Miocene Metals Finds Widespread Copper-Gold Mineralization at MacKenzie
13 Settembre 2012 - 1:30PM
PR Newswire (Canada)
TORONTO, Sept. 13, 2012 /CNW/ - Miocene Metals Limited (the
"Company" or "Miocene Metals") today announced that its summer
drilling and prospecting program had discovered widespread,
scattered copper ("Cu"), gold ("Au"), silver ("Ag") and molybdenum
("Mo") mineralization on its expanded MacKenzie property located
about 70 kilometres north of Pemberton, BC. Copper-Au-Ag-Mo
mineralization was also intersected in two holes completed on the
original MacKenzie showing. Bruce Jago, President and CEO of
Miocene Metals stated, "We are pleased with the results of our
MacKenzie exploration program and particularly excited about
widespread bornite mineralization that was discovered in quartz
veins and stringers along the edge of the Miocene-age Bridge River
pluton on the western edge of the property. This work demonstrates
the considerable exploration potential of this property, which has
seen little exploration in the past. We are continuing with our
efforts to secure joint venture funding for our Rogers Creek, Salal
and MacKenzie properties. The reconnaissance work was highly
successful, identifying three Cu-Au-Ag mineralized structural
trends, which from west to east were named the Bornite Trend,
Tillworth Trend and Breccia Trend. The locations of the three
mineralised structural trends, regional geology and samples
described in this press release are given on Figure 1, which can be
found on the Company's website at www.miocenemetals.com immediately
following a copy of this press. Bornite Trend Mineralization in the
westernmost Bornite Trend (See Figure 1), which has an open-ended
strike length of 7.5 kilometres, consists of scattered
quartz-bornite-malachite ± chalcopyrite ± tetrahedrite veins and
stringers up to 20 centimetres wide. These occur along the edge of
the Miocene-age Bridge River pluton and within the host Coast
Plutonic Complex and therefore are interpreted to be of Miocene
age. Fourteen of the 27 grab samples (Table 1) collected along the
Bornite Trend during the initial reconnaissance of this area this
summer have copper values in excess of 0.25% copper with values
ranging up to a maximum of 4.34% Cu with gold and silver values
ranging from 0.001 to 0.445 g/t Au, and from 3.34 to 4,170 g/t Ag,
respectively. Grab samples collected during reconnaissance
represent rocks in which mineralization is readily observable and
therefore are highly selective by nature and are unlikely to
represent average grades of the mineralization. Table 1: Selected*
Bornite Trend Rock Sample Geochemical Analyses Sample ID Location
Sample Type Cu (%) Au (ppm) Ag (ppm) M487873 Bornite Trend Grab
4.34 0.079 60.8 N688012 Bornite Trend Grab 2.85 0.445 31.5 N688013
Bornite Trend Grab 2.23 0.051 32.3 M487887 Bornite Trend Grab 1.92
0.132 315 M487879 Bornite Trend Grab 1.64 0.326 25.1 M487886**
Bornite Trend Grab 0.975 0.001 4,170 M487880 Bornite Trend Grab
0.854 0.241 7.52 M487882 Bornite Trend Grab 0.776 0.012 5.79
M487884 Bornite Trend Grab 0.743 0.067 8.51 M487885 Bornite Trend
Grab 0.546 0.025 5.84 M487883 Bornite Trend Grab 0.515 0.029 6.94
M487881 Bornite Trend Grab 0.422 0.218 4.51 M487878 Bornite Trend
