Manicouagan Commences Drilling at Mouchalagane Nickel/Copper/PGE Property
TORONTO, ONTARIO–(Marketwire – June 19, 2008) – Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today that diamond drilling on the Company’s Mouchalagane Nickel/Copper/PGE property has commenced. Mouchalagane is one of several properties within the Company’s portfolio of Mid-North Quebec nickel properties.
Initially, the 2008 drilling program will test the projected down dip extension of the mineralized zone that was intersected in the 2007 drilling campaign in the vicinity of the Bob showing. In 2007, diamond drilling encountered impressive nickel-copper-PGE mineralization of up to 1.78% Ni, 0.49% Cu, 2.11 g/t Pt and 6.47 g/ t Pd over a 2.04 metre interval (DDH MCH-07-17) at shallow depths. Significant Rhodium and Ruthenium values were also encountered during the 2007 drilling program. Sample 151082 consisting of 0.26 metres of core (42.64 metres to 42.90 metres downhole) from DDH MCH 07-05 contains 1230 ppb (parts per billion) rhodium and 1380 ppb ruthenium (1000 ppb equals 1 gram per tonne) in addition to significant platinum and palladium values. (See Manicouagan Press Releases of April 23, 2008, February 21, 2008 and January 29, 2008).
Drilling at Mouchalagane is expected to continue until mid July when the drill will be moved to the HPM/Forgues property to follow- up on significant Nickel-Copper mineralization that was intersected during a program of limited drill testing by Rockwell Ventures in 2001-2002. Unverified public records indicate drill intercepts of semi massive sulphides assayed up to 2.74% Ni, 0.86% Cu and 0.20% Co over 5.95 metres and broad intervals of disseminated sulphide mineralization assayed up to 0.53% Ni, 0.27% Cu and 0.04% Co over 28.60 metres. In total, Manicouagan expects to complete approximately 6,000 metres of drilling during the summer campaign.
Final results from the recently completed 6,400 line km AeroTEM II (airborne electromagnetic and magnetic) survey (see press releases of May 14, 2008 and April 23, 2008) are pending although preliminary results including datasets for priority areas have been received and are being interpreted to indentify potential drill targets within the 247 km2 Mouchalagane property as well as at the 106 km2 HPM/Forgues property. Priority targets will be prospected and reconnaissance grids established in order to facilitate ground geophysical surveys prior to drill testing.
A sketch showing the location of Manicouagan’s Mid-North Quebec exploration properties is attached.
To view the sketch of Manicouagan’s Mid-North Quebec exploration properties, please visit the following link:
Exploration programs on the Mouchalagane property are being carried out under the direct supervision of Francois Bissonnette, P.Geo., Senior Project Geologist for the Company’s mid north Quebec Projects.
Rod Thomas, Vice President – Exploration of the Company, and a professional geologist, has reviewed and verified the technical content of this press release on behalf of Manicouagan Minerals and is a “Qualified Person” as defined in National Instrument 43-101.
Manicouagan Minerals Inc. (TSX VENTURE:MAM) is a Canadian based exploration company with a diversified portfolio of Canadian exploration properties including the Brabant Lake Zinc/Copper deposit in Saskatchewan and the Mouchalagane Nickel/Copper/PGE project in Quebec.
Additional information about Manicouagan Minerals and its exploration projects can be found at www.manicouaganminerals.com.
All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.
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