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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:0065M Mano River Resources Inc 06 June 2003 Mano River Resources Inc. NEWS RELEASE 6 June 2003 No: 2003/8 TSX-Venture Exchange (Trading Symbol: MNO) London Stock Exchange - AIM (Trading Symbol: MANA) MANO ACQUIRES NORTH PAMPANA LICENSE HOSTING HIGH GRADE GOLD DEPOSIT, SIERRA LEONE Mano River Resources Inc. ("Mano River") is pleased to announce the acquisition of the 'North Pampana' Exclusive Prospecting License (EPL), which hosts the high grade Yirisen gold deposit and strategically adjoins Mano River's 'South Pampana' EPL in central Sierra Leone. Summary *Mano acquires North Pampana EPL, host to the high grade Archaean Yirisen gold deposit *Independent Consultants confirm significant hard rock gold potential of EPL *Yirisen strike length of over 1km, as defined by artisanal gold mining, remains open *Further significant gold anomalies detected by extensive 1980's UNDP funded programme *Strategic northward extension of Mano River's prospective 'South Pampana' EPL North Pampana EPL The North Pampana EPL is located 150km east of Freetown and covers 57km2 at the southern end of the Sula Mountains greenstone gold belt (see www.manoriver.com/ mano/projects/gold_sl_pampana.shtml). The EPL represents a northward extension of Mano River's existing South Pampana EPL, which targets crustal scale gold mineralised shear zones. The North Pampana and South Pampana EPLs are separated by stretches of the Pampana River which, together with its tributaries, comprised one of Sierra Leone's principal and richest alluvial 'gold rush' mining districts. The North Pampana EPL contains the well known Yirisen gold deposit near the town of Kalmoro and several further gold anomalies as defined by a 1980's United Nations Development Programme (UNDP) funded geochemical programme. Mano will be integrating the extensive results of the UNDP programme in to the Company's Geographical Information System, which includes satellite imagery and structural analysis of the Pampana district, with the aim of generating further gold targets and extensions to the known gold mineralized trend. In February 2003, Mano River reported grab sample gold results of up to 4.5 grams per tonne (g/t) gold taken from quartz veins within talc schists in the South Pampana EPL, from a phase-1 reconnaissance survey 3km east of the town of Massamank, 10km southwest of Yirisen and in a area of active artisanal gold workings (see www.manoriver.com/mano/investor/nr/nr0305_17feb.pdf). Satellite imagery and UNDP mapping indicates the mineralization encountered in the South Pampana EPL lies within the same lithostructural unit as the Yirisen deposit. Yirisen gold deposit Field observations, made by Mano River's independent consultants ACA Howe International Limited during a recent site visit to the North Pampana EPL, confirm the significant hard rock gold potential of the Yirisen gold deposit and the high prospectivity for similar such deposits to occur along the Yirisen - Massamank trend that runs through the North Pampana and South Pampana EPLs. Mano River will now design and implement a significant work programme to advance the gold targets within the Pampana EPLs, subject to the necessary financing. The Yirisen deposit has many hallmarks of a potentially significant gold deposit. Certain parallels in terms of the style and extent of shear zone hosted mineralization can already be drawn with Mano River's KGL gold deposit (located approximately 350km south east) in western Liberia, where a gold resource of 610,000 ounces (indicated and inferred) at an average 4.8 g/t has been defined which remains open along strike and at depth. Mineralization was first noted at Yirisen by the Geological Survey of Sierra Leone in 1958. Seven north easterly trending sub-vertical lodes of quartz veining, averaging 150m in length were identified and returned gold values of between 5.5 and 48 g/t over widths of between 0.7 and 6.4 metres. The host rocks are predominantly talc schists with extensive pervasive sulphide mineralization in wall rocks adjacent to the main zone. Artisanal miners are currently working the Yirisen gold deposit by open pit to depths of up to 15 metres. In one exceptional instance a narrow (one metre wide) shaft has been sunk to an estimated depth of over 75 metres, with 10-15 metres horizontal galleries driven out from the shaft. The shaft is locally referred to as the 'UN pit', due to the considerable co-operation required between the artisanal miners during its construction. Artisanal gold workings immediately to the south of Yirisen, locally termed 'show field', combined with artisanal workings to the north of Yirisen, currently define a strike length of over 1km to the known mineralization, which remains open in both directions. In addition, a sub-parallel set of gold-bearing quartz veins has been located approximately 250 metres to the west of the main mineralization trend which, based on current artisanal hard rock workings and historic trenches, has an estimated minimum strike length of 600m. Updated summary of Mano River's gold portfolio in Sierra Leone The North Pampana licence acquisition completes Mano River's portfolio of gold targets in Sierra Leone, comprising: i. *Mano is in Joint Venture (JV) with Golden Prospect Plc (AIM:GOL) over two contiguous exploration licences in the Sonfon area, within the northern end of the Sula Mountains greenstone gold belt. The JV has defined a 3km long gold in soil anomaly, below which trenching has revealed a gold-bearing stockwork vein system with a best trench intersection of 7.3m@7.4g/t (see www.manoriver.com/mano/projects/gold_sl_sonfon.shtml). ii. *The two strategically located Nimini Central and Nimini South EPLs within the Nimini Hills greenstone gold belt (see www.manoriver.com/mano/projects/ gold_sl_nimini.shtml) which host parts of known lode gold deposits shared with two EPLs held by AfCan Mining (TSX-V:AFK), namely Nimini East and Nimini West and over which AfCan recently announced the signature of a Heads of Agreement for a Joint Venture with Ashanti Goldfields iii. *The North and South Pampana EPLs containing the Yirisen gold deposit within the Yirisen-Massamank mineralised trend, 30km north of the Baomahun gold deposit where a JV was recently announced between Mr Ronald Winston and Caldera Resources (TSX:CDR) Mano's CEO, Dr Tom Elder comments: "Through a pioneering and geologically-driven exploration strategy, Mano River currently holds an exceptional portfolio of gold exploration licences in Sierra Leone totalling 344km2 across some of the most prospective terrain within all three of the country's major greenstone gold belts and within which hard rock gold deposits are already being delineated". 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 MSCSSWSUMSDSESM
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