Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

December 30, 2010 10:20 ET

Takara Announces Assay Results of Up to 9.5 g/t Au in Proximity to the Tassawini Deposit

TORONTO, ONTARIO--(Marketwire - Dec. 30, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Takara Resources Inc. ("Takara") (TSX VENTURE:TKK) is pleased to announce that ongoing assays from the Phase II shallow Trado-Drill reconnaissance program on the Tassawini project are evidencing favorable gold mineralization within two kilometres of the Tassawini Deposit, returning values from 1.00 g/t up to 9.5 g/t Au, the highlights of which are:

Hole T75 Tassawini Creek 9.5 g/t Au
Hole T138 Stamp Mill 5.6 g/t Au
HoleT81 Tassawini Creek 2.5 g/t Au

"The results from 2010 field program are very promising and confirm significant potential for additional gold mineralization similar to the Tassawini deposit, particularly in areas that are less than 2 kilometres east of the main deposit," said Jennifer Boyle, President and CEO of Takara Resources Inc. "All of these areas are expected to be followed up with detailed geophysical surveys and step out diamond drilling in 2011."

Takara undertook systematic shallow rotary drill sampling ("Trado") and panned concentrates across the Tassawini project in areas with documented historic gold occurrences outside of the perimeters of Tassawini deposit. The main objective of the exploration program was to identify areas with additional surface mineralization in order to define step out drill targets.

Out of a total 1607 samples, Takara has received results from 1502 samples (see news release December 7, 2010). An additional 105 assay results and 50 results for the pan concentrate are pending. The selected results from Phase II are from 10 shallow rotary holes (Trado), located in Tassawini Creek, Clutch and Stamp Mill geochemical anomalies. Six samples returned values from 1.00 g/t up to 9.5 g/t Au.

Tassawini Creek Anomaly is a discrete 950 m long cluster of anomalous gold responses, delineated by the new Trado drilling. This feature coincides with a well-defined NE trending shear structure which was mapped during the Phase II mapping program. Some of the strongest gold values coincide and intersect with additional structures, examples include:

  • Hole T75 is vertical, 5 m deep, collared in brown-red, soft hematitic saprolite with stringers of quartz, veinlets of kaolin and nodules of manganese. Sample C257381 (from 0.0 to 1.0 m) returned 1.51 g/t Au. From the same hole sample C257383 (approx. from 3.0-4.0 m) yielded 9.52 g/t Au.

  • Hole T76 is along the same shear zone, collared in sandy saprolite with graphite, goethite, hematite, limonite, and veinlets of kaolin. Sample C257385 (approx. from 1.0 to 2.0 m) returned 1.04 g/t Au.

  • Hole T81 is 173 m NE of hole T75, in the same shear zone, collared in soft hematitic saprolite with stringers of fine grained quartz and pisolites. Sample C257403 (0.0 to 1.0 m) returned an assay of 2.51 g/t across the first meter at surface and 1.35 g/t from the second sample (1.0m to 2.0m).

  • Hole T94 is approximately 600 m NE of hole T75 along the same shear zone and sample C257471 yielded 0.97 g/t Au (1.0 to 2.0 m).

Tassawini North and Tassawini South anomalies are spatially associated with intersecting NE and NW trending gold bearing structures radiating from Tassawini Deposit. Hole T128 is collared in saprolite with minor foliation, fragments of sugary quartz, and manganese, Sample C257621 (3.0 to 4.0 m) returned 0.51 g/t Au.

The Clutch anomaly is approximately 1.8 km SW of the main Tassawini Deposit. The zone is characterized by erratic, locally high gold values associated with local structures. The Trado sample analyses show the presence of gold values up to 3.54 g /t Au ( see News Release December 7, 2010). The follow up Phase II drilling suggest the presence of a NNE-SSW trending mineralization. Hole T187, sample C257905 (2.0 to 3.0m) returned 0.5 g/t Au. Hole T190 is collared in the same sheared saprolite with fine stringers of quartz, hematite, manganese and graphite. Sample C257909 (0.0-1.0 m) returned 0.89 g/t Au and sample C257910 (1.0 to 2.0 m) yielded 0.79 g/t Au.

The Stamp Mill Anomaly is located approximately 20 km north of the main Tassawini Deposit. The gold occurrences are spatially associated with intersecting NE and NW trending structures very similar to the shear zones in Tassawini Deposit. They are characterized by erratic, locally high gold values associated with the intersection of two or more shear zones. The mini bulk samples from Stamp Mill returned fine, medium and coarse grained visible gold. Hole T138, sample C257662 (0.0- 1.0 m) yielded 5.62 g/t at the beginning of the hole and shall be considered for a follow up in 2011.

The drill cuttings and the panned concentrate were sampled and sent for preparation to Acme Analytical Laboratories Ltd in Georgetown (Guyana, South America). All samples were analyzed by screen fire assay (Chile) and ICP analyses (Santiago, Chile and Vancouver, Canada). QA/QC procedures were in place for all stages of sampling, preparation, and analyses. For preparation and analysis, blanks, duplicates and standard reference materials (CRM) were inserted into the sample sequences in order to measure contamination, accuracy, and precision. The ACME analytical facilities in Santiago (Chile) and Vancouver (Canada), and the preparation facility in Georgetown (Guyana) are commercial geochemical analysis and assaying labs accredited under ISO 9001 certification.

Dr. Tania Ilieva, P. Geo. is the Vice President Exploration for Takara Resources and is Takara's Qualified Person for the Guyana gold projects, and is responsible for the verification and quality assurance of analytical results, and technical content of Takara's disclosures.

Private Placement Financing

The Company further announces that it intends to complete the first tranche of the non-brokered private placement (announced on December 7, 2010 and December 22, 2010) before the end of the year, and that subsequent closings, both brokered and non-brokered, are anticipated to be completed early in January, 2011.

ABOUT TAKARA

Takara is a Canadian based gold company focused on the exploration and development of its Guyana gold assets held within a wholly-owned subsidiary, StrataGold Guyana Inc., including two gold projects within the Guyana Shield, namely: (i) the 100% owned Tassawini Gold Project; and (ii) a 29.90% interest in the Arakaka Joint Venture.

All transactions contemplated herein are subject to securities regulatory approvals. The securities of Takara Resources Inc. have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any U.S. State, and may not be offered or sold in the United States or to any "US Person" (as defined in Regulation S under the Securities Act of 1933) absent registration or an exemption from registration.

Statement Regarding Forward Looking Information 

This news release of Takara contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Takara's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding Takara's expectations regarding ownership, entitlements, drilling and exploration activities on properties in which Takara has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Takara's expectations. Takara undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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

Contact Information

  • Takara Resources Inc.
    Jennifer Boyle, B.A., LL.B.
    President & Chief Executive Officer
    (647) 430-0966 (work) or (416) 904-2714 (cell)