Petaquilla Minerals Ltd.
TSX : PTQ
OTC Bulletin Board : PTQMF
FRANKFURT : P7Z

Petaquilla Minerals Ltd.

January 19, 2006 16:55 ET

Petaquilla Minerals Ltd.: Trenching Outlines a 200-Meter Strike Length of High-Grade Gold Mineralization

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2006) - Petaquilla Minerals Ltd. ("PTQ" or the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FWB:P7Z) is pleased to announce that a 200-meter strike length of high-grade gold mineralization in the Central Zone was delineated during a follow-up trenching program on the Company's advanced stage epithermal Molejon gold deposit in Panama.

The program was initiated to test the surface gold mineralization encountered within the Central and Main Zones in August of 2005 (See Petaquilla Press Release, August 4, 2005: Molejon Trenching Continues to Encounter High Grade Gold).

4,480 meters of follow-up trenching was completed, incorporating 2,390 samples. The trench results indicate that the Central Zone surface footprint is much larger than was modeled for the recently released 43-101 resource calculation for the Molejon Deposit (See Petaquilla Press Release, October 26, 2005: Petaquilla Increases Molejon Gold Resource Estimate to 893,000 Ounces), and the high-grade gold mineralization is more extensive than previously believed.

Central Zone

The Central Zone was tested with an additional 26 trenches. The zone consists of quartz breccia, pervasive silica alteration, and quartz stockwork, hosted in a feldspar porphyry intrusive or andesite. The trenches delineated the Central Zone across a 400 meters strike length, which included a 200-meter strike length of high-grade mineralization. (Lines 2+50 North through to 4+50 North). The zone is open along strike (Line 1+50) but with lower grade intersections (TR-015 - 17.00 meters @ 0.63 gr/t Au).

High Grade Central Zone Mineralization:



---------------------------------------------------------------------
Composite
Section Trench Interval Length of
Trench Line Length (meters) Composite with Gold Assay
---------------------------------------------------------------------
TR-021 2+50N 48.50 0.00 to 18.00 18.00 meters @ 5.16 gr/t Au
---------------------------------------------------------------------
2+50N 66.50 3.00 to 61.50 58.50 meters @ 5.18 gr/t Au
TR-023 to -------------------------------------------------------
3+00N including 3.00 to 15.00 12.00 meters @ 19.33 gr/t Au
---------------------------------------------------------------------
TR-026 3+00N 24.00 0.00 to 24.00 24.00 meters @ 4.06 gr/t Au
---------------------------------------------------------------------
133.50 66.00 to 133.50 67.50 meters @ 3.83 gr/t Au
TR-027 3+25N -------------------------------------------------------
including 73.00 to 84.00 10.50 meters @ 7.17 gr/t Au
---------------------------------------------------------------------
TR-032 3+00N 172.50 0.00 to 12.00 12.00 meters @ 6.74 gr/t Au
to
4+00N
---------------------------------------------------------------------
35.40 0.00 to 35.40 35.40 meters @ 3.92 gr/t Au
TR-033 3+50N -------------------------------------------------------
including 0.00 to 4.50 4.50 meters @ 19.08 gr/t Au
---------------------------------------------------------------------
3+25N 108.20 0.00 to 55.50 55.50 meters @ 5.75 gr/t Au
TR-035 to -------------------------------------------------------
3+50N including 39.00 to 43.50 4.50 meters @ 12.76 gr/t Au
---------------------------------------------------------------------
72.50 000 to 69.00 69.00 meters @ 7.11 gr/t Au
TR-037 3+75N -------------------------------------------------------
including 27.00 to 51.00 24.00 meters @ 15.48 gr/t Au
---------------------------------------------------------------------
4+00N 46.80 0.00 to 46.80 46.80 meters @ 3.66 gr/t Au
TR-038 to -------------------------------------------------------
4+25N including 18.00 to 30.00 12.00 meters @ 9.48 gr/t Au
---------------------------------------------------------------------
75.50 3.00 to 75.50 72.50 meters @ 1.99 gr/t Au
TR-046 4+50N -------------------------------------------------------
including 24.00 to 30.00 6.00 meters @ 5.17 gr/t Au
---------------------------------------------------------------------


Main Zone

The Main Zone was tested with 16 additional trenches, and encountered quartz breccia and/or pervasive silica alteration from Lines 0+00N to 6+00N. The trenching confirms the theory the zone is striking parallel to the main ridge on the property and it is orientated so its dip slope trends down the slope surface of the ridge. Trench composite lengths do not reflect the true width of the zone, but the assay composites are a reflection of mineralization continuity. The zone is the lowest grade target on the property with assay composites ranging from 0.500 to 1.5 gr/t gold.

TR-016 exposed gold mineralization on the backside of the Main Ridge (35.0 meters @ 0.93 gr/t Gold). A possible explanation for this unexpected intersection is that the Main zone has secondary zones of mineralization that splay off into the footwall. Additional work will be required to determine the source and size of the mineralization.

