SOURCE: La Mancha Resources

La Mancha Resources

June 11, 2012 09:05 ET

New Drill Results at La Mancha's Ity Mine Indicate That Mineralization Extends Well Beyond Current Pit Shell

PARIS--(Marketwire - Jun 11, 2012) - La Mancha Resources Inc. (TSX: LMA)

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". For more information, visit the Company's website at www.lamancha.ca.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains certain "forward-looking statements", including but not limited to statements regarding the quantity of mineralization in place and its grade in Au, the mineable character of the drill results, mining exploration risks, calculation and evolution of mineral resources, the economic viability, the future value of La Mancha's exploration properties, future work programs and objectives associated therewith, drill targets and anticipated results, interpretation of work results, development plans and anticipated timetables, in particular as regards the economic and technical potential for a mining and milling operation. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks associated with foreign operations, environmental risks and hazards, uncertainty as to calculation of mineral reserves and other risks referred to in La Mancha's 2011 Annual Information Form filed with the Securities Commissions and the Toronto Stock Exchange.

Table 1: DD results at Mount Ity

Drill hole Depth (m) Interval Width (m) Grade
(Au g/t)
From (m) To (m)
S508 76.3 26.2 28.2 2.0 1.59
76.3 40.3 52.1 11.8 2.76
S509 118.4 19.0 22.6 3.6 2.48
118.4 27.7 28.2 0.5 0.93
118.4 48.9 50.3 1.4 0.75
118.4 54.1 59.7 5.6 8.43
118.4 67.0 76.5 9.5 3.85
118.4 79.1 79.7 0.6 0.57
S510 61.0 0.0 2.3 2.3 0.70
61.0 9.0 19.5 10.5 3.48
S511 44.8 0.0 0.3 0.3 1.68
44.8 4.6 5.6 1.0 0.74
44.8 12.2 13.8 1.6 0.52
S512 80.6 26.1 27.0 0.9 1.40
S513 80.9 0.3 7.3 7.0 11.85
80.9 9.8 13.3 3.5 4.45
80.9 19.3 20.8 1.5 3.76
S514 143.9 5.0 10.0 5.0 0.62
143.9 14.1 15.0 0.9 1.54
143.9 25.0 26.0 1.0 0.50
143.9 43.2 88.1 44.9 7.54
143.9 91.9 93.0 1.1 0.66
143.9 97.0 98.0 1.0 0.79
S515 117.1 0.9 3.5 2.6 1.71
117.1 36.2 49.2 13.0 3.42
117.1 56.6 71.2 14.6 2.19
117.1 74.0 75.3 1.3 0.80
117.1 82.0 82.7 0.7 2.41
117.1 84.8 86.1 1.3 0.53
S516 179.9 22.9 41.6 18.7 1.78
179.9 49.0 50.5 1.5 1.67
179.9 53.2 54.5 1.3 0.65
179.9 61.0 74.7 13.7 0.95
179.9 82.0 83.0 1.0 0.66
179.9 85.3 86.3 1.0 0.55
179.9 102.0 114.0 12.0 1.76
179.9 119.3 124.0 4.7 4.48
179.9 127.0 129.0 2.0 0.61
179.9 142.0 142.6 0.6 6.43
S517 90.1 6.3 7.0 0.7 0.78

Table 1: DD results at Mount Ity (cont.)

Drill hole Depth (m) Interval Width (m) Grade
(Au g/t)
From (m) To (m)
S519 174.0 19.0 23.3 4.3 1.05
174.0 28.3 31.0 2.7 0.69
174.0 36.0 38.4 2.4 0.76
174.0 46.2 52.9 6.7 0.58
174.0 55.6 57.0 1.4 1.24
174.0 70.3 70.4 0.1 0.61
174.0 76.9 80.0 3.1 2.11
174.0 83.1 87.4 4.3 6.11
174.0 89.9 93.6 3.7 0.77
174.0 106.0 107.1 1.1 0.86
174.0 120.8 122.0 1.2 0.81
174.0 130.8 133.0 2.2 1.12
174.0 142.0 144.7 2.7 0.72
S520 110.9 14.0 14.7 0.7 0.62
110.9 19.1 21.8 2.7 1.01
110.9 31.6 32.5 0.9 3.68
110.9 35.8 36.7 0.9 4.30
110.9 38.9 39.4 0.5 0.52
110.9 60.8 71.1 10.3 1.26
110.9 78.7 81.6 2.9 0.65
S521 183.1 19.1 21.3 2.2 17.19
183.1 41.6 45.7 4.1 0.58
183.1 50.6 66.5 15.9 1.87
183.1 72.9 74.3 1.4 1.11
183.1 76.4 80.8 4.4 12.40
S522 112.3 0.0 13.9 13.9 4.15
112.3 23.0 24.0 1.0 1.94
112.3 32.0 35.7 3.7 9.21

Table 1: DD results at Mount Ity (cont.)

