Result From Malaga Drilling Come Up Better Than Previously Announced
09 November 2011 - 11:00PM
Marketwired
Malaga Inc. ("MLG") (TSX:MLG)(OTCQX:MLGAF), one of the few tungsten
producers outside of China, today announced that subsequent to an
internal verification, the drill results for HDD 05-11 (see press
release of October 18, 2011) were analysed by another laboratory
(ALS Chemex), and re-analysed by the initial laboratory (ACME labs
in Vancouver) and they both concluded that the core actually
assayed for much higher tungsten grades than previously announced.
The corrected results are as follows:
----------------------------------------------------------------------------
Mineralization
----------------------------------------------------------
Drills Intersection Interval WO3 Au Cu Ag
Id From/To (m) Length (m) (%) (g/t) (%) (oz/t)
----------------------------------------------------------------------------
less than
HDD-05-11 43.2 - 45.4 2.2 0.08 0.03 0.01 0.02
----------------------------------------------------------------------------
less than
HDD-05-11 - 1 45.4 - 47.8 2.4 4.04 0.61 0.42 0.02
----------------------------------------------------------------------------
less than
HDD-05-11 - 2 47.8 - 48.9 1.1 0.04 0.01 0.02 0.02
----------------------------------------------------------------------------
"We are very pleased with these results as they confirm our
expectations for the high grade tungsten content of the mantos in
the south of the Pasto Bueno mine. Furthermore we will continue to
perform enhanced quality controls both internally and with our
suppliers of laboratory assays", commented Pierre Monet, President
of Malaga.
As indicated in the previous press release, the channel samples
from the outcrop were assayed for gold, given the interesting gold
content in the drill hole HDD-05-11-1. The best results were
obtained in Manto Gossan where a sample had 2.2 g/t Au and 5 of the
10 samples showed content above 0.13 g/t Au. In addition, one
sample from Manto Maciste showed 0.8 g/t Au. These results are in
line with the results of HDD-05-11 and confirm the presence of
potential gold content. Moving forward, all samples will be assayed
for gold and other metals to determine their potential.
"In my opinion, the presence of gold and of copper in
chalcopyrite, together with tungsten, is very interesting as we
continue exploring the mantos to find more and possibly higher
concentrations of gold and copper. We are exploring for a skarn at
depth, at the contact between limestone-slate and intrusive and
this could prove more and more interesting, given the presence of
these three important metals: tungsten, gold and copper", said
Alonso Sanchez, Chief Geologist of Malaga.
This Press Release has been read and approved by Alonso Sanchez,
P. Eng. and Chief Geologist for Malaga Inc. He acts as the
qualified person ("QP") for the Company and is a geologist
affiliated with the American Institute of Professional Geologists
(AIPG).
About Malaga
Malaga Inc. owns and operates a mine in Peru and is one of the
few publicly-traded producers of tungsten outside of China. Malaga
is a low cost producer due to its gravimetric ore concentration
process and the availability of hydroelectric power at its Pasto
Bueno property. Malaga's production capacity represents
approximately 15% of the tungsten available for sale outside of
China. The Company plans to increase production and continue to
explore the property to develop its reserves and resources.
Forward-looking statements
Certain statements in the foregoing may constitute
forward-looking statements which involve known and unknown risks,
uncertainties and other factors that may cause Malaga's actual
results, performance or achievements or industry results to be
materially different from any future result, performance or
achievement expressed or implied by such forward-looking
statements. The information provided reflects management's current
expectations regarding future events and performance as of the date
of this news release.
A map is available at the following address:
http://media3.marketwire.com/docs/Malaga_ENG_1109.pdf
Contacts: Jean Martineau Chairman of the Board and Chief
Executive Officer Malaga Inc. 514 288-3224 Pierre Monet President
Malaga Inc. 514 288-3224 Nicole Blanchard Corporate Strategy and
Investor Relations Sun International Communications 450
973-6600Nicole.blanchard@isuncomm.com
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