La Mancha Reports More High-Grade Intersections at its Ity Mine Best Intersections Include: – 5.0 m at 18.55 g/t Au from 16.75 m – 4.0 m at 26.28 g/t Au from 36.10 m – 5.0 m at 30.00 g/t
2008-04-08 06:35:00
La Mancha Reports More High-Grade Intersections at its Ity Mine
Best Intersections Include:
– 5.0 m at 18.55 g/t Au from 16.75 m
– 4.0 m at 26.28 g/t Au from 36.10 m
– 5.0 m at 30.00 g/t
MONTREAL, QUEBEC–( EMWNews – April 8, 2008) – All amounts are expressed in CA dollars, unless otherwise indicated.
La Mancha Resources Inc. (TSX:LMA)(“La Mancha” or the “Company”) is pleased to report more significant results from its Ity mine in Ivory Coast. Mere weeks after announcing the previous high grade intercepts in the extension of the Mount Ity Pit, many additional shallow, high-grade zones have been intersected, this time on the Walter anomaly, located only 2km away from the mine’s milling facilities. The recently initiated exploration campaign on the Walter anomaly is already proving to be successful, with 30 of the 31 diamond drill holes completed to date returning positive results. Moreover, these preliminary results indicate that the mineralized body remains open to the north, southeast and northwest.
During this first phase of the program, 31 holes were drilled on eight lines for a total of 1,831 m on the Walter anomaly. Details are shown in Figure 2 of the appendix. Several high-grade zones were intersected, the best results being 4 m at 26.28 g/t Au from 36.1m and 5.0 m at 30 g/t Au from 18.65m, as shown in Table 1 of the appendix. The cross-section in Figure 3 of the appendix shows that these values occur in mineralization similar to that of the current reserve envelope of the Mount Ity pit, which recently entered into production. The shallow depth of the high-grade intersections is significant, as it suggests that new resources could be added quickly and that such resources could quickly be transformed into reserves. The full drill results are provided in Table 1 of the Appendix.
Michel Cuilhe, Chairman and CEO of La Mancha, noted: “In light of the Walter anomaly’s proximity to our milling facility, the shallow high-grades drill intercepts and the fact that this “clay” ore is easily minable, we are confident that the recent drilling will not only increase the Ity mine resource base but will quickly allow for it to be qualified as reserves.”
The Walter anomaly is located 1km from the Flotouo-Zia pit and 1,5km from the processing plant. It covers an area of at least eight hectares, as shown in Figure 1 of the appendix. Previous exploration activities conducted on the Ity property by the former owner date back to 2002. Shortly after acquiring the property, La Mancha reinstated exploration as a priority for mine development, which led to a new drilling program in November 2007. The objectives of this program are to evaluate the northeastern extension of the Mount Ity deposit and test the Walter anomaly, Zia extension and some others mineralized areas on both sides of the Cavally river. For 2008, a total budget of $2.1 million ($1.0 million attributable to La Mancha) was approved earlier this year for exploration of the Ity mine property.
NEXT STEPS
Additional drilling is planned on the recently-tested Mount Ity extension and the Walter anomaly. Moreover, the Company will test the Zia extension and areas on both sides of the Cavally river, near the current mine operation. A resource update will be carried out during the third quarter of 2008, when drilling is temporarily halted due to the rainy season.
Mr. Cuilhe added: “The regularity with which our exploration efforts have returned material results since the exploration resumed at the mine in November 2007 illustrates the high prospective potential of our property. We are confident that the second half of this year’s program will continue to generate strong results.”
TECHNICAL NOTE
The technical information contained in this news release was prepared under the supervision of Jean-Jacques Kachrillo, the Qualified Person under NI 43-101. Mr. Kachrillo is Vice President Exploration and a full time employee of La Mancha Resources. He has sufficient experience in the style of mineralization and type of deposit to qualify as a Qualified Person as defined in the 2005 Edition of “National Instruments 43-101, Standards of Disclosure for Mineral Projects”. Based on his information, Mr. Kachrillo has consented to the content of this press release in the form and context in which it appears. Mr. Kachrillo has read the National Instrument 43-101 of the Canadian Securities Administrators (“NI 43-101”) and assures that this press release has been written in compliance with the Instrument.
La Mancha has established an Analytical Quality Assurance Program to control and assure the analytical quality of assays in its gold exploration. This program includes the systematic addition of blank samples, pulp duplicates and internal material references (“standards”) to each batch of samples sent for analysis. Blank samples are used to check for possible contamination in laboratory, duplicates allow the overall precision to be quantified while standards determine the analytical accuracy. All samples are half HQ (saprolite), and NQ (fresh rock) diamond drill core sampled on a one metre basis. Samples were assayed at Ity mine laboratories on the site, using 50g LeachWell cyanide leach, and 20 to 25g well leached attacks, followed by solvent extraction and flame AAS. The average true widths are more than 75% of the intersection length.
ABOUT LA MANCHA RESOURCES Inc.:
La Mancha Resources Inc. is an international gold producer based in Canada with operations, development projects and exploration activities in Africa, Australia and Argentina.
Via Cominor, its wholly-owned subsidiary, La Mancha Resources operates and owns 45.9% of the Ity mine through its interests in the Societe des Mines d’Ity, whose other shareholders are Sodemi (44%) and the State of Cote d’Ivoire (10%). The Ity mine started production in 1991 and has produced 0.7 M oz to date from Flotouo-Zia pit. The ore is processed by heap leaching.
