Farallon Resources Ltd.
TSX : FAN

Farallon Resources Ltd.

April 03, 2007 08:30 ET

Farallon Updates Drilling at G-9 Deposit: New High Grade Intersections Continue to Be Made in Southeast Zone & New Zone North of San Raphael Fault Grows

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2007) - Dick Whittington, President and CEO of Farallon Resources Ltd. (TSX:FAN) ("Farallon" or "the Company"), is pleased to provide a further update of the latest results of core drilling at the Company's Campo Morado polymetallic (zinc, gold, silver, copper, lead) project in Guerrero State, Mexico. Significant intersections of high grade mineralization continue to be made. Drilling continues and remains focused on the Southeast zone of G-9 and the new sulphide lens located in the footwall of the San Raphael Fault.

The latest results are from ten new step-out exploration holes, all in the G-9 deposit. Assays are pending from a further 4 holes and will be released when received. Results from these new holes are included in the attached G-9 Assay Table. To view hole locations on the attached G-9 Drill Hole Location Map, please click on the following link: http://www.ccnmatthews.com/docs/fan0403.pdf

Highlights of the new drilling results are shown below:



--------------------------------------------------------------------------
Drill Inter- True
hole From To val Width Inter-
num- (met- (met- (met- (met- val Au Ag Cu Pb Zn
ber res) res) res) res) (feet) g/t g/t % % %
--------------------------------------------------------------------------
592 383.06 385.06 2.00 1.34 6.6 1.10 166 3.29 0.41 23.95
--------------------------------------------------------------------------
599 536.40 546.95 10.55 10.55 34.6 2.73 210 1.33 1.05 14.32
--------------------------------------------------------------------------
601 282.00 286.90 4.90 4.90 16.1 4.18 443 3.19 2.17 23.31
--------------------------------------------------------------------------
601 291.00 299.00 8.00 8.00 26.2 2.78 255 2.07 2.79 5.96
--------------------------------------------------------------------------


These holes both add to the growing "High Grade" starter portion of the Southeast Zone of the G-9 deposit and also confirm the extension of G-9 type mineralization north of the San Raphael fault. Hole 601 is a 50-metre step-out from the highest grade hole drilled on the property to date: Hole 598, which intersected 7.7 metres of 24.27% zinc and 1.5% copper (News Release dated March 15, 2007) and confirms the extension of this very high grade area to the west of the Southeast Zone. These results add further to the size and grade of the planned high grade starter mining area at G-9, with obvious potential economic benefits.

Hole 599 is a 50-metre step-out from the "discovery" Hole 596 that intersected 8.3 metres of 10.79% zinc and 0.89% copper (News Release dated March 15, 2007) in a new zone of G-9 type mineralization north of the San Raphael fault. This is extremely significant as it confirms that these holes have opened up the area north of the fault to additional G-9 type discoveries. The massive sulphide horizon intersected in Hole 599 is the same as that intersected in Hole 596. A further intersection of this horizon is awaiting assay results. As announced in the March 15 News Release, this horizon is related to a package of felsic volcanic rocks that are stratigraphically below the El Largo, Naranjo and El Rey deposits north of the fault. As a result, it opens up the potential for continued discovery of G-9 type mineralization in a large area north of the San Raphael fault.

Dick Whittington said: "These results are further evidence of the potential to add to the G-9 deposit. Hole 601 intersected plus 20% zinc grade material and it has a second mineralized horizon, thus this is a very meaningful step-out hole for both resource tonnes and grade, and for production potential in the initial years of mining. Hole 599 is huge as it reaffirms the potential to significantly add to the resource potential in the G-9 area and the Campo Morado property as a whole.

We are continuing with our two drills/two objectives drilling plan (News Release dated January 24, 2007); however, we will be reviewing our plans on an ongoing basis, to assess the benefits of moving both drills to the area north of the San Raphael fault. Until then, our objectives for this year's drilling program remain unchanged: first, to add to the high grade Southeast Zone of G-9 and secondly, to discover another G-9. We continue to make very real progress toward both these objectives."

