VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: MDR) announces that
its joint venture partner, Antares Minerals Inc. ("Antares") has
reported results from an additional twelve holes (5,500 metres) of
the thirty-five hole (16,238 metre) diamond drilling program
completed in late 2007 at the Rio Grande copper-gold project in
northwestern Argentina. Highlights from these holes include the
discovery of significant copper-gold mineralization in the
previously un-tested #7 zone along the western margin of the Rio
Grande system as well as further strong results from the North and
Sofia zones. Some of the more significant intercepts are as
follows:
- RGA-07-56 (#7 Zone): 135 m with 0.53% Cu, 0.65 g/t Au, and 8.9
g/t Ag
- Includes 48 m with 0.82% Cu, 1.28 g/t Au, and 8.7 g/t Ag
- Discovery of new Cu-Au zone along western margin of Rio Grande
system
- Mineralization commences from near surface
- RGA-07-45 (North Zone): 132 m with 0.38% Cu, 0.40 g/t Au, and
2.8 g/t Ag
- Includes 50 m with 0.49% Cu, 0.46 g/t Au, and 2.7 g/t Ag
- Collared 150 m east of similar mineralization in RGA-07-43
- RGA-07-50 (Sofia Zone): 111 m with 0.42% Cu, 0.41 g/t Au, and
8.5 g/t Ag
- Includes 25 m with 0.64% Cu, 0.79 g/t Au, and 16.2 g/t Ag
- Collared 150 m north of well mineralized RGA-07-34
John Black, President and CEO of Antares Minerals Inc. commented
as follows:
"The results from the 2007 drilling campaign at Rio Grande
continue to meet and exceed our expectations. We are particularly
encouraged by the consistent zone of higher gold grades encountered
in hole RGA-07-56 (48 m averaging 1.28 g/t Au and 0.82% Cu with a
maximum individual interval of 2.32 g/t Au). With the discovery of
encouraging copper-gold mineralization at the #7 zone, we have at
least four areas where we have encountered longer runs of higher
grade copper-gold mineralization. These four areas have the
potential to collectively host a significant volume of better grade
mineralization and are interconnected by zones with lower grades.
We are currently working with our partners, Mansfield Minerals, to
design an extensive infill drilling program with an objective to
complete an initial resource estimate at Rio Grande by the end of
2008. Drilling will recommence in February, 2008."
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Mansfield Minerals Inc.
Rio Grande Project, Northwestern Argentina
Drilling Results Reported January 18, 2008
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Drill Hole Copper Gold Silver
Number Zone Interval Length (%) (g/t) (g/t)
-----------------------------------------------------------------------
RGA-07-44 Discovery 469-504 m 35 m 0.37 0.25 3.0
South
-----------------------------------------------------------------------
128-260 m 132 m 0.38 0.40 2.8
RGA-07-45 North incl. 128-154 m 26 m 0.44 0.51 2.9
incl. 163-199 m 36 m 0.32 0.38 4.2
incl. 210-260 m 50 m 0.49 0.46 2.7
-----------------------------------------------------------------------
203-223 m 20 m 0.28 0.19 1.6
325-435 m 110 m 0.36 0.32 3.4
incl. 325-346 m 21 m 0.41 0.36 3.4
RGA-07-46 North incl. 352-406 m 54 m 0.42 0.38 3.6
incl. 417-435 m 18 m 0.32 0.29 3.7
462-484 m 22 m 0.26 0.13 3.8
-----------------------------------------------------------------------
RGA-07-47 North 57-117 m 60 m 0.36 0.37 3.2
-----------------------------------------------------------------------
41-96 m 55 m 0.33 0.26 2.6
RGA-07-49 Sofia North 119-135 m 16 m 0.25 0.09 0.9
-----------------------------------------------------------------------
12-225 m 213 m 0.37 0.37 6.1
incl. 12-42 m 30 m 0.32 0.32 2.3
incl. 50-104 m 54 m 0.39 0.40 4.6
RGA-07-50 Sofia North incl. 114-225 m 111 m 0.42 0.41 8.5
incl. 152-177 m 25 m 0.64 0.79 16.2
incl. 250-262 m 12 m 0.23 0.17 3.3
incl. 292-304 m 12 m 0.22 0.31 8.4
-----------------------------------------------------------------------
RGA-07-51 #7 No significant intervals to report.
-----------------------------------------------------------------------
225-243 m 18 m 0.23 0.27 2.6
RGA-07-52 Sofia North 292-312 m 20 m 0.23 0.23 4.2
-----------------------------------------------------------------------
RGA-07-53 #7 No significant intervals to report.
-----------------------------------------------------------------------
121-133 m 12 m 0.30 0.65 7.5
RGA-07-54 North 272-291 m 19 m 0.41 0.29 3.5
307-329 m 22 m 0.21 0.18 1.8
-----------------------------------------------------------------------
56-74 m 18 m 0.24 0.34 2.9
80-98 m 18 m 0.22 0.28 3.9
118-151 m 33 m 0.19 0.34 11.1
227-261 m 34 m 0.25 0.31 3.7
RGA-07-55 North 276-291 m 15 m 0.18 0.27 2.6
301-315 m 14 m 0.25 0.25 5.1
404-416 m 12 m 0.35 0.44 5.6
422-432 m 10 m 0.25 0.33 3.6
543-567 m 24 m 0.36 0.40 5.1
-----------------------------------------------------------------------
5-220 m 215 m 0.42 0.49 7.1
incl. 21-47 m 26 m 0.32 0.29 4.2
RGA-07-56 #7 incl. 53-79 m 26 m 0.25 0.26 3.9
incl. 85-220 m 135 m 0.53 0.65 8.9
and 101-149 m 48 m 0.82 1.28 8.7
-----------------------------------------------------------------------
- intervals have been rounded to the nearest metre.