La Mancha’s shares trade on the Toronto Stock Exchange (TSX) under the symbol “LMA”. For more information on the Company, please visit its website at http://www.lamancha.ca/.
FORWARD LOOKING STATEMENT
This press release contains certain “forward-looking statements”, including but not limited to statements regarding the quantity of mineralization in place, the mineable character of the drill results, mining exploration risks, calculation and evolution of mineral resources, potential for additional resources, market price of gold, future work programs and objectives associated therewith, drill targets and anticipated results, interpretation of work results, development plans and anticipated timetables, in particular as regards the economic and technical potential for a mining and milling operation. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks referred to in La Mancha’s 2007 Annual Information Form filed with the Securities Commissions and the Toronto Stock Exchange.
Table 1 Drill results. Gold values are in cyanidable gold. Only samples above 1.0 g/t Au are listed.
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Tot. Av.
Line N. Inc depth Depth Width grade
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27 568 60E 56,45 13,1 15,65 2,82
inc 16,5 3 7,93
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604 60E 62,55 0 2,1 1,15
6,1 1 1,01
14,1 4 1,29
35,25 7,55 1,51
45,7 1 2,05
----------------------------------------------------------
28 571 60E 63,65 25,1 2,05 2,28
30,2 1 1,74
----------------------------------------------------------
599 60E 38,35 barren
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29 572 60E 56,95 1,25 1 1,4
22,9 2,55 1,23
33,15 2,85 1,11
43,5 2,15 1,85
48,75 8,2 1,33
----------------------------------------------------------
578 60E 49,1 0 3,65 1,68
7,3 8,5 1,62
22,1 18,15 1,49
----- -------------------------------------------
595 60E 60,05 46 1 2,48
50 1 4,1
----------------------------------------------------------
609 60E 72,35 0 3,5 1,53
13,5 2 1,35
20,5 2 1,26
25,5 1 1,3
45,8 1 1,87
51,1 1 1,52
----------------------------------------------------------
30 576 60E 63,85 5,25 2 1,37
12,25 11,25 2,46
28,5 4,65 1,38
36,2 3 13,5
----------------------------------------------------------
594 60E 70,15 0 2,2 2,22
3,3 9,35 3,13
18,65 5 30
27,7 5,15 2,05
----------------------------------------------------------
596 60E 55 0 1 2,25
22,35 2 1,62
47,65 1 1,6
51,65 3,35 3,11
----------------------------------------------------------
608 60E 57,65 0 4,1 1,8
7,1 2 1,57
13,1 1,25 1,65
20,05 1 1,33
24,05 5,75 3,74
35,8 2 1,76
----------------------------------------------------------
31 573 60E 88,65 14,7 19,3 4,09
inc 26,25 3,65 11,18
37,65 10,4 2,5
59,25 2 1,81
----------------------------------------------------------
579 60E 41,05 1,2 2,1 1,11
7,3 18 1,76
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597 60E 58,25 12,1 2 2,06
34,05 18,4 2,09
inc 45,45 2 6,35
----------------------------------------------------------
607 60E 84,6 0 2,75 1,31
10,75 15 10,37
inc 16,75 5 18,55
34,75 1 2,26
----------------------------------------------------------
610 60E 51,6 barren
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612 60E 64,9 0 1 1,18
17,7 1,25 1,08
38,05 1 1,08
47,8 1 1,14
----------------------------------------------------------
32 575 60E 63,15 8,35 3 1,78
25,65 27,45 5,51
inc 36,1 4 26,28
----------------------------------------------------------
577 60E 24,55 13,9 1,35 1,12
19,45 1 1,24
----------------------------------------------------------
577bis 60E 41,6 17,05 4,5 1,74
24,55 3,9 1,17
----------------------------------------------------------
598 60E 80,35 45,55 6 2,25
54,55 2 2,34
59,55 3 5,31
66,55 4 2,82
----------------------------------------------------------
606 60E 29,15 13,6 1 6,49
----------------------------------------------------------
611 60E 38,45 pending
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33 574 60E 66,95 27,65 5 2,56
36,65 2,35 1,91
50,65 1,4 2,27
57,7 2 1,5
----------------------------------------------------------
600 60E 66,5 20 3 1,51
28 1 1,05
37 1 1,11
43 2 2,28
50,45 3 1,69
----------------------------------------------------------
601 60E 58,65 5,2 11 4,77
inc 6,2 2 17,79
----------------------------------------------------------
34 592 60E 68,15 3,2 2 1,87
25,45 1 1,74
43,45 2,15 5,24
50,6 4 6,93
57,6 1 2,72
----------------------------------------------------------
593 60E 72,4 34,85 7 5,57
inc 37,85 2 15,71
67,85 3 1,79
----------------------------------------------------------
602 60E 65,4 11 10,85 1,2
24,85 1 1,27
32,85 3 1,42
----------------------------------------------------------
35 603 60E 61,05 24,2 2,45 1,38
36,55 1 1,24
49,85 1 1,43
----------------------------------------------------------
31 1831,5
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APPENDIX
Figure 1 is available at the following address:
http://media3.EMWNews.com/docs/LaMancheENG1.jpg
Figure 2 is available at the following address:
http://media3.EMWNews.com/docs/LaMancheENG2.jpg
Figure 3 is available at the following address:
http://media3.EMWNews.com/docs/LaManchaENG3.jpg
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For more information, please contact La Mancha Resources Inc. |
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