Miocene Metals Expands Mineralized System at Rogers Creek
09 Gennaio 2012 - 7:48AM
PR Newswire (Canada)
TORONTO, Jan. 12, 2012 /CNW/ - Miocene Metals Limited (the
"Company" or "Miocene Metals") today announced the final results
from its 2011 surface exploration and drilling programs on its
Rogers Creek property located 40 kilometers south of Pemberton, in
southwestern British Columbia. Highlights of the work completed in
the summer include: -- Confirmation of structurally controlled
high-level copper-gold mineralization, indicative of the edge of a
porphyry system, in two holes drilled on the northwestern edge of
Target 1. Best results were from WRC-007, which intersected 380 ppm
Cu over 150.9 metres from 345.60 to 496.50 metres, including 12.3
metres of 0.172% Cu. -- Identification of a 200 x 800 metre copper
and gold soil geochemical anomaly on the western flank of the 2 x 6
kilometre area of alteration and mineralization comprising Targets
1 and 2; -- Discovery of surface gold/copper mineralization within
the southern part of the soil anomaly with channel sample values of
9.12 metres of 1.958 g/t gold ("Au"), 0.573% copper ("Cu") and 13.7
g/t Ag ("Ag"),similar to the average of the 11 grab samples (2.679
g/t Au, 0.820% Cu and 19.23 g/t Ag) collected over the 80 x 100
metre discovery area; Commenting on the results Bruce Jago,
President and CEO of Miocene Metals stated, "We achieved quite a
lot in a very short field season, which really only got into full
swing in mid-August after successful completion of our IPO. We
extended the mineralized area associated with Targets 1 and 2, and
our drilling confirmed our mineralization model. This has
identified a number of high quality targets for our 2012 drill
program. This is excellent progress considering that the Rogers
Creek area was not even identified as having any mineralization a
few years ago." At Target I, drill holes MRC-006 and MRC-007 were
drilled to test IP anomalies in the area north of the
mineralization encountered in drill holes WRC-001 (scattered copper
mineralization over 178.45m, including 0.105% copper over 7.0 m )
and WRC-002 (0.2 g/t Au over 120 m including 1.05 g/t Au over
13.5 m and 0.51 g/t Au over 16.0 m) drilled by Wallbridge Mining
Company Limited in 2009 (See Wallbridge press release dated
December 9, 2009). The mineralization in these historic holes is
interpreted as being part of an outer pyritic shell that typical
occurs on the margins of a buried porphyry system. MRC-006 and
MRC-007 both intersected elevated copper and gold values within
sparsely disseminated pyrite-chalcopyrite mineralization and
porphyry-style alteration (propylitic and chloritic/argillic)
assemblages along substantial core lengths (up to 150
metres). As with holes WRC-001 and WRC-002, alteration
assemblages and the intensity of Cu-Au mineralization are
consistent with intersections in the outer pyritic halo of a buried
porphyry system. The most interesting mineralization was observed
in Hole MRC-007 (the last hole in the 2011 program), which
intersected 380 ppm Cu over 150.9 metres from 345.60 to 496.50
metres, including: -- 0.071% Cu over 3.0 metres from 200.4 to 203.7
metres -- 0.089% Cu over 8.0 metres from 222.0 to 230.0 metres --
0.05% Cu over 16.7 metres from 363.0 to 379.7 metres -- 0.172% Cu
over 12.3 metres from 422.2 to 434.2 metres -- 0.067% Cu over 6.0
metres from 447.0 to 453.0 metres Soil sampling early this summer
on the northwestern end of a gold/copper soil geochemical anomaly
on the western flank of Target 2 extended the size of the soil
anomaly, which is open to the north-east, to an area of over 200 x
800 metres. The soil anomaly is defined by gold-in-soil values of
between 25 and 542 ppb gold and copper-in-soil values between 100
and 1,115 ppm copper. Mapping, prospecting and surface sampling
within this soil geochemical anomaly located surface gold/copper
mineralization within an 80 x 100 metre area located in the
southern part of the anomaly. The mineralization consists of up to
several percent disseminated chalcopyrite and lesser pyrite with
rare chalcopyrite and pyrite veins up to 1 cm wide. Channel
sampling of the surface mineralization returned 9.12 metres of
1.958 g/t gold ("Au"), 0.573% copper ("Cu") and 13.7 g/t silver
("Ag") similar to the average of 11 grab samples (2.679 g/t Au,
0.820% Cu and 19.23 g/t Ag) collected over the 80 x 100 metre
discovery area in June 2011 (See Miocene press release dated July
8, 2011). Shallow drilling beneath the surface mineralization
intersected only weakly anomalous gold and copper values, but did
demonstrate that the altered and mineralized host rock of the
surface showing and related structures continued to the north
beneath the northern extent of the copper and gold soil geochemical
anomaly, which has not been drill tested at this time. Drill core
samples reported in this press release were logged, marked for
sampling and halved using a diamond saw cutting machine at
Miocene's Rogers Creek drill camp. Representative half cores were
collected and placed in individually labeled bags, the bagged
samples inserted in sample number sequence with certified reference
materials and delivered by Miocene personnel to SGS Minerals
analytical facility located in North Vancouver, British Columbia.
