Manado Gold Corp. Intersects 24.52 Metres of 2 Grams of Gold and 2 Grams af Silver on Takla Property
13.01.2014 | The Newswire
Manado Intersects 24.52 Metres of 2 Grams of Gold and 2 Grams af Silver (Including 6 Metres of 4.225 Grams of Gold and 4.0 Silver) on Takla Property in B.C.Vancouver, January 13, 2014 - Manado Gold Corp. (“Manado”) (TSX-V: MDO) is pleased to announce that it has received the assay results for its five-hole confirmation diamond drilling program on the Takla-Rainbow Property. In November, a total of 605.8 metres of NQ-core size diamond drilling was completed on four 50-metre spaced sections to confirm the known gold-bearing mineralization within the West Zone on the Takla-Rainbow Property.
The six claims comprising the 4,545-hectare Takla-Rainbow Property are located in north-central British Columbia, approximately 152 kilometres north-northwest of Fort St. James. Manado has an option to acquire a 100% interest in the Takla Property by making aggregate cash payments of $150,000, issuing an aggregate of 600,000 common shares and incurring $250,000 exploration expenditures over four years. (See Manado’s November 25, 2013 news release on SEDAR for a brief description of the exploration history and geology of the Takla-Rainbow Property.)
The assay results for significant mineralized intercepts within the five diamond drill holes have been summarized in the following table.
Significant Weighted Average Diamond Drill Intercepts
* Note: Intercept intervals are drilled lengths, not true widths.
Drill holes TR13-87 and -88 were collared to test the central and southeastern extension of the West Zone respectively. Both drill holes intersected several mineralized zones with strong to intense quartz flooding and pyrite mineralization with associated trace to significant precious and base metal mineralization.
Of particular interest is the intersection of 24.52 metres of sulphide mineralization at the bottom of TR13-88 which returned a weighted average grade of 2.011 gpt gold and 2.0 gpt silver. This drill hole had to be terminated in the mineralized zone prior to its planned length due to weather and logistical considerations. This drill hole intersected quite shallow mineralization between the known West and East Zones, an area of little historic drilling. Future drilling will be required to test the lateral and vertical continuity of the mineralization.
Drill holes TR13-84 (-90o) and TR13-85 (-45o) were drilled from the same site to confirm significant gold mineralization intersected by two historic drill holes (DDH-013 and -039) along the same vertical cross-section. Low grade gold- and silver-bearing sulphide mineralization was intersected by these holes but not of the same tenor as the historic drill holes. It is suspected that local faulting between the historic and recent drill holes has displaced the higher grade mineralization.
Drill hole TR13-86 was collared to test for the northwestern extension of the West Zone. This drill hole intersected several 8 to 10 metre intervals with interesting, low grade gold and silver-bearing sulphide mineralization. Further drilling with be required to better define this mineralization both along strike and to depth.
Summary of 2013 Diamond Drill Holes
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|Drill |UTM East |UTM North |Elevation|Azimuth |Inclination|Length|
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|Hole |Zone 10 |Zone 10 |(m) |(degrees)|(degrees) |(m) |
| |(m) |(m) | | | | |
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| | | | | | | |
|-------------------------------------------------------------------|
|TR13-84|354939.00|6170912.00|1608.00 |0.0 |-90.0 |76.07 |
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| | | | | | | |
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|TR13-85|354940.00|6170913.00|1609.00 |45.0 |-45.0 |99.67 |
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| | | | | | | |
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|TR13-86|354893.00|6170944.00|1617.00 |45.0 |-45.0 |139.29|
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| | | | | | | |
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|TR13-87|354927.00|6170830.00|1617.00 |45.0 |-45.0 |200.25|
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| | | | | | | |
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|TR13-88|355089.00|6170815.00|1608.00 |45.0 |-45.0 |90.52 |
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The 310 diamond drill core samples, including quality control samples, were all subject to strict quality assurance/quality control protocols including systematic insertion of certified standard reference and blank materials into each sample batch plus field duplicate sampling. Samples were securely transported to Acme Laboratories in Smithers, B.C. where all of the samples were prepared. Acme Laboratories, a member of the Bureau Veritas Group Company, is ISO 9001 and 17025 accredited. After the samples were prepared, the split sample pulps were direct shipped to Acme Laboratories in Vancouver for gold assaying (FA/AA) and multi-element ICP analyses.
Doug Blanchflower, P. Geo, is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects and is responsible for the work program on the Takla-Rainbow Property. Mr. Blanchflower has reviewed and approved the technical information in this news release.
On behalf of the Board of Directors
Logan Anderson
President and Chief Executive Officer
Manado Gold Corp.
info@manadogold.com
Investor Relations – Dave Ryan
dave@manadogold.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Manado cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Manado’s control. Such factors include, among other things: risks and uncertainties relating to Manado’s limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Manado’s properties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Manado undertakes no obligation to publicly update or revise forward-looking information.
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