Grab 0.347 0.138 3.34 M487888 Bornite Trend Grab 0.280 0.114 23.0 *
results for 14 of 27 samples collected along Bornite Trend with
0.25% Cu ** Contains tetrahedrite; has elevated As, Bi, Pb, Sb and
Zn contents Tillworth Trend The Tillworth trend (Figure 1),
with an open-ended strike length of 13 kilometres, hosts the main
MacKenzie showing as well as quartz-chalcopyrite ± bornite ±
molybdenite veins and stringers up to 30 cm wide along strike to
the northwest and southeast. At the main MacKenzie showing
Cu-Au-Ag-Mo mineralization occurs in high-grade, mineralized
structures ranging in thickness from 0.3 metres to 9 metres, and as
disseminated chalcopyrite, bornite and molybdenite mineralization
in potassically-altered Coast Range plutonic rocks (see Miocene
press releases dated August 12, 2010 and December 9, 2011). The
mineralized structure is spatially associated with younger,
fine-grained granodioritic and dioritic rocks of possible Miocene
age similar to the age of the Bridge River Pluton. Of the 38 grab
samples collected along the Tillworth Trend in 2012 (Table 2), the
26 samples with copper values ranging from 0.1% to a maximum of 17%
Cu have gold and silver values from 0.001 to 1.46 g/t Au and 0.120
to 78 g/t Ag, respectively. Table 2: Selected* Tillworth Trend Rock
Sample Geochemical Analyses TILLWORTH TREND SAMPLES* Sample ID
Location Sample Type Cu (%) Au (ppm) Ag (ppm) M487862 Tillworth
Grab 17.0 0.186 78.0 Trend M487891 Tillworth Grab 4.07 1.46 48.7
Trend M487861 Tillworth Grab 2.60 0.027 8.13 Trend M487856
Tillworth Grab 1.86 0.022 2.71 Trend M487867 Tillworth Grab 1.60
0.819 35.6 Trend M487893 Tillworth Grab 1.334 0.584 19.3 Trend
N688020 Tillworth Grab 0.978 0.229 9.03 Trend M487864 Tillworth
Grab 0.942 0.497 10.2 Trend M487858 Tillworth Grab 0.937 0.009 1.85
Trend M487894 Tillworth Grab 0.917 0.362 13.7 Trend M487895
Tillworth Grab 0.889 0.458 16.7 Trend M487890 Tillworth Grab 0.832
0.430 8.43 Trend N688021 Tillworth Grab 0.735 0.053 8.45 Trend
M487869 Tillworth Grab 0.628 0.064 4.01 Trend M487854 Tillworth
Grab 0.625 0.041 1.64 Trend M487872 Tillworth Grab 0.543 0.263 4.58
Trend M487859 Tillworth Grab 0.511 0.002 0.630 Trend M487892
Tillworth Grab 0.445 0.274 5.25 Trend M487853 Tillworth Grab 0.430
0.115 5.91 Trend N688022 Tillworth Grab 0.411 0.001 0.120 Trend
N688003 Tillworth Grab 0.310 0.011 0.760 Trend M487870 Tillworth
Grab 0.267 0.080 1.46 Trend M487871 Tillworth Grab 0.248 0.004
0.880 Trend M487857** Tillworth Grab 0.226 0.020 1.72 Trend M487863
Tillworth Grab 0.162 1.33 1.53 Trend N688001 Tillworth Grab 0.146
0.022 1.50 Trend * results for 26 of 38 samples collected all with
0.10% Cu ** also contains 1.82% Mo Breccia Trend A deeply
weathered, silicified, gossanous breccia and several smaller
gossans located to the south-southeast define the eastern Breccia
Trend, which has an open-ended 5 kilometre strike length. The
breccia is exposed on the side of a mountain over an area of about
150 x 500 metres and consists of 30-50 metre wide vuggy silicified
zones in contact with a north-northwest-trending dioritic dyke.
These zones are characterized by intensely silicified pebble- to
cobble-sized, sub-rounded to sub-angular fine-grained intrusive
rock fragments cemented by a vuggy siliceous groundmass.
