VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/23/12)- Douglas Lake Minerals Inc. (the "Company" or "Douglas Lake") (OTC.BB: DLKM.OB - News) is pleased to announce the initial drill results and assay values for their Magambazi East and Kwandege projects on their 800 km2 Handeni property in the United Republic of Tanzania (Fig. 1).
The drilling program commenced on July 26, 2011 on the Kwandege project and on August 24, 2011 on the Magambazi project. Designed to evaluate two geophysically and geochemically delineated gold targets in high metamorphic grade Proterozoic host rocks, the first phase drilling project aimed to establish the shape and extent of the mineralization zones along both localities.
"With only approximately 35% of our gold assay results received we can already confirm that a significant amount of gold is present in both our target areas," said Dr. Reyno Scheepers, President and CEO of Douglas Lake Minerals. "It is however Kwandege that really excites me, as the geophysical anomaly is around 3 times the size of Magambazi hill, with initial assays already showing gold values of 4.40 g/t over 12 meters - and we've barely begun to evaluate this extensive target," he added.
Phase one of the drilling program on the Magambazi East target is complete. A total of 5347 meters of diamond core drilling, 347 meters more than the originally planned, has been drilled to enable interpretation of the results obtained on this target. Phase one of the Kwandege drilling is nearing completion with 4386 meters of the planned 5000 meters already drilled.
HIGHLIGHTS
-- The Magambazi East target yielded gold intercepts in 8 of the 9 holes for which assay values are available, drilled along a NW-SE trending mineralization zone along a distance of approximately 475 meters with several highly significant values.-- The best intercepts at Magambazi were 5 meters at 4.2 g/t as well as 10.8 g/t over 1 meter.-- At Kwandege greater than 0.5 g/t gold, with a minimum interval of 0.5 meters, was intercepted in all eleven holes on which assays are available, the most significant intercept being 4.40 g/t over 12 meters including 29.5 g/t over 1 meter as well as 1 g/t over 4.7 meters.-- The mineralization at Kwandege occurs over a distance of 1130 meters to date and is open ended for approximately 800 meters to the east and west.
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MAGAMBAZI
Twenty eight (28) diamond core holes (5347 meters) were drilled at Magambazi. This announcement reports on assay values on ten (10) of these holes (Fig. 2) representing 2600 meters (48.6%) of the meters drilled. A total of 9100 samples were submitted to various laboratories (SGS and ALS Chemex (Mwanza). Samples from the ten holes (3615 samples) represent 39.7% of the samples submitted. A summary of the assay highlights are presented in Table 1.
Elevated gold values were intersected in 8 out of the 10 holes drilled with values in MZD_01 of 4.2g/t over 5 meters, MZD_04 with 10.8g/t over 1 meter, MZD_06 with 2.62g/t over 1 meter and MZD_10 with 1.60 g/t over 1 meter representing the best intersections. The highest sample value encountered was 24.7 g/t over 0.5 meters in MZD_01.
As is evident from Fig. 2, the gold intersections follow a previously defined NW-SE geophysical anomaly along a trend that may potentially be a continuation of the trend defined by Canaco Resources Inc. on Magambazi Hill. MZD_06 and MZD_04 represent the holes at the north western and south eastern extremes of the Magambazi East trend along a strike distance of approximately 475 meters.
Drill hole MZD_05 was drilled on a geophysical target off the NW-SE main Magambazi East trend and did not intercept any significant gold mineralization (Fig. 2).
Elevated gold values are closely related to silicified garnet amphibolite zones, often as free gold within quartz veins within amphibolite. Anomalous gold is however also found outside amphibolite zones in veins and veinlets contained within felsic gneiss units. The sequence containing anomalous gold is structurally highly complex with duplication through folding evident in all the drill holes.