The in-house qualified person for the drilling program and selection of samples for metallurgical testwork at Campo Morado is Daniel Kilby, P.Eng. 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.

For further details on Farallon Resources Ltd. and its Campo Morado property and photographs of the decline development work, 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.

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 form those in the forward-looking statements. The likelihood of future mining at Campo Morado is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary 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 significant additional financing to fund these objectives as well as funding 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.



CAMPO MORADO G-9 DRILL RESULTS
APRIL 3, 2007

--------------------------------------------------------------------------
Drill Inter- True
hole From To val Width
num- (met- (met- (met- (met- Au Ag Cu Pb Zn
ber res) res) res) res) g/t g/t % % %
--------------------------------------------------------------------------
305 298.80 303.30 4.50 4.50 3.30 210 1.22 0.79 4.73
--------------------------------------------------------------------------
307 327.40 335.15 7.75 7.00 0.56 65 1.53 0.52 5.20
--------------------------------------------------------------------------
308 326.43 327.31 0.88 0.80 0.18 35 4.38 0.03 0.21
--------------------------------------------------------------------------
348 260.75 262.12 1.37 1.37 2.93 489 2.61 1.60 2.02
--------------------------------------------------------------------------
348 275.75 277.15 1.40 1.40 1.67 34 0.69 0.06 8.13
--------------------------------------------------------------------------
348 285.50 287.35 1.85 1.80 0.28 21 0.73 0.14 3.69
--------------------------------------------------------------------------
368 284.00 285.00 1.00 1.00 3.05 757 0.59 0.61 0.47
--------------------------------------------------------------------------
370 132.14 133.70 1.56 1.00 0.61 57 1.61 0.88 1.66
--------------------------------------------------------------------------
370 248.50 250.50 2.00 1.30 0.25 46 0.37 0.77 3.59
--------------------------------------------------------------------------
370 484.20 484.90 0.70 0.40 0.05 22 6.73 0.00 5.03
--------------------------------------------------------------------------
370 512.80 515.30 2.50 1.60 0.19 7 0.89 0.02 4.08
--------------------------------------------------------------------------
370 517.00 518.00 1.00 0.60 0.17 9 0.99 0.02 5.28
--------------------------------------------------------------------------
374 375.00 375.40 0.40 0.40 0.13 12 4.20 0.03 0.59
--------------------------------------------------------------------------
374 391.60 392.05 0.45 0.45 0.77 298 1.76 6.08 8.76
--------------------------------------------------------------------------
420 377.43 392.29 14.86 13.96 1.06 67 1.76 0.69 14.16
--------------------------------------------------------------------------
420 Incl. 377.43 387.43 10.00 9.40 1.41 91 1.96 0.97 17.91
--------------------------------------------------------------------------
436 472.05 476.05 4.00 3.80 1.29 62 0.37 0.74 4.91
--------------------------------------------------------------------------
436 524.70 525.75 1.05 1.00 1.42 184 1.46 0.58 1.17
--------------------------------------------------------------------------
458 369.00 372.00 3.00 3.00 0.56 39 2.56 0.02 3.43
--------------------------------------------------------------------------
464 348.20 372.00 23.80 23.50 3.54 195 0.89 0.72 12.16
--------------------------------------------------------------------------
464 Incl. 348.20 367.20 19.00 18.80 4.26 232 0.91 0.86 13.89
--------------------------------------------------------------------------
464 Incl. 360.20 367.20 7.00 6.90 4.58 308 0.98 1.03 22.19
--------------------------------------------------------------------------
467 303.15 306.93 3.78 3.74 3.76 259 0.57 1.60 4.02
--------------------------------------------------------------------------
