Gold Exploration in West Africa

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NEW: Carbine Resources (CRB in Sydney) gold anomaly in Burkina Faso

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http://www.carbineresources.com.au/

Tuesday, May 24, 2011

Carbine Resources reveals large gold anomaly at Madougou in Burkina Faso

Carbine Resources (ASX: CRB, CRBO) has identified a geographically extensive gold geochemical anomaly from a survey on the Kandy Permit, at the Madougou Project in Burkina Faso, West Africa.

The initial results from a deep geochemistry survey over the permit indicate the presence of the large anomaly in the northeastern corner at the Foufaka prospect, highlighting the Kandy Permit's potential.

The company said anomalous values more than 25 parts per billion (ppb) gold cover an area of about 2.5 square kilometres, using a 90th percentile split of the data.

The company would be encouraged by the results as they are from the first set of samples taken. The gold anomaly is open to the south, southeast and southwest and the deep geochemistry survey is ongoing in order to ascertain its full extent.

Aoife McGrath, executive director exploration, said “we expect ongoing reconnaissance programs to outline its full extent within the next few weeks.

"Once all results have been received, infill programs will immediately be undertaken, particularly over the higher grade portions of the anomaly”.

The current reconnaissance grid spacing of 400m by 100m will be reduced during infill programs to define the higher gold tenor portions of the anomaly.

The Kandy Permit is the second of seven permits being explored by Carbine in this area with over 9.5kms of gold geochemical anomalies already defined on the Madougou Permit.

Today's results add to the ongoing exploaration success at the Madougou Project. On April 5 Carbine identified two new gold geochemical anomalies, totaling 1.2 kilometres combined strike length over the Wagande and Wagande South Prospects.
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Carbine Resources
Carbine Resources is an Australian public company based in Perth, Western Australia. The strategic objective of the Company is the advancement of shareholder’s interests through exploration and evaluation of its current projects and acquisition of additional projects on favourable terms.

Initially, Carbine will focus on increasing its gold mineral resources in the Kalgoorlie region through exploration drilling. The Company also intends to seek out further acquisitions that have the potential to underpin its growth strategy.

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