Drill hole Depth (m) Interval Width (m) Grade
(Au g/t)
From (m) To (m)
S523 193.5 0.0 4.7 4.7 0.95
193.5 8.3 10.3 2.0 1.01
193.5 14.9 16.9 2.0 0.93
193.5 25.0 26.0 1.0 0.71
193.5 32.0 33.0 1.0 0.76
193.5 36.0 37.0 1.0 0.88
193.5 48.5 49.5 1.0 1.09
193.5 59.5 61.5 2.0 0.71
193.5 67.5 72.5 5.0 0.51
193.5 76.5 77.5 1.0 0.57
193.5 86.5 87.5 1.0 0.73
193.5 95.3 97.0 1.7 1.15
193.5 101.1 102.2 1.1 1.20
193.5 104.2 105.8 1.6 1.33
S524 141.1 0.0 1.7 1.7 0.91
141.1 6.0 7.0 1.0 0.51
141.1 19.3 21.3 2.0 0.65
141.1 34.0 38.6 4.6 0.57
141.1 46.6 47.6 1.0 3.08
141.1 53.0 54.0 1.0 1.00
141.1 60.0 63.0 3.0 1.73
141.1 65.6 66.8 1.2 1.18
141.1 82.0 83.2 1.2 0.52
141.1 85.6 100.3 14.7 6.39
141.1 103.6 106.0 2.4 1.72
141.1 118.0 119.0 1.0 0.66
141.1 133.0 135.0 2.0 0.83
S525 228.0 2.0 4.9 2.9 0.80
228.0 34.0 35.0 1.0 0.82
228.0 70.0 71.0 1.0 0.52
228.0 75.0 76.0 1.0 0.91
228.0 104.0 105.0 1.0 0.53

True width ranges from 50 to 100% of the interval width.

Table 2: Mount Ity RC results in the SW extension

Drill hole Depth (m) Interval Width (m) Grade
(Au g/t)
From (m) To (m)
I369 24.0 0.0 3.0 3.0 0.60
24.0 8.0 19.0 11.0 1.01
I370 27.0 0.0 3.0 3.0 0.98
27.0 8.0 12.0 4.0 0.61
27.0 19.0 24.0 5.0 0.86
I371 27.0 0.0 19.0 19.0 0.72
I372 39.0 1.0 16.0 15.0 0.98
I373 36.0 0.0 17.0 17.0 0.91
36.0 23.0 27.0 4.0 0.86
I374 38.0 0.0 4.0 4.0 0.58
38.0 8.0 19.0 11.0 0.65
I375 30.0 0.0 8.0 8.0 0.63
30.0 13.0 24.0 11.0 0.61
I376 29.0 1.0 2.0 1.0 0.78
29.0 8.0 11.0 3.0 1.02
29.0 19.0 23.0 4.0 0.84
I377 29.0 0.0 7.0 7.0 0.62
29.0 11.0 19.0 8.0 0.82
I378 32.0 11.0 17.0 6.0 0.94
I379 29.0 1.0 7.0 6.0 0.70
29.0 12.0 22.0 10.0 0.87
I380 29.0 0.0 15.0 15.0 1.10
I381 42.0 2.0 9.0 7.0 0.72
42.0 13.0 16.0 3.0 0.50
I382 41.0 0.0 2.0 2.0 0.80
41.0 6.0 12.0 6.0 0.72
41.0 21.0 22.0 1.0 0.64
I383 45.0 2.0 10.0 8.0 0.61
I385 23.0 1.0 2.0 1.0 0.54
23.0 8.0 15.0 7.0 0.99
I386 24.0 6.0 16.0 10.0 1.13
I387 38.0 2.0 18.0 16.0 1.31
I388 27.0 11.0 17.0 6.0 0.99
I389 39.0 0.0 3.0 3.0 0.61
39.0 6.0 32.0 26.0 1.30
I390 27.0 0.0 15.0 15.0 1.62
I391 33.0 2.0 10.0 8.0 0.82
33.0 14.0 16.0 2.0 0.65

Table 2: Mount Ity RC results in the SW extension (cont.)

Drill hole Depth (m) Interval Width (m) Grade
(Au g/t)
From (m) To (m)
I392 39.0 0.0 23.0 23.0 2.03
I393 46.0 1.0 8.0 7.0 2.34
I394 29.0 0.0 1.0 1.0 0.54
29.0 5.0 11.0 6.0 0.78
I395 21.0 0.0 1.0 1.0 0.86
21.0 4.0 14.0 10.0 2.47
I396 44.0 3.0 12.0 9.0 2.10
44.0 29.0 30.0 1.0 0.58
44.0 36.0 37.0 1.0 0.57
I397 55.0 0.0 6.0 6.0 1.41
55.0 36.0 41.0 5.0 0.86
55.0 46.0 49.0 3.0 0.99
55.0 52.0 53.0 1.0 0.57
I398 60.0 1.0 7.0 6.0 0.76
60.0 11.0 12.0 1.0 1.77
I399 35.0 2.0 6.0 4.0 0.62
35.0 16.0 18.0 2.0 0.62
35.0 22.0 23.0 1.0 4.63
I405 15.0 0.0 1.0 1.0 0.55
I409 29.0 0.0 3.0 3.0 0.83
29.0 7.0 15.0 8.0 1.00
I410 56.0 0.0 35.0 35.0 1.11
56.0 46.0 50.0 4.0 1.16
I411 33.0 1.0 11.0 10.0 0.56
33.0 14.0 19.0 5.0 1.30
33.0 26.0 27.0 1.0 0.65
I412 45.0 3.0 6.0 3.0 1.07
45.0 9.0 11.0 2.0 0.91
45.0 43.0 44.0 1.0 4.49
I413 51.0 12.0 13.0 1.0 0.65
I414 26.0 1.0 3.0 2.0 0.91
I415 78.0 8.0 13.0 5.0 0.78
78.0 28.0 29.0 1.0 0.55
78.0 34.0 38.0 4.0 0.65
78.0 42.0 44.0 2.0 0.87
78.0 51.0 63.0 12.0 2.29
I416 30.0 9.0 10.0 1.0 4.14
I418 36.0 9.0 12.0 3.0 2.32
I419 9.0 0.0 9.0 9.0 0.68