467 317.25 335.05 17.80 16.40 6.56 545 1.38 3.85 6.69
--------------------------------------------------------------------------
467 Incl. 317.25 323.75 6.50 6.00 6.96 370 2.22 1.47 11.10
--------------------------------------------------------------------------
467 Incl. 328.05 333.05 5.00 4.60 8.47 970 1.30 10.44 5.44
--------------------------------------------------------------------------
468 491.00 502.20 11.20 10.00 1.48 73 0.42 0.52 5.26
--------------------------------------------------------------------------
468 Incl. 491.00 497.00 6.00 5.40 1.76 80 0.35 0.56 6.46
--------------------------------------------------------------------------
474 433.30 451.12 17.82 17.70 3.19 242 1.51 1.28 2.22
--------------------------------------------------------------------------
474 Incl. 434.30 440.30 6.00 6.00 2.81 231 2.55 2.03 5.30
--------------------------------------------------------------------------
474 460.12 464.90 4.78 4.78 13.60 834 0.41 3.66 4.30
--------------------------------------------------------------------------
479 423.20 445.20 22.00 21.60 1.60 98 0.54 0.78 6.83
--------------------------------------------------------------------------
479 Incl. 423.20 435.00 11.80 11.60 2.25 139 0.60 0.94 8.34
--------------------------------------------------------------------------
481 459.40 494.60 35.20 34.90 2.16 253 2.96 1.82 8.38
--------------------------------------------------------------------------
481 503.00 522.50 19.50 19.30 2.72 209 1.45 1.05 14.74
--------------------------------------------------------------------------
481 Incl. 508.40 514.00 5.60 5.50 4.46 370 1.90 0.92 25.90
--------------------------------------------------------------------------
481 Incl. 508.40 512.00 3.60 3.60 4.72 451 1.82 1.11 32.10
--------------------------------------------------------------------------
483 482.40 495.50 13.10 13.00 5.06 191 1.36 0.55 10.60
--------------------------------------------------------------------------
484 353.05 356.30 3.25 3.00 0.63 129 2.28 0.91 13.24
--------------------------------------------------------------------------
484 399.94 406.94 7.00 6.50 3.79 255 0.54 2.37 2.90
--------------------------------------------------------------------------
485 343.85 352.10 8.25 7.90 4.76 370 2.14 1.42 5.51
--------------------------------------------------------------------------
485 Incl. 343.85 348.85 5.00 4.80 5.17 437 3.16 1.68 7.22
--------------------------------------------------------------------------
485 407.00 409.00 2.00 1.90 0.41 26 1.46 0.31 4.31
--------------------------------------------------------------------------
486 504.05 509.45 5.40 5.30 2.40 115 1.67 0.79 9.81
--------------------------------------------------------------------------
486 526.45 529.65 3.20 3.10 2.87 171 1.32 1.43 6.10
--------------------------------------------------------------------------
486 535.80 545.00 9.20 9.00 4.15 162 1.61 1.07 10.20
--------------------------------------------------------------------------
486 549.30 576.50 27.20 26.50 16.02 609 0.90 1.01 5.22
--------------------------------------------------------------------------
486 Incl. 551.30 559.30 8.00 7.80 45.89 1555 0.29 1.34 2.46
--------------------------------------------------------------------------
486 Incl. 555.30 558.30 3.00 2.90 66.80 2233 0.25 1.50 2.03
--------------------------------------------------------------------------
486 592.35 593.75 1.40 1.40 1.14 96 1.15 0.44 4.92
--------------------------------------------------------------------------
488 429.00 449.70 20.70 19.00 1.00 87 0.86 0.98 6.08
--------------------------------------------------------------------------
488 Incl. 429.00 445.70 16.70 15.30 1.09 97 0.94 1.14 6.44
--------------------------------------------------------------------------
488 Incl. 429.00 441.70 12.70 11.70 1.25 115 1.03 1.40 6.88
--------------------------------------------------------------------------
490 425.60 435.25 9.65 9.20 1.68 214 2.45 1.91 11.81
--------------------------------------------------------------------------
