Reservoir Reports Trenching Results From Bibemi Gold License, Cameroon
16 Octobre 2013 - 10:02PM
Marketwired Canada
Reservoir Minerals Inc. ("RMC" or the "Company") (TSX
VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE) (is pleased to report results from
its trenching program on the Bibemi Gold Exploration License in northern
Cameroon. Nineteen trenches have been excavated to date, partially testing a
twenty kilometer-long gold-in-soil geochemistry anomaly (see Company News
Release, dated November 1, 2012 for details). The best results from channel
sampling of weathered bedrock included 10 metres containing 2.26 grams per tonne
("g/t") gold from Trench T07.
Dr. Simon Ingram, President and CEO of Reservoir Minerals commented: "These
results confirm the presence of gold in weathered bedrock over at least 6
kilometres of the 20 kilometre soil anomaly, with mineralization remaining open
along strike to both the northeast and southwest. This is an exciting new
discovery of Pan-African type of orogenic gold mineralization of the style that
supports mining operations elsewhere in the continent."
Results of the Trenching Program
The gold-in-soil geochemical anomaly and initial trench results of 30 metres
with an average grade of 0.73 g/t gold in the Bibemi License, northern Cameroon,
(see Company News Release, dated November 1, 2012) has been tested by a further
19 trenches. The trenches were dug by hand, to weathered bedrock, a depth
between 0.7 metres to 1.5 metres, perpendicular to strike and to the trend of
the soil anomaly. Continuous channel samples, 2 metres long, were collected from
the weathered bedrock along the base of the trenches.
The best results are summarised in Table 1. The location of the trenches is
posted on the Company website
(http://reservoirminerals.com/files/Bibemi_Trench_Log.pdf).
Table 1: Summary of significant results from trenches in Bibemi License,
Cameroon
----------------------------------------------------------------------------
Average Range
gold (minimum -
From To Length content maximum)
Trench (m) (m) (m) (g/t) gold (g/t) Lithology
----------------------------------------------------------------------------
T01 116 310 194 0.25 0.01 - 4.00 sericite schist
-------------------------------------------------------------
including 216 230 14 1.00 0.28 - 3.19
----------------------------------------------------------------------------
T02 144 166 22 1.50 0.04 - 6.05 metadiorite
-------------------------------------------------------------
including 150 158 8 3.64 3.26 - 6.05
----------------------------------------------------------------------------
1242 1244 2 3.88 sericite schist
-------------------------------------------------------------
1266 1270 4 0.48 0.27 - 0.69
----------------------------------------------------------------------------
T03 352 356 4 1.02 0.10 - 1.93 sericite schist
----------------------------------------------------------------------------
T04 276 464 188 0.36 0.01 - 8.51 sericite schist
-------------------------------------------------------------
including 276 294 18 1.47 0.04 - 8.51
-------------------------------------------------------------
and 392 394 2 4.04
-------------------------------------------------------------
and 422 426 4 4.70 1.38 - 8.04
----------------------------------------------------------------------------
T07 378 400 22 1.13 0.03 - 2.79 metadiorite
-------------------------------------------------------------
including 390 400 10 2.26 1.46 - 2.79
-------------------------------------------------------------
422 426 4 0.43 0.41 - 0.45
----------------------------------------------------------------------------
T08 384 428 44 0.39 0.02 - 3.31 metadiorite and
schist
----------------------------------------------------------------------------
including 420 428 8 1.15 0.09 - 3.31 sericite schist
----------------------------------------------------------------------------
486 606 160 0.39 0.02 - 4.50 metadiorite
with quartz
veins
-------------------------------------------------------------
including 486 494 8 1.14 0.43 - 2.95
-------------------------------------------------------------
and 546 552 6 1.94 0.60 - 4.50
----------------------------------------------------------------------------
T09 460 464 4 0.32 0.21 - 0.44 metadiorite
----------------------------------------------------------------------------
T10 102 104 2 2.31 metadiorite
with quartz
veins
-------------------------------------------------------------
154 186 32 0.36 0.01 - 2.87
-------------------------------------------------------------
including 180 186 6 1.25 0.14 - 2.87
----------------------------------------------------------------------------
T11 114 116 2 1.67 sericite schist
with quartz
veins
----------------------------------------------------------------------------
906 908 2 1.34 schist
----------------------------------------------------------------------------
1110 1112 2 2.81 schist with
quartz vein
----------------------------------------------------------------------------
T12 626 628 2 1.08 schist
----------------------------------------------------------------------------
T13 356 386 30 2.17 0.24 - 18.00 sericite schist
with quartz
veins
-------------------------------------------------------------
including 366 378 14 3.55 0.92 - 18.00
----------------------------------------------------------------------------
T14 108 112 4 0.46 0.24 - 0.68 metadiorite
contact to
schist
----------------------------------------------------------------------------
T15 400 410 10 0.76 0.10 - 2.55 metadiorite
-------------------------------------------------------------
including 400 402 2 2.55
----------------------------------------------------------------------------
T16 110 116 6 0.50 0.22 - 0.67 schist -
metadiorite
contact
----------------------------------------------------------------------------
The results from trenches T01 to T14 define a trend of at least two sub-parallel
zones of gold mineralization that extend northeast to southwest striking for
approximately 6 kilometres. Extensions to the southwest are indicated by the
results from trenches T15 and T16 as well as soil geochemistry, and extensions
to the northeast of trench T14 are suggested by soil geochemistry. Although the
spacing between trenches T01 to T14 is approximately 500 metres, the structural
mapping and the soil geochemistry suggest the continuity of the mineralized
structures. The mineralization is usually associated with quartz veins and
veinlets, and is hosted by metamorphosed diorite intrusives and sericitised
chlorite schists. The results from the trenches demonstrate that the intervals
with higher grade gold mineralization are often contained within a wider zone of
enhanced gold content (for example, results from T01, T04 and T08 in Table 1).
