Chapleau Resources Ltd. (CHI: TSX-V) has initiated the Phase 3-drill program of 7,000 m on the Coringa Gold Project in Brazil. This phase of drilling will initially include targeting the strike and depth extensions of the high-grade gold zone of the Meio target (200 m strike length) and drilling along extensions and at depth of the gold zone at Serra (800 m strike length). A summary of gold results previously reported for these 2 zones includes the following:

 

MEIO ZONE
BHID	FROM (m)	TO (m)	WIDTH (m)	Au_g/t
BR_COR_DDH11	50.00	51.50	1.5	31.25
BR_COR_DDH62	56.00	59.00	3.0	65.77
BR_COR_DDH65	116.00	118.00	2.0	5.85
SERRA ZONE
BHID	FROM (m)	TO (m)	WIDTH (m)	Au_g/t
BR_COR_DDH1	33.00	34.50	1.5	29.31
BR_COR_DDH41	60.50	62.00	1.5	14.82
BR_COR_DDH42	38.00	39.50	1.5	22.47
BR_COR_DDH57	97.00	98.50	1.5	16.08
BR_COR_DDH61	98.50	100.00	1.5	15.97
BR_COR_DDH38	36.20	37.80	1.6	9.08

 

 

The location of all 66 drill holes for the phase 1 and 2 drill programs and the first 12 holes for the Phase 3 program at Coringa are highlighted on the website:www.chapleauresources.com, see maps – #’s 3 and 10).

 

Interpretation of the IP and magnetic survey results to date has highlighted at least another 23 new targets representing approximately 3,450 m strike of potential gold mineralization, which have the same and/or better chargeability response as previously drilled gold zones such as Serra and Galena-Vesa-Boca (see website: www.chapleauresources.com, see geophysical maps – #’s 14 and15). 

 

Ian Gendall, President of Chapleau, commented that: “The 62 line-km IP Survey together with the 90 line-km magnetic survey have provided excellent data for the definition of targets for our Phase 3 drill program. This new information combined with the 1,109 line-km EM airborne geophysical program currently underway and the previously released pan concentrate sample results will significantly enhance the expansion of the currently known 10 km of gold mineralized structures at Coringa. The discovery of additional gold-bearing parallel structures demonstrates the potential for multiple mineralized zones at Coringa. Favorable IP results have also allowed us to expand the survey an additional 24 line-km to include further regional targets identified from the pan concentrate gold anomalies ”. 

 

Given the accelerating advancement of Chapleau’s Brazilian gold projects, the Company is increasingly focusing on the financial requirements for project development and strategic planning. In this light, Chapleau is pleased to announce that it has appointed David Stypula as Vice President of Corporate Finance. Mr. Stypula, who has a Bachelor of Science degree with a specialty in finance, has been an investment advisor for the past 3 years with CIBC Wood Gundy. Mr. Stypula’s duties include assisting Management and the Board of Directors in developing effective liaisons with financial institutions and investors for the purpose of generating the necessary funds to support and expand the scope of the Company’s business.

 

This press release was prepared by Ian Gendall, Pr. Sci. Nat., a qualified person in compliance with National Instrument 43-101.

 

For technical information regarding this press release, kindly contact Ian Gendall at 604 669 8511.

  

BY ORDER OF THE BOARD OF DIRECTORS

Signed:

   “Ian Gendall”      _      
Ian Gendall/President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.