Today's News ReleaseDOUGLAS LAKE MINERALS’ MKUVIA PROJECT AVERAGES ASSAY RESULTS OF 1.60 GRAMS OF GOLD PER CUBIC METER
DAR ES SALAAM, TANZANIA, February 10, 2009 – Harp Sangha, CEO/President of Douglas Lake Minerals Inc. (DLKM–OTCBB / Franfurt-D60.F www.douglaslakeminerals.com) announces the results from the analytical assessment of 129 bulk samples from the Company's wholly-owned Mkuvia Alluvial Gold Project – at 1.6 grams of gold per cubic meter.
“We are thrilled that our February results of 1.6 grams per cubic meter exceed our expectations, as the economic cut-off grade for Mkuvia is 0.20 grams,” stated Harp Sangha. “The sampling of the Mkuvia alluvials took place in December, 2008 and was conducted by our Douglas Lake Tanzanian field crews. It consisted of a total of 129 measured 0.1 cubic metre samples of gold-bearing sand, and/or conglomerates. These samples were processed in the field to produce heavy mineral concentrates. These heavy mineral concentrates were split with a fraction of the concentrate generated from each sample, and then shipped to Eco-tech Laboratories in British Columbia for analysis". Details of the assay data from the Mkuvia Project can be viewed on Douglas Lake’s website at www.douglaslakeminerals.com/mkuviaresults.html
These bulks sample results were derived as part of the same sampling program that confirmed that the Mkuvia project concentrates also contain significant amounts of platinum (see press release dated December 22, 2008). The analytical results from the assaying of the "splits" (fractions of the total concentrates recovered from individual samples) have been applied to total concentrate volumes to calculate gold grades per cubic metre. It should also be noted that the average gold grade in the conglomerates, which is the primary mining target, is 2.6 grams per cubic metre. The 2.6 grams is significantly higher than the average grade of the samples tested.
During the past six months, Douglas Lake’s ongoing exploration program has indicated a gold mineralization area of 6 km. by 29 km. by 10 meters in depth of approximately 1.74 billion cubic meters. Significant values of platinum, uranium and thorium have also been found, which should add to the economic value of the property. The mineralized area remains open for increases in gold mineralization in length, width and depth. Currently, there are an additional 225 samples in for assay testing and the Company will release results as they are completed and assessed by our senior geologists.
Since purchasing 100% of the Southeastern Tanzania Mkuvia Project in June 2008, Douglas Lake’s management has believed the four prospecting licences have the potential to become a world-class alluvial gold producing mine not unlike the Witwatersrand Gold Rush of 1886 that led to the establishment of Johannesburg, South Africa.
After a brief Christmas hiatus and as the January rainy season ends, exploration work has commenced again. The Company cautions investors that ongoing sampling is required to ascertain a true average grade and fully assess the property’s potential.
ABOUT OUR STRATEGIC PARTNER
Our strategic partner TIGMR, is a subsidiary of the China Geological Survey, a department of the Chinese Ministry of Land and Resources. The Institute assists the Chinese government with special geological projects conducted in China and throughout the world and has achieved numerous earth science accomplishments. Website https://old.cgs.gov.cn/Ev/about/cags/tianjin.htm
ABOUT DOUGLAS LAKE
DLKM is an emerging mineral exploration company focused on exploring and developing mining opportunities in Tanzania. The company has a large portfolio of gold, copper, nickel, uranium and diamond prospecting licenses. www.douglaslakeminerals.com
This release contains forward-looking statements, which involve risks and uncertainties. Complete forward-looking statement available at www.douglaslakeminerals.com/forwardlooking.html
For further investor information please contact:
Investor Relations
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Vancouver, BC, V6B 1S5
Tel: 604-734-7026
Toll free: 1-866-734-7026
Email: jd@douglaslakeminerals.com