Manicouagan Minerals Inc. (TSX VENTURE: MAM) is pleased to provide
an update on its Pickle Lake Gold properties:
Pickle Lake Gold Properties - Ontario
In preparation for the fall 2009 drilling campaign, a field
program has recently been completed on the Dorothy-Dobie Lake and
Kasagiminnis properties. The purpose of the program was to locate
in the field and survey (by hand held GPS) the historic diamond
drill hole collars for the more significant gold zones on the two
properties.
The Dorothy-Dobie Lake property covers a 12 kilometre long, gold
bearing mineralized structure along the interpreted northwest
extension of the past producing Golden Patricia Mine. This
structure hosts a number of gold zones including the Dobie and
Tonsil Lake Zones that were drilled by Bond Gold (now Barrick Gold
Corporation) and the Main and West Zones drilled by UMEX and then
by Major General Resources in the mid to late 1980's. The
Kasagiminnis property hosts a gold zone that was explored by Power
Explorations Inc. and Moss Resources Ltd. in the mid to late
1980's. All the mineralized zones are largely untested below 150
metres.
Previous operators have reported mineral resources, which
predate NI 43-101 and are not NI 43-101 compliant, for the Dobie
Zone of 301,000 tonnes grading 5.5 grams per tonne gold and the
West Zone of 230,000 tonnes grading 6.2 grams per tonne gold.
Manicouagan has not undertaken any independent investigations of
the dimensions, quantity or grade of this gold mineralization and,
therefore this historical data should not be relied upon.
Manicouagan will drill test portions of the Dorothy-Dobie Lake
property early in the fourth quarter of 2009. The helicopter
supported drill program will cost approximately $800,000 and will
consist of a minimum of 8 to 10 diamond drill holes designed to
test selected targets along the Golden Patricia Mine trend.
This past June, Manicouagan completed a 1,900 line kilometre
helicopter-borne aeromagnetic survey over the Kasagiminnis and
Pickle Lake East properties. The survey was flown by Geo Data
Solutions Inc. Gold mineralization in the Pickle Lake area is often
spatially associated with magnetite bearing iron formations and
major regional structures and related subsidiary or splay
structures. The results have been received and together with the
other available data will assist in identification of these
important features and aid in the selection of targets for follow
up.
Update on Pickle Lake Regional Work - additional claims
staked
Manicouagan contracted SRK Consulting to carry out an integrated
structural and lithological interpretation of the Pickle Lake
Greenstone Belt as well as parts of the Bamaji-Fry Lake and Lang
Lake Greenstone Belts. Geofine Exploration Consultants Ltd. was
retained to provide geological input and recommendations on the
target areas identified by SRK Consulting.
The final reports from the regional effort have recently been
received and are being reviewed. Collectively, SRK and Geofine have
identified a number of target areas that they interpret to be
prospective for gold mineralization.
Based upon preliminary results received during this study
Manicouagan has acquired an additional 34 square kilometres of
ground in the Pickle Lake Greenstone Belt. Sixty three (63) claim
units were staked to cover the strike extensions of the known gold
bearing zones on the Dorothy-Dobie Lake property while an
additional one hundred and fifty two (152) units were staked east
of the Golden Patricia Mine to cover several historic gold
occurrences.
Other prospective targets are being considered for staking.
NI 43-101 Report commissioned
Manicouagan has retained G.A. Harron & Associates Inc. to
complete a NI 43-101 report in respect of the Dorothy-Dobie Lake,
Kasagiminnis and Pickle Lake East properties. It is expected that
the report will be completed shortly.
Manicouagan now holds directly or has under option approximately
112 square kilometres within the Pickle Lake Greenstone Belt. The
Pickle Lake Greenstone Belt, is part of the prolific Uchi
Geological Subprovince which hosts the Pickle Lake, Red Lake and
Rice Lake gold camps. Production from these camps has amounted to
over 25 million ounces of gold. The Pickle Lake Greenstone Belt
includes four past producing mines: Pickle Crow (1,450,000 ounces
grading 16.1 grams per tonne gold), Central Patricia (650,000
ounces grading 12.0 grams per tonne gold), Golden Patricia (450,000
ounces grading 19.9 grams per tonne gold) and Dona Lake (200,000
ounces grading 8.6 grams per tonne gold).
Manicouagan can earn up to a 70 percent interest in the
Dorothy-Dobie Lake, Kasagiminnis and Pickle Lake East properties
pursuant to an option agreement with Trillium North. (See MAM Press
Release dated April 16, 2009.)
A sketch showing the location of the properties is attached and
is also available at www.manicouaganminerals.com.
To view the sketch, please visit the following link:
http://media3.marketwire.com/docs/mam924.pdf
Manicouagan continues to consult with the Cat Lake,
Mishkeegogamang and Slate Falls First Nations with respect to its
activities in the Pickle Lake Area.
Exploration programs in the Pickle Lake Area are being carried
out under the direct supervision Bruce W. Mackie, P.Geo., a
consulting geologist for Manicouagan Minerals' projects in Ontario.
Bruce W. Mackie, P.Geo., has reviewed and verified the technical
content of this press release on behalf of Manicouagan Minerals and
is a "Qualified Person" as defined 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,
and the HPM/Forgues Nickel/Copper/Cobalt project in Quebec.
Additional information about Manicouagan Minerals and its
exploration projects 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.
The TSXV has not reviewed this news release and does not accept
responsibility for the adequacy or accuracy of this news release.
The TSXV has neither approved nor disapproved the contents of this
news release.
Contacts: Manicouagan Minerals Inc. Joseph Baylis President and
Chief Executive Officer (416) 542-3980
investorrelations@manicouaganminerals.com
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