Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

September 13, 2010 10:15 ET

Takara's First Field Program Completed at the Tassawini Gold Project-Visible Gold Recovered From Four Anomalous Zones

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2010) -

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Takara Resources Inc. (TSX VENTURE:TKK) ("Takara") reports the discovery of over 30 kilometres of linear shear zones identified and traced on surface within the vicinity of the Tassawini Gold Project in NW Guyana (see news release August 17, 2010) on several of the outer six gold-in-soil geochemistry targets. Preliminary evaluation and re-interpretation of the sum of the exploration data is leading Takara's technical team to propose that the geological model is a shear hosted quartz carbonate deposit consistent with similar known gold mineralization common elsewhere in the Guyana Shield (Aurora, Toroparu, Omai, Gros Rosebel (Suriname), Million Mountain, Groete Creek and others), and similar with known Au mineralized deposits in Northern Ontario and Quebec.

Encouraging results were seen in reconnaissance pan concentrates from auger drill samples collected from depths ranging from 2 to 6 metres deep and surface grab samples that confirmed altered-mineralized material, primarily from within saprolitized shear zones located at the Matahari, Kathmandu, and Stamp Mill gold anomaly targets and southeast of the Clutch target; most of which are located within 2 kilometres of the Indicated Resource associated with the main Tassawini and Sonne deposits.

Mapping of parallel, variably mineralized, often mylonitic anastomosing shear zones up to 250 metres in width, and up to 7,000 metres along strike was completed over key parts of the outlying geochem targets, as well as parts of the main Tassawini and Sonne deposits by an experienced geological consulting crew using specialized prospecting methods specific to tropical environments. The excellent infrastructure and road network established by previous operators made recent access to most areas of high-priority investigation simple, fast and accurate.

Brent Jellicoe, P.Geo. and Vice President of Exploration for Takara Resources Inc. stated, "we are exceptionally pleased with progress made in defining a new path of understanding in the style and structural controls of mineralization prevalent in the Tassawini project area. Our original objective for this program was to confirm indicators of gold concentration in a number of gold-in-soil anomalies, but soon realized from extensive surface mapping and shallow drilling that there is both a better defined potential for economic gold at depth in the main Tassawini/Sonne deposits, as well as a strong correlation between areas of multiple intersecting shears with ongoing and historical artisanal surface mining operations. This work provides a strong impetus for further detailed mapping and core drilling programs in the near future."

A total of 813 samples for assay and geochemistry were collected during the 4 week program including over 700 samples from 180 Trado drill sites, which were taken along a cumulative 12,000+ metres of strike in several shear zones. In addition, 176 representative rock samples were taken for further study from the mapped areas. Samples will be submitted as soon as QA/QC procedures are completed and assays will be reported upon receipt.

Previous work on the Tassawini Gold Project has permitted definition of a 43-101 compliant mineral resource at the Tassawini and Sonne deposits containing an Indicated Resource of 10,766,000 tonnes @ 1.3 grams gold per tonne ("g/t") Au/t for 437,000 ounces gold and an Inferred Resource of 1,926,999 tonnes @ 1.0 g Au/t for 62,000 ounces gold (using a 0.5 g/t gold cut-off) that was authored by SRK Consulting (Canada) Inc. (see Takara news release dated March 18, 2010, and the report filed on SEDAR under Takara's profile at www.sedar.com).

About the Tassawini Property

The property is situated in the Barima-Waini District of Northwestern Guyana approximately 170 km northwest of the national capital, Georgetown. The Tassawini Prospecting Licence (PL), which includes the Tassawini and Sonne deposits, covers approximately 4,814 hectares and encompasses four Mining Permits (MP), covering a total area of 1,381 hectares, which make up the property. The adjacent Anaturi PL, which also is the focus of reconnaissance prospecting and geology by Takara, provides an additional 4,836 hectares of proximal, prospective ground in this area.

Since 2004, a total of $26.3 million in exploration expenditures have been incurred on the Tassawini Gold Project, an advanced stage gold exploration project that produced over 11,000 ounces between 1907 and 1914. Tassawini has a 120-person modern camp and is accessible by air and commercial barge throughout the year.

Brent C. Jellicoe, P.Geo., a Geological Consultant for Takara, is a Professional Geoscientist in the Province of Saskatchewan, 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. Gold-related exploration and technical advice was provided by Geological Consultant, Brent McNiven, B.Sc., MBA-PM.

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 advanced-stage gold projects within the Guyana Shield, namely: (i) the 100% owned Tassawini Gold Project; and (ii) a 30% interest in the BRL Venture operated by Newmont Overseas Exploration Limited, a subsidiary of Newmont Mining Corporation (NYSE:NEM) and holding a 70% interest in the project.

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 our actual results, performance or achievements, or developments in our 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. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as such information constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward-looking statements in this document include statements regarding: Takara's expectations regarding drilling and exploration activities on properties in which Takara has an interest; and Takara's statements regarding estimates of resources on properties in which Takara 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 that speak only as of their respective dates. Important factors that could cause actual results to differ materially from Takara's expectations include among others, risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of Takara's properties; uncertainties involved in the estimation of resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Takara's operations; risks associated with title to mineral properties; and other risks discussed in Takara's MD&A. Except as expressly required by applicable securities laws, 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)
    or
    Takara Resources Inc.
    Pamela Strand, P. Geol.
    Executive Vice President
    (780) 435-0045 (work) or (780) 903-0820 (cell)
    or
    Takara Resources Inc.
    Brent McNiven, B.Sc., M.B.A.
    Consulting Geologist
    (403) 613-5032