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Gold/Mining/Energy : Manhattan Minerals (MAN.T) -- Ignore unavailable to you. Want to Upgrade?

To: Sailfish who wrote (3231)	7/23/1999 10:23:00 AM
From: Ted Bowen	Respond to of 4504

Here's the press release VANCOUVER, BRITISH COLUMBIA--Manhattan is pleased to report the results of diamond drilling on the TG-3 deposit at the Tambo Grande Project in northern Peru. This drilling has confirmed the discovery of a major copper/zinc/gold massive sulphide deposit. The results reported are from 12 holes drilled between June 20, 1999 and July 8, 1999. In total, 4,015 metres of drilling were completed on these holes. The drilling was carried out on a hole spacing ranging from 70 metres to 200 metres. The samples were taken at one metre intervals from NQ (48mm) size whole core. Drilling continues on the deposit, in total, 20 holes and 7,400 metres have been completed up to July 22, 1999. Holes 13 to 20 have encountered massive sulphides in thicknesses ranging from 26 metres to 311 metres. The diamond drill program has traced the TG-3 deposit over a strike length of 850 metres, widths up to 350 metres and depths up to 400 metres. The deposit, at this early stage of exploration, has the potential to be much larger than the nearby TG-1 deposit (see report of July 20, 1999). Confirmation of the gravity survey anomaly by drilling suggests that the sulphide system could extend for more than 1500 metres in strike length and over 600 metres in width. The TG-3 deposit is a volcanically hosted polymetallic massive sulphide deposit. Copper/zinc/gold mineralization is well distributed throughout the deposit and there are distinct higher grade zones and lenses within the overall body, in particular, a copper/zinc/gold zone at the hangingwall and a copper/gold zone at the footwall. HOLE No. Interval Cu Zn Pb Au Ag (metres) percent (g/t) From To True Width TG3-001 143.0 185.8 42.8 0.98 1.02 0.09 1.11 29.0 incl. 175.0 185.8 10.8 2.21 1.02 0.09 1.39 47.6 TG3-002 Dyke material - no significant intersections TG3-003 155.1 254.6 99.5 0.97 0.63 0.08 0.44 13.4 incl. 155.1 170.0 14.9 0.97 3.29 0.36 1.05 55.5 incl. 195.5 206.0 10.5 1.28 0.07 0.04 0.51 9.9 incl. 243.0 254.6 11.6 2.76 0.03 0.00 0.06 3.4 TG3-004 178.4 394.2 215.8 0.47 0.45 0.04 0.61 9.0 incl. 178.4 185.0 6.6 0.78 1.12 0.26 0.82 18.4 incl. 324.9 338.7 13.8 1.41 0.18 0.02 0.69 7.1 incl. 346.2 357.0 10.8 1.97 0.41 0.04 0.70 12.0 incl. 382.0 394.2 12.2 0.89 1.14 0.04 0.92 34.3 TG3-005 156.0 387.0 231.0 0.52 0.23 0.03 0.60 7.6 incl. 156.0 166.0 10.0 1.25 0.58 0.04 0.89 21.3 incl. 275.0 287.0 12.0 0.98 0.21 0.03 0.84 14.0 incl. 325.0 345.0 20.0 1.08 0.10 0.02 0.69 6.8 incl. 376.0 383.0 7.0 2.38 0.32 0.02 0.57 10.8 TG3-006 150.7 212.0 61.3 1.01 1.01 0.08 0.47 13.4 incl. 152.0 177.0 25.0 0.70 2.13 0.15 0.75 20.8 incl. 197.0 212.0 15.0 2.11 0.18 0.01 0.13 7.6 TG3-007 upper 197.0 239.5 42.5 1.88 2.29 0.15 1.30 46.2 incl. 197.0 203.0 6.0 1.57 1.90 0.20 1.37 47.0 incl. 221.0 238.0 17.0 2.42 3.44 0.20 1.56 57.9 lower 312.5 328.2 15.7 0.93 1.16 0.12 0.94 31.2 incl. 321.0 328.2 7.2 1.03 2.17 0.18 1.05 38.2 TG3-008 upper 149.6 163.8 14.2 1.44 4.10 0.11 0.74 53.1 lower 182.0 228.0 46.0 0.66 0.61 0.05 0.45 11.3 incl. 182.0 191.0 9.0 0.43 2.65 0.11 0.73 19.9 TG3-009 upper 153.3 200.2 46.9 0.89 1.27 0.13 1.07 30.8 incl. 178.0 184.0 6.0 0.75 1.93 0.13 1.20 32.1 mid 1 206.4 218.7 12.3 1.48 4.60 0.42 1.71 80.4 mid 2 307.0 353.0 46.0 0.94 0.84 0.05 0.88 27.3 incl. 307.0 314.0 7.0 1.55 0.52 0.05 1.20 34.3 incl. 345.0 351.0 6.0 0.70 2.46 0.06 0.62 32.0 lower 362.0 379.0 17.0 0.78 2.22 0.07 0.91 30.9 incl. 371.0 377.0 6.0 0.53 3.51 0.09 0.98 36.3 TG3-010 171.3 212.0 40.7 0.43 4.38 0.22 1.23 52.1 incl. 178.0 211.0 33.0 0.46 5.11 0.25 1.40 58.9 TG3-011 214.3 223.5 9.2 1.55 1.45 0.13 1.15 38.5 TG3-012 150.3 246.0 95.7 0.76 1.25 0.07 0.38 20.2 incl. 160.0 173.0 13.0 1.14 4.53 0.25 0.66 54.7 incl. 180.0 189.0 9.0 0.33 2.78 0.09 0.46 35.1 incl. 191.0 199.0 8.0 0.78 1.49 0.04 0.27 13.9 It is apparent from the early drill holes that the TG-3 deposit is similar to the model developed for TG-1, consisting of a large pyritic, stratigraphic mound (holes 4 and 5 in the south, and hole 3 in the north) surrounded by zoned copper-zinc mineralization that increases in grade with distance from the core (holes 6 to 12). The notable exception to the model is that the pyritic core of TG-3 has potentially economic copper/zinc/gold mineralization. As in TG-1, the upper portions of the TG-3 sulphide stratigraphy also contain abundant barite and an associated elevated precious metal content. Although significant work remains to be done, it is possible to make some early observations. TG-3, as it is presently understood, lends itself to several potential mining scenarios - from a high tonnage open pit to a more selective, bulk underground operation. In addition, TG-3 has the very distinct advantage of being located only 700 metres to the south of the already defined TG-1 deposit and very well served by infrastructure and access in the Piura region. Continuing exploration of the deposit will focus on defining the base and precious metal zones that surround the dominant core to the system, establishing the geometry of sulphide accumulation, and developing an understanding of the controlling volcanic stratigraphy. Quality Control 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. Base metal and silver concentrations were 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. The core was halved and the remaining portion kept for future analysis, if required. Future Work There are presently three drills working on the TG-3 deposit. Preparations are being made to drill the TG-6 and TG-7 anomalies within the next two weeks. Drilling will continue on TG-3 for the foreseeable future. --------------------------------------------------------------------------------