Manicouagan Minerals Inc.

Manicouagan Minerals Inc.

December 07, 2006 09:04 ET

Manicouagan Minerals expands Bob platinum/palladium discovery at Mouchalagane and reports on positive channel sampling results

TORONTO, ONTARIO--(CCNMatthews - Dec. 7, 2007) -

Attention Business Editors:

Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today channel sample results from its Mouchalagane property situated approximately 400 kilometres north of Baie Comeau in northern Quebec.

In situ (bedrock) grab samples obtained this summer assayed up to 9.3 grams per tonne palladium, 2.8 grams per tonne platinum and 2.88% nickel (sample no. 43484) at the Bob showing (see Manicouagan Press Release dated
August 23, 2006). Follow-up work completed in September focused on channel sampling the Bob showing as well as the Feu, Dernier Chance and Corbeau showings.

Work done in September on the Bob showing consisted of overburden stripping and channel sampling over an area of approximately 300 square metres. This work exposed the main part of the Bob showing over a cumulative strike length of approximately 60 metres. Forty-one channel samples were obtained over a total cumulative length of 83.3 metres. Individual channel samples ranged between 0.35 metres and 1.3 metres in length and composited intervals ranged between 0.5 metres and 5.4 metres in length. The best sample assay in absolute value terms is channel sample no. 8 which assayed 25.90 grams per tonne palladium, 3.7 grams per tonne platinum, 2.33% copper and 3.21% nickel over 0.5 m.

Other significant assays (channel samples with greater than 10 grams per tonne combined Pt and Pd) are listed in the table below.

Channel Palladium Platinum Cumulative
No. grams/tonne grams/tonne Copper % Nickel % Length (m)
BOB-13 13.75 3.28 0.74 2.44 1.94
BOB-14 10.63 2.59 1.32 1.87 1.80
BOB-26 10.00 0.96 0.65 1.10 2.90
BOB-28B 10.00 0.84 0.12 0.15 1.35
BOB 30 7.19 3.30 1.18 2.69 0.75

Complete results of the channel sampling at the Bob showing are presented in the table found on the Company's website together with an updated property map and detailed geological map of the Bob
showing. Additional channel sample assay results are pending for the Feu, Dernier Chance and Corbeau showings and will be reported once results are available. The Bob showing is directly associated with two, east striking weak third priority short strike length EM conductors which constitute attractive drill targets. Most significantly, a strong first priority east striking, 400 metres long EM conductor is situated just 200 metres south of the Bob showing and a number of other conductors of similar strike length are located within the grid area.

Joseph Baylis, President and Chief Executive Officer of Manicougan Minerals remarked that the Bob discovery on the Mouchalagane property "continues to provide outstanding results. Outcrop stripping and channel sampling have validated previous grab sample results and have significantly expanded the size of the Bob showing. Polymetallic mineral deposits are an extremely attractive exploration target. The Mouchalagane property is a priority exploration project for Manicouagan. Plans are being developed to drill prospective targets as soon as practicable in the late spring of 2007."

Exploration programs at Mouchalagane are carried out under the supervision of Rod Thomas, Vice President - Exploration of the Company. Mr. Thomas, a professional geologist, has reviewed and verified the technical
content of this press release on behalf of Manicouagan Minerals and qualifies under the definition of "Qualified Person" set out in National Instrument 43-101. Analytical services are provided by Activation Laboratories of
Ancaster, Ontario.

Manicouagan Minerals Inc. is a Canadian based exploration company with a diversified portfolio of properties. The Company currently holds four base metal projects located in Quebec and Saskatchewan, on which exploration
programs are ongoing.

Additional information about Manicouagan Minerals and the Company's other projects can be found at

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.

See attached location maps:

%SEDAR: 00017383EF

The TSXV has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The TSXV has neither approved nor disapproved the contents of this news release.

Contact Information

  • Joseph Baylis
    President & Chief Executive Officer
    (416) 542-3980