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La Mancha Resources

Publié le 30 juillet 2008

Preliminary Drill Results at La Mancha's Hassai Mine Suggest a Conceptual VMS Deposit of 20 Million

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Mots clés associés :   Canada | Copper | Precious Metals | Zinc |

Preliminary Drill Results at La Mancha's Hassai Mine Suggest a Conceptual VMS Deposit of 20 Million Tonnes

HIGHLIGHTS:

  • Drill results obtained from the first pit studied are in line with expectations
  • Conceptual grades of 1.3 - 1.5 g Au/t and 1.5% - 2.0% Cu
  • Exploration will continue on the other four most prospective VMS lenses identified on the property

BEST INTERSECTIONS INCLUDE:

  • 24.12m at 1.79 g/t Au and 1.48% Cu from 240.27m
  • 14.16m at 1.36 g/t Au and 2.45% Cu from 154.04m
  • 17.50m at 1.41 g/t Au and 2.67% Cu from 141.08m 

MONTREAL, QUEBEC -- July 30, 2008 - La Mancha Resources Inc. ((TSX: LMA), hereinafter "La Mancha" or "the Company") is pleased to report that preliminary drill results for the first of five locations where volcanogenic massive sulphides (VMS) have been identified at its Hassai property indicate a minimum conceptual deposit of 20 million tonnes of VMS at 1.3 - 1.5 g Au/t and 1.5% - 2.0% Cu.

Twelve holes totalling 2,407 meters have been drilled under the Hassai pit since the VMS program began in December 2007. More information on these holes is shown in Figures 1 and 2 and in Appendix A to this press release.

The conceptual estimate of potential tonnes and grade is based on a manual polygonal method using parallel cross-sections spaced at 100m. The Hassai conceptual estimate of potential tonnes and grade to date has insufficient exploration to define a mineral resource compliant with National Instrument 43-101. It is uncertain if further exploration will result in the target deposit being delineated as a mineral resource. The estimate used current geological interpretation of the lens with the intersections of copper and gold mineralization from the 12 new holes drilled to date and 7 previously-drilled holes. The estimate excludes copper and gold values outside the interpreted zones and all lead zinc and silver values, and does not take into account possible enrichment from the upper part of the lenses. The estimate also excludes dilution and recovery.

Michel Cuilhe, President and CEO of La Mancha, stated: "The initial results of this campaign suggest the presence of significant VMS potential at our Hassai mine, in addition to the gold resource that we have been mining since 1992. Drilling is ongoing, and more results are expected in the coming months."

La Mancha decided to initiate an exploration program entirely devoted to the VMS potential of its 40%-owned Hassai mine in December 2007 on the basis of historical results of drilling by BRGM in the 1980s and 1990s. The objective of the first phase of the program was to test the potential of one of the five most prospective VMS structures identified at the bottom of the previously-mined pits.

Results to date indicate that the VMS lens starting at the bottom of the Hassai pit has a strike length of at least 1 km and an apparent width of 9.5 to 30 m. Its average true width is estimated to be 16-17 m. Preliminary results also suggest that the structure of the lens runs at least 250-300 m below the floor of the pit and remains open at depth. The deepest hole drilled thus far, HASS_D191, returned the largest, richest intersections to date.

"The high degree of correlation between the 12 new holes and the BRGM holes is promising for the next phases of the program," Mr. Cuilhe noted. "We believe that the drilling to be done under the other four pits where a VMS lens has been identified could further define the magnitude of the property's VMS potential."

NEXT STEPS

The second phase of this VMS program focuses on the Hadal Awatib structure, where, once again, massive sulfides are visible at the bottom of the three pits along its 2-km strike length (see Figure 1 for more details). Nine holes totalling 3000 meters of diamond and RC drilling are planned. Management expects results to become available in early October. In addition, some short holes will be drilled from the floor of the Hassai and Hadal Awatib pits with the aim of identifying a possible enriched zone in the upper part of the massive sulphide lenses (cementation zone).

Preliminary assessment of the VMS structures identified at the bottom of the Adassedakh and Hadayamet pits and of the Onur target should take place over the last quarter of 2008 (see Figure 1 for more details).

TECHNICAL NOTE

The technical information in this news release was prepared under the supervision of Jean-Jacques Kachrillo, the Qualified Person under NI 43-101. Mr. Kachrillo is Vice President Exploration and a full time employee of La Mancha Resources. He has sufficient experience in the style of mineralization and type of deposit to qualify as a Qualified Person as defined in "National Instruments 43-101, Standards of Disclosure for Mineral Projects". Based on his information, Mr. Kachrillo has consented to the content of this press release in the form and context in which it appears. Mr. Kachrillo has read National Instrument 43-101 and has ensured that this press release has been written in compliance with that instrument.

The analysis of these recent samples did not meet with all of La Mancha established Analytical Quality Assurance Program put in place to control and assure the analytical quality of assays in its gold exploration. Namely, this program normally includes the systematic addition of blank samples, pulp duplicates and internal material references ("standards") to each batch of samples sent for analysis. Those steps were not taken in the present case. Blank samples are used to check for possible contamination in laboratory, duplicates allow the overall precision to be quantified while standards determine the analytical accuracy. All 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 qualified, using respectively for gold fire assays on 30g samples followed by AAS and for base metals triple acidic digestion followed by AAS. The average true widths are more than 75% o f the intersection length. In addition, the results from the seven previously-drilled holes have not been verified using La Mancha's Analtical Quality Assurance program.

ABOUT THE HASSAI MINE

The Hassai 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 million ounces of gold. La Mancha owns 40% of the mine through a subsidiary and is the mine manager. The Hassai mine exploration budget is expected to reach $9.0 million in 2008 ($3.6 million attributable to La Mancha), distributed among several gold targets (quartz, SBR and tailings) and VMS targets.

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.

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. The Hassai conceptual estimate of potential tonnes and grade to date has insufficient exploration to define a mineral resource compliant with National Instrument 43-101. It is uncertain if 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 2007 Annual Information Form filed with the Securities Commissions and the Toronto Stock Exchange.

Appendix and Figures are available on Marketwire's website at the following address: http://media3.marketwire.com/docs/lmaa0730_Fig.pdf   

CONTACT INFORMATION:

La Mancha
Martin Amyot
Vice President Corporate Development
514-987-5115
info@lamancha.ca

Renmark Financial Communications Inc.
John Boidman : jboidman@renmarkfinancial.com
Christopher Wells : cwells@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com 

Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | 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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