Tuesday July 6, 9:35 am Eastern Time
Company Press Release
Manhattan Minerals: New Discovery At Tambo Grande
VANCOUVER, BRITISH COLUMBIA--Manhattan is pleased to announce that
drilling of the TG-3 geophysical anomaly at the Tambo Grande Project
in northern Peru has resulted in the discovery of a second massive
sulphide deposit located approximately 700 metres south of the
previously identified TG-1 deposit. To date a total of seven holes
have been completed in the deposit and assays have been received for
the first hole:
HOLE DEPTH DEPTH TO SULPH-Copper Zinc Lead Gold Silver
No. SULPHIDE IDE percent g/t
(metres) INT.
TG-3-1 249.0 143.1 42.3 1.0 1.0 0.1 1.11 29.0
Including 16.9 1.8 1.6 0.1 1.30 39.6
TG-3-2 232.9 Dyke
TG-3-3 319.1 155.1 100.3 Assays Pending
TG-3-4 410.6 178.3 215.8 Assays Pending
TG-3-5 425.2 152.0 255.7 Assays Pending
TG-3-6 328.3 151.0 51.8 Assays Pending
TG-3-7In progress 197.2 42.4 Assays Pending
25.5 Assays Pending
TG-3-8 266.4 154.4 9.3 Assays Pending
57.8 Assays Pending
Holes TG-3-9 and TG-3-10 are presently being drilled.
Holes TG-3-1 to TG-3-4 were drilled on approximately 200 metres
spacing; subsequent holes are approximately 70 metre stepout holes.
All holes are vertical and all intervals are true width.
The deposit is believed to be similar to the TG-1 deposit in that it
is characterized by zoned base metal mineralization within a pyrite
host. The massive sulphides, comprising pyrite, chalcopyrite, and
sphalerite, are hosted in a fault bounded basin within andesitic and
dacitic flows. Holes 3, 4, 5, 6, and 8 bottomed in
chalcopyrite/pyrite mineralized stockwork.
The TG-3 deposit remains open in all lateral directions. The Company
presently has three drills working and plans to continue drilling on
a grid pattern to determine the limits of the deposit before stepping
out to the other geophysical anomalies on the property.
TG-1 Gold Assays
Manhattan is also pleased to report results of gold assays carried
out on the resampling of core from 21 holes on the sulphide portion
of the TG-1 deposit, drilled by BRGM in 1979/80. A prior release
(June 18, 1999) summarized the results of gold and silver assays from
the oxide cap overlying the sulphide zone. Prior to this resampling
program by Manhattan, the gold content in both the oxide cap and the
sulphide zone had not been systematically quantified.
TG-1 is a volcanogenic massive sulphide deposit hosting an inferred
resource in a pyrite host. The resource is composed of three types of
mineralization:
Type Tonnes Copper Zinc Lead Silver
(g/t) (millions) percent percent (g/t)
I 14.7 2.5 0.5 0.3 40.2
II 20.8 1.4 2.6 0.5 43.2
III 6.8 2.9 0.1 0.0 13.7
Total 42.3 2.0 1.5 0.4 37.6
Previous grab sampling programs had estimated the gold content in
Type I mineralization to be approximately 0.8 g/t, in Type II
mineralization to be 1.0 g/t, and in Type III mineralization to be
nil. This resampling program returned the following results:
Type I - 0.60 g/t Type II - 0.84 g/t Type III - 0.17 g/t
Sampling methods, preparation and analytical procedures were carried
out under a quality control program designed by MRDI Canada, a
division of H.A. Simons Ltd. and ITS- Bondar Clegg Ltd. The samples
were prepared by ITS-Bondar Clegg at Manhattan's core logging
facility and then transported by ITS-Bondar Clegg for analysis in
Canada. Gold concentration was determined by standard fire assay
methodology. Silver concentration was determined using total acid
digestion with AA finish. The quality control program included the
insertion of duplicates, standards, and blanks in addition to
ITS-Bondar Clegg's standard quality control program. ITS-Bondar Clegg
is registered to ISO 9002 standard and all assays are certified by
B.C. Certified Assayers.
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Contact:
Manhattan Minerals Corp.
Graham G. Clow
President & C.E.O.
(604) 669-3397
manhattan-min.com
or
Manhattan Minerals Corp.
Michael Mallard
Shareholder Communications
(604) 669-3397 |
