Manicouagan provides exploration update

Tag : zinc rod
Manicouagan provides exploration update Tuesday , 15 Jul 2008
TORONTO, July 15, 2008 - Manicouagan Minerals Inc. (TSXV - MAM)provided an update today on its advanced Brabant Lake Zinc Depositin Saskatchewan and its Mid-North Quebec exploration properties.
Brabant Lake Zinc Deposit:
Work on a new resource estimate undertaken by MPH Consultants Ltd.of Toronto in conjunction with P&E Mining Consultants Inc. ofBrampton, Ontario is nearing completion and results are expectedshortly. The new resource estimate is expected to incorporate 129drill holes, totaling 30,579 metres, of which 15,605 metres(approximately 50%) were completed by Manicouagan since acquiringthe property in July 2006 and the remainder by previous operators.The new resource estimate will supersede the existing NI 43-101compliant resource, which was the subject of an NI 43-101 TechnicalReport, completed by MPH Consulting Ltd. with an effective date ofSeptember 15, 2006. This report is available with the Company'sfilings on SEDAR or at www.manicouaganminerals.com.
Mid-North Quebec
Mouchalagane Nickel/Copper/PGE Property
Further to Manicouagan's Press Release of June 19, 2008 an initialphase of follow-up drilling on the projected down dip extension ofthe Bob Showing on the Mouchalagane Nickel/Copper/PGE Property iscomplete. A total of 10 holes, in aggregate 1,770 metres, weredrilled to follow up on nickel-copper-PGE mineralization that wasintersected by shallow drilling in 2007 (up to 1.78% Ni, 0.49% Cu,2.11 g/t Pt and 6.47 g/t Pd over a 2.04 metre interval - DDH MCH-07-17). Significant rhodium and ruthenium values were alsoencountered during the 2007 drilling program. Sample 151082consisting of 0.26 metres of core (42.64 metres to 42.90 metresdown-hole) from DDH MCH 07-05 contains 1230 ppb (parts per billion)rhodium and 1380 ppb ruthenium (1000 ppb equals 1 gram per tonne)in addition to significant platinum and palladium values. (SeeManicouagan Press Releases of April 23, 2008, February 21, 2008 andJanuary 29, 2008).
A total of 369 core samples from this year's drilling on the BobShowing have been forwarded to TSL Laboratories in Saskatoon foranalysis. Assay results are pending.
Concurrent with the diamond drilling at Mouchalagane, nine priorityairborne electromagnetic targets have been identified and are inthe process of being prospected and sampled. Reconnaissance grids(62 line kilometres) are being established over priority targets inorder to facilitate ground geophysics prior to drill testing.
HPM/Forques Property
As previously announced, the drill has been moved to theHPM/Forgues Property (see Manicouagan Press Release dated June 19,2008) and drilling has begun. The HPM/Forgues Property is locatedsome 160 kilometres east-southeast of the Mouchalagane Property. Itis situated in NTS 22011 and lies just east of highway 389, whichruns between Baie-Comeau and Fermont, Quebec.
Diamond drilling at HPM is planned to follow-up on significantnickel-copper mineralization that was intersected during a programof limited drill testing by Rockwell Ventures in 2001-2002.Unverified public records indicate drill intercepts of semi massivesulphides assayed up to 2.74% Ni, 0.86% Cu and 0.20% Co over 5.95metres and broad intervals of disseminated sulphide mineralizationassayed up to 0.53% Ni, 0.27% Cu and 0.04% Co over 28.60 metres.
A total of two drill holes at HPM have been drilled and sampled todate. Assay results are pending.
Manicouagan expects to complete approximately 6,000 metres ofdrilling during this summers' field programs on its Mid-NorthQuebec exploration properties. Final results from the recentlycompleted 6,400 line kilometre AeroTEM II (airborne electromagneticand magnetic) survey (See Manicouagan Press Releases of May 14,2008 and April 23, 2008) remain pending although preliminaryresults including datasets for priority areas have been receivedand are being interpreted to indentify potential drill targetswithin the 247 square kilometre Mouchalagane Nickel/Copper/PGEProperty as well as at the 106 square kilometre HPM/Forgues Nickelproperty.
With reference to assay results referred to in this news releaseand available on the Company's website gold, platinum and palladiumconcentrations are determined by fire assay using a 30 gram splitmixed with fire assay fluxes and fused at 1100 degrees C for onehour. After cooling the lead button is separated from the slag andcupelled at 960 degrees C to recover the silver (dore bead) plusgold, platinum and palladium. The silver dore bead is digested inhot (95 degrees C) nitric and hydrochloric acid. After cooling for2 hours the sample solution is analyzed for gold, platinum andpalladium by ICP/OES. Nickel, copper and cobalt concentrations arefirst determined by AAS initially using a 1 gram sample digested inaqua regia. In those samples where any one of the nickel, copper orcobalt concentrations as determined exceed 5,000 parts per million(equivalent to 0.5%) samples are assayed for nickel, copper andcobalt by using a 0.5 gram sample using a four acid digestion withhydrofluoric, nitric, perchloric and hydrochloric acids. Analyticalservices are provided by TSL Laboratories of Saskatoon a fulldescription of the laboratory's analytical procedures may be viewedon their website at www.tsllabs.com .
Rhodium determinations of selected samples as noted within the textof this press release employed a nickel sulphide (NiS) fire assaypreparation whereby a NiS fire assay yields a nickel sulphidebutton which is dissolved in concentrated HCl and the resultingresidue which contains all the PGE and Au is collected on a filterpaper. Subsequently, the residue undergoes 2 irradiations and 3separate counts to measure all the PGE and Au by neutron activation(Ni-FINA). Analytical services are provided by ActivationLaboratories of Ancaster, Ontario a full description of thelaboratories analytical procedures may be viewed on their websiteat www.actlabsint.com.
Exploration programs on the Mouchalagane and HPM/Forgues propertiesare being carried out under the direct supervision ofFrançois Bissonnette, P.Geo., Senior Project Geologist forthe Company's Mid-North Quebec projects. Manicouagan's explorationprograms are being carried out under the supervision of Rod Thomas,Vice President - Exploration of the Company. Mr. Thomas, aprofessional geologist, has reviewed and verified the technicalcontent of this press release on behalf of Manicouagan Minerals andis a "Qualified Person" as defined in National Instrument 43-101.
Manicouagan Minerals Inc. (TSXV:MAM) is a Canadian basedexploration company with a diversified portfolio of Canadianexploration properties including the Brabant Lake Zinc/Copperdeposit in Saskatchewan and the Mouchalagane Nickel/Copper/PGEproject in Quebec.
Additional information about Manicouagan Minerals and itsexploration projects can be found at www.manicouaganminerals.com.
Manicouagan Minerals Press Release July 15, 2008 4
For further information contact:
Joseph Baylis, President and Chief Executive Officer
(416) 542-3980
investorrelations@manicouaganminerals.com
The TSXV has not reviewed this news release and does not acceptresponsibility for the adequacy or accuracy of this news release.The TSXV has neither approved nor disapproved the contents of thisnews release.
All statements other than statements of historical fact, includedin this release, including, without limitation, statementsregarding potential mineralization and reserves, explorationresults, and future plans and objectives of the Company, areforward-looking statements that involve various risks anduncertainties. There can be no assurance that such statements willprove to be accurate and actual results and future events coulddiffer materially from those anticipated in such statements.Important factors that could cause actual results to differmaterially from the Company's expectations are exploration risksdetailed herein and from time to time in the filings made by theCompany with securities regulators
http://www.manicouaganminerals.com