Miocene Metals Expands MacKenzie Copper-Gold Property Eight-Fold
14 Février 2012 - 9:17PM
PR Newswire (Canada)
TORONTO, Feb. 17, 2012 /CNW/ - Miocene Metals Limited (the
"Company" or "Miocene Metals") today announced that after
evaluating the results of its summer 2011 work program, it has
expanded the size of its MacKenzie property eight-fold from 36.3
square kilometres to 299.03 square kilometres. Commenting on the
increased land package, Bruce Jago, President and CEO of Miocene
Metals stated "As we believe we now have firm evidence that the
copper-gold mineralization at MacKenzie is related to a buried
porphyry system, and we have yet to define the limits of the
system, which gave rise to the mineralization identified to date,
we felt it prudent to secure a dominant land position in the area."
The decision to expand the MacKenzie property resulted from the
identification of fine-grained, granodioritic intrusive rocks
associated with the structurally controlled high-grade copper-gold
mineralization, which has been mapped and sampled on surface over
an area of about 700 by 1200 metres (see Miocene press release
dated December 9, 2011). These intrusive rocks cross-cut, and
are clearly younger than the surrounding Coastal Pluton Complex
rocks. This and the close spatial and genetic relationship between
the fine-grained intrusive rocks, the associated potassic
alteration, and the copper-gold mineralized structures are
interpreted by the Company to imply that the high-grade surface
exposures are related to a porphyry system, which is not exposed at
the current erosion level, and the exact location of which is not
known at this time. Expansion of the property is intended to ensure
that the potential porphyry source for the mineralization falls
within the property boundaries. The Mackenzie property is located
80 kilometres to the northwest of Pemberton BC and is one of
Miocene Metals' seven properties within the Tertiary-aged Cascade
Magmatic Arc. Miocene's 2012 exploration program at MacKenzie will
focus on drill testing the high-grade mineralized structures, which
have been identified on surface, as well as surface mapping and 3D
modelling to locate the potential buried porphyry source for the
mineralization. The Qualified Person responsible for the technical
content of this press release is Jose Sayo Garcia, P.Geo, Vice
President Exploration 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. Miocene Metals Limited
CONTACT: Please visit the Miocene Metal's website
atwww.miocenemetals.com, orcontact:Miocene Metals LimitedBruce C.
Jago, Ph.D., P.GeoPresident and CEO of Miocene Metals(604) 654-2581
orbjago@miocenemetals.comMiranda BerukoffVice-President Investor
Relations(604) 654-2585 ormberukoff@miocenemetals.com
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