490 Incl. 426.30 430.40 4.10 3.90 2.69 426 4.41 3.95 19.36
--------------------------------------------------------------------------
495 269.25 271.30 2.05 1.80 0.42 23 0.56 0.05 6.84
--------------------------------------------------------------------------
496 518.40 531.40 13.00 12.50 2.36 119 0.73 0.90 3.56
--------------------------------------------------------------------------
496 557.40 561.17 3.77 3.20 2.74 109 0.68 0.87 3.92
--------------------------------------------------------------------------
498 429.15 445.90 16.75 14.50 1.97 190 1.93 2.93 21.27
--------------------------------------------------------------------------
498 Incl. 429.15 436.90 7.75 6.70 2.28 262 2.32 3.95 20.32
--------------------------------------------------------------------------
498 468.90 473.30 4.40 3.80 15.99 682 0.33 3.42 5.73
--------------------------------------------------------------------------
500 486.50 489.50 3.00 3.00 0.15 18 1.86 0.02 7.94
--------------------------------------------------------------------------
503 540.00 544.00 4.00 3.90 2.41 136 1.11 0.54 1.21
--------------------------------------------------------------------------
503 555.00 559.60 4.60 4.50 0.43 18 1.32 0.04 9.16
--------------------------------------------------------------------------
509 506.70 515.70 9.00 9.00 1.01 62 0.38 0.35 5.58
--------------------------------------------------------------------------
509 538.25 551.82 13.57 13.57 3.26 205 1.14 0.97 6.88
--------------------------------------------------------------------------
509 Incl. 545.13 551.82 6.69 6.69 3.01 158 1.21 1.05 9.33
--------------------------------------------------------------------------
510 559.00 568.00 9.00 8.80 4.87 269 0.72 4.54 10.94
--------------------------------------------------------------------------
510 Incl. 559.00 563.00 4.00 3.90 4.25 285 0.81 6.64 15.66
--------------------------------------------------------------------------
510 573.90 585.90 12.00 11.70 11.10 639 0.82 1.95 7.64
--------------------------------------------------------------------------
510 Incl. 582.00 585.00 3.00 2.90 34.95 1930 0.70 2.86 5.78
--------------------------------------------------------------------------
510 Incl. 583.00 585.00 2.00 2.00 45.70 2653 0.62 2.90 6.25
--------------------------------------------------------------------------
511 558.50 560.10 1.60 1.60 1.36 130 1.18 0.95 9.31
--------------------------------------------------------------------------
512 593.95 596.10 2.15 2.10 2.30 166 2.28 1.26 12.88
--------------------------------------------------------------------------
517 498.50 508.00 9.50 8.20 1.17 114 1.39 1.16 10.27
--------------------------------------------------------------------------
517 503.85 508.00 4.15 3.60 0.69 102 2.07 0.43 15.11
--------------------------------------------------------------------------
517 582.00 589.00 7.00 6.10 4.82 153 0.50 1.75 2.73
--------------------------------------------------------------------------
519 491.10 494.07 2.97 2.60 0.73 21 1.03 0.02 6.54
--------------------------------------------------------------------------
522 488.00 492.80 4.80 4.20 3.01 160 1.46 0.91 13.70
--------------------------------------------------------------------------
525 517.10 521.10 4.00 3.10 0.63 73 1.77 0.21 1.36
--------------------------------------------------------------------------
527 525.29 542.25 16.96 16.80 4.17 227 0.46 1.70 5.81
--------------------------------------------------------------------------
527 Incl. 529.29 536.20 6.91 6.80 5.60 309 0.68 2.16 6.06
--------------------------------------------------------------------------
527 546.20 550.20 4.00 4.00 0.27 40 2.71 0.04 3.33
--------------------------------------------------------------------------
531 531.33 558.96 27.63 26.70 2.30 194 1.26 1.21 6.92
--------------------------------------------------------------------------
531 Incl. 533.33 536.00 2.67 2.60 4.75 311 0.61 3.11 10.70
--------------------------------------------------------------------------
