Miocene Metals Announces Start of Drilling on Salal Molybdenum Property
24 Août 2011 - 9:05PM
PR Newswire (Canada)
TORONTO, Aug. 24, 2011 /CNW/ -- TORONTO, Aug. 24, 2011 /CNW/ -
Miocene Metals Limited (TSX-V: MII) (the "Company" or "Miocene
Metals") today announced that drilling has started on its Salal
Creek molybdenum-rhenium-silver ("Mo", "Re", "Ag") property located
in south-western British Columbia about 70 kilometres north of
Pemberton. Up to 3,000 metres of drilling in 10 holes is planned to
test up to five targets. The five targets are located along a 15
kilometre trend of molybdenite occurrences established by historic
exploration on the property and confirmed by Miocene sampling in
2010 (see Miocene press release dated August 12, 2010, and map on
Miocene Metals website (www.miocenemetals.com). Bruce Jago,
President and CEO of Miocene Metals stated "We are very pleased to
begin drilling on Salal, which is one of Miocene's key exploration
properties. The 15 kilometre trend of molybdenite occurrences
identified by historic sampling has been very poorly tested by
limited drilling in the past. It is very seldom one comes
across such a large mineralized system that is so poorly tested by
drilling. Drilling will start in the Logan Ridge and Mud Lake
areas, two of five zones of wide-spread surface occurrences of
molybdenite with drill-ready targets." Molybdenite mineralization
on the Salal property typically occurs at the contact between
fine-grained and coarse-grained quartz monzonite in
quartz-sericite-pyrite veins and vein stockworks, molybdenite
fracture coatings and more rarely as zones of disseminated
molybdenite. In the Logan Ridge area, mineralization in the contact
zone is exposed in outcrop over a width of 500 metres with the most
intense veining, which will be tested by drilling occurring over an
outcrop width of about 200 metres. Photos of the mineralization can
be seen on Miocene Metals website (www.miocenemetals.com). Salal
molybdenite is enriched in rhenium and accompanied by highly
anomalous Ag values as demonstrated by Miocene sampling in 2010,
which returned up 3.24% Mo, 3.55 ppm Re and 30.0 ppm Ag in two grab
samples collected from outcrop in the Mud Lake area on the north
side of the property. Rhenium typically occurs at very low
concentrations in the majority of mineral deposits but can be
enriched in molybdenum mineralization. Rhenium occurs within the
molybdenite mineral structure and is recovered during beneficiation
of molybdenite ores. Rhenium is used in super alloys and
electronics to prevent brittle failure in super-alloys at high
temperatures and in platinum-rhenium catalysts, amongst other uses.
Rhenium does not have a substitute in industrial applications as
its properties are unique. Rock samples were delivered directly to
ALS Chemex Ltd. Laboratories in Vancouver for preparation and
analysis. Samples were analysed for base metals, silver, mercury
and trace elements using Chemex's ME-MS61-m package, which is an
inductively-coupled plasma mass spectrometry (ICP-MS) method
utilising a near total four acid digestion. The samples were
assayed for Au by standard lead collection/fire assay fusion
(Au-ICP21) using a 30 gram pulp split and an inductively coupled
plasma atomic emission spectrometry (ICP-AES) finish. The Qualified
Person responsible for the technical content of this press release
is Jose Sayo Garcia, P.Geo, Exploration Manager 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. TORONTO, Aug. 24, 2011
/CNW/ -- Image with caption: "Salal Drill Collar Locations - Logan
Ridge and Mud Lake (CNW Group/Miocene Metals Limited)". Image
available at:
http://photos.newswire.ca/images/download/20110824_C5980_PHOTO_EN_2458.jpg
Image with caption: "Salal Work Areas (CNW Group/Miocene Metals
Limited)". Image available at:
http://photos.newswire.ca/images/download/20110824_C5980_PHOTO_EN_2459.jpg
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formatting, please use the following URL:
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p Please visit the Miocene Metal's website at a
href="http://www.miocenemetals.com"www.miocenemetals.com/a, or
contact: /p p Miocene Metals Limited /p table valign="top"
border="0" tr td Linda Zubal, Investor Relationsbr/ Tel: (705)
682-9297 ext. 247br/ Email: a
href="mailto:lzubal@miocenemetals.com"lzubal@miocenemetals.com/a
/td td /td td /td td /td td /td td
/td td Ron Poirier, Investor Relationsbr/ Tel: (705)
682-9297 ext 263br/ Email: a
href="http://rpoirier@miocenemetals.com"rpoirier@mio/aa
href="mailto:rpoirier@miocenemetals.com"cene/aa
href="mailto:rpoirier@miocenemetals.com"metals.com/a /td /tr /table
p /p p Please visit the Miocene Metal's website at a
href="http://www.miocenemetals.com"www.miocenemetals.com/a, or
contact: /p p Miocene Metals Limited /p table valign="top"
border="0" tr td Linda Zubal, Investor Relationsbr/ Tel: (705)
682-9297 ext. 247br/ Email: a
href="mailto:lzubal@miocenemetals.com"lzubal@miocenemetals.com/a
/td td /td td /td td /td td /td td
/td td Ron Poirier, Investor Relationsbr/ Tel: (705)
682-9297 ext 263br/ Email: a
href="http://rpoirier@miocenemetals.com"rpoirier@mio/aa
href="mailto:rpoirier@miocenemetals.com"cene/aa
href="mailto:rpoirier@miocenemetals.com"metals.com/a /td /tr /table
p /p p Please visit the Miocene Metal's website at a
href="http://www.miocenemetals.com"www.miocenemetals.com/a, or
contact: /p p Miocene Metals Limited /p table valign="top"
border="0" tr td Linda Zubal, Investor Relationsbr/ Tel: (705)
682-9297 ext. 247br/ Email: a
href="mailto:lzubal@miocenemetals.com"lzubal@miocenemetals.com/a
/td td /td td /td td /td td /td td
/td td Ron Poirier, Investor Relationsbr/ Tel: (705)
682-9297 ext 263br/ Email: a
href="http://rpoirier@miocenemetals.com"rpoirier@mio/aa
href="mailto:rpoirier@miocenemetals.com"cene/aa
href="mailto:rpoirier@miocenemetals.com"metals.com/a /td /tr /table
p /p
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