Miocene Metals Expands Mineralized System at Rogers Creek

    




 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   [phone] or                 (604 654-2585 [e-mail]           [e-mail] 


    

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