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Dec 11, 2012
Manicouagan Minerals Reports Completion of the Initial Drilling Program at Its Cloridorme Aluminous Clay Property
TORONTO, December 11, 2012 - Manicouagan Minerals Inc. (TSXV -- MAM) is pleased to report the successful completion of the initial drilling program on its Cloridorme property located in the Gaspé Peninsula of Quebec.
The objective of the drilling program was to determine the thickness and potential strike length of the aluminous red argillite (mudstone) formation located by surface mapping and sampling in different sectors of the property (see MAM Press Release dated August 2, 2012). A total of 533 metres, in six (6) holes, of core drilling was completed in three sectors of the property (A, B and C). The red and green aluminous mudstones were confirmed in each sector. A surface plan map with drill-hole locations along with cross sections is available on the Company's website via this link: Cloridorme Drill Plan.
In sector A, on the west end of the property, a steeply dipping band of red aluminous mudstone with an estimated true thickness of 78 metres was intersected with boreholes Cl-12-01 and Cl-12-02. Sector A is on strike with Orbite Aluminae's Marin deposit. Both holes are approximately 2.3 km from Orbite's eastern claim boundary. Outcrops of red mudstones were also located and sampled 800 metres on strike west of holes Cl-12-01 and 02.
In sector B, approximately 6.6 km east of sector A, a band of red mudstone with a minimum estimated thickness of 77 metres was intersected with boreholes Cl-12-05 and 06. Only the northern contact, the footwall, of the red mudstone unit was intersected.
In sector C, 2.5 km east of sector B, a 75 metre thick band of red mudstone was intersected with boreholes Cl-12-03 and 04.
All red mudstone units intersected in the drilling are open at depth and along strike and thickness for sector B.
One hundred and forty nine (149) samples have been sent to ALS Minerals for assaying. Assay results for alumina and rare earth elements (REE) are expected in about two to three weeks.
Previous surface sampling of the red mudstones returned alumina values ranging from 20.0% to 22.68% Al2O3.
Manicouagan's CEO, Brian Carter, commented, "We are pleased that the initial results of the drilling program confirm our expectation that the red mudstones could extend for several kilometres and be of significant thickness. The confirmation of the potential of the Cloridorme property adds a second focus to our corporate exploration program, which also includes four gold properties in the Pickle Lake gold belt of Ontario. Future plans for our Brabant Lake zinc property in Saskatchewan, on which we have a NI 43-101 resource, are being reviewed. The Board of Directors is exploring all possible strategic opportunities to grow the company and develop the Company's asset base."
Manicouagan Minerals Inc. is a Canadian based exploration company focused on advancing its aluminous clay property in the Gaspé Peninsula of Quebec, which also contains significant values of REE and its gold projects in the Pickle Lake Gold Belt, Ontario. Manicouagan also has commodity projects including the Brabant Lake Zinc deposit in Saskatchewan, and the Mouchalagane Nickel/Copper/PGE and HPM/Forgues Nickel/Copper/Cobalt projects in Quebec.
Exploration programs on Manicouagan's Cloridorme property are carried out under the supervision of Mr. Claude Britt, P.Geo. Mr. Britt has reviewed and verified the technical content of the information contained in this release and qualifies under the definition of "Qualified Person" set out in National Instrument 43-101.
Additional information about Manicouagan and its exploration projects can be found at www.manicouaganminerals.com.
Une traduction française de ce communiqué de presse est disponible à www.manicouaganminerals.com.
For further information contact:
W. Brian Carter, Chief Executive Officer
Forward Looking Statements
All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
You can view the Next Press Releases item: Fri Dec 21, 2012, Manicouagan Minerals Signs a Letter of Intent to Amalgamate With Flemish Gold Corp.
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