La Manchuria Project Drilling Update
VANCOUVER, BRITISH COLUMBIA--Abacus Minerals Corporation is pleased to announce that an eight hole reverse circulation drill program was completed ten days ago on the Company's La Manchuria project in Santa Cruz Province, southern Argentina. Acme Analytical Laboratories Ltd. in Santiago, Chile has informed the Company that they have received all samples and have begun the analysis for gold and silver values. Results are anticipated shortly.
Seven of the holes were drilled immediately along strike to the northwest and southeast of last year's drilling which included intersections of 101.55 metres grading 3.81 g/t gold including 13.5 metres of 21.7 g/t gold, 54.6 metres of 4.46 g/t gold, 14.5 metres of 5.10 g/t gold, and 43.5 metres of 1.27 g/t gold.
An eighth drill hole was directed at a recently outlined target two kilometres south of the main area of drilling. The target is characterized by high mercury-anomalous soil geochemistry (800 metres open-ended), and rock geochemistry with associated gold values to 0.3 g/t gold.
The La Manchuria project is a low sulphidation epithermal gold- silver target with the potential of a deposit size similar to Anglo American's nearby 4,000,000 ounce Cerro Vanguardia gold mine. Other significant gold-silver deposits of this type are found at Meridian Gold Inc [NYSE:MDG - news].'s El Penon project in northern Chile where deposits of 1,100,000 tons grading 27 g/t gold and 410 g/t silver and 4,400,000 tons of 6.6 g/t gold and 99 g/t silver have been discovered to date in two separate structures. Other significant deposits include the Hishikari deposits in Japan where two deposits consist of 3,200,000 tons grading 63 g/t gold and 2,000,000 tons grading 25 g/t gold, the McLaughlin Mine in California, Cripple Creek in Colorado, the Golden Cross Mine in New Zealand, and the Emperor Mine in Fiji.
For a more thorough overview on the La Manchuria project, please visit the company's website at www.abacusminerals.com.
On Behalf of the Board,
ABACUS MINERALS CORPORATION
Steve L. Todoruk, P.Geo., President |
