International Gold Resources, Inc. Announces the Discovery of a Large Manganese Target at Cupixi, Amapa State, Brazil
Posted on: Monday, 15 October 2007, 09:00 CDT
International Gold Resources, Inc. (Pink Sheets:IGRU) announced today that the Company has discovered a large manganese target on its Cupixi claim block in Amapa State, Brazil. The target is estimated by IGR's geologic consultant in Brazil, Tobias Geotec, to be a minimum of 30 to 50 million metric tonnes of Manganese oxide ore. This estimate is based on projected depths of at least 30 meters. Assumptions were made on mining and processing losses for ore quality upgrades. The surface area delineated is 2 km by 0.7 km. Within this area are several manganese outcrops up to 150 meters in length. Soil samples, trenches, and auger holes were used in delineating the surface area and indicated depth. The estimate is not compliant with Securities and Exchange Commission and Canadian NI43-101 standards. IGR has commenced core drilling and expects to confirm depth and mineralization continuity estimates over the next several weeks.
Mike Michels, IGR's Vice President of Brazilian operations said, "Tobias Geotec is one of Brazil's premier technical consultants. With their support, our own core drilling underway, and the oversight of Behre Dolbear, we are expecting to advance the Cupixi manganese target quickly. The Porto Grande area, where our Cupixi claims are located, is an historic manganese producing area with good infrastructure."
Behre Dolbear estimated manganese ore value delivered to Port at approximately $75 per metric tonne in their June 2007 preliminary evaluation of IGR's Brazilian assets. The full Behre Dolbear report can be viewed on the IGR Internet site, "www.intlgold.com".
IGR commissioned Tobias Geotec to perform the necessary work on the Cupixi claim area in support of IGR's application for permit extensions. IGR has timely filed the applications with the governing Brazilian authorities. IGR has commissioned Behre Dolbear to work in conjunction with Tobias Geotec to independently verify work quality as IGR proceeds with advancing the project.
About International Gold Resources, Inc.
The vision of International Gold Resources, Inc. is to maximize shareholder value by becoming recognized as one of the premier early stage gold exploration and development companies.
The statements in the press release that relate to the existence, size, value and impact of any manganese deposit on the Company are forward-looking statements, within the meaning of the private securities litigation reform act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
Source: Business Wire
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