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Capella Starts Drilling on Lajitas Gold Copper Project
Thursday, October 30, 2008 9:12 AM


CAPELLA RESOURCES LTD. (TSX-V: CPS) (“Capella” or the “Company”) is pleased to announce the commencement of the 2008 – 2009 season drilling program on the Company’s 100% owned Lajitas Gold-Copper Project, located in the Maricunga Gold and Copper District in northern Chile.

The 4,000 metre drill program on the Lajitas Property 4,000 metre and is designed to test a two kilometer-diameter Induced Polarization ("IP") and Magnetic geophysical anomaly. Company geologists believe that the geophysical anomaly represents a porphyry gold/copper system in the subsurface, which supported by the results of Capella's 2006 drill program. The 2006 drill program identified a significant area of gold mineralization on the northwest corner of the IP/Magnetic anomaly with mineralization open to the south and east. A summary of highlights is listed in the table below.

Significant Drill Intersections from Capella's 2006 Drilling Program on the Lajitas Property

Hole ID

 

To (m)

 

From (m)

  Interval
Width (m)
 

Gold Grade – g/t

 

Final

Hole Depth (m)

LJ06001r 0 10 10 1.24
98 158 60 0.40
166 282 116 0.88 300
LJ06002r 142 234 92 0.95 282
LJ06003r 156 176 20 0.53
206 220 14 0.62 234
LJ06004r 98 170 72 0.7 174
LJ06005r 158 216 58 0.63
298 300 2 2.38 300
LJ06006r 70 148 78 0.60 200
LJ06007r 0 192 192 0.72 219

Capella has contracted Captagua Limitada of Santiago Chile to conduct the 4000 metre drill program. The drill rig will set-up on existing hole LJ08008c, which was started in May 2008 and shutdown due to winter weather conditions in June 2008. LJ08008c obtained a depth of 91 metres and intersected trace amounts of copper sulphides, bornite and chalcopyrite in volcaniclastic wall rocks. Additional new IP (Induced Polarization) geophysical lines were completed this month over the historic the gold resource area, augmenting existing magnetic and IP data and assisting in drill site location.

Brian Cole, B.Sc., P.Geo. is a qualified person as defined by National Instrument 43-101 and has reviewed the technical information reported in this news release for accuracy.

About Capella Resources Ltd.

Capella Resources Ltd. is a publicly traded, exploration and mineral development company with a strong portfolio of precious and base metal projects in Chile, USA and Atlantic Canada. The Company has a 100% interest in the Lajitas and Nevada gold-copper properties, located in the Maricunga Gold and Copper District and approximately 700 kilometres northwest of Santiago, Chile. The properties comprise ten exploration claims and six exploitation claims totaling a cumulative 3,500 hectares in area. The Company holds a 100% interest in the Tinton Gold Project located 15 kilometres west-northwest of the famous and historic Homestake Mine in the Black Hills at Lead, South Dakota. The Tinton property consists of 1,270 hectares contained in 157 unpatented mining claims. The Company also holds over 25,000 mineral exploration claims covering an aggregate land area of over 1.2 million acres (495,264 hectares) in Atlantic Canada (Nova Scotia, New Brunswick and Newfoundland and Labrador).

CAPELLA RESOURCES LTD.

 

per: "Richard Bachman"

 

Richard Bachman, Chief Executive Officer, President & Chief Geological Officer

Not for distribution to the United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

Capella Resources Ltd.
Diane Webber, P.Geo, 902-456-4349
Toll Free: 1-877-342-7474
info@capellaresources.com

(Source: Business Wire )


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