Anastomosing veinlets with gray silica and copper-bearing sulphides
cross-cut both fragments and groundmass. Streams draining this area
show elevated values of copper to 108 ppm, or 2 to 3 times
background and elevated levels of arsenic (to 29.5 ppm As),
antimony (to 25 ppm Sb) and zinc (to 108 ppm Zn). The outcrop is
deeply weathered and highly leached and very little fresh rock is
exposed, but two silicified grab samples (M487778 and M487779)
returned values of 0.174% Cu and 0.211% Cu respectively, with
elevated levels of arsenic (693 and 419 ppm As), indium (0.108 and
0.16 ppm In), antimony (346 and 331 ppm Sb), and zinc (284 and 239
ppm Zn), respectively, typical of the geochemistry of some
epithermal systems. Grab samples (M487761 and M487775) from a
highly weathered gossan located 4 kilometres to the south-southeast
returned 0.215% and 0.06% Cu, respectively, whereas two samples
(M487751 and M487752) from a highly weathered gossan six kilometres
to the east returned 0.871 % and 0.641 % Cu, respectively. Sample
locations are shown on Figure 1, which can be viewed on the
Company's website at www.miocenemetals.com immediately following
this press. MacKenzie Drilling The two drill holes completed at the
main MacKenzie showing intersected the down-dip projection of
fracture-controlled Cu-Au-Mo mineralization that is exposed in the
cliff face near the MacKenzie showing (see Miocene press releases
dated August 12, 2010 and December 9, 2011) indicating the
mineralization is controlled by what appears to be a single strike
and dip persistent mineralized structure. Although the drilling
confirmed the continuity of the structure down-dip, widths and
grades encountered were less than those observed in the cliff face
with drill hole MMK-001 intersecting 0.24% copper over 0.2 metres
and MMK-002 intersecting 4.47% copper, 0.059 g Au/t and 595 ppm Mo
over 0.36 metres within a wider interval of 4.3 m grading 0.83%
copper, 0.043 g Au/t and 96 ppm Mo. The Qualified Persons
responsible for the technical content of this press release are
Jose Sayo Garcia, P.Geo, Vice President for Exploration of Miocene
Metals and Bruce Jago, Ph.D. and P. Geo, President and CEO of
Miocene Metals. Analytical Method The grab sample assay results
quoted above represent samples of mineralization collected from
outcrop by Miocene Metals staff. Grab samples are selective
by nature and are unlikely to represent average grades on the
property. In each case samples of mineralized outcrop weighing
approximately 0.3 to 4 kg were collected using a rock hammer. Both
the drill core and rock samples for which assay results are
reported in this press release were crushed to 70% passing 2 mm,
after which a split was taken with a riffle splitter and pulverized
to 85% passing 75 microns. The samples were then analyzed for
48 elements using Chemex's ME-MS61 package, which is an
inductively-coupled plasma mass spectrometry (ICP-MS) method
utilizing a near total four acid digestion. The samples were
assayed for Au by standard lead collection/fire assay fusion
(Au-ICP21) using a 30 gram pulp split and an inductively-coupled
plasma atomic emission spectrometry (ICP-AES) finish. About Miocene
Metals Limited Miocene Metals is focused on the exploration and
development of six 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 (including "forward-looking
information" within the meaning of applicable Canadian Securities
legislation and "forward-looking statements" within the meaning of
the US Private Securities Litigation Reform Act of 1995) that
involves substantial known and unknown risks and uncertainties,
most of which are beyond the control of the Company, including,
without limitation, those listed under "Risk Factors" and
"Forward-Looking Statements" in the Company's Final Prospectus
(collectively, "forward-looking information"). Forward-looking
information in this news release includes, but is not limited to,
information concerning the Company's summer 2012 drilling and
prospecting 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 Company'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 Company does not assume any obligation to
update or revise them to reflect new events or circumstances. The
Company 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's website
atwww.miocenemetals.com, orcontact:Miocene Metals LimitedBruce C.
Jago, Ph.D., P.GeoPresident and CEO of Miocene Metals Limited(604)
654-2581bjago@miocenemetals.com
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