Oakmont Minerals Corp.
TSX VENTURE : OMK

Oakmont Minerals Corp.

November 18, 2013 15:09 ET

Oakmont Minerals Corp. Announces Results of Sampling and Mapping Program

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 18, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS

Oakmont Minerals Corp. (formerly Oakmont Capital Corp.) (TSX VENTURE:OMK) (the "Company") announces it has carried out a rock sampling and mapping program on its four properties located in Utah held by its wholly-owned subsidiary Utah Manganese Inc., the results of which are reported herein. The Utah Manganese Inc. properties consist of 150 mineral claims totalling 1,250 hectares located 25 to 50 kilometres from Moab, in southeast Utah.

The aim of the sampling program was to identify manganese-mineralized zones on the properties with volume potential to support small to medium-scale extraction and with geochemical characteristics (high manganese, low phosphorous and sulphur) suitable for use in specialty high-strength steel production, either "as extracted" or subsequent to upgrading.

Chip samples of surface exposures and mineralized zones exposed in trenches and underground workings were collected in addition to composite samples from historical mine dumps and stockpiles. In some cases dump samples were screened to reject, generally non-manganese, coarse material. Samples were collected over widths wherever possible in order to assist in volume estimations and to allow reporting of grade over width.

Highlights of the recent sampling program are provided below in Table 1. A wide range of manganese content, from 0.13% to 30.20% and averaging 8.92%, was observed in the suite of samples collected. Sulphur ranged from 0.01% to 0.94%, averaging 0.20% and phosphorus ranged from 0.01% to 0.09%, averaging 0.03%. In general phosphorus levels were low in samples from all four properties, however, sulphur was elevated above 0.10% in most samples collected from all but the Flat Iron property, where it averaged 0.030%.

The Company then selected several samples for sulphur species tests which indicated that the majority of the sulphur occurs as sulphate rather than sulphide.

Due to the lower overall sulphur content in the samples from the Flat Iron property, it is being considered first for upgrading testwork to determine if manganese can be concentrated to greater than 40% while maintaining low phosphorus and sulphur and rejecting silica. The appropriate methodology and scope of this work is currently being determined as well as the economic viability of this work.

Table 1: Utah Manganese Inc. sample locations, descriptions and key geochemical characteristics

