Antares discovers new mineralized zone at Rio Grande project

                    134.5 m with 0.53% Cu and 0.65 g/t Au,
                 including 48 m with 0.82% Cu and 1.28 g/t Au

    WATERDOWN, ON, Jan. 18 /CNW Telbec/ - Antares Minerals Inc. ("Antares",
ANM.TSX-V) is pleased to announce the results from an additional twelve holes
(5,500 m) of the thirty-five hole (16,238 m) diamond drilling program
completed in late 2007 at the Rio Grande copper-gold project in north-western
Argentina. Highlights from these holes include the discovery of significant
copper-gold mineralization in the previously un-tested #7 Zone along the
western margin of the Rio Grande prospect as well as further encouraging
results from the North and Sofia Zones. Some of the more significant
intercepts are as follows:

    - RGA-07-056 (#7 Zone): 134.50 m with 0.53% Cu, 0.65 g/t Au,
      and 8.9 g/t Ag
           - Includes 48.00 m with 0.82% Cu, 1.28 g/t Au, and 8.7 g/t Ag
           - Discovery of new Cu-Au zone along western margin of Rio Grande
           - Mineralization commences from near surface

    - RGA-07-045 (North Zone): 131.97 m with 0.38% Cu, 0.40 g/t Au,
      and 2.8 g/t Ag
           - Includes 50.23 m with 0.49% Cu, 0.46 g/t Au, and 2.7 g/t Ag
           - Collared 150 m east of similar mineralization in RGA-07-043

    - RGA-07-050 (Sofia Zone): 111.15 m with 0.42% Cu, 0.41 g/t Au,
      and 8.5 g/t Ag
           - Includes 24.90 m with 0.64% Cu, 0.79 g/t Au, and 16.2 g/t Ag
           - Collared 150 m north of well mineralized RGA-07-034

    Thirty-five holes (16,238 m) were completed in the 2007 diamond drilling
campaign at Rio Grande. Results from sixteen of these holes were previously
released on September 14 and October 25, 2007. Results from the remaining
seven holes will be released within the next few weeks upon receipt of pending
assay results. Please see table 1 below for a complete summary of the new
results and refer to the Antares website at for
drill-hole location maps and sections.

    John Black, President and CEO of Antares Minerals Inc. commented as

    "The results from the 2007 drilling campaign at Rio Grande continue to
meet and exceed our expectations. We are particularly encouraged by the
consistent zone of higher gold grades encountered in hole RGA-07-056 (48 m
averaging 1.28 g/t Au and 0.82% Cu with a maximum individual interval of
2.32 g/t Au). With the discovery of encouraging copper-gold mineralization at
the #7 Zone we have at least four areas where we have encountered longer runs
of higher grade copper-gold mineralization. These four areas have the
potential to collectively host a significant volume of better grade
mineralization and are interconnected by zones with lower grades. We are
currently working with our partners, Mansfield Minerals, to design an
extensive infill drilling program that would provide the possibility to
complete an initial resource estimate at Rio Grande by the end of 2008.
Drilling will recommence in February."