At SGS, samples were dried, crushed to 75% passing 2 mm, after
which a 250 gram split was taken and pulverized to 85% passing 75
microns. For each sample, a 20-gram pulp was then analyzed
for 49 elements using SGS's ICM40B method, which utilizes
Inductively-Coupled Plasma Mass Spectrometry (ICP-MS) and
Inductively-Coupled Plasma Optical Emission Spectrometry (ICP-OES)
and a near-total, four acid digestion. For Au, a 30 gram pulp split
was assayed by standard lead collection/fire assay fusion (FAA313).
The dore bead was acid-digested and analyzed for gold content using
Atomic Absorption Spectrometry (AAS). Over-limit values for Ag and
Cu were reconciled using SGS methods AAS42E and ICP90Q,
respectively. The Qualified Person responsible for the technical
content of this press release is Jose Sayo Garcia, P.Geo, Vice
President Exploration of Miocene Metals. About Miocene Metals
Limited Miocene Metals is focused on the exploration and
development of seven porphyry copper-gold-molybdenum properties in
south-western British Columbia that occur within the Tertiary-aged
Cascade Magmatic Arc. The Cascade Arc shares many geological
characteristics with Tertiary-age porphyry belts that stretch the
length of Chile and Peru in South America and hosts some of the
world's largest porphyry copper-gold-molybdenum deposits. The
Cascade Magmatic Arc hosts a number of significant porphyry Cu-Au
and Mo deposits in Washington State, and Alaska (Glacier Peak and
Margaret, and Quartz Hill respectively) but remains largely
unexplored in British Columbia. Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release. FORWARD-LOOKING STATEMENTS This news release contains
forward-looking information that involves substantial known and
unknown risks and uncertainties, most of which are beyond the
control of the Corporation, including, without limitation, those
listed under "Risk Factors" and " Forward-Looking Statements" in
the Corporation's Final Prospectus (collectively, "forward-looking
information"). Forward-looking information in this news release
includes, but is not limited to, information concerning the
Corporation's expectations and estimates regarding the
Corporation's drilling program. The Corporation cautions investors
about important factors that could cause actual results to differ
materially from those projected in any forward-looking statements
included in this news release. Any statements that express, or
involve discussions as to, expectations, beliefs, plans,
objectives, assumptions or future events or performance are not
historical facts and may be forward-looking and may involve
estimates, assumptions and uncertainties which could cause actual
results or outcomes to differ materially from those expressed in
such forward-looking statements. No assurance can be given that the
expectations set out in the Corporation's Final Prospectus or
herein will prove to be correct and accordingly, prospective
investors should not place undue reliance on these forward-looking
statements. These statements speak only as of the date of this
press release and the Corporation does not assume any obligation to
update or revise them to reflect new events or circumstances. The
Corporation disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be
required by applicable securities laws. Miocene Metals Limited
CONTACT: Please visit the Miocene Metal'swebsite at
www.miocenemetals.com,or contact:Miocene Metals LimitedBruce C.
Jago, Ph.D., P.Geo Miranda BerukoffPresident and CEO of Miocene
Vice-President Investor's RelationsMetals (604) 654-2581 or (604
654-2585 orbjago@miocenemetals.com mberukoff@miocenemetals.com
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