New Mineralization

Three trenches were dug in a gold geochemical anomaly located to the north of the Central Zone, and to the east of the Northwest Zone. Results from two of the three trenches have been received (TR-051 - 15.0 meters @ 3.28 gr/t Au and TR-053 6.0 meters @ 2.27 gr/t Au). The trenches run parallel to each other (150 meters apart) trending in a northeast direction. Additional trenching will be required, but these initial results suggest there is potential, within the immediate area of the deposit to expand the resource model.

Northwest Zone

Two additional trenches (TR-014 - 42.40 meters @ 0.56 gr/t Au) and (TR-050 - 15.00 meters 3.45 gr/t Au) were competed on the Northwest Zone. The trench intersections will add to the mineralization model for the Northwest Zone.

A detailed table of the complete trench results is listed below.



Detailed Trench Results

---------------------------------------------------------------------
Inter-
Line Trench From To val Gold (gr/t) Zone
---------------------------------------------------------------------
9675
to
9725 TR-014 20.00 62.50 42.50 0.56 Northwest
---------------------------------------------------------------------
27.50 34.00 6.50 1.20
1+50N TR-015 ----------------------------------------- Central
55.00 72.00 17.00 0.63
---------------------------------------------------------------------
1+50N TR-016 42.20 77.20 35.00 0.93 Main
---------------------------------------------------------------------
0.00 18.00 18.00 1.63
2+50N TR-017 ----------------------------------------- Central
42.00 52.00 10.00 0.92
---------------------------------------------------------------------
5+50N TR-018 2.00 52.00 50.00 1.30 Main
---------------------------------------------------------------------
6+00N TR-019 0.00 52.30 52.30 One high background Main
gold zone with
highest assay result
0.850 gr/t Au over
1.5 meters
---------------------------------------------------------------------
TR-020 9.00 45.00 36.00 0.57
2+75N --------------------------------------------------- Central
including 27.00 37.50 10.50 1.04
---------------------------------------------------------------------
0.00 18.00 18.00 5.16
2+50N TR-021 ----------------------------------------- Central
31.50 42.00 10.50 3.44
---------------------------------------------------------------------
2+75N TR-022 9.00 16.50 7.50 1.13 Central
---------------------------------------------------------------------
2+75 TR-023 3.00 61.50 58.50 5.18
to --------------------------------------------------- Central
3+00N including 3.00 15.00 12.00 19.33
---------------------------------------------------------------------
12.00 57.00 45.00 5.42
2+25 -----------------------------------------
to TR-024 66.00 76.50 10.50 1.88 Central
2+75N -----------------------------------------
87.00 105.00 18.00 0.62
---------------------------------------------------------------------
3+00N TR-025 0.00 13.30 13.30 High background gold Central
with highest assay
result 0.248 gr/t
over 1.5 meters
---------------------------------------------------------------------
3+00N TR-026 0.00 24.00 24.00 4.06 Central
---------------------------------------------------------------------
21.00 42.00 21.00 1.08 Main
TR-027 ----------------------------------------------------
3+25N 66.00 133.50 67.50 3.83
--------------------------------------------------- Central
including 73.50 84.00 10.50 7.17
---------------------------------------------------------------------
9.00 63.00 54.00 0.62
-----------------------------------------
3+50N TR-028 84.00 93.00 9.00 1.18 Main
-----------------------------------------
100.50 115.00 14.50 1.82
---------------------------------------------------------------------
TR-029 0.00 148.00 148.00 1.33
---------------------------------------------------
3+75N including 107.50 115.00 7.50 2.84 Main
---------------------------------------------------
133.00 148.00 15.00 2.95
---------------------------------------------------------------------
3+75N TR-030 4.50 25.90 21.40 0.74 Main
---------------------------------------------------------------------
4+00
to
4+50N TR-031 9.00 150.00 141.00 0.58 Main
---------------------------------------------------------------------
0.00 12.50 12.50 6.74 Central
3+00 ----------------------------------------------------
to TR-032 48.00 63.00 15.00 0.52
4+00N ----------------------------------------- Main
91.50 172.50 81.00 1.36
---------------------------------------------------------------------
TR-033 0.00 35.40 35.40 3.92
3+50N --------------------------------------------------- Central
including 0.00 4.50 4.50 19.08
---------------------------------------------------------------------
0.00 9.00 9.00 2.04
3+50N TR-034 ----------------------------------------- Central
21.00 34.20 13.20 2.43
---------------------------------------------------------------------
TR-035 0.00 55.50 55.50 5.75
3+25 ---------------------------------------------------
to including 39.00 43.50 4.50 12.76 Central
3+50N ---------------------------------------------------
84.00 106.00 22.00 2.03
---------------------------------------------------------------------
3.50 16.00 12.50 0.61
