La Mancha Resources Inc.: More Extensional Wide High Grade Results From Frog's Leg Resource/Reserve Development Program
Posted on: Thursday, 31 January 2008, 09:00 CST
La Mancha Resources Inc. (TSX: LMA) -
HIGHLIGHTS:
- Wide high grade results from drilling continue to bridge the "Gap" between Mist/Fog and Rocket Lodes.
- MEDD134 - 62m @ 5.58g/t from 366m (incl. 10m @13.65g/t)
- Rocket extended 200m at depth below the measured and indicated resource boundary.
- MEDD128 - 1m @ 117.16g/t Au from 439m & 7m @ 6.07g/t Au from 464m
- MEDD124 - 18m @ 5.49g/t Au from 394m
- MEDD127 - 7m @ 9.83 from 359m & 4m @ 37.72g/t Au from 364m
- MEDD131 - 5m @ 14.49g/t Au from 347m
- A resource and reserve update will now commence incorporating all new holes drilled since May 2007.
La Mancha Resources Inc. (TSX: LMA) (thereafter "La Mancha" or the "Company") is pleased to announce significant results from the latest 11 diamond drill holes completed at the advanced Frog's Leg project. La Mancha, operator of the mine, holds a 51% interest in Frog's Leg with Dioro Exploration NI (AUX: DIO) holding 49%.
Since the July 2007 resource estimation diamond drilling was targeted below the Rocket Lode and in the "Gap" area between the Mist/Fog and Rocket Lodes (Figure 1). Drilling has confirmed the continuity of mineralization at depth below the Rocket and Mist/Fog measured and indicated resources and tenor of grade and width of the inferred resources. Detailed results of these 11 holes are reported in Appendix "A"
The "Gap"
Early shallow drilling between the Rocket and Mist/Fog Lodes indicated a "Gap" existed in mineralisation between the lodes. Re-logging of holes and a reinterpretation of the geological model showed undrilled potential in the "Gap" at depth. Drilling since the July 2007 resource estimation has discovered a significant wide high grade mineralization in the "Gap" with some of the richest intercepts for the whole of the Frog's Leg deposit.
Results have been received for hole MEDD134 located at the southern margin of the Mist indicated resource. The hole intersects two high-grade zones in a broad zone of mineralisation that aggregates to 62m at 5.58g/t Au which extends the area of high-grade mineralisation in the "Gap".
Rocket Lode
The July 2007 resource estimation produced a small shallow measured and indicated resource at Rocket with an inferred resource at depth. Drilling since May 2007 has in part more holes into the inferred resource envelope confirming the tenor of the mineralization.
Final results for holes MEDD124 to MEDD133 studied in combination with previously reported results extend the high-grade mineralisation 200m below the current indicated resource boundary at Rocket and confirms the continuity of the Rocket resource highlighting the potential for a significant upgrade in the indicated resource and an extended mine life.
Results are still pending for three holes drilled in the upper northern portion of the Mist resource and two deep holes drilled below Rocket and the Gap.
NEXT STEPS
During the next quarter the joint venture will conduct a resource estimation update incorporating all new results from drilling completed since May 2007. This resource update will then be used to revise the mine design at depth and update ore reserves. It is anticipated that the mineralization located at depth in the "Gap" will potentially allow for a redesign of the underground infrastructure connecting the Rocket decline with the Mist/Fog decline optimizing the decline availability and increasing productivity. This would then positively impact on the economics of the underground mine.
In 2008, La Mancha and its JV partner Dioro intend to invest $1.75 million on exploration at Frog's Leg and on targets in the near-mine area. The drilling program will focus on extending the resource along strike and at depth. Four holes will target depth extensions to Tinker located directly south of Rocket. Exploration, including RAB and RC drilling, will also target Frog's Leg style mineralization to the south of the currently defined resources. The first drilling results should be made available in the second quarter 2008.
TECHNICAL NOTE
The technical information contained in this news release was prepared under the supervision of Martin Bennett (MAIG), who is the Qualified Person under NI 43-101. Mr. Bennett is a full time employee of La Mancha Resources and cumulates more than 21 years of experience in mine geology and exploration. He has sufficient experience which is relevant to the style of mineralisation and type of deposit to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code of Exploration Results, Minerals Resources and Ore Reserves". Mr. Bennett consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
La Mancha has established an Analytical Quality Assurance Program to control and assure the analytical quality of assays in its gold exploration. This program includes the systematic addition of blank samples, pulp duplicates and internal material references ("standards") to each batch of samples sent for analysis. Blank samples are used to check for possible contamination in laboratory, duplicates allow the overall precision to be quantified while standards determine the analytical accuracy. Samples were sent for assaying to Genalysis Laboratories in Perth as a primary laboratory. All samples are half NQ2 diamond drill core sampled on a one-metre basis. Samples were assayed using a 400g LeachWell cyanide leach, followed by fire assay of the leach tail on ore grade samples. The average true widths are just over one-half of the intersection length. The locations of the intersection points are shown in the accompanying long section.
