"We are very pleased with these results as they confirm our
expectations for the high grade tungsten content of the mantos in the
south of the Pasto Bueno mine. Furthermore we will continue to perform
enhanced quality controls both internally and with our suppliers of
laboratory assays", commented Pierre Monet, President of Malaga.
As indicated in the previous press release, the channel samples from
the outcrop were assayed for gold, given the interesting gold content in
the drill hole HDD-05-11-1. The best results were obtained in Manto Gossan
where a sample had 2.2 g/t Au and 5 of the 10 samples showed content above
0.13 g/t Au. In addition, one sample from Manto Maciste showed 0.8 g/t Au.
These results are in line with the results of HDD-05-11 and confirm the
presence of potential gold content. Moving forward, all samples will be
assayed for gold and other metals to determine their potential.
"In my opinion, the presence of gold and of copper in chalcopyrite,
together with tungsten, is very interesting as we continue exploring the
mantos to find more and possibly higher concentrations of gold and copper.
We are exploring for a skarn at depth, at the contact between
limestone-slate and intrusive and this could prove more and more
interesting, given the presence of these three important metals: tungsten,
gold and copper", said Alonso Sanchez, Chief Geologist of Malaga.
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).
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 approximately 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
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/Malaga_ENG_1109.pdf