Montreal-based La Mancha Resources (TSX: T.LMA, Stock Forum) saw its shares jump 13% to 87 cents Tuesday, after the company reported that 42 short and long holes drilled from the bottom of the Hadal Awatib pits at its Hassai property in Sudan have returned “high-grade gold, copper and silver values.”
Highlights include 26 m at 1.19 g/t Au, 5.71% Cu and 1.17% Zn from 104 m, as well as 11 m at 19.24 g/t Au and 51.64 g/t Ag from 5 m.
“These preliminary results A) suggest the presence of an enriched supergene zone at the top of the previously-identified volcanogenic massive sulphide (VMS) lens under these pits and B) confirm the presence at depth of a feeder zone adjacent to the massive sulphide lens,” says the company, a gold producer with operations, development projects and exploration activities in Africa, Australia and Argentina.
"We are delighted by these results, as some of the intersections obtained from this second enriched zone compare favourably with some of the world's richest polymetallic deposits. The fact that some of these high-grade results have been intersected near the bottom of the pit, in an area where they would be easily minable by open-pit mining methods, adds to their quality, as this suggests that the exploitation of the two supergene zones in the early stage of the project could guarantee an early payback on the investment," says Michel Cuilhe, the company’s president and CEO.
La Mancha says additional holes are currently in progress to allow the company to complete a first 43-101 resource calculation, expected to be released in the third quarter of 2009.
On the company’s Bullboard, Bobwins said: “More good drill results and the best news is that the ore is likely accessible thru open pit methods, allowing possible early access and cashflow from the new ore, which could help fund further exploration of the VMS deposit potential[sic].”
