Re: News Release - Thursday, April 19, 2007
Title: Mandalay Announces Additional Results from La Quebrada
April 19, 2007, Vancouver, BC: Mandalay Resources Corporation (TSX.V: MLR) (the "Company") is pleased to report additional results from its La Quebrada property.
The following results establish the third resource target block "zone C", which is 1,000 m to the west of the most recent, and second drill identified resource target "zone B", and 2,800 m NW of the first resource target block "zone A", of the Las Dalmatas area on the Companys La Quebrada project, located in north - central Chile. The "zone C" drill results are as follows:
| DRILL HOLE Nº |
HORIZON 1 |
HORIZON 2 |
HORIZON 3 |
HORIZON 4 |
ASSAYS |
MTS
TRUE
WIDTH |
TOTAL INTEGRATED
THICKNESS (MTS)
FOR UNIT |
WEIGHTED
AVERAGE GRADE |
INTERCEPT (MTS)
FROM – TO |
Cu % |
Ag g/t |
| Cu % |
Ag g/t |
| DDH 08 |
0 - 5 |
- |
- |
- |
0.21 |
1 |
5 |
|
|
|
| |
- |
11 - 28 |
- |
- |
0.3 |
1.1 |
17 |
22 |
0.28 |
1.1 |
| RC 37 |
- |
27 - 31 |
- |
- |
0.16 |
1.5 |
4 |
|
|
|
| |
- |
- |
33 - 35 |
- |
0.427 |
1.6 |
2 |
6 |
0.25 |
1.5 |
| RC 38 |
- |
- |
56 - 50 |
- |
0.84 |
2.5 |
4 |
4 |
0.84 |
1.5 |
The two Dalmatas zones (to the east of "zone C") containing a total of 21 RC drill holes, gave a combined weighted grade of 0.369% Cu, 4.1 g/t Ag over an average integrated estimated true width of 12.2 m. These three holes in "zone C" project a weighted average grade of 0.344%Cu, and 1.4 g/t Ag, over an estimated average integrated horizons width of 10.3 m, which is generally consistent with the grades of the nearby trenches (see below) and that of the drill holes in " zone A" and "zone B".
Of special interest are the intercepts of the core DDH 08 mineralization, resulting in grades and thickness more closely in line with that of the trenches, than generally, the RC holes.
In the Dalmatas "zone C" where drill hole DDH 08 is located, six (6) hand dug trenches, at 100 meters to the east, and parallel to this group of drill holes, gave the following results:
TRENCH
Nº |
Cu
% |
Ag
g/t |
EST. TRUE WIDTH
(M) |
| ZL 127 |
0.325 |
1.3 |
15 |
| ZL 125 |
0.325 |
1.5 |
15 |
| ZL 113 |
0.61 |
3 |
9 |
| ZL 122 |
0.57 |
3.6 |
15 |
| ZL 124 |
0.36 |
2.2 |
15 |
| ZL 112 |
0.42 |
0.5 |
15 |
These trench grades, as also in the case of Las Dalmatas "zone B" and "zone A" to the east 800 m and 2,500 m respectively of "zone C" , are in the range of the drill hole assays.
The two Las Dalmatas zone blocks A, and B, at 1,500 m (N) x 700 m (E), and 900 m (N) x 500 m (E) respectively, are together providing a prime target over a combined area of 2,400 m x 600 m, for further drilling for a possible resource.
This preliminary drilling in Las Dalmatas "zone C" would potentially extend this resource target area an additional 1,000 m to the west; or as an additional prospective nearby resource block in Las Dalmatas.
The Las Dalmatas zone is one of four areas being drilled in exploration, targeting multiple mineralized horizons hosted in the calcareous sandstone. Mineralization is hosted in the Cretaceous aged Argueros Formation, in two calcareous sandstone beds, or arsenates, the K2 and the K4, which comprises the La Quebrada and Leoncita properties. The copper and silver mineralization occurs as finely disseminated primary chalcocite, covelite, bornite and chalcopyrite.
The gently folded sedimentary units on the property are repetitively block- faulted, exposing the mineralized units, facilitating mapping and trenching. The dip of these units ranges from, relatively flat-lying to a maximum of 25 degrees, The K2 and K4 are separated by only 30 - 50 m and mineralized horizons within these are separated by 4 - 10 m.
Trenching in extended and untested areas is continuing onwards, while a large volume of data, generated by RC and
Diamond core drilling is being organized, updated, and evaluated. The drill program has been temporarily halted, until this data processing task has been completed, and the large volume of samples delivered to the labs are processed, controlled and evaluated. The Company anticipates restarting of the drill program around June 30, 2007. In the meantime, a metallurgical testing program is underway in the field and by a major test laboratory in Santiago.
Mandalay has implemented a quality control program to ensure accuracy in the collection and analysis of samples. Accuracy of results is tested through the systematic inclusion of certified reference standards, field blanks and duplicate samples. The information contained in this news release, has been reviewed, approved, and deemed relevant by Stephen Kenwood P. Geo., a qualified person as defined under National Instrument 43-101.
On behalf of the Board of Directors:
MANDALAY RESOURCES CORPORATION
/s/ "Karl R. Antonius"
Karl R. Antonius
President
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
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Copyright © 2007 MANDALAY RESOURCES CORPORATION (MLR) All rights reserved. For more information visit our website at
http://www.mandalayresources.com/
or send email to
contact@mandalayresources.com
..
Message sent on Thu Apr 19, 2007 at 3:15:17 PM Pacific Time