Discussion of Results
The objectives of the recently completed 15,000+ metre program
were (1) to follow-up on encouraging results from previous drilling
campaigns in the Sofia and Discovery Zones, (2) to drill test the
remaining two-thirds of the system that has not been adequately
explored to date, and (3) to provide an initial drill test of the
satellite Northeast Target which bears geological and geochemical
similarities to the nearby Lindero gold deposit owned 100% by
Mansfield.
Copper-gold mineralization at Rio Grande is hosted by a complex
sequence of intermediate sub-volcanic intrusive rocks with variable
degrees of potassic, calcic, and propylitic alteration and local
late to post-mineral intermediate dikes. The mineralization
originally consisted primarily as chalcopyrite and magnetite as
disseminations and fracture fillings. The chalcopyrite has
subsequently been partially to completely oxidized to green and
black copper oxides to depths of 300-400 metres or more. Oxidation
is typically in situ with little to no remobilization of
copper.
The majority of the twelve holes presented in this release were
drilled in the previously poorly tested North and #7 targets along
the northern and western margins of the Rio Grande system.
Significant mineralized intervals from the drill holes are listed
in the table above. All of the holes were drilled at angles of
50-75 degrees from horizontal to better traverse potentially
sub-vertical zones of mineralization. Reported mineralized
intervals represent down-hole lengths and not true thicknesses as
there is currently insufficient geological data to calculate true
thicknesses.
Drill hole RGA-07-44 was drilled to complete the deeper hole of
a drill fence at the southern end of the Discovery zone.
Mineralization encountered deep in this hole is thinner and lower
grade than elsewhere in the Discovery zone indicating that the zone
is beginning to terminate to the southwest.
Drill holes RGA-07-45, 46, 47, and 55 were drilled in the North
zone on north-south drill sections located approximately 150 meters
apart. Holes RGA-07-45 and 46 both encountered long runs of
moderate grade copper-gold mineralization near previously reported
mineralization in RGA-07-43 and 48. The majority of these holes
were drilled to the south but RGA-07-46 was drilled to the north to
form a scissor pair with previously announced RGA-07-43. This pair
of holes indicates that the east-west striking zone of
mineralization most likely has a sub-vertical dip.
Drill holes RGA-07-49 and RGA-07-50 were drilled at the northern
end of the Sofia zone approximately 150 metres to the northeast of
well-mineralized hole RGA-07-34. The holes were drilled from the
same pad but at 90 degrees to each other to help identify potential
structural trends. Both holes encountered significant copper-gold
mineralization with hole RGA-07-50 hosting an interval of 111 m
with 0.42% Cu and 0.41 g/t Au which includes a sub-interval of 25 m
with 0.64% Cu and 0.79 g/t Au. Further drilling will be warranted
to see how this interval connects with mineralization encountered
in RGA-07-34 (189 m with 0.70% Cu and 0.67 g/t Au). RGA-07-49 also
hosts a 50 m interval containing 0.10% Mo with little Cu or Au.
This occurrence is not well understood but warrants further
investigation. Holes RGA-07-52 and 54 were drilled in the gap
between the Sofia and North zones and only encountered narrow zones
of low to moderate copper-gold mineralization.
Drill holes RGA-07-51, 53, and 56 were drilled in the #7 zone
and are spaced approximately 400 metres apart in this poorly
exposed and poorly explored portion of the Rio Grande system. This
area has thicker colluvial cover than most of the project area.
This means there is little outcrop and soil sampling is not very
effective. Holes RGA-07-51 and 53 encountered no significant
mineralized intervals and may have been drilled too far to the east
to intersect the favorable horizon. Hole RGA-07-56 was drilled
farther to the west and entered almost immediately into well
mineralized rock including an interval of 135 m with 0.53% Cu and
0.65 g/t Au with a sub-interval of 48 m with 0.82% Cu and 1.28 g/t
Au. This sub-interval has very consistent Au grades ranging from
1-2 g/t Au with a maximum individual assay value of 2.32 g/t Au.
Mineralization remains open to the north, south and most likely to
the west as well. As typical for most mineralized intervals
encountered to date at Rio Grande, the mineralization has been
partially to completely oxidized with little secondary transport of
secondary copper mineralization.
A map of the drill hole locations has been posted on the
Company's website and can be viewed at
www.mansfieldminerals.com/s/RioGrande.asp.
This news release has been reviewed by John Black, Antares'
President, who serves as the qualified person (QP) under the
definitions of National Instrument 43-101. Antares' security, chain
of custody and quality control is described on their website and
can be reviewed at:
www.antaresminerals.com/bestpractices_samplingmethodologies.asp.
About Mansfield Minerals Inc.
Mansfield is a mining exploration company which has focused its
activities in northwestern Argentina since August 1994. The
Company's current significant properties and projects consist of
mineral rights covering approximately 170 square miles in three
Argentine provinces and one Canadian province. The Company is
currently focused on two primary projects which include Lindero
(gold) and Rio Grande (copper-gold). Antares has earned a 50%
interest in the Rio Grande project from Mansfield and the two
parties are currently formalizing a definitive joint venture
agreement to fund ongoing exploration at Rio Grande on a 50/50
basis with Antares as operator.
On behalf of the Board of Directors,
Gordon P. Leask, P.Eng., President
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward looking statements, oral or written, made by
itself or on its behalf.
The TSX Venture does not accept responsibility for the adequacy
or accuracy of this release.
Contacts: Mansfield Minerals Inc. Nancy Goertzen (604) 681-4462
(604) 681-0180 (FAX) Email: info@mansfieldminerals.com Website:
www.mansfieldminerals.com
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