Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

December 07, 2010 10:23 ET

Takara Completes Phase 2 Field Program Core Drilling Targets Confirmed for Tassawini Gold Project

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2010) -

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Takara Resources Inc. (TSX VENTURE:TKK) ("Takara") announces that it has completed its 2010 Phase I and Phase II exploration programs of prospecting, mapping and sampling on the Tassawini Gold Project in Guyana, South America. Seven of nine geochemical anomalies outside of the main Tassawini Deposit were assessed on a preliminary basis over both programs (August, 2010 and subsequently November/December, 2010) and initial assays have been received in part from five (5) areas, the most favourable results being from the Clutch anomaly, which returned values of up to 3.54 g/t Au (see Table below). Additionally, panned concentrates from mini-bulk samples were used as a real time exploration tool to localize on-site targets at surface and in the saprolite, and forty (40) out of forty nine (49) mini-bulk samples returned visible gold ranging from one gold point to 217 gold points.

The main objectives of the full program were two-fold; first, to validate the best gold-in-soil anomalies outside of the Tassawini Deposit area, and second, to test for extensions of mineralization on the Tassawini and Sonne resource areas. Seven (7) of the nine (9) geochemical anomalies tested Tassawini Creek, Sonne (South Extension and North Extension), Clutch, Mora, Matahari, Kathmandu and Stamp Mill.

"The current 500,000 ounce gold resource, held primarily in the saprolite at depth to surface, is substantial enough to begin engineering, environmental, and other related activities towards a development plan for Tassawini. Therefore, any favourable hint of mineralization at any one of the outlying anomalies could accelerate our confidence in expanding the resource on a relatively quick basis, enabling a faster track to potential production, particularly since the prior operator has already set much of the groundwork", stated Jennifer Boyle, President and CEO of Takara Resources Inc.

Takara utilized systematic shallow Trado drilling (a "Trado" drill is a mechanized auger type of drill that can recover an unmixed sample to depths of up to 6 metres in soils and weathered bedrock") for collection of screen fire assay samples across the Tassawini project in areas where historic gold occurrences had been documented by prior operators. In addition, mini-bulk samples for recovery of gold from panned concentrates were taken from the Stamp Mill target and potential extensions of the Sonne resource area.

The materials intersected in the Trado drill holes were mostly limonitic saprolite, hematitic saprolite, saprolite with graphite, bands of manganese and admixtures of the different types of saprolite. A total of 1,521 samples of saprolite cuttings (chips) were sent for assay, and 49 mini-bulk panned concentrates were analyzed for visible gold. All panned concentrates, grab samples, and trado samples were analysed for Au content by Acme Analytical Labs. The ACME analytical facilities located in Santiago (Chile) for assay analyses,, Vancouver (Canada) for whole rock geochemistry (ICP-MS), and the preparation facility in Georgetown (Guyana) are commercial analysis and assaying labs accredited under ISO 9001 certification.

To view, "Figure 1. Location of the geochemical anomalies, explored during the 2010 Exploration program," please visit the following link: http://media3.marketwire.com/docs/tkkFig1dec.pdf.

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.

Out of a total 1,607 samples, Takara has received results from 894 samples and the following table represents the highlight screen fire assay results to date. Although partial assays returned to date from several targets are not showing worthwhile gold values, the most favourable results were received from the Clutch anomaly proximally located to the Tassawini deposit, which returned values of up to 3.54 g/t. This appears to confirm favourable potential for gold mineralization similar to the Tassawini deposit, and is expected to be followed up with diamond drilling in 2011. The additional 713 results are pending.

Sample number   Approx depth (m)   Location   Description   Au (g/t)
158119   1.5-3.0   Clutch   Orange brown saprolite   0.333
158136   0.0-1.5   Clutch   Saprolite with nodules of Fe-Mn oxides.   0.210
158139   0.0-1.5   Clutch   Saprolite with Mn oxides.   0.728
158140   0.0-1.5   Clutch   Saprolite with Fe-Mn bands   0.659
158141   1.5-3.0   Clutch   Saprolite with Fe-Mn bands   0.612
158142   1.5-3.0   Clutch   Saprolite with sugary quartz   3.540
158143   4.5-6.0   Clutch   Saprolite with sugary quartz   1.570
158144   0.0-1.5   Clutch   Saprolite with bands of Fe-Mn oxides.   0.970
158145   0.0-1.5   Clutch   Saprolite with bands of Fe-Mn oxides   0.400
158161   1.5-3.0   Clutch   Purple saprolite   0.247
158162   3.0-4.5   Clutch   Dark grey saprolite   0.236
158163   4.5-6.0   Clutch   Dark grey saprolite   0.350
158177   4.5-6.0   Clutch   Light purple-pink saprolite   0.364
158748   1.5-3.0   Matahari   Hematitic red saprolite   0.343
158749   1.5-3.0   Matahari   Red Saprolite   0.277

Additionally, Takara drilled a total of 409 shallow rotary drill holes to depths varying from 1 to 6 metres. A total of 49 mini-bulk samples, each composed of approximately 300 kilograms of cuttings, were collected and processed with observation of the panned concentrate for visible gold. Forty (40) out of forty nine (49) mini-bulk samples returned visible gold ranging from one gold point to 217 gold points. The size of the flakes of free gold in the saprolite, quartz veins and quartz-carbonate stringers varied from very fine-grained to coarse-grained. All fine-, medium-, and coarse-grained visible gold were recorded as gold points. Evaluation of the pan concentrate results with comparison to parallel Phase I assay results is underway and will be reported as soon as possible.

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 disclosure. 

About Takara

Takara Resources Inc. is a Canadian based (TSX VENTURE:TKK) is a 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.

Statement Regarding Forward Looking Statements

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. 

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 L. Boyle, B.A., LL.B.
    Chief Executive Officer
    (647) 430-0966 (work) or (416) 904-2714 (cell)