Mano River Resources release drilling update at New Liberty

June 10, 2008

June 10th (Mineweb) – Mano River Resources Inc. (“Mano” or “the Company”) the TSX-V and AIM-listed exploration and development company focussed on gold, diamonds and iron ore in West Africa, announces:

·         Highly encouraging results from deep diamond drilling at its New Liberty Gold Project 

Assay results from the first eight holes received

All eight holes intersected ultramafic schist units, host to the gold mineralisation  

Two of the six holes drilled to the minus 200m level returned some of the best intersections ever achieved at New Liberty, i.e.:

K-115    23m grading 4.95 g/t gold (including 12m at 9.12g/t)

K-116    31m grading 3.59 g/t gold (including 17m at 7.03 g/t) 

·         Both deep holes drilled to the minus 500m level confirmed the presence of the gold zone, the better intersection being:

K-120    19m grading 1.18 g/t gold (including 3m at 6.21 g/t)  

The New Liberty Gold project lies within a 1,000km2 combined exploration and mining licence termed a Mineral Development Agreement (‘MDA’) in Grand Cape Mount County, western Liberia, 100km north west of Monrovia. It is held 100% by Mano, subject to a 10% free carried interest and a 3% production royalty, both held by the Government of Liberia.

2008 Drilling Programme 

Subsequent to the completion of the New Liberty Feasibility Study in early 2007, a review concluded that there was a need to define, from the outset, an operation with a longer life than that envisaged in the Study, which had considered only an open pit operation. The main objective of the current drilling programme is to enable mineral resources currently classed as ‘indicated’ in the Feasibility Study to be reclassified as ‘measured’ and, in addition, potentially to increase the overall resource base and thus the mine life. The 2007 NI 43-101 gold resource was estimated at 1.4 million ounces (13.533 million tonnes of measured and indicated resources grading 3.18 g/t gold).

In 1Q 2008, the Company commenced a mineral resource/reserve delineation drilling programme, focussing initially on the Larjor Zone, the first results of which are now to hand. In all, 4,485m of drilling have been completed to date under this programme. Assay results from holes drilled under the Kinjor and Marvoe zones, further to the east, are expected by month end. The programme comprises a series of close-spaced drill holes at a depth of around 200m below surface, together with two holes drilled to about 500m below surface under Larjor to test for very deep extensions to the mineralisation. Shear-controlled gold deposits of Archaean age, like New Liberty, are typically characterised by a considerable third dimension at depth, now being investigated at New Liberty for the first time.  

All eight holes under Larjor intersected the sheared ultramafic schists hosting the mineralisation at New Liberty, and all of them returned indications of the presence of the gold zone.  Two of the six ±200m holes returned extremely good results, namely, intersections of 23m grading 4.85g/t gold and 31m grading 3.59 g/t gold, respectively. The remaining four returned sub-economic but nevertheless highly anomalous gold zones, the best of which was in K-121 with 27m grading 0.67 g/t.

The two deep holes under Larjor both intersected the ultramafic rock units at the anticipated depth i.e. some 450 to 480m vertically below surface, and both were mineralised. K120 gave the better results with 19m at 1.2 g/t gold including a 3m section grading 6.2 g/t. A complete list of the assay results appears in Table 1 below. This is considered an extremely encouraging outcome for the potential to increase resources, given that of the 93 holes forming the basis for the 2007 Feasibility Study, none were drilled significantly deeper than 100m below surface.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: