Coventry Resources Limited (ASX:CVY) Intersected Bonanza Grade Gold In First Pass Drilling At Cameron Gold Project In Canada

Perth, April 27, 2011 AEST (ABN Newswire) - Coventry Resources Limited (ASX:CVY) is pleased to advise that it is has received analytical results from the first phase of drilling undertaken at the Ned Prospect, as part of an ongoing diamond drilling program at the Cameron Gold Project in Ontario, Canada.

The Ned Prospect is located approximately 800 metres to the north of the +1Moz Cameron Gold Deposit. As part of its systematic exploration of the Cameron Gold Project, the Company recently delineated a discrete 400-metre long induced polarisation (IP) anomaly at the Ned Prospect, following an extensive ground-based geophysical survey. Concurrent prospecting in the Ned area returned surface rock samples; assaying up to 0.38 g/t gold.

The IP anomaly is located at a geologically favourable horizon for VMS-style mineralisation - along a major interpreted stratigraphic discontinuity and appears to be localised by an interpreted feeder intrusive body.

Significantly the 6.6Moz Rainy River Gold Deposit, located some 56 kilometres to the southwest of the Cameron Gold Project, is a gold-rich VMS-style deposit. This deposit demonstrates that the Western Wabigoon Subprovince, the geological terrane that also hosts the Cameron Gold Project, is prospective for this style of mineralisation.

In a first-pass drilling program the Company recently completed four diamond core drill holes along a single fence at the Ned Prospect (640 metres). The objective of this program was to confirm whether the interpreted sulphide bodies were gold-fertile.

Analytical results have been received for these four holes. Significant massive sulphide mineralisation comprising pyrite and trace chalcopyrite was intersected in two holes. Initial one metre standard sampling recorded a result of 1.0 metres at 1.42 g/t gold from 59.0 metres in hole CND-10-002. Selective sampling of individual sulphide horizons was undertaken following the receipt of these results. This detailed sampling returned an a assay of:

- 0.13 metres at 150.0 g/t gold and 17.1 g/t Ag from 59.6 metres

This first pass drilling has confirmed that the IP anomaly at the Ned Prospect is due to massive sulphide mineralisation, and that the massive sulphide is gold-fertile. Furthermore, the Company is very encouraged that these gold-bearing massive sulphides can host bonanza grade gold mineralisation.

It is likely that such a very high-grade assay result is due to coarse-grained or nuggetty gold, possibly as part of a structural overprint to a lower-grade system. The gold assays are associated with significant silver as well as having elevated base metals and other elements associated with gold-rich VMS-style mineralisation.

The 400-metre long IP anomaly at the Ned Prospect remains untested along strike and at depth. A second phase drilling program has commenced to explore for further mineralisation along this anomaly. Further geophysical and geochemical surveying is also planned.

Cameron Gold Project - Background

Since acquiring a 100% interest in the +1Moz Cameron Gold Deposit in April 2010 the Company has quadrupled the size of its project area to more than 12,800 hectares. The Company now holds mineral rights over almost 30 kilometres of the gold-fertile Cameron and Monte Cristo Shear Zones, which host the gold mineralisation in the area.

More than 20 gold occurrences, prospects and deposits are known within the Company's project area. Very little work has been undertaken since the 1980s, hence there is considerable potential to substantially increase the Project's resource base. The Company currently has 2 diamond core drilling rigs operating at the Project as it systematically but aggressively evaluates its highest priority targets.

The Company anticipates releasing results regularly during the coming months as the drilling program progresses.

For the complete Coventry Resources announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/538740.pdf

Contact

Mike Haynes Executive Chairman Email: info@coventryres.com Tel: +61-8-9324-1266 http://www.coventryres.com