Hole ID From (m) To (m) Interval (m) Au (g/t)MZD01 0.00 2.00 2.00 0.58MZD01 29.00 30.00 1.00 0.68MZD01 34.00 39.00 5.00 4.20 Including 2.00 14.38 Including 0.50 24.70MZD02 240.00 241.00 1.00 0.26MZD02 241.00 242.00 1.00 0.28MZD03 11.00 12.00 1.00 0.24MZD04 105.00 106.00 1.00 10.80MZD06 6.00 7.00 1.00 2.62MZD07 39.00 40.00 1.00 0.50MZD09 14.00 15.00 1.00 0.70MZD09 62.00 63.00 1.00 0.65MZD09 264.00 265.00 1.00 0.43MZD10 206.00 207.00 1.00 1.60MZD10 210.00 211.00 1.00 1.30----------------------------------------------------------------------------
Table 1: Gold assay values for the first 10 holes drilled on Magambazi East. Intervals do not represent true thicknesses which vary from drill hole to drill hole due to intensive folding. True thicknesses are estimated at an average of 65% of intercepts and will need to be verified by further drilling. Assays results for some drill holes are incomplete (MZD_02).
KWANDEGE
Thirty two (32) drill holes (4386 meters) have been drilled to date on the Kwandege project (Fig. 3). The eleven (11) drill holes of which assay results are reported represents 37.2% (1630 meters) of the meters drilled. A total of 8509 samples have been submitted to ALS and SGS (Mwanza), of which 2638 samples (31.0%) have been assayed.
Elevated gold values, greater than 0.5 g/t over a minimum interval of 0.5 meters, were encountered in all eleven holes on the Kwandege prospect for which gold assay data is available to date. The best intersections were KW2_01 with 4.40 g/t over 12 meters, including 29.5 g/t over 1 meter, as well as 3.54 g/t over 1 meter, KW1_05 with 3.68 g/t over 1 meter and 1 g/t over 4.7 meters, including 3.2 g/t over 1 meter, KW2_02 with 2.10 g/t over 1 meter, KW2_04 with 3.19 g/t over 1 meter, and KW4_01 with 1.46 g/t over 1 meter.
An important feature of the Kwandege target is the fact that low level gold values (0.5 g/t to 1 g/t) were encountered in numerous intersections in the drill holes. As indicated in Fig. 3, anomalous gold with some potentially economic intersections have been encountered in an E-W (strike) direction of 1130 meters and in a N-S (dip) direction of approximately 350 meters wide. This represents significant gold mineralization which will most likely be revealed by the down dip holes being assayed currently for gold.
The Company is now planning continuation of the evaluation of the Magambazi and Kwandege projects by a program of RC (reverse circulation) drilling to commence on Magambazi within the next month, followed by Kwandege. This program aims to evaluate the intercepted mineralization zones and gain a better understanding of the gold distribution by using the higher sample volumes obtainable by RC drilling. The Company will continuously take cognizance of the high percentage of free gold available and the specific challenges it may pose during the RC program. The RC drilling will furthermore be utilized in evaluating the open-cast potential of Kwandege.
Continuing parallel with the RC program and the continuous evaluation of our other already identified targets; an in-depth investigation of the drilled core will allow us to gain an even greater understanding of the mineralization style and the implications of this for the Handeni gold district as a whole.
