Reservoir Capital Corp.

Reservoir Capital Corp.

December 03, 2007 08:00 ET

Reservoir Reports New High-Grade Gold and Copper-Molybdenum Results From Stara Planina, and Provides an Update on the Drilling At Brestovac and Plavkovo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2007) - Reservoir Capital Corp. (TSX VENTURE:REO) ("Reservoir" or the "Company") is pleased to report results of its trenching and soil sampling from the Stara Planina property in Eastern Serbia. Regional soil and rock chip sampling has identified two large gold and base metal anomalies Gradiste and Aldinac, where mineralization is related to granodiorites that have intruded the gabbroic basement rocks.

The 2007 summer season focused on detailing the Gradiste target. Trenching across gold-in-soil anomalies identified a number of narrow and locally high grade zones of gold mineralization at Miljanina Cuka, with the best results 0.5 meters at 101.5 grams per tonne ("g/t") gold and 1.3 meters at 35.7 g/t gold. This mineralization appears to be similar to the Gradiste road cut where rock samples from abandoned exploration adits yielded 59.4 g/t and 28.2 g/t gold and to the abandoned Aljin Do bismuth-gold mine where reports of historical work described grades of 24 g/t to 62 g/t gold. Further geological and geophysical work is planned to define continuity of the mineralization and identify drill targets for 2008.

A copper-in-soil anomaly has also been defined with 100 to 1,000 parts per million ("ppm") copper over an area of about 1,500 meters by 500 meters adjacent and to the north of the area of trenching and high-grade gold mineralization. This anomaly is contiguous with a larger 3.4 kilometre by 1.0 kilometre anomaly identified in the regional sampling. The copper soil anomaly is also marked by anomalous molybdenum (greater than 0.5 ppm molybdenum, maximum 14.5 ppm), tungsten (0.5 - 8 ppm), tin, bismuth and tellurium. Within the anomaly, Company geologists have found outcropping copper mineralization, chalcopyrite and malachite, in silicified and brecciated gabbros. Continuous rock chip sampling over 8 meters (four 2 meter samples, max 1.63% copper) yielded an average of 0.77% copper. The Company considers that the size, grade and continuity of the copper geochemical anomalies in the Gradiste area are encouraging and justify conducting a significant exploration program in 2008. The geological setting and geochemical anomalism are closely comparable to the intrusion related copper-gold class of ore deposits.

Location maps for Stara Planina will be posted on the Company's website in the coming days.

Brestovac and Plavkovo Updates

The Company has suffered delays with its drill programs at Plavkovo and Brestovac due to both equipment problems and adverse weather conditions. The two rigs testing the Plavkovo high-sulphidation gold target are currently drilling holes BK-1 which is at 170 meters and BK-3 which is at 247 meters. The infill-drilling at Brestovac is proceeding with one rig, which has drilled 100 meters in drill hole BN-11 and is currently at 50 meters on BN-13; a second rig is expected on site in the coming days. A geophysical (Induced Potential) survey over the Bor-type copper-gold targets to the south of the Brestovac gold mineralization has been completed and the data is being processed and interpreted. The Company intends to drill through the winter.

Comments on Sampling, Assaying and Quality Control

The Company's soil and rock geochemical samples were collected in accordance with accepted industry standards. The samples were submitted to the ALS Chemex laboratories in Vancouver (ISO 17025 accredited) for analysis: gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined by ICP MS/AAS techniques. The Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays.

Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, is responsible for the preparation of the technical information in this release.

About Reservoir

Reservoir is a natural resource company, currently exploring for gold and base metals on eight exploration properties in Serbia and actively seeking new business opportunities through its in-country team of geologists and business development specialists. Reservoir's common shares trade on the TSX Venture Exchange under the symbol "REO".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Reservoir Capital Corp.
    Miljana Vidovic
    (604) 662-8448
    Reservoir Capital Corp.
    Miles Thompson
    (604) 662-8448
    Reservoir Capital Corp.
    Kim Casswell
    Corporate Secretary
    (604) 662-8448
    (604) 688-1157 (FAX)