Manicouagan Commences Phase II Drill Program at Kasagiminnis Lake
July 13 2011 - 1:00PM
Marketwired
Manicouagan Minerals Inc. (TSX VENTURE: MAM) announced that it has
commenced a follow up drill program on its Kasagiminnis Lake
Property, located approximately 25 kilometres southwest of the past
producing Dona Lake Mine, south of Pickle Lake, Ontario.
The Phase II, 1,000 metre, drilling program will focus on
testing the down-dip extension of the zone where Manicouagan's
initial drilling on the property returned encouraging results
earlier this year (see MAM Press Release dated June 1, 2011).
In the Phase I program nine holes (KAS-11-01 to 09) totalling
964 metres were drilled to test a 250 metre interval along the
1,100 metre long gold bearing zone outlined by previous operators
in the mid to late 1980's. All of the completed holes intersected
the gold bearing horizon. Assay results included 6.6 g/t gold over
7.9 metres in hole KAS-11-04 and 4.55 g/t gold over 5.0 metres in
hole KAS-11-01.
Brian Carter, Manicouagan's Interim CEO, said, "This follow up
program will test the down depth extension of that portion of the
Kasagiminnis Main gold zone where our Phase I drill program
returned extremely encouraging results. The Main gold zone is
underexplored and remains open below 150 metres."
The Kasagiminnis Lake Property hosts the Kasagiminnis Lake main
gold zone that is associated with what was described as a sulphide
bearing iron formation. Between 1985 and 1988, Moss Resources and
Power Exploration Inc. drilled 25 holes on the zone. The property
remained dormant until Manicouagan optioned the property from
Trillium North Minerals Ltd. in 2009 as part of a larger land
package which included the Dorothy-Dobie Lake and Pickle Lake East
Properties (see MAM Press Release dated April 16, 2009).
Manicouagan holds directly, or under option, approximately 132
square kilometres within the Pickle Lake Greenstone Belt consisting
of 11 strategically located properties. The Pickle Lake Greenstone
Belt is part of the prolific Uchi Geological Sub-province, which
hosts the Pickle Lake, Red Lake and Rice Lake gold camps.
Manicouagan has earned a 51 percent interest in the Kasagiminnis
Lake, Dorothy-Dobie Lake and Pickle Lake East properties. Pursuant
to an option agreement with Trillium North Minerals, Manicouagan is
currently increasing its interest to 70 percent in these three gold
properties (see MAM Press Release dated April 15, 2010).
Qualified Person
Exploration programs on Manicouagan's Pickle Lake Gold Projects
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.
Forward Looking Statements
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 the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Manicouagan Minerals Inc. W Brian Carter Interim Chief
Executive Officer 416-542-3980 briancarter@manicouaganminerals.com
Manicouagan Minerals Inc. Erik H. Martin Chief Financial Officer
416-542-3980 ehmartin@manicouaganminerals.com Manicouagan Minerals
Inc. investorrelations@manicouaganminerals.com
www.manicouaganminerals.com