3+25N TR-036 ----------------------------------------- Central
26.50 50.10 23.60 2.47
---------------------------------------------------------------------
TR-037 0.00 69.00 69.00 7.11
3+75 --------------------------------------------------- Central
including 27.00 51.00 24.00 15.48
---------------------------------------------------------------------
4+00 TR-038 0.00 46.80 46.80 3.66
to --------------------------------------------------- Central
4+25N including 18.00 30.00 12.00 9.48
---------------------------------------------------------------------
4+25N TR-039 0.00 10.50 10.50 3.51 Central
---------------------------------------------------------------------
4+50 42.00 57.00 15.00 2.38
to TR-040 ----------------------------------------- Central
5+50 95.00 146.20 51.20 1.05
---------------------------------------------------------------------
4+50
to
4+75N TR-041 0.00 85.00 85.00 Scattered high Central
background gold
assays with best
intersection 0.900
gr/t over 1.5 meters
---------------------------------------------------------------------
0.00 3.00 3.00 5.06
5+25N TR-042 ----------------------------------------- Central
15.00 42.00 27.00 0.86
---------------------------------------------------------------------
0.00 49.50 49.50 1.85
4+50 -----------------------------------------
to TR-043 57.00 85.50 28.50 1.02 Central
5+50N -----------------------------------------
100.50 112.50 12.00 0.53
---------------------------------------------------------------------
4+75N TR-044 9.00 42.00 33.00 1.97 Central
---------------------------------------------------------------------
TR-045 3.00 24.00 21.00 1.96
4+75N --------------------------------------------------- Central
including 19.50 24.00 4.50 5.39
---------------------------------------------------------------------
TR-046 3.00 75.50 72.50 1.99
4+50N --------------------------------------------------- Central
including 24.00 30.00 6.00 5.17
---------------------------------------------------------------------
4+75N TR-047 0.00 31.50 31.50 0.86 Central
---------------------------------------------------------------------
4+00N TR-048 25.50 48.00 22.50 0.87 Main
---------------------------------------------------------------------
0.00 48.50 48.50 0.70
-----------------------------------------
3+75 59.00 72.50 13.50 0.67
to TR-049 ----------------------------------------- Main
4+50N 83.00 99.50 16.50 0.50
-----------------------------------------
110.00 117.00 7.00 0.53
---------------------------------------------------------------------
0.00 15.00 15.00 3.45
9800N TR-050 ----------------------------------------- Northwest
42.00 60.00 18.00 3.32
---------------------------------------------------------------------
30.00 45.00 15.00 3.28
TR-051 ----------------------------------------- New
90.00 108.00 18.00 1.49
---------------------------------------------------------------------
TR-052 0.00 220.10 220.10 Assay Results
Pending New
---------------------------------------------------------------------
TR-053 48.00 54.00 6.00 2.37 New
---------------------------------------------------------------------
50.20 57.70 7.50 0.50
-----------------------------------------
0+00 TR-054 114.70 177.70 63.00 1.16 Main
-----------------------------------------
189.70 203.70 14.00 1.06
---------------------------------------------------------------------
1+50N TR-055 164.30 185.30 21.00 0.57 Main
---------------------------------------------------------------------
7.50 16.50 9.00 1.30
-----------------------------------------
3+00N TR-056 51.00 63.00 12.00 0.53 Main
-----------------------------------------
112.50 115.50 3.00 4.49
---------------------------------------------------------------------
1.50 6.00 4.50 1.72
5+00N TR-057 ----------------------------------------- Main
19.50 22.50 3.00 5.09
---------------------------------------------------------------------
6+50N TR-058 0.00 201.40 201.40 Several high Main
background gold
zones with best
intersection 1.750
gr/t gold over 1.5
meters
---------------------------------------------------------------------


David Nowak, (P.Geo.), has reviewed the technical data, and is the Qualified Person under the definition of Canadian National Instrument 43-101.

All samples were collected in accordance with industry standards, with a sample length of 1.5 meters or geological break, (excluding a few samples in overburden).

Preliminary sample preparation crushing is done on site, where a 500-gram sample is split, and shipped to Global Discovery Lab (GDL) or ALS Chemex in Vancouver where the local labs completed final sample preparation. GDL performed a 1-ton Fire Assay, and at ALS Chemex, a 2-ton Fire Assay was completed. Samples submitted included duplicates, blanks and standards, following industry established quality control practices.

On behalf of the Board of Directors of

PETAQUILLA MINERALS LTD.

Kenneth W. Morgan, CFO and Director


No stock exchange has approved or disapproved the information contained herein.

Contact Information

  • Petaquilla Minerals Ltd.
    Kenneth W. Morgan
    CFO and Director
    (604) 694-0021
    (604) 694-0063 (FAX)
    www.petaquilla.com