Manicouagan Minerals Completes Airborne Geophysical Survey at Brabant Lake Zinc Project, Saskatchewan
March 07 2011 - 8:30AM
Marketwired
Manicouagan Minerals Inc. (TSX VENTURE: MAM) Manicouagan Minerals
announced today the completion of a VTEM PLUS (Versatile Time
Domain Electro Magnetic) survey over its 100% owned Brabant Lake
property located in north central Saskatchewan, 175 kilometres
north of the town of La Ronge.
The detailed 560 line kilometre airborne VTEM PLUS geophysical
survey completed by Geotech Ltd. of Aurora, Ontario covered the
entire land package of 28 square kilometres that includes the
Brabant Lake Zinc Deposit. In 2010, the property was expanded to
cover approximately 15 kilometres of the favourable horizon which
hosts the deposit.
Joseph Baylis, Manicouagan's President and CEO, said, "the
preliminary VTEM PLUS results have identified a number of
significant anomalies that deserve further investigation."
The identified anomalies display characteristics similar to the
response found over the Brabant Lake Zinc deposit which exhibits a
significant time constant over a 1200 metre strike length. Once
received, the final survey data will be interpreted by a third
party geophysical consultant.
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
lbs lbs lbs mill-
Zn Cu Pb Ag Au mill- mill- mill- ions Au
Tonnes (%) (%) (%) (g/t) (g/t) ions ions ions ounces ounces
----------------------------------------------------------------------------
Indi-
cated 1,475,000 9.18 0.79 0.23 32.6 0.15 298.5 25.7 7.5 1.55 7,100
----------------------------------------------------------------------------
Infer-
red 2,975,000 5.55 0.55 0.13 13.9 0.10 364.0 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, sociopolitical, 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.
A sketch showing the location of the Brabant Lake property can
be found at www.manicouaganminerals.com.
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 peut etre
trouvee 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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