Sample UTM NAD83 Z12 Width Mn Si Fe S P C Description
Property
ID Easting Northing feet % % % % % %
292601 Flat Iron 636,566 4,245,526 4 2.04 32.91 12.48 0.01 0.03 0.10 Exposed vein, visual mineralization 4 foot wide chip
292602 Flat Iron
635,515
4,246,585
5
13.71
31.74
1.11
0.03
0.02
0.51
Exposed vein 20 feet behind mine heading A, chip sample of 5 ft mineralized zone
292604 Flat Iron 635,432 4,246,622 3 1.34 32.63 11.88 0.01 0.02 0.58 Exposed vein on strike with mine heading B, 3 ft
292605 Flat Iron 635,429 4,246,676 9 3.72 31.04 1.36 0.04 0.01 2.62 Exposed vein on strike with mine heading A, 9 ft
292608 Flat Iron 635,370 4,246,730 12 9.37 30.80 4.25 0.03 0.02 1.05 Exposed vein on strike with mine heading A, 12 ft
292612 Flat Iron
635,308
4,246,792
4
4.69
32.72
9.86
0.03
0.03
0.32
Exposed vein on strike with mine heading A, 6 foot wide mineralized exposure, 4 ft chip sample
292613 Flat Iron
635,325
4,246,794
3
6.92
37.26
0.34
0.01
0.01
0.55
Exposed vein splaying from the main vein system making up mine heading A, 3 ft chip sample
292614 Flat Iron
635,523
4,246,574
5
14.17
33.38
0.55
0.03
0.01
0.11
Taken from unmined mineralization in floor of Mine Heading A. 5 ft chip across floor
292616 Flat Iron 635,520
4,246,578
13
11.81
33.19
3.38
0.05
0.01
0.14
3 horizontal chip samples taken from heading A in equal intervals, 13 ft chip sample
292620 Flat Iron
635,514
4,246,554
4
3.27
40.20
1.47
0.06
0.01
0.17
Mine Heading B, 4 ft horizontal chip sample taken across mined heading.
292621 Flat Iron 635,600
4,246,524
4
8.02
34.22
2.09
0.03
0.01
0.73
Prospected vein 250+ feet south of and on strike with Mine Heading A, 4 ft chip sample
292622 Flat Iron 635,546 4,246,520 4 0.13 30.48 17.60 0.06 0.02 0.37 poorely exposed vein 100+ft south of Heading B, 4
292623 Flat Iron 636,477 4,247,084 5 8.21 31.83 6.76 0.05 0.01 0.23 Vein exposed on edge of canyon, 5 ft chip sample
292624 Flat Iron 636,714 4,246,866 2.5 13.20 27.91 0.55 0.01 0.01 1.33 Vein exposed in road cut, 2.5 ft chip sample.
292625 Moab Fault 611,864 4,284,116 6 18.20 6.96 1.78 0.94 0.01 8.50 Composite chip sample over 6 ft
292626 Dubinky East 596,746 4,284,635 2 6.82 23.42 0.52 0.36 0.02 3.73 chip sample from shallow trench over 2 ft
292627 Dubinky East
596,743
4,284,641
1.3
7.29
22.34
0.40
0.15
0.03
4.25
taken 20 feet north of sample 292626 in same shallow trench, chip sample over 1.3 ft
292628 Dubinky East 596,747 4,284,638 15.14 16.55 0.38 0.51 0.03 4.05 Screened samples from surface dumps
292629 Dubinky East 596,743 4,284,621 11.00 18.70 0.48 0.41 0.03 4.15 Screened samples from surface dumps
292630 Dubinky West 596,352 4,284,592 23 7.01 26.69 0.87 0.23 0.07 2.46 Dump composite
292633 Dubinky West 596,362 4,284,580 20 3.79 28.51 1.37 0.09 0.09 2.16 Dump composite
292636 Dubinky West 596,373 4,284,576 21 6.37 26.60 0.93 0.34 0.05 2.62 Dump composite
292637 Dubinky West 596,355 4,284,572 25 3.23 29.50 1.11 0.08 0.07 2.38 Dump composite
292640 Dubinky West 596,338 4,284,568 22 7.82 26.78 0.97 0.21 0.07 2.35 Dump composite
292642 Dubinky West 596,329 4,284,568 18 6.00 25.76 1.11 0.24 0.05 2.91 Dump composite
262643 Dubinky West 596,325 4,284,582 15 17.66 17.34 0.69 0.46 0.05 2.99 Dump composite
292645 Dubinky West 596,313 4,284,587 22 9.56 25.43 0.72 0.30 0.06 2.49 Dump composite
292647 Dubinky West 596,315 4,284,586 14.10 20.99 0.52 0.41 0.04 2.85 Screened dump composite
292648 Duma Point South 589,181 4,293,301 4.08 14.44 0.61 0.13 0.04 6.75 Mineraliized stockpile
292649 Duma Point South 589,058 4,293,311 0.5 30.20 3.62 0.26 0.90 0.01 1.65 chip sample from underground seam - 0.5 ft
292650 Duma Point South 588,961 4,293,333 1.5 12.89 27.91 0.86 0.16 0.04 1.17 1.5 ft exposed outcrop
292651 Duma Point South 588,074 4,292,833 3 17.66 18.98 1.39 0.45 0.05 2.17 Chip sample from inside adit, 3 ft
292652 Duma Point South 588,092 4,292,858 1.66 13.51 24.73 0.91 0.16 0.07 1.73 Chip sample from outside adit, 1.66 ft
292653 Dubinky West 596,342 4,284,569 9.49 24.77 0.61 0.29 0.04 3.00 Composite of dump material - screened
292654 Dubinky West 596,360 4,284,582 10.15 23.09 0.67 0.58 0.04 3.01 Composite dump material - screened
292656 Dubinky West 596,295 4,284,580 3.33 5.32 30.80 0.94 0.25 0.05 1.57 Unmined outcrop western part of large mine
292657 Dubinky West 596,345 4,284,583 7.25 2.24 31.41 1.29 0.14 0.06 1.95 Unmined outcrop in central part of "dubinky west",
292658 Flat iron 635,528 4,246,564 11.38 32.53 2.84 0.02 0.01 0.42 Composite dump material - screened
292661 Flat Iron 635,538 4,246,563 4.63 38.98 0.97 0.01 0.02 0.13 Composite dump material - screened
292664 Flat Iron 635,538 4,246,567 6.30 37.68 2.65 0.01 0.01 0.22 Composite dump material - screened
292668 Flat Iron 635,520 4,246,554 5.85 37.63 3.23 0.00 0.01 0.09 Composite dump material - screened
292670 Flat Iron 635,522 4,246,549 6.47 36.37 4.11 0.01 0.01 0.20 Composite dump material - screened

The Utah Manganese Properties are located within the northern Pennsylvanian to Cretaceous Paradox Basin. The northern Paradox Basin consists of a series of approximately parallel northwest-southeast trending faults, anticlines, and synclines. Manganese oxide mineralization occurs as lens-like stratabound replacement bodies and associated manganese nodules of variable thickness and strike extent (Duma Point and Dubinky Well properties); or as fault gouge hosted lenses (Moab Fault Property) and brittle fault hosted vein-fracture infill (Flat Iron Property). Strata-bound bodies often occur proximal to or may partially-completely replace thin limestone or sandy limestone beds, of the Middle Jurassic Summerville-Tidwell interval. Manganese deposits of the "Little Grand District" were exploited between 1901 and 1940.

The Company followed industry standard procedures for the work carried out on the Utah Manganese Inc. properties. One blank and one standard sample were analyzed for quality assurance/quality control (QA/QC) purposes in addition to the QA/QC protocols followed by the laboratory. The Company detected no significant QA/QC issues during review of the data.

Samples were prepared at ALS Minerals in Sparks, Nevada and analyses of the samples were performed by ALS Minerals in North Vancouver, British Columbia, an internationally recognized analytical services provider. Samples were analyzed by XRF/Fusion, reported oxides converted to elements, and C was determined by Leco Analyzer. The technical information contained in this release has been prepared and reviewed by Dr. David A. Terry, P.Geo., director and Technical Advisor to Oakmont, and a Qualified Person as defined in National Instrument 43-101.

About the Company

The Company is a natural resource company engaged in the acquisition, exploration and development of mineral properties, with its primary focus on manganese properties in Utah.

ON BEHALF OF THE BOARD

OAKMONT MINERALS CORP.

Fraser Atkinson, Chief Executive Officer, Chairman and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

Contact Information

  • Oakmont Minerals Corp.
    Fraser Atkinson
    604.220.8048
    604.683.2965 (FAX)