Douglas Lake Minerals provides updates on recent trip to China and its Mkuvia gold property
2008-11-12 09:00 ET - News Release
VANCOUVER, Nov. 12 /CNW/ - The Company (OTCBB: DLKM.OB) (Frankfurt:D60), is pleased to provide updates on the ongoing development of the Mkuvia gold project as well as the Douglas Lake's/Tanzanian delegation's meetings in China recently.
Douglas Lake/Tanzanian Delegation
Douglas Lake's President and CEO Harp Sangha was joined by a number of senior Tanzanian officials for meetings in The Peoples Republic of China. The purpose of the trip was to follow up on recent visits to Tanzania by officials from TIGMR and discuss how TIGMR, Douglas Lake Minerals, and the Republic of Tanzania can further work together to develop the vast mineral potential in Tanzania.
The Delegation met with senior officials from TIGMR, The China Geological Survey, China Railway Resource Co. and several mining companies. Several major projects were tabled; Douglas Lake will provide detailed disclosure once any deals have been finalized.
Mkuvia Gold Project:
There are now approximately 50 skilled and unskilled personnel working on Douglas Lake's Mkuvia Gold Project including Tanzminex's crew. To date over 200 pits have been dug, each 10 meters in depth. The pitting program has now outlined the length and width of the gold mineralization envelope as being 6 km by 29 km by 10 meters in depth, all of which remains open. Although the channel sampling program done during the summer helped identify the size of mineralization envelope by the process of digging the pits, Tanzminex has informed management that the size of each channel sample were too small to give meaningful grade results. Tanzminex's field staff have therefore processed samples from 111 pits each sample being greater than or equal to 100 litres (100 litres=Approx. 150 to 180 kgs). Each sample was processed with the Knelson Concentrator, the concentrate has been sent to Tanzminex's lab in Arusha for testing.
Ten samples were tested on site (results below). Due to the fineness of the gold it is impossible to get an accurate grade as the gold content was tested only on what was visible to the naked eye. Although much of the gold content is being missed (the concentrate will have to be fire assayed) the results range from 0.18 g/t to 1.98 g/t with an average grade of 1.01 g/t, the economic cutoff grade being at 0.20 g/t.
<< ------------------------------------------------------------------------- UTM UTM Volume Weight Pit ID East North RL EOP (L) Au (g) ------------------------------------------------------------------------- MBPT0021 363000 8856800 581 4.0 390 0.035 ------------------------------------------------------------------------- MBPT0034 363500 8856550 574 2.0 90 0.048 ------------------------------------------------------------------------- MBPT0035 363500 8856500 574 3.0 120 0.119 ------------------------------------------------------------------------- MBPT0041 363500 8856200 580 5.0 160 0.09 ------------------------------------------------------------------------- MBPT0103 361492 8857352 602 3.5 120 0.045 ------------------------------------------------------------------------- MBPT0109 362493 8857045 580 5.0 120 0.073 ------------------------------------------------------------------------- MBPT0110 362487 8857095 579 2.8 140 0.047 ------------------------------------------------------------------------- MBPT0112 362520 8857202 582 5.0 110 0.046 ------------------------------------------------------------------------- MBPT0113 362488 88572258 584 3.0 110 0.103 ------------------------------------------------------------------------- MBPT0121 362503 8857358 586 4.0 130 0.029 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Grade Grade Pit ID Sample ID From To Width g/Lcm g/t ------------------------------------------------------------------------- MBPT0021 DK08024 3.00 5.00 2.00 0.09 0.18 ------------------------------------------------------------------------- MBPT0034 DK08048 1.00 2.00 1.00 0.53 1.06 ------------------------------------------------------------------------- MBPT0035 DK08050B 2.00 3.30 1.30 0.99 1.98 ------------------------------------------------------------------------- MBPT0041 DK08062 3.00 5.00 2.00 0.56 1.12 ------------------------------------------------------------------------- MBPT0103 DK08009 2.60 3.20 0.60 0.37 0.74 ------------------------------------------------------------------------- MBPT0109 DK08005 3.00 4.10 1.10 0.61 1.22 ------------------------------------------------------------------------- MBPT0110 DK08070 2.00 2.60 0.60 0.33 0.66 ------------------------------------------------------------------------- MBPT0112 DK08073 1.00 2.00 1.00 0.41 0.82 ------------------------------------------------------------------------- MBPT0113 DK08075 2.00 3.00 1.00 0.93 1.86 ------------------------------------------------------------------------- MBPT0121 DK08080 0.00 3.00 3.00 0.22 0.44 ------------------------------------------------------------------------- >>
The exploration program on the Mkuvia Gold Property remains on track to begin production in 2009.
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.
The Douglas Lake Minerals Inc. logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=4345. For more information, go to 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.