VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 16, 2013) -Reservoir Minerals Inc. ("RMC" or the "Company") (TSX VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE) (is pleased to report results from its trenching program on the Bibemi Gold Exploration License in northern Cameroon. Nineteen trenches have been excavated to date, partially testing a twenty kilometer-long gold-in-soil geochemistry anomaly (see Company News Release, dated November 1, 2012 for details). The best results from channel sampling of weathered bedrock included 10 metres containing 2.26 grams per tonne ("g/t") gold from Trench T07.
Dr. Simon Ingram, President and CEO of Reservoir Minerals commented: "These results confirm the presence of gold in weathered bedrock over at least 6 kilometres of the 20 kilometre soil anomaly, with mineralization remaining open along strike to both the northeast and southwest. This is an exciting new discovery of Pan-African type of orogenic gold mineralization of the style that supports mining operations elsewhere in the continent."
Results of the Trenching Program
The gold-in-soil geochemical anomaly and initial trench results of 30 metres with an average grade of 0.73 g/t gold in the Bibemi License, northern Cameroon, (see Company News Release, dated November 1, 2012) has been tested by a further 19 trenches. The trenches were dug by hand, to weathered bedrock, a depth between 0.7 metres to 1.5 metres, perpendicular to strike and to the trend of the soil anomaly. Continuous channel samples, 2 metres long, were collected from the weathered bedrock along the base of the trenches.
The best results are summarised in Table 1. The location of the trenches is posted on the Company website (https://reservoirminerals.com/files/Bibemi_Trench_Log.pdf).
| Table 1: Summary of significant results from trenches in Bibemi License, Cameroon |
| Trench |
From
(m) |
To
(m) |
Length
(m) |
Average
gold
content
(g/t) |
Range
(minimum -
maximum)
gold (g/t) |
Lithology |
| T01 |
116 |
310 |
194 |
0.25 |
0.01 - 4.00 |
sericite schist |
| including |
216 |
230 |
14 |
1.00 |
0.28 - 3.19 |
| T02 |
144 |
166 |
22 |
1.50 |
0.04 - 6.05 |
metadiorite |
| including |
150 |
158 |
8 |
3.64 |
3.26 - 6.05 |
|
1242 |
1244 |
2 |
3.88 |
|
sericite schist |
|
1266 |
1270 |
4 |
0.48 |
0.27 - 0.69 |
| T03 |
352 |
356 |
4 |
1.02 |
0.10 - 1.93 |
sericite schist |
| T04 |
276 |
464 |
188 |
0.36 |
0.01 - 8.51 |
sericite schist |
| including |
276 |
294 |
18 |
1.47 |
0.04 - 8.51 |
| and |
392 |
394 |
2 |
4.04 |
|
| and |
422 |
426 |
4 |
4.70 |
1.38 - 8.04 |
| T07 |
378 |
400 |
22 |
1.13 |
0.03 - 2.79 |
metadiorite |
| including |
390 |
400 |
10 |
2.26 |
1.46 - 2.79 |
|
422 |
426 |
4 |
0.43 |
0.41 - 0.45 |
| T08 |
384 |
428 |
44 |
0.39 |
0.02 - 3.31 |
metadiorite and schist |
| including |
420 |
428 |
8 |
1.15 |
0.09 - 3.31 |
sericite schist |
|
486 |
606 |
160 |
0.39 |
0.02 - 4.50 |
metadiorite with quartz veins |
| including |
486 |
494 |
8 |
1.14 |
0.43 - 2.95 |
| and |
546 |
552 |
6 |
1.94 |
0.60 - 4.50 |
| T09 |
460 |
464 |
4 |
0.32 |
0.21 - 0.44 |
metadiorite |
| T10 |
102 |
104 |
2 |
2.31 |
|
metadiorite with quartz veins |
|
154 |
186 |
32 |
0.36 |
0.01 - 2.87 |
| including |
180 |
186 |
6 |
1.25 |
0.14 - 2.87 |
| T11 |
114 |
116 |
2 |
1.67 |
|
sericite schist with quartz veins |
|
906 |
908 |
2 |
1.34 |
|
schist |
|
1110 |
1112 |
2 |
2.81 |
|
schist with quartz vein |
| T12 |
626 |
628 |
2 |
1.08 |
|
schist |
| T13 |
356 |
386 |
30 |
2.17 |
0.24 - 18.00 |
sericite schist with quartz veins |
| including |
366 |
378 |
14 |
3.55 |
0.92 - 18.00 |
| T14 |
108 |
112 |
4 |
0.46 |
0.24 - 0.68 |
metadiorite contact to schist |
| T15 |
400 |
410 |
10 |
0.76 |
0.10 - 2.55 |
metadiorite |
| including |
400 |
402 |
2 |
2.55 |
|
| T16 |
110 |
116 |
6 |
0.50 |
0.22 - 0.67 |
schist - metadiorite contact |
The results from trenches T01 to T14 define a trend of at least two sub-parallel zones of gold mineralization that extend northeast to southwest striking for approximately 6 kilometres. Extensions to the southwest are indicated by the results from trenches T15 and T16 as well as soil geochemistry, and extensions to the northeast of trench T14 are suggested by soil geochemistry. Although the spacing between trenches T01 to T14 is approximately 500 metres, the structural mapping and the soil geochemistry suggest the continuity of the mineralized structures. The mineralization is usually associated with quartz veins and veinlets, and is hosted by metamorphosed diorite intrusives and sericitised chlorite schists. The results from the trenches demonstrate that the intervals with higher grade gold mineralization are often contained within a wider zone of enhanced gold content (for example, results from T01, T04 and T08 in Table 1). Even trench T05, which contains no reportable intercepts, yields continuous weak gold mineralization (0.02 to 0.55 g/t gold) from 136 to 274 metres (excluding a 10 metre gap of no outcrop from 200 - 210 metres).