Hole ID From (m) To (m) Interval (m) Au (g/t)KW1_01 41.0 42.0 1.0 0.72KW1_01 68.0 69.0 1.0 1.50KW1_01 72.0 73.0 1.0 0.56KW1_01 81.0 83.0 2.0 0.75KW1_01 103.0 104.0 1.0 0.60KW1_03 62.0 63.0 1.0 0.75KW1_03 93.0 94.0 1.0 1.20KW1_04 91.0 92.0 1.0 0.49KW1_04 110.0 111.5 1.5 0.60KW1_05 12.7 13.7 1.0 1.40KW1_05 15.2 16.2 1.0 0.85KW1_05 21.0 22.0 1.0 0.65KW1_05 27.0 28.0 1.0 1.83KW1_05 28.0 29.0 1.0 3.68KW1_05 50.0 51.0 1.0 0.54KW1_05 52.3 57.0 4.7 1.00 Including 2.0 1.20 Including 1.0 3.20KW1_05 101.0 102.0 1.0 0.57KW1_06 5.0 6.0 1.0 0.74KW1_06 12.0 13.0 1.0 0.51KW1_06 16.0 17.0 1.0 0.56KW1_06 17.0 18.0 1.0 0.73KW1_06 18.0 19.0 1.0 0.51KW1_06 23.0 24.0 1.0 0.67KW2_01 1.5 3.1 1.6 0.94KW2_01 43.0 46.0 3.0 1.20 Including 0.5 2.10KW2_01 61.0 62.0 1.0 0.85KW2_01 68.0 70.0 2.0 0.60KW2_01 106.0 107.0 1.0 3.54KW2_01 113.5 116.0 2.5 0.70 Including 1.0 1.10KW2_01 117.0 118.5 1.5 0.60KW2_01 120.0 120.5 0.5 1.01KW2_01 125.0 137.0 12.0 4.40 Including 1.0 29.50KW2_02 21.0 22.5 1.5 0.63KW2_02 66.0 66.5 0.5 1.58KW2_02 103.5 104.0 0.5 0.76KW2_02 106.0 106.5 0.5 0.99KW2_02 106.5 109.9 3.4 1.24KW2_02 114.5 115.0 0.5 0.63KW2_02 135.0 136.0 1.0 2.10KW2_03 7.0 7.5 0.5 0.86KW2_03 18.0 18.5 0.5 0.87KW2_03 56.0 56.5 0.5 0.74KW2_03 58.0 58.5 0.5 0.59KW2_03 60.0 60.5 0.5 0.98KW2_03 60.5 61.0 0.5 0.59KW2_03 79.5 80.0 0.5 0.79KW2_03 113.5 114.0 0.5 1.17KW2_04 4.0 5.0 1.0 3.19KW2_04 7.0 8.0 1.0 0.56KW2_04 47.0 48.0 1.0 0.61KW2_05 64.0 66.0 2.0 0.89KW2_05 108.5 109.0 0.5 0.69KW4_01 38.0 39.0 1.0 1.46KW4_01 65.0 66.0 1.0 0.54----------------------------------------------------------------------------
Table 2: Gold assay values for the first 11 holes drilled on the Kwandege target. Intervals do not represent true thicknesses which vary from drill hole to drill hole due to intensive folding. True thicknesses are estimated at an average of 80% of intercepts and will need to be verified by further drilling. Assays results for some drill holes are incomplete (KW4_01).
The drilling, sampling and quality assurance/quality control programs are overseen by a team consisting of Reyno Scheepers Pr. Sci. Nat.;Ph.D.(CEO and a Qualified Person as designated by NI43-101), Bernard McDonald M.Sc. (Expl. Geol.; VP Exploration) and George Rwekiti (M.Sc.; Exploration Manager). SRK Consulting is externally monitoring the program.
Drill hole results are reported as received and in no preselected order. Intercepts are reported as drilling widths due to extreme folding of layers at both projects. More drilling will be needed to confirm true widths that are estimated to be approximately 65% at Magambazi and 80% at Kwandege. For the first two holes of the program at Magambazi and the first seven holes at Kwandege sampling was conducted along the entire drill core at 0.5 meters continuous intervals to determine the nature of mineralization. This was changed to 1 meter continuous intervals with subsequent drill holes and subsequently (following receipt of the first phase assay results) to perceived mineralized zones.
Splitting of samples (core saw) is conducted on site for each project and all samples submitted with QA and QC checks (approximately in the following variable sequence): Standard, 9 Samples, Blank, 1 Sample, Duplicate, 7 Samples, Standard. External laboratory checks are also conducted. Half core samples are retained on site. Samples were assayed at the SGS Laboratory in Mwanza, Tanzania by 50g gold fire assay. Samples are also submitted to ALS Chemex, Mwanza from where a less than 75microm plit of the pulverized material is sent to ALS Chemex in Johannesburg for analyses by fire assay and ICP-AES.