Manicouagan Minerals Initiates Airborne Geophysical Survey at the Expanded Brabant Lake Zinc Project, Saskatchewan
January 06 2011 - 7:30AM
Marketwired Canada
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:
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2008 MPH/P&E Resource Estimate (1), (2), (3), (4)
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Zn Cu Pb Ag Au
Tonnes (%) (%) (%) (g/t) (g/t)
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Indicated 1,475,000 9.18 0.79 0.23 32.6 0.15
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Inferred 2,975,000 5.55 0.55 0.13 13.9 0.10
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Ag
Zn lbs Cu lbs Pb lbs millions Au
millions millions millions ounces ounces
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Indicated 298.5 25.7 7.5 1.55 7,100
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Inferred 364.0 36.1 8.5 1.33 9,600
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(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.