FIRST PHASE OF THE 2014 EXPLORATION PROGRAM ON THE TAKLA-RAINBOW PROPERTY IN NORTHCENTRAL BRITISH COLUMBIA HAS BEEN COMPLETED
Vancouver, BC/TNW-Accesswire/August 13, 2014/ Manado Gold Corp. (“Manado”) (TSX-V: MDO) is pleased to announce that the first of the two-phase 2014 field work has been competed on its Takla-Rainbow property in northcentral British Columbia. This work was undertaken to follow up on its successful 2013 drill program where drill hole number TR13-88 finished in a mineralised zone. This drill hole intersected 24.52 metres (66.0 to 90.52 m, end of hole) of mineralization grading 2.011 gpt gold, 2.0 gpt silver and 0.18% copper, including a 6-metre section (66.0 to 74.0 m) with an average grade of 4.225 gpt gold, 4.0 gpt silver and 0.35% copper (Note: these intercepts are drilling lengths, not true widths).
The initial phase of the 2014 field work was completed during a 2-week period in late July. The field work included reconnaissance geological mapping and sampling within all five known zones of copper-gold mineralization, and logging and sampling of unsplit sections of drill core stored at the old campsite from the pre-1992 Imperial Metals and Eastfield Resources drilling programs. This work focused on identifying porphyry-style copper-gold mineralization not identified or sampled by the previous operators.
A total of 226 rock and drill core samples have been submitted for gold assays and base metal analyses. The analytical results are expected within the next 2 to 3 weeks. The results of the geological mapping with the rock and drill core assay results will be reported after a thorough review is completed.
Doug Blanchflower, P. Geo, is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects and is responsible for the work program on the Takla-Rainbow Property. Mr. Blanchflower has reviewed and approved the technical information in this news release.
About the Takla-Rainbow Property
The Takla-Rainbow Property is located in northcentral British Columbia, approximately 152 kilometres north-northwest of Fort St. James or 156 kilometres northeast of Smithers. The property consists of six mineral tenures that collectively cover 4,545.34 hectares (11,231.38 acres) along the Twin Creek drainage. All of the claims are owned 100% by CJL Enterprises Ltd. of Smithers, B.C., subject to the terms of an option to purchase agreement with Manado.
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Manado cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Manado’s control. Such factors include, among other things: risks and uncertainties relating to Manado’s limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Manado’s properties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Manado undertakes no obligation to publicly update or revise forward-looking information.