Manado Completes Diamond Drill Program

November 25 , 2013 - Vancouver, British Columbia, Manado Gold Corp. ("Manado") (TSX-V: MDO) is pleased to announce that it has completed a five-hole confirmation diamond drilling program on its recently optioned Takla-Rainbow Property. In total, Manado drilled 605.8 metres on four sections spaced at 50-metre intervals. The purpose of the drill program was to confirm gold-bearing mineralization within the West zone of the Takla-Rainbow Property.

The diamond drill core was logged and 310 core samples, including quality control samples, were collected. Strict quality assurance/quality control protocols including systematic insertion of certified standard reference and blank materials into each sample batch, plus field duplicate sampling were instituted during the program. Samples were transported in security-sealed bags to Acme Laboratories in Smithers where all of the samples were prepared for gold assaying and multi-element analyses. Assay and analytical results are expected within 3 weeks.

About the Takla-Rainbow Property

The Takla-Rainbow Property is located in northcentral British Columbia, approximately 152 kilometres north-northwest of Fort St. James or 156 kilometres northeast of Smithers. The property consists of six mineral tenures that collectively cover 4,545.34 hectares (11,231.38 acres) along the Twin Creek drainage. All of the claims are owned 100% by CJL Enterprises Ltd. of Smithers, B.C., subject to the terms of an option to purchase agreement with Manado.

The Takla-Rainbow Property was explored by several different operators between 1969 and 1992 with most work being carried out by Imperial Metals Corporation between 1985 and 1988 and Eastfield Resources Ltd. in 1990 and 1991. This exploration work included extensive soil and rock sampling programs and 87 diamond drill holes totaling 16,813 metres.

Historical exploration work discovered several structurally-controlled zones of gold-bearing sulphide mineralization, called the 'West', 'East' and 'South' zones, collectively representing a possible near-surface, bulk tonnage gold deposit. The gold-bearing mineralization is associated with extensive pyritization along the northwesterly trending and steeply dipping 'Twin Creek' shear zone. In addition to its bulk-tonnage gold potential, there is also a zone of low grade porphyry copper-type mineralization, called the 'Red' zone. A few historical drill holes have been completed within this target but its size and exploration potential remain largely untested.

The Takla-Rainbow Property is underlain by calc-alkaline volcanic and volcaniclastic rocks of the Lower Jurassic Twin Creek succession of the Takla Group. These rocks are intruded by Early Jurassic dioritic and Early Cretaceous granitic phases of the Hogem Batholith. A broad zone of propylitic alteration occurs within the dioritic phases and adjacent wall rocks. Gold mineralization on the property is spatially, and probably genetically, related to emplacement of northwesterly trending granitic dykes that appear related to a late phase of the Hogem Intrusive Suite.

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

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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Manado Gold (TSXV:MDO)
過去株価チャート
から 11 2024 まで 12 2024