MANICOUAGAN MINERALS REPORTS 23.28% Al2O3 and 468 PPM TREO OVER 76.1 METRES IN THE INITIAL DRILLING PROGRAM AT ITS CLORIDORME ALUMINOUS CLAY PROPERTY
TORONTO, February 4, 2013 - Manicouagan Minerals Inc. (TSXV -- MAM) �the Company� is pleased to report the results of the initial orientation drilling program on its Cloridorme property located in the Gasp� Peninsula of Quebec.
Drilling Program
The objective of the drilling program was to determine the grade, thickness and potential strike length of the aluminous red argillite (mudstone) formation located by surface mapping and sampling in different sectors of the property (see MAM Press Release dated August 2, 2012). A total of 533 metres, in six (6) holes, of core drilling was completed in three sectors of the property (A, B and C). The red and green aluminous mudstones were confirmed in each sector. A surface plan map with drill-hole locations along with cross sections is available on the Company�s website.
| Cloridorme Drill Results |
| Sector |
Drill Hole ID |
From (m) |
To (m) |
Interval (m) |
Al2O3 (%) |
TREO (ppm) |
| |
|
|
|
|
|
|
| A |
CI-12-01 |
3.00 |
54.00 |
51.00 |
19.60 |
not assayed |
| |
CI-12-02 |
44.20 |
147.50 |
103.30 |
19.79 |
not assayed |
| |
|
|
|
|
|
|
| B |
CI-12-05 |
3.00 |
21.00 |
18.00 |
19.46 |
not assayed |
| |
CI-12-06 |
9.00 |
85.10 |
76.10 |
23.28 |
468.00 |
| |
|
|
|
|
|
|
| C |
CI-12-03 |
12.00 |
45.00 |
33.00 |
23.39 |
not assayed |
| |
CI-12-04 |
12.00 |
78.00 |
66.00 |
23.74 |
not assayed |
In Sector A, on the west end of the property, a steeply dipping band of red aluminous mudstone with an estimated true thickness of 78 metres was intersected with boreholes Cl-12-01 and Cl-12-02 which returned 51 metres at 19.60% Al2O3 (alumina) and 103.3 metres at 19.79% Al2O3 respectively. Hole CL-12-01 started and ended in mineralization. Sector A is on strike with Orbite Aluminae�s Marin Deposit. Both holes are approximately 2.3 kilometres from Orbite�s eastern claim boundary. Four surface samples of red mudstones, 800 metres on strike west of holes Cl-12-01 and 02, returned 18.78%, 19.67%, 20.25% and 20.34% Al2O3.
In Sector B, approximately 6.6 kilometres east of Sector A, a band of red mudstone with a minimum estimated thickness of 77 metres was intersected with boreholes Cl-12-05 and 06 returning 18 metres at 19.46% Al2O3 and 76.10 metres at 23.28% Al2O3 respectively. Both holes started in mineralization and only the northern, the footwall, red mudstone/host rock contact was intersected. The red mudstone unit remains open across the thickness.
In Sector C, 2.5 kilometres east of Sector B, a 75 metre thick band of red mudstone was intersected with boreholes Cl-12-03 and 04 returning 33 metres at 23.39% Al2O3 and 66 metres at 23.74% Al2O3 respectively.
All red mudstone units intersected in the drilling are open at depth and along strike and thickness for Sector B. Collectively, the above assays represent a weighted average grade of 21.6% Al2O3 over the intercepts of the six drill holes.
The 76.10 metre red mudstone section in hole CL-12-06 was also analyzed for Rare Earth Oxides and certain Rare Metals returning an average of 468 ppm TREO, 44.88 ppm Gallium oxide (Ga2O3) and 24.74 ppm Scandium oxide (Sc2O3). Rare Earth Oxide assay results from a surface sampling program completed in June 2012 were reported in MAM Press Release dated October 31, 2012.
Total rare earth oxides (TREO) are defined as La2O3+ Ce2O3+ Pr2O3+ Nd2O3+ Sm2O3+ Eu2O3+ Gd2O3+ Tm2O3+ Dy2O3+ Er2O3+ Tb2O3+ Ho2O3+ Yb2O3+ Lu2O3+ Y2O3.
The lighter rare earth oxides, La2O3+ Ce2O3+ Pr2O3+ Nd2O3+ Sm2O3+ Eu2O3, make up 79% of the TREO.
All assaying was carried out by ALS Minerals of Vancouver BC. A quality assurance/quality control (QA/QC) program was followed, with the insertion of standard, blank and duplicate samples into the sample stream.
The Company�s CEO, Brian Carter, commented, �The assay results of the drilling program are in line with the grades we expected for the red mudstones and are very similar to the grades encountered by Orbite Aluminae. While we only assayed for REE in one hole it again met our expectations. These results add further confirmation of the potential of the Cloridorme property in terms of size and grade.�
�I would also like to inform our shareholders that we continue to make progress through the regulatory process for approval of our proposed amalgamation with Flemish Gold Corp.�
About Manicouagan
The Company is a Canadian based exploration company focused on advancing its aluminous clay property in the Gasp� Peninsula of Quebec, which also contains significant values of REE, and its gold projects in the Pickle Lake Gold Belt, Ontario. The Company also has commodity projects including the Brabant Lake Zinc deposit in Saskatchewan, and the Mouchalagane Nickel/Copper/PGE and HPM/Forgues Nickel/Copper/Cobalt projects in Quebec.
Qualified Person
Exploration programs on the Company�s Cloridorme property are carried out under the supervision of Mr. Claude Britt, P.Geo. Mr. Britt 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.
Additional information about the Company 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.
For further information contact:
W. Brian Carter, Chief Executive Officer
briancarter@manicouaganminerals.com
Tel: 647 234 1583
Or investorrelations@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.
Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource at the Cloridorme property to date, and it is uncertain if further exploration will result in such target being delineated as a mineral resource.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.