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La Mancha Resources

Publié le 21 juin 2012

DISCOVERS A SIGNIFICANT VMS LENS BELOW THE ODERU

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LA MANCHA DISCOVERS A SIGNIFICANT VMS LENS BELOW THE ODERUK PIT, THE FOURTH OF 12 VMS TARGETS AT ITS HASSA� PROPERTY

Please find attached the most recent La Mancha Resources press release.

 

.................

 

Veuillez trouver ci-joint le plus r�cent communiqu� de presse de La Mancha Resources.

LA MANCHA DISCOVERS A SIGNIFICANT VMS LENS BELOW THE ODERUK PIT

LA MANCHA D�COUVRE UNE IMPORTANTE LENTILLE DE VMS SOUS LA FOSSE ODERUK

 

NEWS RELEASE

 

Paris, June 21, 2012

 

LA MANCHA DISCOVERS A SIGNIFICANT VMS LENS BELOW THE ODERUK PIT, THE FOURTH OF 12 VMS TARGETS AT ITS HASSA� PROPERTY

 

HIGHLIGHTS:

  • Drill results confirm the presence of a significant VMS lens below the Oderuk pit, with similar geological characteristics to those of the Hassa� South VMS deposit  

  • Results suggest that the VMS structure is at least 400m long by 25m wide, and is open at depth and along strike  

  • The average mineralization intercepted exceeds 0.5 g/t of gold and 1.0% copper   

  • Oderuk is the fourth of 12 VMS targets on the Hassa� property, where a significant resource has already been outlined   

 

BEST INTERSECTIONS INCLUDE:

  • 25.0m from 421m at 0.64g/t Au, 0..95% Cu and 1.51% Zn  

  • 19.8m from 418m at 0.12g/t Au, 1..59% Cu and 0.56% Zn  

 

Dominique Delorme, President and CEO of La Mancha commented: "The latest resource update released in February 2012 established Hassa� as one of the world's richest VMS deposits. With only three out of twelve pits drilled, there was still plenty of remaining potential for it to also be one of the largest. Today's results illustrate the potential to further grow this deposit!"

 

La Mancha Resources Inc. (TSX: LMA, hereinafter "La Mancha" or "the Company") is pleased to report that drill results confirm the presence of a fourth volcanogenic massive sulphide ("VMS") deposit at its Hassa� property in Sudan, below the Oderuk pit. All drill results are presented in Table 1 of the appendix.

 

As shown in Figure 1, the Oderuk pit ("target 4") is located near the first three targets, Hassa� South, Hadal Awatib East and Hadayamet, for which a resource of nearly 120 million tonnes has already been outlined. The Hassa� property contains 12 open pits; VMS structures can be seen on the floor of several of these pits following mining of the upper gold-rich cap rock.

 

A total of five holes have been drilled below the Oderuk pit, for a total of 2,259m. The results suggest the presence of a significant VMS lens with characteristics similar to those of the Hassa� South VMS deposit. Both VMS lenses are characterized by their monocline structures, which facilitates their geological interpretation.

 

As shown in Figure 2, the Oderuk VMS structure appears be to at least 400m long by 25m wide, and remains open at depth and along strike. Moreover, the average mineralization intercepted exceeds 0.5 g/t of gold, 1.0 % of copper and 1.3% of zinc.

 

TECHNICAL NOTE

This press release was reviewed and prepared under the supervision of Jean-Jacques Kachrillo, Vice President Exploration of La Mancha Resources. By reason of his education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, Mr. Kachrillo is a "qualified person" for the purposes of NI 43-101. Mr. Kachrillo has read National Instrument 43-101 and has ensured that this press release has been written in compliance with that instrument. He has read and approved the content of this press release, and has consented to publish the press release in the form and context in which it appears.

 

The analysis of these recent samples meet with all aspects of the La Mancha-established Analytical Quality Assurance Program put in place to control and assure the analytical quality of assays in the Company's gold exploration. Specifically, this program includes the systematic addition of blank samples, pulp duplicates and internal material references ("standards") to each batch of samples sent for analysis. Blank samples are used to check for possible contamination in the laboratory and duplicates allow the overall precision to be quantified, while standards determine analytical accuracy. The diamond drill samples are half HQ or NQ diamond drill core sampled on a one-metre basis. Samples were assayed at Intertek laboratory in Indonesia, which is ISO 17025 certified, using fire assays on 30 g samples followed by AAS for gold, and triple acidic digestion followed by AAS for base metals. The average true widths for these results are more than 70% of the intersection length. In terms of RC chip analysis for the precollars, 5 m composite samples are assayed using the same Intertek procedure.

