TSX Venture Exchange: AMH
VANCOUVER, Jan. 31 /CNW Telbec/ - Amanta Resources Ltd. TSX-V: AMH
(Amanta) is pleased to report that The Government of the Lao People's
Democratic Republic (Lao PDR), through The Committee for Planning and
Investment, has informed Amanta that it has approved the Company's application
to explore for copper and associated minerals in northern Laos. The Committee
for Planning and Investment has invited Amanta to commence negotiations in
respect of a Mineral Exploration Agreement.
The Agreement will cover an area of 200 km2 and will be for a period of
up to eight years, with provision for time extensions.
During the past year and with the permission of the Lao government,
Amanta completed some initial reconnaissance within the Udom Xai and Luang
Namtha Provinces where the Company's application area is located. This work
included mapping and sampling of old workings, stream sediment sampling, as
well as some limited rock and soil sampling.
The area of interest is underlain by a regional Permo-Carboniferous
sedimentary package of shale and siltstone units and Mesozoic
intra-continental sedimentary clastics including abundant redbed units.
Mapping to date had not recognized any intrusive or volcanic rock units but
Company geologists have recovered mineralized samples of porphyritic andesite,
possibly Triassic, indicating that mapping of the area is generally
High grade vein breccia and replacement stratiform sediment hosted
exhalative copper-silver mineralization occurs in several parts of the
proposed exploration area and evidence of old mining activities is abundant.
Reconnaissance surface sampling identified massively mineralized blocks and
widespread gossanous cover. Rock grab samples returned up to 30% copper.
Samples from the gossanous material returned values of up to 3% copper.
Amanta is presently planning appropriate exploration programmes for the
area. These will include airborne magnetic and electro-magnetic surveys,
stream sediment sampling, mapping and initial reconnaissance drilling.
Exploration programmes will commence as soon as the Mineral Exploration
Agreement is finalised between Amanta and the Lao PDR Government.
Amanta is setting up a Representative Office in Vientiane and has
submitted an application for a Foreign Investment Licence, in connection with
the Mineral Exploration Agreement.
Gerald Wright, Amanta's President and CEO commented; "Amanta is pleased
that the Lao government has agreed to grant this concession to the Company and
believe that Amanta is the first Canadian company to be granted such a
concession. This copper project, together with our gold and tungsten interests
in Thailand, gives Amanta an impressive project portfolio and expands our
interests in precious and base metals in Southeast Asia."
Geological Information contained within this report has been verified by
Pieter Bakker (Director, Executive VP - Amanta Resources Ltd.). Mr. Bakker
satisfies the requirements of a Qualified Person as defined in the National
Instrument 43-101 (Standards of Disclosure for Mineral Projects).
Amanta Resources Ltd. is focused on mineral exploration, development and
production in Thailand and the Southeast Asian region. The Company
concentrates on the systematic evaluation of known mineral occurrences, rather
than "greenfields" exploration, creating early opportunities to finance and
ON BEHALF OF THE BOARD OF
"Gerald D. Wright"
Gerald D. Wright,
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this News Release.
For further information:
For further information: Amanta Resources Ltd.: Patrick Cauley, Vice
President & CFO, (604) 730-9505, Fax: (604) 648-8096,
firstname.lastname@example.org; www.amantaresources.com; Renmark Financial
Communications Inc.: Barry Mire: email@example.com; Neil Murray-Lyon:
firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717,