Highlights
- Drill results confirm the presence of a significant VMS lens below the Oderuk pit, with similar geological characteristics to those of the Hassaï South VMS deposit
- Results suggest that the VMS structure is at least 400m long by 25m wide, and is open at depth and along strike
- The average mineralization intercepted exceeds 0.5 g/t of gold and 1.0% copper
- Oderuk is the fourth of 12 VMS targets on the Hassaï property, where a significant resource has already been outlined
WHITE FOIL BEST INTERSECTIONS INCLUDE
25.0m from 421m at 0.64g/t Au, 0.95% Cu and 1.51% Zn
19.8m from 418m at 0.12g/t Au, 1.59% Cu and 0.56% Zn
June 21, 2012 -
La Mancha Resources Inc. (TSX: LMA, FSE: LMA, hereinafter “La Mancha” or the “Company”) is pleased to report that drill results confirm the presence of a fourth volcanogenic massive sulphide (“VMS”) deposit at its Hassaï property in Sudan, below the Oderuk pit. All drill results are presented in Table 1 of the appendix.
Dominique Delorme, President and CEO of La Mancha commented: “The latest resource update released in February 2012 established Hassaï as one of the world's richest VMS deposits. With only three out of twelve pits drilled, there was still plenty of remaining potential for it to also be one of the largest. Today's results illustrate the potential to further grow this deposit!”
As shown in Figure 1, the Oderuk pit (“target 4”) is located near the first three targets, Hassaï South, Hadal Awatib East and Hadayamet, for which a resource of nearly 120 million tonnes has already been outlined. The Hassaï property contains 12 open pits; VMS structures can be seen on the floor of several of these pits following mining of the upper gold-rich cap rock.
A total of five holes have been drilled below the Oderuk pit, for a total of 2,259m. The results suggest the presence of a significant VMS lens with characteristics similar to those of the Hassaï South VMS deposit. Both VMS lenses are characterized by their monocline structures, which facilitates their geological interpretation.
As shown in Figure 2, the Oderuk VMS structure appears be to at least 400m long by 25m wide, and remains open at depth and along strike. Moreover, the average mineralization intercepted exceeds 0.5 g/t of gold, 1.0 % of copper and 1.3% of zinc.
TECHNICAL NOTE
This press release was reviewed and prepared under the supervision of Jean-Jacques Kachrillo, Vice President Exploration of La Mancha Resources. By reason of his education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, Mr. Kachrillo is a "qualified person" for the purposes of NI 43-101. Mr. Kachrillo has read National
Instrument 43-101 and has ensured that this press release has been written in compliance with that instrument. He has read and approved the content of this press release, and has consented to publish the press release in the form and context in which it appears.
The analysis of these recent samples meet with all aspects of the La Mancha-established Analytical Quality Assurance Program put in place to control and assure the analytical quality of assays in the Company's gold exploration. Specifically, 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 and duplicates allow the overall precision to be quantified, while standards determine analytical accuracy. The diamond drill 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 certified, using fire assays on 30 g samples followed by AAS for gold, and triple acidic digestion followed by AAS for base metals. The average true widths for these results are more than 70% of the intersection length. In terms of RC chip analysis for the precollars, 5 m composite samples are assayed using the same Intertek procedure.
ABOUT THE HASSAÏ MINE
The Hassaï 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 2.2 million ounces of gold. La Mancha owns 40% of the mine through a subsidiary and is the mine operator. The Hassaï exploration licenses effectively encompass the entire geological district that extends over 24,000 square kilometres.
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 (TSX) under the symbol “LMA”. For more information on the Company, visit its website at https://www.lamancha.ca
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements”, including, but not limited to, the statements regarding the Company's strategic plans, future production and profitability, production targets and timetables; statements regarding the Frog's Leg mine's ore mill schedule and grades; statements regarding White Foil's production and the possibility to treat its ore; statements regarding the improvements made at the Ity mine and their resulting impact on production; statements regarding the drilling program at the Ity mine and resulting positive impact on the mining plan; statements regarding the Company's auction process. 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. 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, exploration risks, risks associated with foreign operations, environmental risks and hazards, uncertainty as to calculation of mineral reserves, requirement of additional financing or additional permits, authorizations or licenses, risks of delays in construction and production and other risks referred to in La Mancha's 2011 Annual Information Form filed with the Securities Commissions, as well as the Toronto Stock Exchange.