Even trench T05, which contains no reportable intercepts, yields continuous weak
gold mineralization (0.02 to 0.55 g/t gold) from 136 to 274 metres (excluding a
10 metre gap of no outcrop from 200 - 210 metres).
Resampling of the mineralized zone intercepted in trench T01 yielded higher
values (e.g. 14 metres at 2.06 g/t gold from 216 to 230 metres) as compared to
the results reported in Table 1. However, mechanical chisel sampling into the
mineralized zone intercepted in trench T13 yielded 4.7 metres at 1.83 g/t gold
from 373.3 to 378.0 metres, which is lower than that reported for the base of
trench samples in Table 1. These results confirm the presence of gold
mineralization as identified in Table 1, but also reflect the inhomogeneous
("nugget affect") distribution of the gold within the mineralized zones.
The age and style of mineralization are considered to be similar to that which
supports mining operations on structural controlled, orogenic gold vein systems
in the late Proterozoic Pan-African terrains in north and northeast Africa (e.g.
Sudan) and the Arabian Peninsula. Grade variability along the controlling
structure can be expected in this type of mineralization.
The results of additional soil sampling (873 samples) are also presented on the
Company website. They demonstrate continuity of the gold-in-soil geochemical
anomaly along a strike length of approximately 30 kilometres.
Bibemi License
The Company has initiated the procedures to relinquish 50% of the initial 1,000
square kilometre permit area under the terms of the permit renewal procedure.
The Bibemi License will then cover approximately 500 square kilometres in
northern Cameroon. The License area is underlain by Neoproterozoic
volcano-sedimentary formations that are defined in Chad as the Zalbi Group.
Seasonal artisanal gold workings are active within the license area, and the
Company's activities has encouraged local increase in this activity, which is
currently being contained through collaboration with the local authorities and
allowing small-scale, non-mechanised activity by local inhabitants.
Option and Joint Venture Agreement
Under the terms of an Option and Joint Venture Agreement between the Company and
the Bureau d'Etudes et d'Investigations Geologico-Minieres, Geotechniques et
Geophysiques (BEIG3 SARL) ("BEIG3") a joint venture company has been formed
which is 90% owned and managed by RMC. Transfer of the Bibemi and So'o
properties to the joint venture company was signed into law by HE the Minister
on August 2, 2012. Under the terms of the Joint Venture Agreement, RMC paid
BEIG3 C$45,000 on the transfer of the licenses in August 2012, and a further
C$20,000 on the anniversary of the transfers in August 2013. A final C$20,000
payment is due on or before August 2014.
Quality Control:
The Company follows industry standard quality assurance and quality control
procedures for all samples. The QA/QC program includes the insertion of blanks,
duplicates and certified standards into the sample batches.
Rock samples were prepared under the supervision of Company staff by crushing,
riffle splitting and pulverization at the Company's sample preparation facility
in Garoua to 100 grams of less than 125 micron grain size.
Soil samples were prepared by sieving and riffle splitting at the sample site,
under the supervision of Company staff, to 100 grams of less than 125 micron
grain size.
Prepared samples (approximately 100 grams) were shipped by courier to OMAC
Minerals Laboratories (ISO 17025 accredited), Ireland, where they were all
analysed for gold by fire assay with AAS finish, and selected samples for 33
trace and major elements by ICP-ME.
Qualified Person:
Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person
under National Instrument 43-101 Standards of Disclosure for Mineral Projects of
the Canadian Securities Administrators and a consultant to the Company, approved
the technical disclosure in this release and has verified the data disclosed.
About the Company:
Reservoir Minerals Inc. is an international mineral exploration and development
company run by a experienced technical and management team, with a portfolio of
precious and base metal exploration properties in Europe and Africa. The Company
operates an exploration partnership business model to leverage its expertise
through to discovery.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Reservoir Minerals Inc.
Chris MacIntyre
VP Corporate Development
+1.416.703.0010
www.reservoirminerals.com
Reservoir Minerals Inc. (TSXV:RMC)
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