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
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."
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.
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".