Table 2: Mount Ity RC results in the SW extension (cont.)

Drill hole Depth (m) Interval Width (m) Grade
(Au g/t)
From (m) To (m)
I420 9.0 0.0 9.0 9.0 0.52
I421 9.0 0.0 3.0 3.0 0.79
I422 12.0 0.0 9.0 9.0 0.89
I423 15.0 10.0 12.0 2.0 0.67
I424 15.0 0.0 2.0 2.0 1.17
I425 12.0 0.0 10.0 10.0 1.82
I426 9.0 0.0 2.0 2.0 0.98
9.0 7.0 8.0 1.0 0.90
I427 9.0 0.0 3.0 3.0 1.45
I428 9.0 1.0 4.0 3.0 1.36
I429 9.0 0.0 4.0 4.0 1.30
I430 9.0 0.0 2.0 2.0 0.95
9.0 6.0 8.0 2.0 1.16
I431 9.0 1.0 2.0 1.0 0.70
I432 12.0 0.0 2.0 2.0 0.84
I433 33.0 14.0 16.0 2.0 0.59
33.0 19.0 32.0 13.0 0.96
I434 42.0 9.0 10.0 1.0 0.78
42.0 17.0 26.0 9.0 1.66
42.0 33.0 36.0 3.0 0.68
I435 18.0 2.0 6.0 4.0 0.55
I437 15.0 9.0 12.0 3.0 0.68
I438 18.0 3.0 4.0 1.0 0.51
18.0 10.0 11.0 1.0 0.50
I439 9.0 3.0 5.0 2.0 0.64
I440 12.0 10.0 11.0 1.0 0.53
I442 12.0 0.0 6.0 6.0 1.97
12.0 11.0 12.0 1.0 0.73
I443 15.0 0.0 11.0 11.0 0.59
I444 9.0 1.0 7.0 6.0 0.71
I445 12.0 2.0 7.0 5.0 0.74
I446 9.0 0.0 3.0 3.0 1.64
I450 15.0 7.0 9.0 2.0 1.17
I451 12.0 4.0 5.0 1.0 0.50
I454 9.0 7.0 8.0 1.0 1.36
I455 21.0 9.0 10.0 1.0 0.70
I456 18.0 1.0 5.0 4.0 0.62
I457 9.0 2.0 6.0 4.0 0.59
I458 15.0 3.0 5.0 2.0 0.74
15.0 8.0 9.0 1.0 1.94

Table 2: Mount Ity RC results in the SW extension (cont.)

Drill hole Depth (m) Interval Width (m) Grade
(Au g/t)
From (m) To (m)
I459 18.0 0.0 8.0 8.0 0.84
18.0 11.0 15.0 4.0 0.51
I463 21.0 14.0 15.0 1.0 0.84
I464 15.0 7.0 11.0 4.0 0.84
I466 24.0 18.0 19.0 1.0 6.47
I469 12.0 8.0 9.0 1.0 0.90
I470 12.0 3.0 4.0 1.0 0.60
I471 12.0 8.0 12.0 4.0 0.72
I475 9.0 4.0 5.0 1.0 2.60
I480 9.0 5.0 6.0 1.0 0.69
I486 21.0 1.0 2.0 1.0 0.73
21.0 18.0 19.0 1.0 1.12
I487 12.0 2.0 3.0 1.0 0.61
I488 21.0 0.0 1.0 1.0 0.79
I490 60.0 5.0 6.0 1.0 0.56

True width is approximately 100% of the interval width.

Figure 1: Schematic Map of the Mount Ity Exploration Program
(Please see picture in attachment)

Figure 2: Cross-section 4
(Please see picture in attachment)

Figure 3: Cross-section 10
(Please see picture in attachment)

MINERALIZATION AT LA MANCHA'S ITY MINE EXTENDS: http://hugin.info/145163/R/1618748/516902.pdf

Contact Information

  • For additional information, please contact:
    La Mancha

    Martin Amyot
    Vice President Corporate Development
    Tel: (514) 987-5115, Ext. 25
    Email: info@lamancha.ca

    Nicole Blanchard
    Investor Relations
    Tel: (514) 987-5115 Ext. 26
    Email: nblanchard@lamancha.ca