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MANA 21Shares AG

1.7456
0.0051 (0.29%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
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
  0.0051 0.29% 1.7456 1.8977 1.8164 1.9217 1.7267 1.7649 4,510 16:35:02

Exploration Update

04/11/2003 9:48am

UK Regulatory


RNS Number:6382R
Mano River Resources Inc
04 November 2003


                            MANO RIVER RESOURCES INC.

                                  NEWS RELEASE

4 November 2003
No: 2003/20

TSX Venture Exchange  (Trading Symbol: MNO)
London Stock Exchange - AIM (Trading Symbol: MANA)

          EXPLORATION UNDERWAY AT YIRISEN GOLD PROJECT IN SIERRA LEONE

   *3.75 km long gold system open along strike

   *Zone of mineralisation locally up to 200m wide

   *5,000m - 10,000m multi-rig drill programme planned to produce resource
    estimate


Mano River Resources Inc. ("Mano"), a pioneering West African gold and diamond
exploration company, announces the scaling up of its surface exploration
programme on its Yirisen gold project.

The Yirisen project is located in Sierra Leone, 150km east of Freetown within
Mano's North Pampana Exclusive Prospecting Licence (EPL) which, together with
its 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, one of Sierra Leone's
richest and oldest alluvial gold mining systems.

Yirisen is Mano's most advanced gold project in Sierra Leone, historic work
returning a best trench intersect of 6.4m@23g/t Au, as described in the news
release of 11th September 2003 (http://www.manoriver.com/mano/investor/nr/
nr0318_11sep.pdf). The Yirisen gold system, as defined by a combination of
mapped sites of in situ mineralization, artisanal workings and soil geochemical
anomalies (see http://www.manoriver.com/mano/projects/gold_sl_pampana.shtml),
trends north-north east with a current inferred strike length of 3.75 km, open
in both directions. Independent consultants ACA Howe International Ltd report
from a recent visit to Yirisen that several bands of high-grade gold
mineralization occur over a total width of up to 200m. Artisanal workings,
extending to depths of up to 5m, confirm that gold is not solely restricted to
the high-grade veins and that within both the oxide and sulphide zones, is
partially free milling.

On the subject of progress at the Yirisen gold project Mano's CEO, Dr Tom Elder,
comments: "Based on the surface expression of the gold system, evidence from
artisanal workings and results from historic work, Mano has high expectations
for exploration success at Yirisen. Our stated benchmark for gold exploration is
deposits grading at least 4g/t, with potential for greater than one million
ounces and amenable to large-scale open-pit mining methods. 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, all characteristics which Yirisen displays."

Mano's geological field crews have been mobilised to the Yirisen camp, with a
four week surface exploration programme now underway aimed at verifying previous
sampling carried out by the Geological Survey of Sierra Leone, the Northern
Province Prospecting Venture and the UN. Much of the historic trench and channel
sampling was selective in nature, with disseminated mineralization between high
grade zones of veining and sulphides appearing to have not been adequately
tested, despite reports by local miners that gold is won from this material. The
current sampling will enable an aggressive first phase drilling programme to be
designed to thoroughly test the mineralization and, subject to results obtained,
permit the estimation of a preliminary resource. It is anticipated that this
drill programme will, subject to the availability of financing, comprise 5,000
to 10,000m of diamond core drilling to be undertaken in the first quarter of
2004. Given the potential scale of the Yirisen project, it is envisaged that up
to three rigs may be mobilised in the initial drilling programme.

Appointment of UK financial public relations advisers

Mano is also pleased to announce the appointment of Capital Integrated Marketing
Communications (Europe) Ltd ("Capital"), to act as its financial public
relations adviser in the UK. This ensures continuity of service, following the
move to that company of Mano's London-based investor relations manager, Mr Gary
Middleton. Capital is a financial PR company with offices in Australia, London
and China, specialising in natural resources. Its strengths lie in the personal
relationship it has with the media and with the financial community, through the
extensive contacts and experience of its staff. Capital will provide a valuable
service to Mano, aimed at lifting its profile so as to achieve a better
appreciation in the investment community and media of the Company's portfolio of
gold and diamond exploration projects in West Africa.

About Mano

Mano is focused on the discovery of world-class gold and diamond deposits in the
Archaean terrain of the highly prospective, yet under-explored, West African
Mano River Union countries of Sierra Leone, Liberia and Guinea. The Company has
close to one million ounces of gold in resource, a cluster of diamondiferous
kimberlite pipes under joint venture and a number of highly attractive early
stage gold and diamond targets. Management has a strong technical background, a
thorough knowledge of the political and economic structures of West Africa and a
successful track record. With increasing market recognition of the recent
positive evolution in the regional political and economic landscape, Mano is
well positioned to capitalise on its position as a leading gold and diamond
explorer in the sub-region.

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
    Dru Edmonstone         Seymour Pierce                   UK +44 (0) 7107 8000
    Gary Middleton         Capital PR                    UK +44 (0) 7951 603 289

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
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