De Beira Goldfields Inc.: Titiribi Resource Estimate
PERTH, WESTERN AUSTRALIA--(CCNMatthews - Dec. 13, 2006) - De Beira Goldfields Inc ("DE BEIRA" or the "Company") (OTCBB:DBGF)(FWB:D1Q)(WKN:A0JDS0) is pleased to announce an Inferred Resource estimate for the Titiribi Project located in Colombia.
De Beira commissioned Raylar Pty Ltd, an Australian based geological consultancy, to review the existing data and to calculate an inferred resource estimate for the Titiribi Copper Gold project in Colombia.
Raylar Pty Ltd has also concluded that, on the basis of its current interpretation of the limited drill data, considerable potential exists at Titiribi to expand the resource base. The deposit is open along strike and at depth, and the Company is confident the current drilling campaign will reveal further mineralisation.
Raylar Pty Ltd has reported as follows:
--------------------------------------------------grade range Tonnes Grade Ounces Grade TonnesAu g/t Au g/t contained Cu g/t Cu0.3 to 0.5 203,800,000 0.39 2,556,000 1017 207,2650.5 to 1 19,000,000 0.59 360,000 1342 25,498greater than 1 500,000 1.24 21,000 671 336TOTAL 223,300,000 0.41 2,937,000 1044 233,098--------------------------------------------------
--------------------------------------------------TOTAL 223,300,000 0.41 2,900,000 0.104% 233,000--------------------------------------------------
Uncomposited drill data was used to fill the block model, 1452 assay records were used. Gold (Au) and copper (Cu) were estimated using inverse distance squared methodology. Geological continuity between sections was assumed and a search radius of 400m, approximate distance between 'fence lines', was utilised. The search ellipse was orientated towards 080 as the drilling seemed to define a broad trend in this direction. No further rotations were assigned to the search ellipse. Each cell had a minimum of 2 assay records required and a maximum of 32 in creating cell estimations. No top-cuts were used. Specific gravity of 2.6 was used.
The resource estimation is considered as inferred and the figures are outlined in the table above. These numbers are preliminary and are still undergoing validation as further drilling continues. Raylar Pty Ltd made assumptions with respect to bulk densities, the reliability of the data provided, the appropriateness of the analytical techniques, the representative nature of the sampling, natural surface elevations, the geological continuity of the mineralisation and the structural controls on grade distribution. All these aspects are undergoing further investigation.
The Titiribi project gold and copper resource reported herein is classified as inferred as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the "JORC" Code). The JORC Code is widely accepted as a standard for professional reporting purposes. The resource is classified as inferred as a consequence of drill spacing and density, insufficient bulk density data and insufficient data on the weathering profile. However, accuracy of reported surface drilling and associated data is believed to be good.
Reg Gillard, President
About DE BEIRA GOLDFIELDS INC.
DE BEIRA is a Nevada based mineral exploration company. The Company has recently initiated a new program to evaluate undervalued assets for potential addition to its mineral claim portfolio.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that plan for or anticipate the future, called "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of those terms and other comparable terminology.
These forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements about: our market opportunity; revenue generation; our strategies; competition; expected activities and expenditures as we pursue our business plan; the adequacy of our available cash resources; our ability to acquire properties on commercially viable terms; challenges to our title to our properties; operating or technical difficulties in connection with our exploration and development activities; currency fluctuations; fluctuating market prices for precious and base medals; the speculative nature of precious and base medals exploration and development activities; environmental risks and hazards; governmental regulations; and conduct of operations in politically and economically less developed areas of the world.
Many of these contingencies and uncertainties can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to our most recent annual report on Form 10KSB and other filings made by us with the United States Securities and Exchange Commission for more detailed discussions of the contingencies and uncertainties enumerated above and the factors underlying the forward-looking statements. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800 -SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at www.sec.gov.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy, or sell any security.
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