Manicouagan Minerals Initiates Airborne Geophysical Survey at the Expanded Brabant Lake Zinc Project, Saskatchewan
January 06 2011 - 7:30AM
Marketwired
Manicouagan Minerals Inc. (TSX VENTURE: MAM) announced today that
it has contracted with Geotech Ltd. of Aurora, Ontario to fly a 560
line kilometre helicopter borne VTEM PLUS survey over its 100%
owned Brabant Lake Properties located in north central
Saskatchewan, 175 kilometres north of the town of La Ronge. The
survey is expected to commence before the end of January.
The detailed airborne VTEM PLUS (Versatile Time Domain Electro
Magnetic) geophysical survey utilizing 100 metre line spacing will
cover the entire land package of 28 square kilometres that includes
the Brabant Lake Zinc deposit. In 2010 the land position was
expanded, by staking to cover approximately 15 km of the favourable
horizon which hosts the Brabant Lake Zinc deposit.
Based on a search of the assessment work files it is believed
that this will be the first airborne survey flown over the Brabant
Lake area since the late 1960's.
The purpose of this program is to identify electro magnetic
anomalies along the favourable horizon which could indicate the
presence of sulphide mineralization that would warrant follow-up
investigation.
Joseph Baylis, Manicouagan's President and CEO said, "We believe
that this comprehensive and systematic VTEM PLUS survey will be an
excellent tool to demonstrate the exploration potential of the
Brabant Lake Zinc deposit and the additional claims that we have
added."
The NI 43-101 resource estimate for the Brabant Lake Zinc
deposit with an effective date of July 27, 2008 is set out
below:
----------------------------------------------------------------------------
2008 MPH/P&E Resource Estimate (1), (2), (3), (4)
----------------------------------------------------------------------------
Zn Cu Pb Ag Au
Tonnes (%) (%) (%) (g/t) (g/t)
----------------------------------------------------------------------------
Indicated 1,475,000 9.18 0.79 0.23 32.6 0.15
----------------------------------------------------------------------------
Inferred 2,975,000 5.55 0.55 0.13 13.9 0.10
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Ag
Zn lbs Cu lbs Pb lbs millions Au
millions millions millions ounces ounces
----------------------------------------------------------------------------
Indicated 298.5 25.7 7.5 1.55 7,100
----------------------------------------------------------------------------
Inferred 364.0 36.1 8.5 1.33 9,600
----------------------------------------------------------------------------
(1) The resource for the Brabant Lake Zinc deposit was estimated on the
basis of June 30, 2008 approximate $US three year trailing average metal
prices of $1.27/lb zinc, $3.02/lb copper, $0.86/lb lead, $12.49/oz
silver and $663/oz gold, and a US dollar exchange rate of $0.912. A NSR
cut-off of CAD$75/tonne for underground mining and milling was utilized
to report the resource.
(2) Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimate of mineral resources may
be materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
(3) The quantity and grade of reported inferred resources in this estimation
are uncertain in nature and there has been insufficient exploration to
define these inferred resources as an indicated or measured mineral
resource and it is uncertain if further exploration will result in
upgrading them to an indicated or measured mineral resource category.
(4) Contained metals, expressed in pounds (lbs) and troy ounces (oz),
presented in the table above are the product of resource tonnes
multiplied by metal grades and are provided for information purposes
only and are not meant to imply recoverable product as mineral resources
which are not mineral reserves do not have demonstrated economic
viability.
The mineral resources were estimated using the Canadian
Institute of Mining, Metallurgy and Petroleum ("CIM"), CIM
Standards on Mineral Resources and Reserves, Definitions and
Guidelines prepared by the CIM Standing Committee on Reserve
Definitions and adopted by CIM Council on December 11, 2005.
Eugene Puritch, P.Eng. and Antoine Yassa, P.Geo of P&E, and
Gerald Harron, P.Eng. of MPH are the authors of the Resource
Estimate Technical Report on the Brabant Lake Zinc deposit which
pertains to the 2008 MPH/P&E Resource Estimate and which was
filed on September 12, 2008 with Manicouagan's filings on SEDAR.
They are independent Qualified Persons in accordance with NI 43-101
- Standards of Disclosure for Mineral Projects.
Qualified Person
Exploration programs on Manicouagan's Brabant Lake Project are
carried out under the supervision of Mr. Bruce W. Mackie, P. Geo.,
Mr. Mackie, a professional geologist, has reviewed and verified the
technical content of the information contained in this release and
qualifies under the definition of "Qualified Person" set out in
National Instrument 43-101
About Manicouagan
Manicouagan Minerals Inc. is a Canadian based exploration
company focused on advancing its gold projects in the Pickle Lake
Gold Belt, Ontario. Manicouagan also has a pipeline of commodity
projects including the Brabant Lake Zinc deposit in Saskatchewan,
together with the Mouchalagane Nickel/Copper/PGE project and the
HPM/Forgues Nickel/Copper/Cobalt project, both in Quebec.
Additional information about the company can be found at
www.manicouaganminerals.com.
Une traduction francaise de ce communique de presse est
disponible a www.manicouaganminerals.com.
All statements other than statements of historical fact,
included in this release, including, without limitation, statements
regarding potential mineralization and reserves, exploration
results, and future plans and objectives of the Company, are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are exploration risks
detailed herein and from time to time in the filings made by the
Company with securities regulators.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy, accuracy
or contents of this news release.
Contacts: Manicouagan Minerals Inc. Joseph Baylis President and
Chief Executive Officer (416) 542-3980 Manicouagan Minerals Inc.
Andreas Curkovic Investor Relations (416) 577-9927
investorrelations@manicouaganminerals.com
www.manicouaganminerals.com
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