ABOUT LA MANCHA RESOURCES Inc.:
La Mancha Resources Inc. is an international gold producer based in Canada with operations, development projects and exploration activities in Africa, Australia and in Argentina.
La Mancha Resources operates and owns 51% of the Frog's Leg mine through its interests in the Mungari East joint venture with Dioro. The Frog's Leg open-pit commenced production in 2004. Operations were conducted according to the mining plan until the end of 2005, at which point surface ore extraction was finalized. Further drilling campaigns conducted since then have focused on improving the viability and development of the underground operation.
La Mancha's shares trade on the Toronto (TSX) under the symbol "LMA". For more information on the company, you may visit the web at www.lamancha.ca.
FORWARD LOOKING STATEMENT
This press release contains certain "forward-looking statements", including, but not limited to the statements regarding the quantity of mineralization in place, the mineable character of the drilling results, mining exploration risks, calculation and evolution of mineral resources, potential for resources additions, future work programs and objectives associated therewith, drilling targets and anticipated results, interpretation of work results, development plans and anticipated timetables, in particular as regards to mine development, and the economic and technical potential of the mining and milling operation. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks referred to in La Mancha's 2007 Annual Information Form filed with the Securities Commissions, and the Toronto Stock Exchange.
Appendix A --------------------------------------------------------------------------- Coordinates Depth Interval Hole ID (AMG84_51) RL (m) (m) Intercept --------------------------------------------------------------------------- Northing Easting --------------------------------------------------------------------------- MEDD124 6595489 334025 343.53 462.7 353 - 354 1m @ 2.08g/t --------------------------------------------------------------------------- 356 - 357 1m @ 4.55g/t --------------------------------------------------------------------------- 359 - 366 7m @ 9.83g/t --------------------------------------------------------------------------- 385 - 386 1m @ 2.59g/t --------------------------------------------------------------------------- 391 - 392 1m @ 1.54g/t --------------------------------------------------------------------------- 394 - 412 18m @ 5.49g/t --------------------------------------------------------------------------- 415 - 416 1m @ 1.02g/t --------------------------------------------------------------------------- 433 - 434 1m @ 10.3g/t --------------------------------------------------------------------------- MEDD125 6595477 334062 343.06 453.6 159 - 160 1m @ 1.52g/t --------------------------------------------------------------------------- 218 - 219 1m @ 2.02g/t --------------------------------------------------------------------------- 354 - 357 3m @ 5.25g/t --------------------------------------------------------------------------- 374 - 375 1m @ 1.14g/t --------------------------------------------------------------------------- 397 - 399 2m @ 3.35g/t --------------------------------------------------------------------------- 423 - 424 1m @ 1.74g/t --------------------------------------------------------------------------- MEDD126 6595539 333988 343.42 460.4 342 - 345 3m @ 10.74g/t --------------------------------------------------------------------------- 361 - 363 2m @ 1.88g/t --------------------------------------------------------------------------- 381 - 382 1m @ 6.31g/t --------------------------------------------------------------------------- 383 - 384 1m @ 6.62g/t --------------------------------------------------------------------------- 401 - 402 1m @ 4.85g/t --------------------------------------------------------------------------- 403 - 405 2m @ 1.68g/t --------------------------------------------------------------------------- MEDD127 6595538 333988 343.38 474.6 324 - 325 1m @ 5.55g/t --------------------------------------------------------------------------- 364 - 368 4m @ 37.72g/t --------------------------------------------------------------------------- 384 - 385 1m @ 4.16g/t --------------------------------------------------------------------------- 405 - 406 1m @ 1.22g/t --------------------------------------------------------------------------- 408 - 412 4m @ 17.68g/t --------------------------------------------------------------------------- MEDD128 6595561 333924 343.41 564.7 439 - 440 1m @ 117.16g/t --------------------------------------------------------------------------- 441 - 443 2m @ 2.21g/t --------------------------------------------------------------------------- 445 - 449 4m @ 2.85g/t --------------------------------------------------------------------------- 451 - 452 1m @ 21.28g/t --------------------------------------------------------------------------- 454 - 455 1m @ 2.28g/t --------------------------------------------------------------------------- 456 - 458 2m @ 2.22g/t --------------------------------------------------------------------------- 459 - 463 4m @ 4.10g/t --------------------------------------------------------------------------- 464 - 471 7m @ 6.07g/t --------------------------------------------------------------------------- 472 - 475 3m @ 5.42g/t --------------------------------------------------------------------------- 481 - 482 1m @ 1.59g/t --------------------------------------------------------------------------- MEDD129 6595514 334006 343.41 414.6 376 - 380 4m @ 4.37g/t --------------------------------------------------------------------------- 381 - 383 2m @ 1.5g/t --------------------------------------------------------------------------- 401 - 403 2m @ 5.64g/t --------------------------------------------------------------------------- MEDD130 6595514 334006 343.05 438.35 359 - 361 2m @ 3.97g/t --------------------------------------------------------------------------- 399 - 403 4m @ 13.92g/t --------------------------------------------------------------------------- 406 - 407 1m @ 2.77g/t --------------------------------------------------------------------------- 408 - 410 2m @ 2.3g/t --------------------------------------------------------------------------- 432 - 434 2m @ 1.69g/t --------------------------------------------------------------------------- MEDD131 6595427 334085 343.41 429.5 206 - 207 1m @ 1.41g/t --------------------------------------------------------------------------- 327 - 328 1m @ 2.49g/t --------------------------------------------------------------------------- 347 - 352 5m @ 14.49g/t --------------------------------------------------------------------------- 353 - 355 2m @ 2.97g/t --------------------------------------------------------------------------- 358 - 360 2m @ 2.25g/t --------------------------------------------------------------------------- 362 - 363 1m @ 1.14g/t --------------------------------------------------------------------------- 365 - 366 1m @ 1.88g/t --------------------------------------------------------------------------- 368 - 369 1m @ 1.31g/t --------------------------------------------------------------------------- 386 - 387 1m @ 6.74g/t --------------------------------------------------------------------------- 388 - 389 1m @ 4.11g/t --------------------------------------------------------------------------- 398 - 399 1m @ 5.58g/t --------------------------------------------------------------------------- MEDD132 6595567 333956 343.61 400 381 - 382 1m @ 1.86g/t --------------------------------------------------------------------------- 397 - 399 2m @ 2.53g/t --------------------------------------------------------------------------- MEDD133 6595571 333954 343.43 450.75 315 - 316 1m @ 1.04g/t --------------------------------------------------------------------------- 360 - 365 5m @ 6.55g/t --------------------------------------------------------------------------- 367 - 373 6m @ 5.91g/t --------------------------------------------------------------------------- 390 - 391 1m @ 1.66g/t --------------------------------------------------------------------------- 393 - 394 1m @ 1.00g/t --------------------------------------------------------------------------- 405 - 411 6m @ 5.10g/t --------------------------------------------------------------------------- 412 - 417 5m @ 13.30g/t --------------------------------------------------------------------------- 418 - 424 6m @ 3.87g/t --------------------------------------------------------------------------- 425 - 429 4m @ 7.27g/t --------------------------------------------------------------------------- 430 - 433 3m @ 18.78g/t --------------------------------------------------------------------------- Note : True intersection widths, based on the geometry of the lodes, are likely to be between 60 and 80% of the downhole widths. Appendix B --------------------------------------------------------------------------- Hole_ID Northing Easting RL Depth Interval Intercept --------------------------------------------------------------------------- MEDD134 333900.72 6595614.40 341.90 455.70 366 - 428 62m @ 5.58g/t --------------------------------------------------------------------------- 366 - 371 5m @ 5.03g/t --------------------------------------------------------------------------- 375 - 384 9m @ 3.39g/t --------------------------------------------------------------------------- 387 - 396 9m @ 10.14g/t --------------------------------------------------------------------------- 398 - 402 4m @ 4.26g/t --------------------------------------------------------------------------- 405 - 415 10m @ 14.17g/t --------------------------------------------------------------------------- 419 - 420 1m @ 12.60g/t --------------------------------------------------------------------------- 421 - 428 7m @ 3.12g/t --------------------------------------------------------------------------- Note: True intersection widths, based on the geometry of the lodes, are likely to be between 60 and 80% of the downhole widths.
Figure 1 is available at the following address: http://www.ccnmatthews.com/docs/Figure1_LMA.pdf
Contacts: La Mancha Resources Inc. Martin Amyot Vice President, Corporate Development 514-987-5115 info@lamancha.ca
SOURCE: La Mancha Resources Inc.
Source: MARKET WIRE
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