GREAT NEWS NR is coming
Manicouagan finishes Cloridorme drilling, awaits assays
2012-12-11 12:19 MT - News Release
Mr. Brian Carter reports
MANICOUAGAN MINERALS REPORTS COMPLETION OF THE INITIAL DRILLING PROGRAM AT ITS CLORIDORME ALUMINOUS CLAY PROPERTY
Manicouagan Minerals Inc. has successfully completed the initial drilling program on its Cloridorme property located in the Gaspe Peninsula of Quebec.
Drilling program
The objective of the drilling program was to determine the thickness and potential strike length of the aluminous red argillite (mudstone) formation located by surface mapping and sampling in different sectors of the property (see MAM press release dated Aug. 2, 2012). A total of 533 metres in six holes of core drilling was completed in three sectors of the property (A, B and C). The red and green aluminous mudstones were confirmed in each sector. A surface plan map with drill hole locations along with cross-sections is available on the company's website.
In sector A, on the west end of the property, a steeply dipping band of red aluminous mudstone with an estimated true thickness of 78 metres was intersected with boreholes Cl-12-01 and Cl-12-02. Sector A is on strike with Orbite Aluminae's Marin deposit. Both holes are approximately 2.3 kilometres from Orbite's eastern claim boundary. Outcrops of red mudstones were also located and sampled 800 metres on strike west of holes Cl-12-01 and 02.
In sector B, approximately 6.6 kilometres east of sector A, a band of red mudstone with a minimum estimated thickness of 77 metres was intersected with boreholes Cl-12-05 and 06. Only the northern contact, the footwall, of the red mudstone unit was intersected.
In sector C, 2.5 kilometres east of sector B, a 75-metre-thick band of red mudstone was intersected with boreholes Cl-12-03 and 04.
All red mudstone units intersected in the drilling are open at depth, and along strike and thickness for sector B.
One hundred and forty-nine samples have been sent to ALS Minerals for assaying. Assay results for alumina and rare earth elements (REE) are expected in about two to three weeks.
Previous surface sampling of the red mudstones returned alumina values ranging from 20.0 per cent to 22.68 per cent aluminum oxide.
Manicouagan's chief executive officer, Brian Carter, commented: "We are pleased that the initial results of the drilling program confirm our expectation that the red mudstones could extend for several kilometres and be of significant thickness. The confirmation of the potential of the Cloridorme property adds a second focus to our corporate exploration program, which also includes four gold properties in the Pickle Lake gold belt of Ontario. Future plans for our Brabant Lake zinc property in Saskatchewan, on which we have a [National Instrument] 43-101 resource, are being reviewed. The board of directors is exploring all possible strategic opportunities to grow the company and develop the company's asset base."
Qualified person
Exploration programs on Manicouagan's Cloridorme property are carried out under the supervision of Claude Britt, PGeo. Mr. Britt has reviewed and verified the technical content of the information contained in this release, and qualifies under the definition of qualified person set out in National Instrument 43-10