Gold Project Update
10 Agosto 2009 - 1:00AM
UK Regulatory
TIDMMANA
RNS Number : 1326X
Mano River Resources Inc
10 August 2009
10 August 2009
TSX-V: MNO
AIM: MANA
MINING LICENCE GRANTED FOR NEW LIBERTY GOLD PROJECT IN LIBERIA
Mano River Resources Inc. ("Mano" or the "Company") the TSX Venture Exchange
("TSX-V") and AIM listed exploration to production company focused on gold, iron
ore and diamonds in West Africa is pleased to announce it has been granted by
the Government of Liberia its Class 'A' Mining licence within the Bea Mineral
Development Agreement ("MDA").
Highlights
* Class 'A' 25 year Mining Licence granted on 29 July 2009
* Bankable Feasibility Study for underground mine planned for completion by the
end of 2010
* Up to 10,000m drilling programme planned to assist feasibility study
* Current resource of 1.4 Moz, (NI 43-101) 13.533Mt measured and indicated at 3.18
g/t gold with further potential
Luis da Silva, President & CEO of Mano commented:
"This represents another positive step forward towards commercial production
from Liberia's first ever hard rock gold mine. The support from the Government
of Liberia is evident to achieving the Company's goals and we are now in a
position to undertake the confirmation drilling in advance of completing a
bankable feasibility study in 2010 for an underground mine targeting 100,000oz
pa. We are in the process of finalising a new geological model with a firm of
independent consultants, incorporating the positive drilling results received in
2008 from below 200m, including 23m grading 4.95 g/t and 26m grading 5.04 g/t.
In addition the Company will also be looking to further grow the resource base
on the Bea MDA through advancing exploration of the satellite gold deposits at
Weaju and the Silver Hills and Gondoja prospects, which lie in close proximity
to the New Liberty Gold Project.."
Mineral Title
The Ministry of Lands, Mines and Energy of The Republic of Liberia has, after a
detailed review, granted the Class 'A' Licence whereby, having satisfied all
necessary exploration requirements under the Law, the Company is entitled to
mine in the production area it has selected within the Bea MDA. This production
area reduces the ground holding from 1,000km2 to 457 km2. The 25 year renewable
mining licence became effective on 29 July 2009 and is held through the
Company's 100% owned subsidiary incorporated in Liberia, the Bea Mountain Mining
Corporation.
Confirmation Drilling
Following the review of the geological data by AMC Consultants (UK) Limited
("AMC") in the second half of 2008 whereby the recommendation was for an
underground mining method at the New Liberty gold deposit. AMC was then mandated
in July 2009 to incorporate the new drilling data from 2008's deeper drilling
campaign. The 2008 drilling (holes K115-K130) produced some of the best
intersections achieved to date at the New Liberty gold deposit, as illustrated
in Table 1, below.
Table-1: Ranking of Top 20 Intersections at New Liberty gold deposit
+---------+--------+--------+------+---------+---------+
| Top 20 Intersections |
+------------------------------------------------------+
| Ranking | Hole | From | To | Length | Au |
| | ID | (m) | (m) | (m) | (Mean |
| | | | | | g/t) |
+---------+--------+--------+------+---------+---------+
| 1 | K63 | 55 | 92 | 37 | 8.45 |
+---------+--------+--------+------+---------+---------+
| 2 | K10 | 32 | 82 | 50 | 4.30 |
+---------+--------+--------+------+---------+---------+
| 3 | K13 | 20 | 46 | 26 | 6.20 |
+---------+--------+--------+------+---------+---------+
| 4 | K2 | 24 | 40 | 16 | 8.81 |
+---------+--------+--------+------+---------+---------+
| 5 | K126 | 144 | 170 | 26 | 5.04 |
+---------+--------+--------+------+---------+---------+
| 6 | K96 | 43 | 62 | 19 | 6.76 |
+---------+--------+--------+------+---------+---------+
| 7 | K116 | 210 | 245 | 35 | 3.59 |
+---------+--------+--------+------+---------+---------+
| 8 | K70 | 48 | 100 | 52 | 2.23 |
+---------+--------+--------+------+---------+---------+
| 9 | K115 | 205 | 228 | 23 | 4.95 |
+---------+--------+--------+------+---------+---------+
| 10 | K3 | 36 | 62 | 26 | 4.10 |
+---------+--------+--------+------+---------+---------+
| 11 | K24 | 56 | 78 | 22 | 4.80 |
+---------+--------+--------+------+---------+---------+
| 12 | K47 | 54 | 86 | 32 | 3.29 |
+---------+--------+--------+------+---------+---------+
| 13 | K49 | 47 | 57 | 10 | 10.08 |
+---------+--------+--------+------+---------+---------+
| 14 | K52 | 47 | 61 | 14 | 6.97 |
+---------+--------+--------+------+---------+---------+
| 15 | K14 | 26 | 34 | 8 | 12.10 |
+---------+--------+--------+------+---------+---------+
| 16 | K95 | 10 | 24 | 14 | 6.92 |
+---------+--------+--------+------+---------+---------+
| 17 | K69 | 60 | 74 | 14 | 6.63 |
+---------+--------+--------+------+---------+---------+
| 18 | K98 | 41 | 79 | 38 | 2.40 |
+---------+--------+--------+------+---------+---------+
| 19 | K129 | 223 | 255 | 32 | 2.66 |
+---------+--------+--------+------+---------+---------+
| 20 | K20 | 56.09 | 77 | 20.91 | 3.90 |
+---------+--------+--------+------+---------+---------+
The modelling by AMC will enable the Company to optimally target its next phase
of confirmation drilling. This will consist initially of diamond drill holes
totalling between 8,500m and 10,000m to depths of 300m below surface, to enable
further modelling of the deposit. The Company will also consider drilling
additional holes to -500m towards the end of the drilling campaign. The model
will be 'live', whereby new drilling data will be actively inserted into the
'wireframe' to adapt the ongoing drilling as necessary. Completion of this
drilling is expected by the end of 2009.
