

To meet the first objective, one rig is drilling step out holes targeting the stratigraphic horizon that hosts the Abajo zone, discovered late last year. The Abajo zone is situated approximately 200 metres below the stratigraphic horizon that hosts the Reforma, El Rey, Naranjo, and El Largo deposits at Campo Morado, and its discovery has re-opened the entire area north of the San Raphael fault to further exploration. The initial results from this year's program are very promising: hole 718 intersected 8.75 metres grading 16.3% zinc, 1.71% copper and 1.99 g/t gold, including a 6-metre interval grading 20.11% zinc, 1.78% copper and 1.78 g/t gold. This is the highest grade intersection made so far at the Abajo zone.

Two drills are focused on increasing the resources at G-9. Two areas are being tested: northwest of the North zone and between the North and Southwest zones. This work has been very successful, intersecting the highest grades at Campo Morado to date: hole 709 encountered 12 metres grading 22.72% zinc, 2.39% copper and 2.66 g/t gold, including a 5-metre interval grading 31.10% zinc, 4.07% copper and 2.66 g/t gold.

The new results are from holes 700-722, drilled in the North and Abajo zones. Results are included in the Table of Assay Results - G-9 Deposit and hole locations are shown on the G-9 Drill Hole Location Map, both of which are attached. To view map please click on the following link: http://media3.marketwire.com/docs/501fan.pdf. Highlights are tabulated below:



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Estim-
ated
Drill Inter- True
Hole From To val Width
Num- (met- (met- (met- (met- Au Ag
ber Zone res) res) res) res) g/t g/t Cu % Pb % Zn %
---------------------------------------------------------------------------
709 North 498.30 510.30 12.00 11.95 3.75 334 2.39 1.41 22.72
---------------------------------------------------------------------------
709 Incl. 505.30 510.30 5.00 4.98 2.66 461 4.07 1.64 31.10
---------------------------------------------------------------------------
713 North 503.00 517.00 14.00 13.69 3.32 148 1.61 0.35 13.26
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718 Abajo 407.25 416.00 8.75 8.17 1.99 167 1.71 0.75 16.30
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718 Incl. 410.00 416.00 6.00 5.60 1.78 159 1.78 0.36 20.11
---------------------------------------------------------------------------
719 North 495.00 532.10 37.10 34.64 3.83 168 1.55 0.36 11.54
---------------------------------------------------------------------------


President and CEO Dick Whittington said: "It is our third year of drilling on the G-9 deposit and, even at this late stage, we are encountering our highest grades to date. These results are extremely encouraging for our exploration program, reaffirming the grade and tonnage potential of the North zone and showing new potential north of the San Raphael fault."

The in-house qualified person for the drilling program and selection of samples for metallurgical testwork at Campo Morado is Daniel Kilby, P.Eng., who 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 also 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 - G-9 DEPOSIT - MAY 1, 2008

---------------------------------------------------------------------------
Estim-
ated
Drill Inter- True
Hole From To val Width
Num- (met- (met- (met- (met- Au Ag
ber Zone res) res) res) res) g/t g/t Cu % Pb % Zn %
---------------------------------------------------------------------------
700 North 385.00 386.05 1.05 1.04 0.69 245 1.98 1.38 13.55
---------------------------------------------------------------------------
700 563.10 565.25 2.15 2.11 1.84 177 5.98 0.44 2.18
---------------------------------------------------------------------------
700 579.62 582.40 2.78 2.76 1.11 81 0.67 0.82 3.43
---------------------------------------------------------------------------
702 North 511.00 513.00 2.00 1.97 0.29 10 0.51 0.02 4.04
---------------------------------------------------------------------------
704 508.00 509.00 1.00 0.87 0.00 6 0.40 0.02 4.47
---------------------------------------------------------------------------
709 North 480.30 486.30 6.00 5.98 0.56 50 0.74 0.57 5.56
---------------------------------------------------------------------------
709 490.30 494.30 4.00 3.98 2.88 143 1.48 0.80 5.52
---------------------------------------------------------------------------
709 498.30 510.30 12.00 11.95 3.75 334 2.39 1.41 22.72
---------------------------------------------------------------------------
709 Incl. 505.30 510.30 5.00 4.98 2.66 461 4.07 1.64 31.10
---------------------------------------------------------------------------
711 North 522.20 528.20 6.00 5.85 1.81 90 0.81 0.81 3.43
---------------------------------------------------------------------------
711 535.00 538.00 3.00 2.92 1.94 108 0.72 0.67 3.23
---------------------------------------------------------------------------
713 North 488.00 492.00 4.00 3.91 2.63 264 3.00 3.15 7.28
---------------------------------------------------------------------------
713 503.00 517.00 14.00 13.69 3.32 148 1.61 0.35 13.26
---------------------------------------------------------------------------
718 Abajo 407.25 416.00 8.75 8.17 1.99 167 1.71 0.75 16.30
---------------------------------------------------------------------------
718 Incl. 410.00 416.00 6.00 5.60 1.78 159 1.78 0.36 20.11
---------------------------------------------------------------------------
719 North 495.00 532.10 37.10 34.64 3.83 168 1.55 0.36 11.54
---------------------------------------------------------------------------
721 North 562.20 564.20 2.00 1.93 4.66 225 0.43 1.66 4.90
---------------------------------------------------------------------------
722 North 545.50 556.50 11.00 10.52 2.52 98 0.56 0.80 2.74
---------------------------------------------------------------------------
722 598.50 600.50 2.00 1.91 3.24 130 0.40 1.17 5.61
---------------------------------------------------------------------------
No significant intersections in holes 701, 703, 705-708, 710, 712, 717 and
720.
Holes 714-716 were drilled for engineering purposes outside of the G-9 area
and were not assayed.


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 within North America: 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.farallonresources.com