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Name | Symbol | Market | Type |
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21Shares AG | EU:MANA | Euronext | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.0051 | 0.29% | 1.7456 | 1.8977 | 1.8164 | 1.9217 | 1.7267 | 1.7649 | 4,510 | 16:35:02 |
RNS Number:6431P Mano River Resources Inc 11 September 2003 MANO RIVER RESOURCES INC. NEWS RELEASE 11 August 2003 No: 2003/18 TSX-Venture Exchange (Trading Symbol: MNO) London Stock Exchange - AIM (Trading Symbol: MANA) GOLD SYSTEM EXTENDED AND HIGH GRADE DRILL TARGETS DEFINED AT YIRISEN PROJECT, SIERRA LEONE Summary *Drill targets defined beneath high grade gold zone with best trench intersect of 6.4m@23g/t *Total inferred strike of Yirisen gold system extends over 4km and remains open Mano River Resources Inc. ("Mano River") announces that a review and analysis of historic data has defined high grade drill targets at the Yirisen gold project and significantly extended its potential strike length. The Yirisen project is located 150km east of Freetown, within Mano River's North Pampana Exclusive Prospecting Licence (EPL) which, together with the Company's contiguous South Pampana EPL targets crustal scale gold mineralised shear zones across 140km2 of the southern end of the Sula Mountains greenstone gold belt. The EPLs include stretches of the Pampana River which comprised one of Sierra Leone's richest and oldest alluvial gold mining districts. Reconnaissance work undertaken in May 2003 by independent consultants ACA Howe International Ltd, indicates that artisanal mine workings currently extend for 1.5km to the southwest of the project to depths of up to 15m. The total inferred strike length for the Yirisen gold system is currently estimated to be in excess of 4km and remains open along strike in both directions. A targeted follow up exploration programme including drilling, trenching and soil surveying is currently being planned and, subject to financing, will be undertaken in order to test the vertical continuation of gold mineralization evident within trenches and to test the strike extension of the mineralized system as indicated by geochemical anomalies. Detailed maps of the project are available on the following webpage http://www.manoriver.com/mano/projects/gold_sl_pampana.shtml. On the subject of the results from the historic survey data Mano's CEO, Dr Tom Elder comments: "The availability of such a comprehensive exploration database for a project which exhibits the apparent high potential seen at Yirisen is rare. The extensive gold in soil anomalies, which indicate the gold system is open along strike and which are coincident in places with high grade trench and drill results, means the Yirisen gold project is at the drill ready stage. Mano's benchmark for gold exploration is high grade deposits grading at least 4g/t with potential for greater than one million ounces and amenable to open pit mining. Such deposits typically require large structures in which to form, carry significant surface geochemical signatures and are proximal to extensive primary or secondary artisanal gold workings. Certain parallels in terms of the style and extent of shear zone hosted mineralization at Yirisen can be drawn with Mano River's KGL gold deposit, located approximately 350km to the south east, in western Liberia, where an initial indicated and inferred gold resource of 610,000 ounces at an average 4.8 g/t has been defined. The results from the historic database indicate that Yirisen has many of the hallmarks of a significant gold deposit with excellent exploration potential". BACKGROUND INFORMATION Historic database Three sets of historic data have been integrated into Mano River's Geographical Information System (GIS) of the Pampana district that includes satellite imagery, structural analysis and mapping. The historic results are detailed below. i) Geological Survey of Sierra Leone - 1958 Hard rock gold mineralization was first noted at Yirisen by the Geological Survey of Sierra Leone in 1958 as part of a programme of mapping and sampling of the country's major hard rock artisanal gold mines. The Survey identified seven north easterly trending sub-vertical lodes of gold mineralised quartz veining, averaging 150m in length. Sampling by the Survey returned numerous gold intersections in trenches, the significant values being listed in Table 1 below. Table 1. Lode Length metres g/t Gold ----------- ------------ ---------- 3 