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La Mancha Resources

Publié le 10 décembre 2008

Recent VMS Drilling Suggests the Presence of a Supergene Zone at Hassai

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La Mancha Resources Inc.: Recent VMS Drilling Suggests the Presence of a Supergene Zone at Hassai

MONTREAL, QUEBEC -- Dec. 10, 2008 - La Mancha Resources Inc. (TSX: LMA)

HIGHLIGHTS:

  • Follow-up drilling at Hassai returns high-grade gold and copper intersections immediately below the current pit;
  • Preliminary results suggest the presence of an enriched supergene zone above the previously-identified VMS lens;

BEST INTERSECTIONS INCLUDE:

  • 33 m at 5.76 g/t Au and 7.16% Cu from 17 m1
  • 12 m at 29.6 g/t Au from 6 m1
  • 29 m at 4.8 g/t Au and 3.43% Cu from 21 m1

La Mancha Resources Inc. (TSX: LMA),(hereinafter "La Mancha" or "the Company") is pleased to report that each of the 14 short holes drilled from the bottom of the Hassai pit returned high-grade gold and copper values (See Table 1 and Figure1). These preliminary results suggest the presence of an enriched supergene zone at the top of the previously identified volcanogenic massive sulphide (VMS) lens. Some drill holes also intersected high silver values. A selection of samples is currently being analyzed for metallurgical recovery. Results are expected in early 2009.

On July 30, 2008, La Mancha reported that preliminary drill results for the first of five locations where VMS have been identified on its Hassai property indicated a minimum conceptual VMS deposit of 20 million tonnes at 1.3-1.5 g Au/t and 1.5-2.0% Cu. This 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.

"Generally (see Figure 2), the sulphide lenses have an overlying oxidized zone, which in the case of Hassai has been partly exploited for gold, and a supergene zone characterized by an enrichment in copper. The presence of such enriched supergene zones is often known to support the financial viability of VMS-type mining projects," stated Jean-Jacques Kachrillo, VP Exploration of La Mancha.

Fourteen holes totalling 605 meters have been drilled from the floor of the Hassai pit. More information on these holes is shown in Figures 1 and 2 attached to this press release.

Most of these holes were drilled along a 450 m strike length corresponding to the zone most easily accessible from the Hassai pit (see Figure 2). The holes were drilled down dip within the lens and remain approximately in the same layer. Each of the drill holes shows strong gold and copper values, as typically seen in enriched supergene zones associated with other documented VMS deposits.

At least, three main types of enrichment have been identified:

  • A gold-enriched, copper-depleted zone close to the floor of the pit;
  • A gold- and copper-enriched zone at depth (4 of the 14 holes in the last sample); and
  • Localized zones of silver and zinc enrichment in addition to good Copper and Gold values.

Secondary sulphides such as chalcocite have been identified; mineralogical studies are underway.

Michel Cuilhe, President and CEO of La Mancha, stated: "Of all the milestones achieved since the start of the VMS project in Hassai, these results represent the most important step towards the confirmation of an economic VMS resource at Hassai. These results are very encouraging, as the preliminary base case scenario retained internally to justify an eventual VMS operation in Hassai requires the discovery of an enriched supergene zone containing a minimum of 3.7 millions tonnes grading 4 g Au/t and 2.5% Cu. The fact that such a zone might have been identified at the first of our five targets increases our confidence in the viability of the project."

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 lenses 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 lens extends at least 250-300 m below the floor of the pit and remains open at depth. The presence of this strong supergene enrichment enhances the potential of this deposit, which is sharing an increasing number of similarities with the Bisha deposit in neighbouring Eritrea.

NEXT STEPS

As explained in the July press release, four other previously-mined pits located within the property limits show similarities to the Hassai pit. The 2-km long Hadal Awatib pit, which is also the largest, has been drilled both from surface and from the floor of the pit. Fifty-one reverse-circulation and diamond drill holes have been completed for a total of 6,450 meters.

Moreover, a drilling program aiming at defining the first inferred VMS resource at the Hassai pit is currently underway. This program consists of a total of 24 holes and 12,160 m of drilling. The program will also test the extension of the sulphide lens at depth (-600 m). The results of both programs will be released during the first quarter 2009.

As previously mentioned, preliminary metallurgical testing is underway to estimate a possible recovery for the sulphide ore. Results will be included in a geological report to be completed by the end of the first quarter 2009.

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 met 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. 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 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 the Intertek laboratory in Indonesia qualified ISO 17025 using respectively for gold fire assays on 30g sample followed by AAS and for base metals triple acidic digestion followed by AAS. The average true widths are more than 75% of the intersection length.

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, the presence of an enriched supergene zone with gold grade of at least 4g Au/t and 2.5% Cu, the impact of such enriched supergene zone on the financial viability of an eventual VMS operation, 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, e xpectations 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 a s 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.

THIS PRESS RELEASE CONTAINS TABLES AND MAPS.  CLICK HERE TO VIEW ORIGINAL PDF VERSION OF THIS DOCUMENT.

1 All depths are measured from the bottom of the existing pit.

CONTACT INFORMATION:

La Mancha Resources Inc.

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

Renmark Financial Communications Inc.
John Boidman : jboidman@renmarkfinancial.com
Maurice Dagenais : mdagenais@renmarkfinancial.com

Montreal:
Tel.: 514 939-3989
Fax: 514 939-3717
www.renmarkfinancial.com
Toronto:
Tel.: 416 644-2020
Fax: 416 644-2021

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

PRODUCTEUR
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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