"We have discovered mineralized zones that are very different from the
Northern part of the Pasto Bueno property where we are currently
extracting and milling tungsten," said Alonso Sanchez, Chief geologist for
Malaga. "We have high expectations for this new unexplored area, which
contains high tungsten grades as well as interesting values for gold,
copper and a number of other metals."
Mr. Sanchez noted that the latest results include 35 grab samples on
all four of the manto structures, and that Malaga expects the next stage
of hole-drilling to be completed and assayed over the next few months. "We
are pursuing our 10-hole (4,900 meters) drilling program up to the highest
part of the manto structures, the Manto Santa, between now and the
beginning of 2012," he said.
Malaga's expanded exploration in the Consuzo Zone started during the
second quarter of 2011 with the objective of exploring the four manto
structures. Going from the bottom of the mountain to the top, the
exploration team drilled more than 290 m to reach Manto Gossan where
economic lengths of drill core (5.60 m thick) reported 2.36 m in width of
1.19% W03 (tungsten
in the form of scheelite), 0.77 g/t Au (gold) and 0.46% Cu (copper)
(HDD-05-11). Given the interesting level of gold in the drill
hole, the grab samples from the manto structure will be assayed for
gold.
| New Drilling Results and Grab
Samples |
| |
Mineralization |
| Drills |
Intersection |
WO3 |
Au |
Cu |
Ag |
| Id |
Depth
(m) |
(%) |
(g/t) |
(%) |
(oz/t) |
| HDD-05-11 |
43.2
– 45.4 |
0.04 |
0.03 |
0.01 |
0.00 |
| HDD-05-11
- 1 |
45.4
– 47.8 |
1.19 |
0.77 |
0.46 |
0.05 |
| HDD-05-11
- 2 |
47.8
– 48.9 |
0.01 |
0.01 |
0.02 |
<0.02 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
|
|
|
|
|
| Structure
Name |
Grab
Sample |
WO3
(%) |
Cu
(%) |
Ag
(oz/t) |
| Manto
Candelaria |
15912 |
0.01 |
0.00 |
0.10 |
| |
15913 |
<0.01 |
0.00 |
0.04 |
| |
15924 |
<0.01 |
0.01 |
0.25 |
| |
15925 |
<0.01 |
0.00 |
0.05 |
| Manto
Gossan |
14914 |
1.92 |
0.23 |
0.05 |
| |
14915 |
0.19 |
0.13 |
0.08 |
| |
14916 |
5.80 |
0.16 |
0.07 |
| |
15910 |
0.15 |
0.50 |
0.06 |
| |
15911 |
0.20 |
0.50 |
0.06 |
| |
15930 |
<0.01 |
0.01 |
0.19 |
| |
15931 |
0.01 |
0.05 |
0.21 |
| |
15932 |
0.04 |
0.07 |
0.14 |
| |
15938 |
1.25 |
0.26 |
0.12 |
| |
15963 |
1.30 |
0.27 |
0.14 |
| Manto
Maciste |
15308 |
0.13 |
0.01 |
0.85 |
| |
15915 |
0.32 |
0.01 |
0.49 |
| |
15916 |
0.28 |
0.01 |
1.41 |
| |
15917 |
0.21 |
0.01 |
0.27 |
| |
15918 |
0.73 |
0.01 |
0.26 |
| |
15919 |
0.23 |
0.02 |
1.75 |
| Manto
Santa |
14893 |
0.11 |
0.38 |
0.03 |
| |
14894 |
0.11 |
0.47 |
0.02 |
| |
14895 |
<0.01 |
0.37 |
<0.02 |
| |
14896 |
0.05 |
0.50 |
<0.02 |
| |
14897 |
0.18 |
0.70 |
0.03 |
| |
14905 |
0.20 |
0.92 |
0.08 |
| |
14906 |
0.13 |
0.31 |
0.02 |
| |
14907 |
0.18 |
0.18 |
0.05 |
| |
15902 |
0.62 |
0.80 |
0.05 |
| |
15904 |
0.42 |
1.73 |
0.09 |
| |
15905 |
0.93 |
0.69 |
0.03 |
| |
15906 |
0.42 |
0.37 |
0.02 |
| |
15907 |
0.25 |
0.54 |
0.02 |
| |
15908 |
0.04 |
0.15 |
<0.02 |
| |
15909 |
0.14 |
0.48 |
0.02 |
The samples also identified the following metals: gold, molybdenum,
zinc, antimony, and bismuth.
A New 43-101 report is scheduled for Q1 2012. In 2012, Malaga will
continue its exploration with the objective to delineate inferred
resources in this zone.
See enclosed longitudinal map
This Press Release has been read and approved by Alonso Sanchez, P.
Eng. and Chief Geologist for Malaga Inc. He acts as the qualified person
("QP") for the Company and is a geologist affiliated with the American
Institute of Professional Geologists (AIPG).
About Malaga
Malaga Inc. owns and operates a mine in Peru and is one of the few
publicly-traded producers of tungsten outside of China. Malaga is a low
cost producer due to its gravimetric ore concentration process and the
availability of hydroelectric power at its Pasto Bueno property. Malaga's
production capacity represents 15% of the tungsten available for sale
outside of China. The Company plans to increase production and continue to
explore the property to develop its reserves and resources.
Forward-looking statements
Certain statements in the foregoing may constitute forward-looking
statements which involve known and unknown risks, uncertainties and other
factors that may cause Malaga's actual results, performance or
achievements or industry results to be materially different from any
future result, performance or achievement expressed or implied by such
forward-looking statements. The information provided reflects management's
current expectations regarding future events and performance as of the
date of this news release.
A map is available at the following address: http://media3.marketwire.com/docs/mlga1018.pdf