Resampling of the mineralized zone intercepted in trench T01 yielded higher values (e.g. 14 metres at 2.06 g/t gold from 216 to 230 metres) as compared to the results reported in Table 1. However, mechanical chisel sampling into the mineralized zone intercepted in trench T13 yielded 4.7 metres at 1.83 g/t gold from 373.3 to 378.0 metres, which is lower than that reported for the base of trench samples in Table 1. These results confirm the presence of gold mineralization as identified in Table 1, but also reflect the inhomogeneous ("nugget affect") distribution of the gold within the mineralized zones.
The age and style of mineralization are considered to be similar to that which supports mining operations on structural controlled, orogenic gold vein systems in the late Proterozoic Pan-African terrains in north and northeast Africa (e.g. Sudan) and the Arabian Peninsula. Grade variability along the controlling structure can be expected in this type of mineralization.
The results of additional soil sampling (873 samples) are also presented on the Company website. They demonstrate continuity of the gold-in-soil geochemical anomaly along a strike length of approximately 30 kilometres.
Bibemi License
The Company has initiated the procedures to relinquish 50% of the initial 1,000 square kilometre permit area under the terms of the permit renewal procedure. The Bibemi License will then cover approximately 500 square kilometres in northern Cameroon. The License area is underlain by Neoproterozoic volcano-sedimentary formations that are defined in Chad as the Zalbi Group. Seasonal artisanal gold workings are active within the license area, and the Company's activities has encouraged local increase in this activity, which is currently being contained through collaboration with the local authorities and allowing small-scale, non-mechanised activity by local inhabitants.
Option and Joint Venture Agreement
Under the terms of an Option and Joint Venture Agreement between the Company and the Bureau d'Etudes et d'Investigations Géologico-Minières, Géotechniques et Géophysiques (BEIG3 SÀRL) ("BEIG3") a joint venture company has been formed which is 90% owned and managed by RMC. Transfer of the Bibemi and So'o properties to the joint venture company was signed into law by HE the Minister on August 2, 2012. Under the terms of the Joint Venture Agreement, RMC paid BEIG3 C$45,000 on the transfer of the licenses in August 2012, and a further C$20,000 on the anniversary of the transfers in August 2013. A final C$20,000 payment is due on or before August 2014.
Quality Control:
The Company follows industry standard quality assurance and quality control procedures for all samples. The QA/QC program includes the insertion of blanks, duplicates and certified standards into the sample batches.
Rock samples were prepared under the supervision of Company staff by crushing, riffle splitting and pulverization at the Company's sample preparation facility in Garoua to 100 grams of <125 micron grain size.
Soil samples were prepared by sieving and riffle splitting at the sample site, under the supervision of Company staff, to 100 grams of <125 micron grain size.
Prepared samples (approximately 100 grams) were shipped by courier to OMAC Minerals Laboratories (ISO 17025 accredited), Ireland, where they were all analysed for gold by fire assay with AAS finish, and selected samples for 33 trace and major elements by ICP-ME.
Qualified Person:
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and a consultant to the Company, approved the technical disclosure in this release and has verified the data disclosed.
About the Company:
Reservoir Minerals Inc. is an international mineral exploration and development company run by a experienced technical and management team, with a portfolio of precious and base metal exploration properties in Europe and Africa. The Company operates an exploration partnership business model to leverage its expertise through to discovery.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.