531 Incl. 550.06 557.06 7.00 6.80 2.61 194 2.57 1.01 8.00
--------------------------------------------------------------------------
532 379.20 381.00 1.80 1.70 0.12 115 4.96 0.09 0.90
--------------------------------------------------------------------------
534 417.30 421.80 4.50 3.90 2.61 205 1.37 1.12 4.97
--------------------------------------------------------------------------
535 531.70 534.50 2.80 1.80 4.19 210 0.75 1.13 3.01
--------------------------------------------------------------------------
536 585.85 594.85 9.00 9.00 1.95 110 0.42 1.01 3.82
--------------------------------------------------------------------------
536 Incl. 590.85 594.85 4.00 0.80 0.80 56 0.60 0.89 6.71
--------------------------------------------------------------------------
541 577.00 584.00 7.00 5.90 1.14 106 0.44 0.77 6.94
--------------------------------------------------------------------------
541 Incl. 580.00 583.00 3.00 3.00 0.60 69 0.51 0.58 9.66
--------------------------------------------------------------------------
544 538.40 547.15 8.75 8.75 3.27 202 0.61 0.87 3.28
--------------------------------------------------------------------------
544 Incl. 538.40 541.40 3.00 3.00 4.05 243 0.44 1.41 6.09
--------------------------------------------------------------------------
546 541.15 546.00 4.85 4.85 7.14 306 0.38 1.86 6.62
--------------------------------------------------------------------------
546 Incl. 543.15 545.15 2.00 2.00 7.58 313 0.45 2.55 13.28
--------------------------------------------------------------------------
554 485.60 487.90 2.30 2.30 0.13 39 1.14 0.52 12.64
--------------------------------------------------------------------------
555 533.88 572.50 38.62 38.62 1.90 138 0.50 0.83 3.55
--------------------------------------------------------------------------
555 Incl. 533.88 550.50 16.62 16.62 2.96 213 0.38 1.13 2.85
--------------------------------------------------------------------------
555 554.50 559.50 5.00 5.00 1.38 122 0.91 0.71 4.42
--------------------------------------------------------------------------
555 564.50 572.50 8.00 8.00 1.00 61 0.50 0.85 5.42
--------------------------------------------------------------------------
557 512.00 516.65 4.65 4.65 2.58 135 0.46 0.48 1.80
--------------------------------------------------------------------------
559 509.65 513.65 4.00 2.45 3.68 205 0.67 1.01 2.51
--------------------------------------------------------------------------
562 388.50 394.20 5.70 5.42 4.06 236 1.14 1.74 5.10
--------------------------------------------------------------------------
562 Incl. 390.50 394.20 3.70 3.52 4.60 260 1.39 1.97 7.55
--------------------------------------------------------------------------
562 409.50 411.50 2.00 1.90 1.58 80 1.73 0.15 1.62
--------------------------------------------------------------------------
563 545.00 549.80 4.80 3.68 2.96 169 1.21 0.86 3.32
--------------------------------------------------------------------------
563 551.00 557.00 6.00 4.60 0.71 122 2.36 0.31 1.38
--------------------------------------------------------------------------
563 562.40 567.40 5.00 3.83 1.08 89 3.12 0.69 3.85
--------------------------------------------------------------------------
563 572.60 576.60 4.00 3.06 0.54 54 0.66 0.25 8.65
--------------------------------------------------------------------------
564 379.50 383.50 4.00 3.94 1.95 128 0.44 0.91 1.62
--------------------------------------------------------------------------
565 407.00 421.00 14.00 12.60 1.63 100 0.64 0.91 4.56
--------------------------------------------------------------------------
565 Incl. 417.00 421.00 4.00 3.60 2.06 92 0.76 1.12 6.19
--------------------------------------------------------------------------
566 544.00 550.00 6.00 4.60 3.61 242 0.37 1.25 0.14
--------------------------------------------------------------------------
566 552.00 554.00 2.00 1.53 1.44 263 3.13 0.72 4.76
--------------------------------------------------------------------------
566 558.00 566.00 8.00 6.13 1.56 95 1.75 0.54 3.77
