Douglas Lake Encounters Up to 16 g/t Gold in Mineralization Trend East of Magambazi
Douglas Lake Minerals Inc. is pleased to announce the results of initial rock sampling near to the Douglas Lake-Canaco Resources boundary in Tanzania.
Douglas Lake recently collected samples within the area of the Northwest-Southeast striking Magambazi gold trend. This area is small part of the Company’s four contiguous licence areas that total 800 square kilometer’s within the Handeni district. The gold content in these samples reached values as high as 16.8 g/t
Results from the analysis broadly define a 600m long NW-SE trend of anomalous gold mineralization as shown in Figure 1. In addition, a second area of highly anomalous gold may be present to the Northeast of the new trend.
Previous work described in Douglas Lakes’ NI 43-101 Technical Report over the area revealed a strong Northwest-Southeast structural fabric to the underlying rocks from the magnetic survey as well as a strong anomalous gold response within the soils in the area. Recent exploration by Douglas Lake has included a grab sampling program directly east of Canaco’s Handeni property. The samples were collected within a portion of the area of anomalous soil response that continues east-southeast from the Magambazi gold occurrence.
This initial round of sampling concentrated on Quartz veins that were collected at surface and from artisanal pits down to a depth of 10 meters. Gold analyses were conducted by SGS Laboratories Tanzania, an internationally certified laboratory. A 50 gram fire assay was employed and verification was performed by repeats and the use of blanks and standard samples.
“These results reinforce our belief that the Handeni area hosts extensive multiple gold bearing systems associated with Northwest-Southeast oriented shear zones and fold structures,” says Craig Alford, Vice President of Exploration. “These are very encouraging initial results and further sampling will take place from the Southeast Magambazi Zone which possessed the highest gold in soils.”
Craig Alford, Vice President Exploration for Douglas Lake Minerals, a Qualified Person under NI 43-101, has prepared and supervised the scientific or technical information for the property and verified the data disclosed in this press release.
Fig. 1: Plan view of sample location and concentrations of gold in quartz grab samples. The boundary between Canaco Resources and Douglas Lake Minerals is indicated as a vertical dark blue line. Gold values are: 5 – 30ppb=Green; 30 – 100ppb=Pink; 100 – 2 000ppb=Orange; 2 000 – 6 000ppb=Red; greater than 6 000ppb = Yellow. The new NW-SE trending mineralization zone is approximately 600 meters in length based on current data
To view Fig. 1, please see the following link: http://media3.marketwire.com/docs/dlkmfig1.pdf