     Table 1.  Antares Rio Grande Drilling 2007 - Significant Intervals
                   Drill Holes reported on 18 January 2008
                          Total  Significant
    Drill                 depth  Interval            Length    Cu    Au    Ag
    Hole      Zone           (m) (m)                     (m)    %   g/t   g/t
    RGA-07-44 Discovery  602.70  469-504              35.00  0.37  0.25   3.0
              south              --------------------------------------------
    RGA-07-45 North      447.20  128.00-259.97        131.97  0.38  0.40  2.8
                                 incl. 128-154         26.00  0.44  0.51  2.9
                                 incl. 163-199         36.00  0.32  0.38  4.2
                                 incl. 209.74-259.97   50.23  0.49  0.46  2.7
    RGA-07-46 North      537.85  203-223               20.00  0.28  0.19  1.6
                                 325-435              110.00  0.36  0.32  3.4
                                 incl. 325-346         21.00  0.41  0.36  3.4
                                 incl. 352.00-406.35   54.35  0.42  0.38  3.6
                                 incl. 417-435         18.00  0.32  0.29  3.7
                                 461.90-484.00         22.10  0.26  0.13  3.8
    RGA-07-47 North      364.75  57-117                60.00  0.36  0.37  3.2
    RGA-07-49 Sofia      410.35  41.00-95.50           54.50  0.33  0.26  2.6
              north              --------------------------------------------
                                 119-135               16.00  0.25  0.09  0.9
    RGA-07-50 Sofia      406.75  12.00-225.15         213.15  0.37  0.37  6.1
              north              --------------------------------------------
                                 incl. 12-42           30.00  0.32  0.32  2.3
                                 incl. 50-104          54.00  0.39  0.40  4.6
                                 incl. 114.00-225.15  111.15  0.42  0.41  8.5
                                 incl. 152.00-176.90   24.90  0.64  0.79 16.2
                                 250.00-261.90         11.90  0.23  0.17  3.3
                                 292-304               12.00  0.22  0.31  8.4
    RGA-07-51 No.7 north 493.10  no significant intervals to report
    RGA-07-52 Sofia      397.80  225-243               18.00  0.23  0.27  2.6
              north              --------------------------------------------
                                 292-312               20.00  0.23  0.23  4.2
    RGA-07-53 No.7 south 396.50  no significant intervals to report
    RGA-07-54 North      430.40  120.60-133.00         12.40  0.30  0.65  7.5
                                 272-291               19.00  0.41  0.29  3.5
                                 307-329               22.00  0.21  0.18  1.8
    RGA-07-55 North      599.70  56-74                 18.00  0.24  0.34  2.9
                                 80-98                 18.00  0.22  0.28  3.9
                                 118-151               33.00  0.19  0.34 11.1
                                 227.00-260.60         33.60  0.25  0.31  3.7
                                 276.15-291.20         15.05  0.18  0.27  2.6
                                 301-315               14.00  0.25  0.25  5.1
                                 404-416               12.00  0.35  0.44  5.6
                                 422-432               10.00  0.25  0.33  3.6
                                 543-567               24.00  0.36  0.40  5.1
    RGA-07-56 No.7       412.90  4.50-219.50          215.00  0.42  0.49  7.1
                                 incl. 21-47           26.00  0.32  0.29  4.2
                                 incl. 53-79           26.00  0.25  0.26  3.9
                                 incl. 85-219.5       134.50  0.53  0.65  8.9
                                 incl. 101-149         48.00  0.82  1.28  8.7
    Please Note - Reported mineralized intervals represent down-hole lengths
    and do not represent true thicknesses as there is currently insufficient
    geological data to calculate true thicknesses

