Manicouagan Minerals Inc.
TORONTO, ONTARIO–(Marketwire – Sept. 4, 2008) – Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today additional encouraging drilling results from its wholly owned Mouchalagane Nickel/Copper/PGE property located north of Baie-Comeau, Quebec and also provided an update on the ongoing exploration at the HPM/ Forgues property. Both properties are located in Mid-North Quebec.
Mouchalagane – 2008 Diamond Drilling Results
Assay results have been received for the ten diamond drill holes (MCH-08-01 to MCH-08-10 totaling 1,770 metres) that were completed earlier this summer to follow up nickel/copper/PGE mineralization that was intersected by shallow drilling in 2007 (see MAM Press Release dated October, 2007). Nine of the ten holes were collared in the vicinity of the Bob Showing while drill hole MCH-08-05 was collared to test Max-Min conductor M, 350 metres west of the Bob Showing area.
Significant results include diamond drill holes MCH-08-02, MCH- 08-04 and MCH-08-08. Hole MCH-08-02, with a dip of -43 degrees, intersected the mineralized zone 43 metres down dip of MCH-07-17 and assayed 0.89% nickel, 0.28 % copper, 0.96 g/t platinum and 1.64 g/t palladium over 6.47 metres; including 1.00% nickel, 0.36 % copper, 1.80 g/t platinum and 2.31 g/t palladium over 2.11 metres. Hole MCH- 07-17 assayed 1.78% nickel, 0.49% copper, 2.11 g/t platinum and 6.47 g/t palladium over 2.04 metres.
Hole MCH-08-04, drilled from the same location as MCH-08-02, with a dip of -84 degrees intersected 0.89 metres grading 2.25 % nickel, 0.26 % copper 3.03 g/t platinum and 2.41 g/t palladium, from 90.86 metres to 91.75 metres. This interval is located about 61 metres down dip of the mineralized interval in MCH-08-02.
Diamond drill hole MCH-08-08 collared 155 metres south-west of the Bob Showing intersected 1.48 metres grading 0.72 % nickel, 0.22 % copper, 0.50 g/t platinum, and 2.57 g/t palladium.
Nickel, copper and PGE mineralization at the Bob Showing has now been traced by diamond drilling for approximately 200 metres along strike and to a depth of about 90 metres. The mineralization remains open along strike and partially at depth.
Significant results from the 2008 summer drilling program are presented in the following table:
—————————————————————- ____________ From____ To__Length____ Pt____ Pd______ Ni______Cu Hole ID________(m)____(m)__(m)(i)__(ppb)__(ppb)____%(ii)__ %(ii) —————————————————————- MCH-08-02__ 86.46__92.93____6.47____963__ 1639____ 0.89____0.28 —————————————————————- including__87.45__89.56____2.11__ 1797__ 2305____ 1.00____0.36 —————————————————————- MCH-08-04__ 90.86__91.75____0.89__ 3034__ 2406____ 2.25____0.26 —————————————————————- MCH-08-08__ 84.43__85.91____1.48____499__ 2571____ 0.72____0.22 —————————————————————- (i)__True width unknown (ii) Some trace element analysis results were used to calculate intervals
Selected samples have been sent to Activation Laboratories of Ancaster, Ontario and will be assayed for the suite of Platinum Group Elements (PGE) which in addition to platinum (Pt) and palladium (Pd) includes rhodium (Rh), ruthenium (Ru), osmium (Os), iridium (Ir) and rhenium (Re). Results are pending. Significant rhodium and ruthenium values were encountered during the 2007 drilling program. For example, sample 151082 consisting of 0.26 metres of core (42.64 metres to 42.90 metres down hole) from diamond drill hole MCH-07-05 contains 1,230 ppb (parts per billion) rhodium and 1,380 ppb ruthenium (1,000 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).
Gold, platinum and palladium concentrations are determined by fire assay using a 30 gram split mixed with fire assay fluxes and fused at 1100C for one hour. After cooling the lead button is separated from the slag and cupelled at 960C to recover the silver (dore bead) plus gold, platinum and palladium. The silver dore bead is digested in hot (95C) nitric and hydrochloric acid. After cooling for 2 hours the sample solution is analyzed for gold, platinum and palladium by ICP/OES.
Nickel, copper and cobalt concentrations are first determined by AAS initially using a 1 gram sample digested in aqua regia. In those samples where any one of the nickel, copper or cobalt concentrations as determined exceed 5,000 parts per million (equivalent to 0.5%) samples are assayed for nickel, copper and cobalt by using a 0.5 gram sample using a four acid digestion with hydrofluoric, nitric, perchloric and hydrochloric acids. Analytical services are provided by TSL Laboratories of Saskatoon. A full description of the laboratory’s analytical procedures may be viewed on their website at www.tsllabs.com.
A sketch showing drill hole locations is attached and is also available on the Company’s website at www.manicouaganminerals.com together with the results for all ten holes.
To view the sketch, please visit the following link: http:// media3.marketwire.com/docs/mam904.pdf
Field Work Continues at Mouchalagane
Ground truthing on priority airborne electromagnetic anomalies (AEM) from the recently completed AeroTEM II Airborne survey on the Mouchalagane Nickel/Copper/PGE Project is currently being carried out. The work consisting of prospecting, geological mapping, soil sampling and Horizontal Loop Electromagnetic (HLEM) surveys will continue as long as weather conditions permit.
HPM/Forgues Nickel/Copper Property
On Manicouagan’s HPM/Forgues property located some 160 kilometres east-southeast of Mouchalagane drilling continues in and around the Barre de Fer Showing. To date 13 holes totalling 2,625 metres have been drilled, with assay results received and reported from HPM-08- 01 and HPM-08-2 which include 2.34% nickel and 0.97% copper over 5.47 metres from HPM-08-01 (see MAM Press Release dated August 6, 2008). Assays are pending for holes HPM-08-03 through HPM-08-013.
Ground geophysical surveys on the property are also ongoing.
Manicouagan has an option to earn up to a 70% interest in the HPM/ Forgues property from Pure Nickel Inc. (see MAM Press Release dated November 6, 2007).
Exploration programs on the Mouchalagane Nickel/Copper/PGE property and the HPM/Forgues Nickel/Copper property are being carried out under the direct supervision of Francois Bissonnette, P.Geo., Senior Project Geologist for Manicouagan Minerals’ projects in Quebec. Francois Bissonnette, P.Geo., 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.
Management Update
Manicouagan also announced today that Mr. Rod Thomas, has stepped down as Vice President, Exploration, and left the Company to head up North American exploration for a major mining company. Management thanks Mr. Thomas for his contributions and wishes him success in his new position. Manicouagan has retained Mr. Bruce Mackie P. Geo. of Bruce Mackie Geological Consulting Services who has agreed to provide technical oversight for the Company’s exploration projects until a successor for Mr. Thomas is appointed.
About Manicouagan
Manicouagan Minerals Inc. is a Canadian based exploration company with a diversified portfolio of properties including the Brabant Lake Zinc deposit in Saskatchewan, the Mouchalagane Nickel/Copper/ PGE project in Quebec and the HPM/Forgues Nickel/Copper 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 regulator.
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