TORONTO, ONTARIO--(Sept. 13, 2011) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) is pleased to provide this exploration
update.
Pickle Lake Gold Properties, Ontario -- Kasagiminnis Lake Gold Property
The Company has received all of the assay results from
the recently completed diamond drill program on its Kasagiminnis
Lake Gold Property, located approximately 25 kilometres
southwest of the past producing Dona Lake Mine, south of Pickle Lake, Ontario.
The Phase 2 drill program was designed to test for the
down-dip extension of the encouraging results from the Phase 1 drill program
carried out earlier this year (see
MAM Press Release dated June 1, 2011 ). In the latest program, four holes totalling 1,019 metres were
completed to their planned depth.
The results confirm that the down dip extension of the
mineralized zone intersected near surface continues to approximately 225 metres and remains open at depth.
Manicouagan's 2011 Phase 1 and Phase 2 drilling
programs concluded with 11 holes totalling 1,952 metres reaching their targeted depth to test a 250 metre interval along the 1,300 metre
long gold bearing zone previously outlined by Moss Resources and Power
Exploration Inc. in the mid to late 1980's. Three holes were abandoned due to
ground conditions.
Assay results greater than 2.50 grams per tonne ("g/t") from the Phase 1 drilling program
have been rerun using a gravimetric finish. All results from the two phase
drilling program, both fire assay "AA" and Gravimetric "Grav", are presented in the tables below.
|
|
|
Kasagiminnis
Lake Phase One Drill Results
|
|
|
|
|
|
|
|
|
|
|
Hole
|
From (m)
|
To (m)
|
Length (m)
|
Au gpt
AA
|
Au gpt
Grav.
|
|
KAS-11-01
|
116.7
|
127.8
|
11.1
|
2.82
|
2.76
|
|
incl.
|
120.7
|
125.7
|
5.0
|
4.55
|
4.45
|
|
KAS-11-02
|
|
hole abandoned
|
|
|
|
|
KAS-11-03
|
|
hole abandoned
|
|
|
|
|
KAS-11-04
|
126.1
|
134.0
|
7.9
|
6.60
|
7.24
|
|
incl.
|
126.1
|
128.0
|
1.9
|
12.86
|
12.70
|
|
KAS-11-05
|
67.5
|
70.5
|
3.0
|
2.52
|
2.21
|
|
and
|
75.5
|
77.5
|
2.0
|
5.20
|
6.02
|
|
KAS-11-06
|
63.5
|
64.5
|
1.0
|
4.21
|
3.79
|
|
and
|
98.3
|
99.7
|
1.4
|
6.24
|
7.05
|
|
KAS-11-07
|
27.7
|
51.7
|
24.0
|
0.69
|
0.83
|
|
incl.
|
27.7
|
28.5
|
0.8
|
6.95
|
8.94
|
|
KAS-11-08
|
71.3
|
93.0
|
21.7
|
1.85
|
1.91
|
|
incl.
|
72.3
|
74.8
|
2.5
|
4.60
|
5.70
|
|
and
|
83.6
|
87.0
|
3.4
|
4.49
|
4.78
|
|
KAS-11-09
|
49.5
|
57.5
|
8.0
|
2.91
|
2.79
|
|
incl.
|
49.5
|
51.3
|
1.8
|
4.73
|
5.22
|
|
and
|
54.2
|
55.7
|
1.5
|
5.80
|
5.62
|
|
note: true widths are currently estimated at 50-80%
of drilled widths
|
|
|
|
|
|
Kasagiminnis
Lake Phase 2 Drill Results
|
|
|
|
|
|
Hole
|
From (m)
|
To (m)
|
Length (m)
|
Au gpt
AA
|
Au gpt
Grav.
|
|
KAS-11-10
|
|
hole abandoned
|
|
|
|
|
KAS-11-11
|
229.7
|
230.7
|
1.0
|
5.64
|
4.88
|
|
KAS-11-12
|
231.0
|
232.0
|
1.0
|
2.64
|
2.12
|
|
KAS-11-13
|
204.3
|
205.3
|
1.0
|
2.07
|
NA
|
|
KAS-11-14
|
233.8
|
234.8
|
1.0
|
5.85
|
3.62
|
|
and
|
240.0
|
241.0
|
1.0
|
6.21
|
6.80
|
|
note: true widths are currently estimated at 50-65%
of drilled widths
|
A longitudinal section of the Kasagiminnis
Lake gold zone showing the location of Manicouagan's drill holes is attached.
To view the figure associated with this release,
please visit the following link:
.
Pickle Lake Gold Properties, Ontario -- 100% Owned
Dona Lake Property
The Company has contracted Fugro
Airborne Surveys Corp. to fly a helicopter borne HELITEM Time Domain
electromagnetic and magnetic survey with a 125 metre
flight line spacing over its 100% owned Dona Lake Property, located 10 kilometres southeast of the town of Pickle Lake. The Dona
Lake Property adjoins Goldcorp's Dona Lake Mine, which between 1989 and 1994
was operated by Placer Dome and produced approximately 250,000 ounces from 0.94
million Manicouagan Minerals Press Release September 13, 2011 tonnes of ore. The survey is expected to commence in mid September.
The results from the drilling program at Kasagiminnis Lake are being reviewed and together with the
results of the airborne survey at Dona Lake will be used to develop
Manicouagan's winter exploration program for its Pickle Lake Gold properties.
Manicouagan holds directly, or under option,
approximately 132 square kilometres within the Pickle
Lake Greenstone Belt consisting of 11 strategically located properties.
Manicouagan has earned a 51 percent interest in the Kasagiminnis,
Dorothy-Dobie Lake and Pickle Lake East gold properties and is increasing its
interest to 70 percent in these gold properties by incurring the next $1.5
million of exploration expenditures (see
MAM Press Release dated April 15, 2010).
Qualified Person
Exploration programs on Manicouagan's Pickle Lake Gold
Projects are carried out under the supervision of Mr. Bruce W. Mackie, P. Geo.
Mr. Mackie, a professional geologist, has reviewed and
verified the technical content of the information contained in this release and
qualifies under the definition of "Qualified Person" set out in
National Instrument 43-101.
Sample Preparation, Analyses and Security
The assay and sample information as well as geological
descriptions are taken from drill logs as prepared by the project geologists
for the drill program. All drill cores are BTW in size and assays are completed
on sawed half -cores, with the second half of the core kept for future
reference. The samples are put into rice bags which are sealed with security
locks for shipping directly to Accurassay
Laboratories, an accredited assay laboratory, in Thunder Bay, Ontario. The
samples are analysed using standard fire assay
procedures with an AA/ICP finish. Assay results greater than 2.50 grams per tonne were rerun using a gravimetric finish. In addition to
the standard quality control of the laboratory, a series of blanks and
standards are inserted in every shipment for quality control purposes.
About Manicouagan
Manicouagan Minerals Inc. is a Canadian based
exploration company focused on advancing its gold projects in the Pickle Lake
Gold Belt, Ontario. Manicouagan also has a pipeline of commodity projects
including the Brabant Lake Zinc deposit in Saskatchewan, and the Mouchalagane Nickel/Copper/PGE and HPM/Forgues
Nickel/Copper/Cobalt projects in Qu�bec.
Additional information about Manicouagan and its
exploration projects can be found at www.manicouaganminerals.com.
Une
traduction fran�aise de ce communiqu� de presse est disponible � www.manicouaganminerals.com.
Forward Looking Statements
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.