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La Mancha Resources

Publié le 03 août 2010

First Stages of Frog's Leg Drilling Extension Program Return Very High Grade Intercepts

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Mots clés associés :   Canada | France | K Street | Precious Metals |

Press Release
Media Relations Web Development

 

La Mancha Resources Inc.

La Mancha Resources Inc.: First Stages of Frog's Leg Drilling Extension Program Return Very High Grade Intercepts

HIGHLIGHTS:

  • Drilling of the first two of five Frog's Leg potential extension zones now complete;
  • First two zones drilled return very high grade intersects;
  • A preliminary resource calculation is expected for September 2010;
  • Management reiterates program objective of boosting the Frog's Leg resource by a minimum of 150,000 ounces of gold.

BEST INTERSECTIONS INCLUDE:

  • 4.30m @ 73.70g/t Au
  • 5.86m @ 35.71g/t Au
  • 4.98m @ 34.67g/t Au
  • 6.78m @ 7.94g/t Au

Paris, France - August 3, 2010 - La Mancha Resources Inc. (TSX:LMA) (hereinafter "La Mancha" or "the Company") is pleased to report that some of the drill results from the ongoing resource expansion program at its 51%-owned Frog's Leg mine in Western Australia have returned material gold intercepts. La Mancha co-owns the mine with Avoca Resources Ltd. (ASX:AVO). The assay results received to date suggest that the Frog's Leg ore body is extending towards the south and 250 meters below the current resource boundary. All the results obtained to date are presented in Table 1 at the end of this press release.

Dominique Delorme, President and CEO of La Mancha, noted: "The information collected to date suggests that Frog's Leg main orebodies are extending at depth in a very similar pattern to what is being observed in the upper part of the mine. As the ground appears to remain very competent at this depth, we are confident that the program should allow for the extension of the Frog's Leg current resource envelope at depth and consequently its mine life."

Figure 1 at the end of this press release illustrates the scope of the resource extension drilling program initiated at Frog's Leg at the end of 2009. The program is aimed at testing the continuity of the Frog's Leg deposit at depth, with a total of 38,500 metres of drilling on a 40X40-metre grid to be carried out from five drilling stations located approximately 330 metres below surface.

As shown in Figure 2, most of the holes completed to date, representing a total of 14,817 metres, were drilled from stations #1 and #2. The results reported today represent approximately 65% of all the core collected to date and 27% of the planned resource expansion program.

There is good indication that the Rocket and Fog lodes continue at depth below the current Indicated boundary, and that development will extend out to a Northing very similar to areas already mined above these drill holes. Furthermore, the Fog lode, which is very constrained in shape, shows extensions both in a vertical and lateral position. The true widths and grades displayed in the resource drill holes show very good continuity to widths and grades seen in ore drive development in the same proximal area.

Previous resource modelling has helped identify possible plunges and follow-up areas that need to be better defined at Frog's Leg. The aim of the diamond drilling program is to test these areas and at the same time extend the current Indicated resource boundary. The current diamond drill program objective towards the south is targeting the already well-defined contact lode of the Rocket orebody. The mineralisation of this lode is sub-vertical in orientation and positioned at a sheared contact between catrock basalt and volcanoclastics. In close proximity to the Rocket lode is the Fog lode, a very constrained lode that sits within the hangingwall catrock basalt lithology. The good continuity of the mineralisation of the two lodes along strike and at depth revealed by the latest p hase of drilling is encouraging, and provides confidence that a new gold resource will be generated with additional drilling.

NEXT STEPS
Drilling activities moved from Station #2 to Station #3 in August 2010. Approximately 23,000 metres remain to be drilled from the last three stations. The drilling is expected to be completed in March 2011. In the meantime, a preliminary resource update for the mine is expected in September 2010 based on results from the first two drill stations. A further resource calculation incorporating the drill results from drill stations #3 and #4 should be finalized in time for La Mancha's year-end resource reporting in February 2011. By the time the program is finished, the drilled area is expected to cover a strike length of over 1,100 metres to a vertical depth of 170 metres.

TECHNICAL NOTE
The technical information in this news release was prepared under the supervision of Trevor Eddie, B.Sc. (Geol), MAusIMM, the Qualified Person under NI 43-101. Mr. Eddie is the Geology Manager and a full-time employee of La Mancha Resources Australia. He has sufficient experience in the style of mineralization and type of deposit to qualify as a Qualified Person as defined in National Instrument 43-101, "Standards of Disclosure for Mineral Projects". Based on his information, Mr. Eddie has consented to the content of this press release in the form and context in which it appears. Mr. Eddie has read National Instrument 43-101 and has ensured that this press release has been written in compliance with that instrument.

Analysis of these recent samples complied fully with the Analytical Quality Assurance Program put in place by La Mancha to control and assure the analytical quality of assays in its gold exploration. 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, duplicates allow the overall precision to be quantified and standards determine the analytical accuracy. All samples were generated by cutting the NQ2 diamond core in half, and sending one half to the lab for assaying. All samples generated are based on sampling according to geological boundaries. Samples are assayed at the SGS Laboratory in Kalgoorlie using a 50g Fire Assay analysis.

ABOUT LA MANCHA RESOURCES Inc.:

La Mancha Resources Inc. is an international gold producer based in Canada 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.

THIS PRESS RELEASE CONTAINS TABLES AND FIGURES, CLICK HERE TO VIEW ENTIRE DOCUMENT IN PDF FORMAT.

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, the extension of the existing ore body to the south and at depth, the materiality of these results and the competence of the ground giving access to them, calculation and evolution of mineral resources, the ability of the Company to qualify a 43-101 compliant resource on the property before year-end, future work programs and objectives associated therewith, drill targets and anticipated results, interpretation of work results, development plans and anticipated timetables. 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 uncertai nties, 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. 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 2009 Annual Information Form filed with the Securities Commissions and the Toronto Stock Exchange.

 

Contact

La Mancha Resources Inc.
Martin Amyot
Vice President Corporate Development
Tel.: (514) 987-5115 Ext. 25
info@lamancha.ca

 

or

 

Nicole Blanchard
Investor Relations
Tel.: (514) 987-5115 Ext. 26
nblanchard@lamancha.ca
www.lamancha.ca

 

Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Maurice Dagenais: mdagenais@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020 www.renmarkfinancial.com

 

 

Renmark Financial Communications Inc.

Montreal (Head Office): 1550 Metcalfe, Suite 502, Montr�al, Qu�bec, H3A 1X6
Tel.: (514) 939-3989 Fax: (514) 939-3717
Toronto: 121 King Street West, Suite 1140, Toronto, Ontario, M5H 3T9
Tel.: (416) 644-2020 Fax: (416) 644-2021

Website: www.renmarkfinancial.com - Email: info@renmarkfinancial.com

 

Disclaimer: You are receiving this invitation because you are subscribed to the Renmark database. This correspondence is not to be construed as an offer to buy or sell securities or options. Renmark does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. We support best practices in responsible e-mail marketing and respect your right to be removed from this campaign. Should you no longer wish to receive e-mails from us, please reply to this e-mail, indicating "Unsubscribe" in the subject line.
Données et statistiques pour les pays mentionnés : Canada | France | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | France | Tous

La Mancha Resources

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CODE : LMA.TO
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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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