Mengold Resources Inc.

Mengold Resources Inc.

June 07, 2006 09:16 ET

Mengold's Mountain River Drill Program

MONTREAL, QUEBEC--(CCNMatthews - June 7, 2006) - Mengold Resources Inc. (TSX VENTURE:MNI) has completed a previously announced 5-hole drill program on the zinc prospective Mountain River Property near Sainte-Anne-du-Lac, Quebec. Maryse Robidas, the QP for this project stated:

"The results of conventional ICP 34 element assaying of samples prepared at the Lab d'Analyse Bourlamaque Ltee and assayed by ALS Chemex both of Val d'Or, Quebec, indicate the presence of zinc, lead and molybdenum that could explain the zinc Mobile Metal Ion (MMI) anomaly identified by Mengold in 2004. However despite the grades improving with depth they are not sufficient to be economically extractable. The assaying also demonstrates that a chemical substitution of elements has taken place and in particular anomalous grades of Barium, Mangenese, Uranium, Strontium and Scandium could be the result of this process. Additionally, Phosphorous (over 1% in some samples), Titanium (0.74%) and other elements that are not habitually associated with skarn mineralization, which was the geological model proposed for the drilling, are present. All this evidence seems to indicate the presence of a mineralized intrusive in the area."

Following further geological interpretation of the drilling results, Mengold intends to carry out a program of reconnaissance prospecting. Additional claims have been staked which cover an intrusive body approximately 1 km to the south where very little work has been done in the past.

The Qualified Person supervising the work being carried out on the Mountain River Property is Maryse Robidas, a consultant to Mengold Resources Inc., who has reviewed this news release.

Mengold Resources Inc. is engaged in mineral exploration, primarily in eastern Canada. The Company is also exploring the PGM-chrome prospective Thetford Property in the Eastern Townships of Quebec. Mengold recently acquired the Burchell Lake and Goldcreek Properties, both prospective for gold and copper, in the Shebandowan area west of Thunder Bay, Ontario. Mengold has 17,666,537 common shares outstanding (23,166,987 shares fully diluted).

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Mengold Resources Inc.
    In Canada: Douglas G. Reeson
    C.F.O. and Director
    (416) 533-0323
    (416) 533-2890 (FAX)
    Helm Exploration Ltd.
    Joel Scodnick
    President and Chief Executive Officer
    (705) 522-4439
    (705) 522-8694 (FAX)
    Mengold Resources Inc.
    In Europe: W. Ian L. Forrest
    President and Director
    011 41 22 809 9511
    011 41 22 899 9501 (FAX)