--------------------------------------------------------------------------
566 566.00 571.00 5.00 3.83 0.77 91 0.38 0.50 4.72
--------------------------------------------------------------------------
566 576.00 584.00 8.00 6.13 0.95 80 1.29 0.59 5.73
--------------------------------------------------------------------------
571 404.60 406.50 1.90 1.82 0.40 79 3.13 0.03 0.16
--------------------------------------------------------------------------
572 556.60 560.60 4.00 3.98 4.92 282 0.69 1.27 2.72
--------------------------------------------------------------------------
572 560.60 564.30 3.70 3.69 2.93 234 0.73 1.04 0.72
--------------------------------------------------------------------------
576 402.30 416.30 14.00 13.80 0.43 33 2.13 0.11 14.79
--------------------------------------------------------------------------
576 Incl. 402.30 406.30 4.00 4.00 0.72 70 2.43 0.27 24.33
--------------------------------------------------------------------------
578 400.50 406.50 6.00 6.00 1.38 103 3.35 1.10 17.01
--------------------------------------------------------------------------
578 413.50 417.50 4.00 4.00 0.17 13 1.38 0.04 8.24
--------------------------------------------------------------------------
580 382.30 387.05 4.75 4.11 3.42 264 1.65 2.21 15.59
--------------------------------------------------------------------------
580 389.18 391.22 2.04 1.77 0.93 53 1.82 0.30 10.94
--------------------------------------------------------------------------
591 346.60 346.78 0.18 0.18 0.89 91 3.09 0.57 29.60
--------------------------------------------------------------------------
592 383.06 385.06 2.00 1.34 1.10 166 3.29 0.41 23.95
--------------------------------------------------------------------------
596 534.65 542.95 8.30 8.30 2.96 240 0.89 0.91 10.79
--------------------------------------------------------------------------
596 Incl. 537.65 542.95 5.30 5.30 2.74 239 1.05 1.08 12.49
--------------------------------------------------------------------------
597 266.05 272.05 6.00 5.91 0.77 39 0.83 0.38 7.94
--------------------------------------------------------------------------
598 285.85 294.50 8.65 7.71 2.25 122 1.52 0.84 24.27
--------------------------------------------------------------------------
599 536.40 546.95 10.55 10.55 2.73 210 1.33 1.05 14.32
--------------------------------------------------------------------------
599 Incl. 538.40 545.40 7.00 7.00 3.07 232 1.48 1.26 16.80
--------------------------------------------------------------------------
601 281.20 286.90 5.70 5.70 4.35 422 3.03 2.01 20.71
--------------------------------------------------------------------------
601 Incl. 282.00 286.90 4.90 4.90 4.18 443 3.19 2.17 23.31
--------------------------------------------------------------------------
601 and 283.00 286.00 3.00 3.00 3.28 470 3.96 1.43 30.06
--------------------------------------------------------------------------
601 290.10 305.00 14.90 14.90 3.27 223 1.62 1.90 4.52
--------------------------------------------------------------------------
601 Incl. 291.00 299.00 8.00 8.00 2.78 255 2.07 2.79 5.96
--------------------------------------------------------------------------
602 329.90 331.60 1.70 1.69 5.41 534 3.59 1.06 12.38
--------------------------------------------------------------------------
605 278.50 283.50 5.00 4.93 0.72 273 1.70 2.19 9.78
--------------------------------------------------------------------------

Holes with no significant intersections: 306, 372, 415, 432, 441, 459-464,
465-466, 469-473, 476, 487, 489, 491, 493-494, 497, 499, 501-502, 504-508,
513, 515-516, 518, 520, 521, 523-524, 530, 533, 537-540, 542-543, 545,
547-548, 550-553, 556, 558, 560-561, 567-570, 573-575, 577, 579, 581,
593-595, 600, 603, 604.

Abandoned holes: 492, 514, 549

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

Contact Information

  • Farallon Resources Ltd.
    Shawn Wallace
    Investor Services
    (604) 684-6365 or within North America 1-800-667-2114
    (604) 684-8092 (FAX)
    Website: www.farallonresources.com