mid S 2.69 20.97 4N 2.29 44.08 4midN 2.36 15.92 4mid 6.38 22.96 4midS 5.28 24.80 5mid 0.69 83.27 7N 1.37 20.97 7S 0.46 30.61 ----------- ------------ ---------- ii) Northern Province Prospecting Venture (NPPV) - mid 1960s In the mid 1960s the NPPV undertook mapping, soil geochemical surveying, trenching and drilled three holes at Yirisen giving the results listed in Table 2 below. Table 2. Hole From (m) To (m) Intercept (m) Au (g/t) Ag (g/t) ------- -------- ------ --------- ------ -------- K-1 86.04 86.72 0.67 5.51 74.69 K-1 89.18 89.69 0.51 24.49 277.96 K-1 92.35 92.74 0.38 7.65 42.55 K-1 95.39 95.48 0.09 7.96 94.29 K-2 159.03 159.11 0.08 14.69 22.96 K-3 11.53 11.84 0.30 4.90 46.53 K-3 28.37 28.73 0.36 3.37 102.55 K-3 33.45 33.78 0.33 31.53 221.94 K-3 41.20 41.30 0.10 3.98 7.96 K-3 57.61 57.99 0.38 11.63 7.35 K-3 63.60 63.96 0.36 0.31 0.92 ------- -------- ------ --------- ------ -------- Mano River considers it significant that drill hole K-1 shows narrow high grade intercepts occurring over a drilled width of some 20m. The distribution of results from the drill holes suggests that only zones containing visible gold may have been sampled, while the host rock material between these intercepts which contains pervasive sulphide mineralization and possible disseminated gold mineralization appears to have not been sampled. Based on maps prepared by NPPV, it is considered likely by Mano River that drill hole K-2 was collared too far east to have intersected the zone of mineralization. iii) United Nations Revolving Fund (UNRF) - mid 1980s Between December 1984 and May 1987 the United Nations Revolving Fund (UNRF) for Natural Resources Exploration undertook an extensive regional programme of gold exploration in the Pampana district of the southern Sula Mountains. The programme was designed to identify the source rocks of the alluvial gold being mined extensively by artisanal miners. Stream sediment sampling (1,087 samples), soil sampling (2,474 samples), topographic surveying, mapping, pitting and trenching were undertaken. Following verification of stream sediment anomalies, two areas namely, Yirisen and Masamank (South Pampana EPL), were targeted for detailed soil sampling with a total of 1,477 sample sites. At Yirisen soil sampling grids were extended 2.5km north-eastward from the northern limit of known gold mineralization. Two anomalous gold zones were defined by a 50 parts per billion (ppb) gold in soil contour. The most southerly anomaly is comprised of three parallel mineralised trends, the most easterly of which continues for 700m from the mapped extent of the Yirisen project. Some 1,200m north-east of the known mineralization a second 1,500m long by 200m wide gold anomaly extends along the contact between amphibolite and talc schist lithologies. A second grid, 400m east of the main Yirisen grid at Kalmoro, identifies a 750m long by 500m wide northeast trending anomalous gold zone, parallel to the trend of the Yirisen gold system. About Mano River - Leader in emerging West African gold province Mano River Resources Inc, is a Tier-1 TSX-V and AIM listed gold and diamond exploration company which has assembled an exceptional portfolio of hard rock gold and kimberlite diamond exploration licences totalling 2,367km2 across some of the most prospective terrain in Sierra Leone, Liberia and Guinea and within which significant deposits are already being delineated. Based on the quality and quantity of gold properties assembled to date Mano River is extremely well placed to benefit from its position as a pioneer in what has the potential to develop into a world class Archaean gold province, potentially similar in scale and productivity to the Lake Victoria greenstone goldfields in Tanzania. On behalf of the Board of Mano River Resources Inc. Tom Elder President and CEO For further information on Mano River Resources and its exploration programme, you are invited to visit the Company's website at www.manoriver.com or contact one of the following: Tom Elder President and CEO UK +44 (0) 1235 810 740 Guy Pas Co-Chairman Switzerland +41 22 758 2151 Anthony Rhatigan Co-Chairman Mobile +44 (0) 7785 297 348 Raz Hussein Controller Canada +1 (604) 689 1700 Gary Middleton Britton Financial PR UK +44 (0) 20 7251 2544 The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release This information is provided by RNS The company news service from the London Stock Exchange END DRLKFLBFXKBLBBK
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