NEW DRILL RESULTS AT LA MANCHA'S
ITY MINE INDICATE THAT
MINERALIZATION EXTENDS WELL beyond CURRENT PIT
shell
BEST INTERSECTIONS
INCLUDE:
West Extension below the pit
-
44.9 m @ 7.54 g/t from 43.2 m, which includes 24.6 m @ 11.52 g/t outside current resource
-
14.7 m @ 6.39 g/t from 85.6 m, all outside the current resource
-
5.6 m @ 8.43 g/t from 54.0 m, all outside the current resource
Southwest Lateritic extension
-
35.0 m @ 1.11 g/t from surface
-
23.0 m @ 2.03 g/t from surface
HIGHLIGHTS:
-
New drill results indicate that mineralization extends well below the current Mount Ity pit shell
-
New drill results also indicate a southwest lateritic extension at the Mount Ity pit
-
Results for the second half of the drilling campaign should be received during the third quarter
-
An updated geological model and resource update are expected in the third quarter
-
An upgraded mine plan and reserve update are expected by year-end
Dominique Delorme, President and CEO
of La Mancha, stated that: "We are thrilled with these results as they confirm
the robust nature of the Mount Ity deposit and its potential for significant
growth. In light of the discovery of the new west extension zone directly below
the current resource envelope, our goal is now to grow Ity's resource by more
than 300,000 ounces to over 1 million ounces of gold by year-end. Furthermore,
we expect to be able to easily integrate this extension zone into the new mine
plan with a pit cutback."
La Mancha Resources
Inc. (TSX: LMA,
hereinafter "La Mancha" or "the Company") is pleased to report positive drill
results for the ongoing exploration program at its Ity mine, located in the
western part of Côte d'Ivoire. Results suggest that the mineralization extends
both at depth well below the Mount Ity pit and along strike in the southwest
direction.
Approximately half of the exploration
campaign had been completed as of May 31, 2012, representing a total of 7,955
metres drilled. All the drill results received to date are shown in Tables 1 and
2 of the appendix.
West Extension below the
pit
As shown in Figure 1, diamond
drilling (DD) has been done from the floor of the Mount Ity pit and on its west
slope to test the extension of the known mineralization at depth and to the
west. Various long high-grade intercepts, shown in Figures 2 and 3, suggest the
presence of a thick mineralized zone extending well beyond the current resource
envelope. The drilling has returned intersections of up to 7.54 g/t Au over 43.1
m, of which 24.6 m at 11.52 g/t Au are outside the current resource envelope.
Furthermore, hole 526 (see Figure 2), for which results are still pending, shows
similar characteristics, suggesting that this mineralized layer is significant
in size.
This mineralization is mainly found
in hydrothermal argillic brecchias with local sulphide pockets, and is
characterized by evidence of karstification superimposed on hydrothermal
alteration in this area, which explains the locally high average grade.
Southwest Lateritic
extension
An added benefit of the drilling
campaign is the discovery of surface laterite mineralization in the southwest
part of the pit (see Figure 1, attached). As shown in Table 2, a large number of
the drill holes were mineralized in laterite averaging 10 m thick and grading as
high as 6.47 g/t Au.
Jean-Jacques Kachrillo,
Vice President Exploration of La Mancha, noted that: "To optimize heap leach
recovery of gold from the rich saprolite ore, we have to use it with laterite
material. This large near-surface mineralized laterite zone, although low in
grade, should therefore have a positive impact on the cost structure going
forward."
NEXT STEPS
The drilling program currently
underway should be reinforced by the arrival of a second rig by mid-June. The
initial set of holes targeting the West Extension below the pit should be
completed during the third quarter. A new geological model and resource estimate
for the Mount Ity pit should be finished by the end of the third quarter, and
will feed into the revision of the mining plan.
Subject to the results, further
exploration drilling may be done in the West and Southwest areas of the Mount
Ity pit.
Drilling is also expected to take
place at Zia North to explore the western extension of this area, and an infill
drilling program is expected to be carried out at the Walter anomaly and the Ity
Extension-Tontouo zone to upgrade and increase the present resources.
TECHNICAL NOTE
This press release was reviewed and
prepared under the supervision of Jean-Jacques Kachrillo, Vice President
Exploration of La Mancha Resources. By reason of his education, affiliation with
a professional association (as defined in NI 43-101) and past relevant work
experience, Mr. Kachrillo is a "qualified person" for the purposes of NI 43-101.
Mr. Kachrillo has read National Instrument 43-101 and has ensured that this
press release has been written in compliance with that instrument. He has read
and approved the content of this press release, and has consented to publish the
press release in the form and context in which it appears.
The analysis of these recent samples
met with all aspects of the Analytical Quality Assurance Program put in place by
La Mancha to control and assure the analytical quality of assays in its gold
exploration. This program includes the systematic addition of blank samples,
pulp duplicates and internal material references ("standards") to each batch of
samples sent for analysis. Blank samples are used to check for possible
contamination in the laboratory, duplicates allow the overall precision to be
quantified, and standards determine the analytical accuracy. All samples are
half HQ or PQ diamond drill core sampled on a one-metre basis. Samples were
assayed for gold by fire assay on a 30g sample followed by AAS, at the Bureau
Veritas Mineral Laboratories in Abidjan.
ABOUT THE ITY MINE:
La Mancha owns a 45.9% interest in
the Ity mine, located in the Zouan Hounien region, in western Côte d'Ivoire.
Inaugurated in 1991, the mine has produced over 0.8 million ounces of gold to
date, mostly from gold-rich laterites and saprolites from the Flotouo-Zia
deposit. In 2008, production shifted to the Mount Ity pit. As shown in Figure 1,
the Ity mine is a mining complex composed of the Mount Ity, Northeast Zia,
Tontouo, Extension Flat, Walter and Gbeitouo deposits.
ABOUT LA MANCHA RESOURCES
Inc.:
La Mancha Resources Inc.
is an international gold
producer based in Canada with operations, development projects and exploration
activities in Africa, Australia and Argentina. La Mancha's shares trade on the
Toronto Stock Exchange (TSX) under the symbol "LMA".
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