Mansfield Minerals Inc.: It's a Wrap!; Drilling at Lindero Concludes With Strong Intercepts
04 Februar 2008 - 3:00PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: MDR) has received
drilling results from the final 15 holes on its wholly owned
Lindero gold deposit, northwestern Argentina. The results shown
below from this concluding phase of the drill campaign are divided
into regions within the deposit.
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Lindero Project Drilling Results - Infill & Define NW Body
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Drill Hole Gold
Number Interval Length (g/t) Comments
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LDH-102 132-298 m 166 m 0.70 Extends mineralization to west and
incl. 176-200 m 24 m 0.90 at depth.
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LDH-103 80-222 m 142 m 0.92 Sub-vertical holes to better define
90-150 m 60 m 1.00 size and geometry of NW body.
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LDH-104 86-206 m 120 m 0.91 Sub-vertical holes to better define
incl. 102-168 m 66 m 1.03 size and geometry of NW body.
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LDH-105 80-280 m 200 m 1.00 Sub-vertical holes to better define
incl. 170-228 m 58 m 1.34 size and geometry of NW body.
and 114-136 m 22 m 1.28
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Lindero Project Drilling Results - Infill & Define East Body
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Drill Hole Gold
Number Interval Length (g/t) Comments
---------------------------------------------------------------------------
LDH-110 3-236 m 233 m 0.94 Extends high grade zone found in
incl. 124-200 m 76 m 1.25 LDH-19.
and 3-52 m 49 m 1.16
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LDH-111 32-166 m 134 m 1.09 Extends south high grade zone of
incl. 32-156 m 124 m 1.15 east body.
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LDH-114 64-102 m 38 m 0.56
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LDH-115 42-88 m 46 m 0.92
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Lindero Project Drilling Results - Test Mineralization Found in Middle of
Deposit
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Drill Hole Gold
Number Interval Length (g/t) Comments
---------------------------------------------------------------------------
LDH-112 232-296 m 64 m 0.62
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LDH-113 88-360 m 272 m 0.52 Marginal expansion of central body.
incl. 130-214 m 84 m 0.60
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Lindero Project Drilling Results - Located to Test Area with No Information
---------------------------------------------------------------------------
Drill Hole Gold
Number Interval Length (g/t) Comments
---------------------------------------------------------------------------
LDH-101 32-62 m 30 m 0.63 Located in an area of no
information encountered post
mineral intrusion.
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The initial 43-101 resource estimate at Lindero of 29,953,000
tonnes inferred at 1.08 grams/tonne gold (1,035,900 oz gold) using
a 0.6 grams/tonne cut-off and based upon 11 drill holes, was
calculated by Rio Tinto Mining and Exploration Ltd. and audited by
Roscoe Postle Associates Inc. in October 2003. Subsequently, the
Company has completed an additional 104 holes comprising
approximately 30,000 metres of drilling. This program has been
successful in expanding the footprint of the deposit significantly.
A current resource estimate is now being calculated combining all
of the results received to date.
On January 22, 2008, a Mansfield delegation toured the Kinross
Gold Refugio heap leach gold mine located in central Chile, 250 km
southwest of Lindero. Refugio is of particular interest to the
Company as it exhibits striking similarities to Lindero including
geology, deposit geometry, leach characteristics and grade
distribution. Operating metrics at Refugio will provide a useful
template for establishing the economics of the Lindero deposit.
There has been a recent announcement by the Argentinean federal
government of the revoking of an exemption of a 5% net tax on the
export of unrefined gold. This tax policy has been in place since
2001 and only deposits put into production prior to 2001 are
affected by the loss of the exemption. All deposits put into
production after 2001 have been subjected to this tax. Deposits
such as Veladero, Gualcamayo, Manatial Espejo, Huevos Verdes, and
Pirquitas all have this tax contemplated in their feasibility
reports.
Gordon Leask, President & CEO, comments:
"The Company is fortunate to own a deposit of Lindero's quality
in a very acquisitive gold market. Lindero has many favourable
physical characteristics including size, grade, grade distribution,
recovery rate, and amenability to leaching as well as location.
Upon the completion of the updated resource estimate and scoping
study, I believe the shareholders will enjoy the true value of the
Lindero deposit."
A map of the drill hole locations has been posted on the
Company's website and can be viewed at
www.mansfieldminerals.com/s/Lindero.asp.
Security - Chain of Custody and Quality Control
Two metre lengths of HQ core samples were halved with a diamond
saw and bagged at the field facility. The bags were tied with
plastic color-coded security ties. Sample bags were then placed in
shipping boxes and couriered by company vehicle to the Acme
Analytical Laboratories S.A. prep lab in Mendoza, Argentina.
Samples are prepped and fire assayed at Acme facilities in Mendoza,
Argentina. Part of the pulps is shipped by Acme to their lab in
Santiago, Chile for further assaying. The Company employs a Quality
Control program consisting of re-assaying, in two different assay
laboratories, randomly selected coarse reject samples and pulp
samples, and also insertion of a pulp standard sample, a coarse
blank and a duplicate of each 20 samples in the field.
This news release has been reviewed by Gordon P. Leask, P.Eng.,
President of the Company, and a Qualified Person ("QP") as defined
by National Instrument 43-101 (Standards of Disclosure for Mineral
Projects).
About Mansfield Minerals Inc.
Mansfield is a mining exploration company which has focused its
activities in northwestern Argentina since August 1994. The
Company's current significant properties and projects consist of
mineral rights covering approximately 170 square miles in three
Argentine provinces and one Canadian province. The Company is
currently focused on two primary projects which include Lindero
(gold) and Rio Grande (copper-gold).
On behalf of the Board of Directors,
Gordon P. Leask., P.Eng., President
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward looking statements, oral or written, made by
itself or on its behalf.
The TSX Venture does not accept responsibility for the adequacy
or accuracy of this release.
Contacts: Mansfield Minerals Inc. Nancy Goertzen (604) 681-4462
(604) 681-0180 (FAX) Email: info@mansfieldminerals.com Website:
www.mansfieldminerals.com
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