Coventry Resources Limited (ASX:CVY) Announce Encouraging Drilling Results From Satellite Prospects At Cameron Gold Project

Perth, May 19, 2011 AEST (ABN Newswire) - Coventry Resources Limited (ASX:CVY) is pleased to advise that it has received analytical results from the recently completed ice drilling program undertaken at the Cameron Gold Project, Ontario, Canada.

This program was implemented between January and April 2011 to take advantage of the enhanced access provided to certain areas during the northern-hemisphere winter.

Twenty four diamond drill holes (for 3,950 metres) were completed from the surface of frozen lakes at the Victor, Monte Cristo, Kangaroo, Bouchie and Cross Prospects. Significant gold mineralisation has been intersected at three of these prospects.

These results further confirm the substantial potential to develop additional deposits as satellites to the +1Moz Cameron Gold Deposit, where the Company is fast tracking the permitting of an open pit mining operation.

Two diamond drilling rigs continue to operate at the Cameron Gold Project, with the focus of field activities now turned to undertaking resource extension drilling at the Cameron Deposit itself and completing feasibility studies.

Further exploration of the regional prospects will continue on a campaign basis as drilling results come to hand and are interpreted and as new targets are brought to a drill-ready stage.

Victor Prospect

The Victor Prospect is located approximately 10 kilometres along strike from the Cameron Gold Deposit, within the Monte Cristo Shear Zone.

Forty one holes have been drilled previously at the Victor Prospect for 8,427 metres.

The Company recently drilled nine diamond core holes for 1,490 metres. This comprised infill and extensional drilling. Some very encouraging results were returned including:

- 18.0 metres at 3.06 g/t gold from 60.0 metres
- 10.0 metres at 2.71 g/t gold from 92.0 metres
- 7.0 metres at 2.54 g/t gold from 81.0 metres
- 10.0 metres at 2.27 g/t gold from 72.0 metres, including 3.0 metres at 5.20 g/t gold from 78.0 metres
- 8.0 metres at 2.33 g/t gold from 293.0 metres

These results confirm the presence of substantial gold mineralisation at the Victor Prospect. In several holes mineralisation was considerably thicker than anticipated. Mineralisation remains open in all directions.

Having conducted some confirmatory drilling the Company anticipates that it will be able to calculate an inaugural JORC Code compliant resource for the mineralisation at the Victor Prospect with the completion of further drilling.

Monte Cristo Prospect

The Monte Cristo Prospect is located 1,000 metres along strike to the northeast of the Victor Prospect, also within the Monte Cristo Shear Zone.

The Company recently completed five diamond drill holes totalling 925 metres. This comprised infill and extensional drilling. Encouraging results were returned including:

- 5.0 metres at 3.04 g/t gold from 48.0 metres
- 6.0 metres at 1.75 g/t gold from 151.0 metres
- 3.0 metres at 2.22 g/t gold from 83.0 metres
- 5.0 metres at 1.65 g/t gold from 182.0 metres
- 1.0 metre at 7.24 g/t gold from 104.0 metres

These results confirm the significant mineralisation at the Monte Cristo Prospect. It is anticipated that it will also be possible to calculate an inaugural JORC Code compliant resource for the mineralisation at the Monte Cristo Prospect with the completion of further drilling.

Kangaroo Prospect

The Kangaroo Prospect is located eight kilometres east of the Cameron Gold Deposit. It comprises a pronounced 350 metre long, ovoid magnetic anomaly within the Monte Cristo Shear Zone. It lies within an area of structural complexity and alteration. Adjacent heavy mineral concentrate till samples by a previous explorer returned assays of more than 30,000 ppb (30.0 g/t) gold.

The Company recently completed six diamond drill holes totalling 855 metres as a first pass evaluation of this prospect. These holes were drilled across the main portion of the magnetic anomaly. Two of the holes intersected significant mineralisation including:

- 1.0 metre at 2.02 g/t gold from 19.0 metres
- 1.0 metre at 1.04 g/t gold from 138.0 metres

In light of these encouraging results additional drilling is planned to further evaluate the discrete magnetic anomaly at the Kangaroo Prospect.

Bouchie Prospect

The Bouchie Prospect is located adjacent to the Kangaroo Prospect and comprises a heavy mineral concentrate till anomaly extending over a strike of 600 metres. Part of this anomaly appears to be associated with the Kangaroo magnetic anomaly, which it may be related to.

Two holes were drilled recently to evaluate this prospect (490 metres). Neither of the holes intersected significant mineralisation. Further drilling is planned as only a small proportion of the proposed holes were completed during the recent program, hence the till anomaly remains largely untested.

Cross Prospect

The Cross Prospect is located six kilometres east of the Cameron Gold Deposit within the Monte Cristo Shear Zone. A heavy mineral concentrate sample from a basal till sample collected by a previous explorer returned results up to 7,924 ppb (7.92 g/t) gold.

Two drill holes were drilled recently for 200 metres. Neither of the holes intersected significant mineralisation.

Further surface sampling will be undertaken prior to assessing the significance of the results of these holes.

Forward Work Program

The Company continues to aggressively explore the Cameron Gold Project, with two drilling rigs continuing to operate at the Project.

A second phase 10 hole (1,889 metre) drilling program was recently completed at the Ned Prospect to follow up recently discovered bonanza grade VMS-style gold mineralisation that returned up to 0.13 metres at 150.0 g/t gold from 59.6 metres. Analytical results from all follow-up holes are pending.

A first pass drilling program comprising approximately 18 holes (~1,800 metres) at the Sullivan Prospect is nearing completion (11 holes completed to date for 1,360 metres). Analytical results for all holes are pending.

Analytical results from a further 26 holes (2,408 metres) drilled at the Meston Prospect remain outstanding.

Results will be released regularly following receipt and interpretation.

Extensional and feasibility study drilling has resumed at the Cameron Gold Deposit itself. At least one rig will continue to operate there for the next two months. The second rig will alternate between drilling at the Cameron Deposit and undertaking first, second and third phase drilling programs at the more regional prospects.

For the complete Coventry Resources Limited announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/542346.pdf

Contact

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