 

ABOUT THE HASSA� MINE

The Hassa� mine is located in the Red Sea Hills desert of northeastern Sudan, some 450 km from Khartoum. Inaugurated in 1992, it is Sudan's first and only gold mine in production. Twelve pits have been mined over the years, generating a cumulative production of more than 2.2 million ounces of gold. La Mancha owns 40% of the mine through a subsidiary and is the mine operator. The Hassa� exploration licenses effectively encompass the entire geological district that extends over 24,000 square kilometres.

 

ABOUT LA MANCHA RESOURCES Inc.:

La Mancha Resources Inc. is an international gold producer based in Paris with operations, development projects and exploration activities in Africa, Australia and Argentina. La Mancha's shares trade on the Toronto Stock Exchange (TSX) under the symbol "LMA". For more information, visit the Company's website at www.lamancha.ca.

 

Caution Concerning Forward-Looking Statements

This press release contains certain "forward-looking statements", including but not limited to statements regarding the quantity of mineralization in place and its grade in Au and in Cu, the mineable character of the drill results, mining exploration risks, calculation and evolution of mineral resources, potential for additional resources, market price of gold, future work programs and objectives associated therewith, drill targets and anticipated results, interpretation of work results, development plans and anticipated timetables, in particular as regards the economic and technical potential for a mining and milling operation. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. It is uncertain whether further exploration will result in the target deposit being delineated as a mineral resource. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks referred to in La Mancha's 2011 Annual Information Form filed with the Securities Commissions and the Toronto Stock Exchange.  

 

For additional information, please contact:

La Mancha

Martin Amyot,

Nicole Blanchard

Vice President Corporate Development

Investor Relations

Tel: (514) 987-5115, Ext. 25

Tel: (514) 987-5115 Ext. 26

Email: info@lamancha.ca

Email: nblanchard@lamancha.ca

 

Table 1: Oderuk drill results

 

HOLE       NUMBER

FROM

TO

LENGTH

GRADES

m

m

m

Au g/t

Cu %

Zn %

ODE_D146

262.55

264.50

1.95

0.88

0.13

0.20

420.96

446.00

25.04

0.64

0.95

1.51

450.00

467.00

17.00

0.81

1.06

1.71

ODE_D147

297.20

297.85

0.65

1.16

1.81

1.66

324.12

325.13

1.01

0.96

1.25

0.31

392.10

393.16

1.06

0.99

1.66

4.62

405.87

407.00

1.13

0.73

0.89

0.09

410.70

411.97

1.27

0.97

0.69

0.07

418.00

437.75

19.75

0.12

1.59

0.56

ODE_D148

0.0

701.00

barren

ODE_D149

247.00

250.00

3.00

0.65

1.01

0.45

265.00

267.00

2.00

0.46

0.61

0.45

290.00

291.00

1.00

0.16

0.98

0.06

294.00

295.00

1.00

0.16

0.88

0.13

ODE_D150

171.00

171.75

0.75

1.06

0.51

1.52

176.30

193.60

17.30

0.48

0.82

1.55

218.20

225.00

6.80

0.15

1.27

1.36

True width is generally between 60 and 100% of the interval length.

 

Figure 1: Hassa� Property Map

(See picture in attachment)

 

Figure 2: Oderuk Cross-Section

(See picture in attachment)

 



LA MANCHA DISCOVERS A SIGNIFICANT VMS LENS BELOW THE ODERUK PIT
LA MANCHA D�COUVRE UNE IMPORTANTE LENTILLE DE VMS SOUS LA FOSSE ODERUK




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La Mancha Res. est une société de production minière d'or basée au Canada.

La Mancha Res. détient divers projets d'exploration en Australie et en Argentine.

Ses principaux projets en production sont WHITE FOIL, ITY, HASSAÏ et FROG'S LAKE en Australie, son principal projet en développement est FETEKRO en Australie et ses principaux projets en exploration sont LA ORTIGUITA, BONDOUKOU, HUALILAN et ARIAB en Argentine et HASSAI VMS et PARK DAM en Australie.

La Mancha Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 499,5 millions CA$ (500,2 millions US$, 391,6 millions €).

La valeur de son action a atteint son plus bas niveau récent le 31 octobre 2008 à 0,04 CA$, et son plus haut niveau récent le 09 mars 2012 à 4,03 CA$.

La Mancha Res. possède 142 716 000 actions en circulation.

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