ENDS
Qualified Person
Mano's Qualified Person responsible for preparing this release is its former
Director and CEO, Dr Tom Elder, who holds a BSc and Doctorate in Geology from
the University of Durham in the UK, is a Fellow and former Member of Council of
the Institution of Mining and Metallurgy of the UK, and a Fellow of The
Geological Society.
Quality Control and Sample Preparation
Mano has a rigorous Quality Control Program (QCP) inserting a minimum 5% of
standards, blanks and duplicates into the sample stream. The Company employs
independently owned and managed OMAC Laboratories for all its assay
requirements, including the preparation of pulps to 90% -100 micron at their
in-country preparation facilities in Liberia, followed by XRF at their main
laboratory in Loughrea, Ireland.
OMAC is accredited to ISO 17025 by INAB (Irish National Accreditation Board)
which is a member of ILAC (International Laboratory Accreditation Cooperation),
and is a signatory to the ILAC Mutual Recognition Arrangement. OMAC operates an
internal QA/QC check assay programme using in-house standards, reagent blanks
and duplicates.
For further information on Mano River Resources and its exploration programme,
you are invited to visit the Company's website at www.manoriver.com or contact
one of the following:
Mano River Resources Inc.
Luis da Silva, CEOTel: +44 (0) 20 7299 4212
Evolution Securities Limited
Simon Edwards / Chris Sim / Neil ElliotTel: +44 (0) 20 7071 4300
Pelham Public Relations
Charles Vivian / James MacFarlaneTel: +44 (0) 20 7337 1500
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this release.
NOTES TO EDITORS
Drilling programme of 2008
During the first half of 2008, the Company drilled deeper holes in order to
ascertain with confidence the continuity of the ore body at depth. This drilling
consisted of 15 additional holes (identified as K115-K130) totalling 4,485m in
an effort to intersect the structure at approximately -200m and -550m, below
surface. One hole, number 123, was abandoned. Three of the Top 10 intersections
and four of the top 20 intersections resulted from this campaign.
Table-2: Full Results of the 2008 Deep Drilling Campaign - drill collars &
mineralization intervals
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| Hole |Easting |Northing | Depth | | From | To |Length | Au |
| ID | | | | | (m) | (m) | (m) | (Mean |
| | | | | | | | | g/t) |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K115 | 10775 | 9580 | 266 | | 205 | 228 | 23 | 4.95 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K115 | | | | Including | 212 | 224 | 12 | 9.12 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K116 | 10725 | 9600 | 256 | | 210 | 245 | 35 | 3.59 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K116 | | | | Including | 218 | 235 | 17 | 7.03 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K117 | 10825 | 9600 | 251 | | 201 | 211 | 10 | 0.30 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K117 | | | | Including | 204 | 208 | 4 | 0.54 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K118 | 10750 | 9360 | 605 | | 557 | 581 | 24 | 0.36 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K118 | | | | Including | 565 | 568 | 3 | 1.62 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K119 | 10875 | 9605 | 247 | | 169 | 173 | 4 | 0.49 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K119 | | | | and | 227 | 231 | 4 | 0.28 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K120 | 10796 | 9360 | 564 | | 506 | 525 | 19 | 1.18 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K120 | | | | Including | 517 | 520 | 3 | 6.21 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K121 | 10675 | 9603 | 258 | | 173 | 200 | 27 | 0.67 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K121 | | | | Including | 184 | 194 | 10 | 1.45 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K122 | 10925 | 9605 | 241 | | 156 | 161 | 5 | 0.43 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K124 | 11498 | 9551 | 250 | | 148 | 181 | 33 | 1.40 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K124 | | | | Including | 172 | 180 | 8 | 4.85 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K124 | | | | and | 191 | 200 | 9 | 1.45 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K125 | 11558 | 9550 | 250 | | 139 | 145 | 6 | 0.24 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | Including | 155 | 158 | 3 | 0.83 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K126 | 11618 | 9550 | 250 | | 144 | 170 | 26 | 5.04 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | Including | 158 | 170 | 12 | 10.39 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 187 | 193 | 6 | 0.69 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 201 | 207 | 6 | 1.33 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 204 | 206 | 2 | 3.72 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K127 | 11675 | 9550 | 250 | | 136 | 150 | 14 | 2.58 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | Including | 137 | 148 | 11 | 3.18 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 173 | 202 | 29 | 0.41 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 190 | 197 | 7 | 1.01 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K128 | 12260 | 9390 | 256 | | 162 | 163 | 1 | 0.87 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | Including | 174 | 176 | 2 | 0.21 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 179 | 180 | 1 | 0.49 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K129 | 12122 | 9400 | 255 | | 162 | 164 | 2 | 0.25 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 172 | 173 | 1 | 0.26 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 197 | 203 | 6 | 1.44 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | Including | 223 | 255 | 32 | 2.66 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 226 | 245 | 19 | 4.37 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| K130 | 11934 | 9450 | 255 | | 211 | 253 | 42 | 0.33 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | Including | 231 | 237 | 6 | 1.06 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
| | | | | and | 250 | 253 | 3 | 0.99 |
+--------+---------+----------+--------+-----------+--------+--------+--------+-----------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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