    Discussion of Results

    The objectives of the 2007 diamond drilling program were (1) to conduct
follow-up drilling on encouraging results from previous drilling campaigns in
the Sofia and Discovery Zones, (2) to drill test the remaining two-thirds of
the prospect that has not been adequately explored to date, and (3) to provide
an initial drill test of the satellite Northeast Target which bears geological
and geochemical similarities to the nearby Lindero gold deposit owned 100% by
    Copper-gold mineralization at Rio Grande is hosted by a complex sequence
of intermediate sub-volcanic intrusive rocks with variable degrees of
potassic, calcic, and propylitic alteration and local late- to post-mineral
intermediate dikes. The mineralization originally consisted of chalcopyrite
and magnetite as disseminations and fracture fillings. The chalcopyrite has
subsequently been partially to completely oxidized to green and black copper
oxides to depths of 300-400 m or more. Oxidation is typically in situ with
little to no remobilization of copper.
    The majority of the twelve holes presented in this release were drilled
in the previously under-explored North and #7 targets along the northern and
western margins of the Rio Grande system. Significant mineralized intervals
from the drill holes are listed in Table 1 above. All of the holes were
drilled at angles of 50-75 degrees from horizontal to traverse better the
potentially sub-vertical zones of mineralization. Reported mineralized
intervals represent down-hole lengths and do not represent true thicknesses as
there is currently insufficient geological data to calculate true thicknesses
(please refer to the Antares website at for drill-hole
location maps and sections).
    Drill-hole RGA-07-044 was drilled to complete the deeper hole of a drill
fence at the southern end of the Discovery zone. Mineralization encountered
deep in this hole is thinner and lower grade than elsewhere in the Discovery
zone indicating that the zone is beginning to terminate to the southwest.
    Drill-holes RGA-07-045, -046, -047, and -055 were drilled in the North
Zone on north-south drill sections located approximately 150 m apart. Holes
RGA-07-045 and -046 both encountered long runs of moderate grade copper-gold
mineralization near previously reported mineralization in RGA-07-043 and -048.
The majority of these holes were drilled to the south but RGA-07-046 was
drilled to the north to form a scissor pair with previously announced
RGA-07-043. This pair of holes indicates that the east-west striking zone of
mineralization most likely has a sub-vertical dip.
    Drill-holes RGA-07-49 and RGA-07-50 were drilled at the northern end of
the Sofia Zone approximately 150 m to the northeast of well-mineralized hole
RGA-07-034. The holes were drilled from the same pad but at 90 degrees to each
other to help identify potential structural trends. Both holes encountered
significant copper-gold mineralization with hole RGA-07-050 hosting an
interval of 111.15 m with 0.42% Cu and 0.41 g/t Au which includes a
sub-interval of 24.90 m with 0.64% Cu and 0.79 g/t Au. Further drilling will
be warranted to see how this interval connects with mineralization encountered
in RGA-07-034 (189 m with 0.70% Cu and 0.67 g/t Au). RGA-07-049 also hosts a
54.40 m interval containing 0.10% Mo with little Cu or Au. This occurrence is
not well understood but warrants further investigation. Holes RGA-07-052 and
054 were drilled in the gap between the Sofia and North Zones and only
encountered narrow zones of low to moderate copper-gold mineralization.
    Drill-holes RGA-07-051, -053, and -056 were drilled in the #7 zone and
are spaced approximately 400 m apart in this poorly exposed and under-explored
portion of the Rio Grande prospect. This area has thicker colluvium cover than
most of the project area. This means there is little outcrop and therefore
soil sampling is not very effective. Holes RGA-07-051 and -053 encountered no
significant mineralized intervals and may have been drilled too far to the
east to intersect the favourable mineralized structure. Hole RGA-07-056 was
drilled farther to the west and entered almost immediately into well
mineralized rock including an interval of 134.50 m with 0.53% Cu and 0.65 g/t
Au with a sub-interval of 48 m with 0.82% Cu and 1.28 g/t Au. This
sub-interval has very consistent gold grades ranging from 1-2 g/t Au with a
maximum individual assay value of 2.32 g/t Au. Mineralization remains open to
the north, south and most likely to the west, as well to depth. As typical for
most mineralized intervals encountered to date at Rio Grande, the
mineralization has been partially to completely oxidized with little secondary
transport of secondary copper mineralization.

    About the Rio Grande Project, Salta Province, Argentina

    The Rio Grande project is very favourably located along the prominent
northwest-trending Archibarca Lineament which also controls the location of
the world-class giant Escondida porphyry copper deposit 150 km to the
northwest in Chile. The Rio Grande project shares many geologic similarities
with the Bajo de Alumbrera porphyry copper-gold deposit which is located along
a similar northwest-trending regional structural lineament approximately
300 km to the south.
    Copper-gold mineralization at Rio Grande occurs within a distinct two-km
diameter ring fracture zone defined by IP chargeability as well as copper and
gold soil geochemical anomalies. Exploration prior to 2007 focused on the
better exposed Discovery and Sofia zones along the south-eastern portion of
the system. Drilling and trenching in these areas has defined a copper-gold
mineralized zone 1500 m long, 80-200 m wide, with a minimum depth of 200 m.
Mineralization remains open in both directions along strike and to depth. An
extensive trenching program completed by Antares earlier this year was
successful in identifying additional drill targets on the property.
    Antares has earned a 50% interest in the Rio Grande project pursuant to
an agreement with Mansfield Minerals Inc. ("Mansfield", MDR.TSX-V). Antares
recently completed the required expenditures and payments and plans to vest in
its 50% interest in the property shortly. Antares and Mansfield will formalize
a definitive joint venture agreement in the near future to fund ongoing
development at Rio Grande on a 50/50 basis with Antares as the operator.

    About Antares

    Antares is focused on the acquisition and exploration of precious and
base-metal exploration properties in Latin America that can be quickly and
cost-effectively advanced to the discovery and production stage. In addition
to the Rio Grande copper-gold project in Argentina, Antares is aggressively
advancing the Haquira SX-EW copper project in south-central Peru, immediately
adjacent to the Las Bambas copper project of Xstrata Copper. Antares recently
announced an updated resource estimate for the near-surface, SX-EW amenable
portion of the Haquira project (October 09, 2007) and is in the process of
completing the corresponding 43-101 technical report which will also include a
preliminary economic analysis. Based on 215 drill holes completed through the
end of 2006, Haquira hosts an indicated resource of 133.7 million tonnes at
0.53% total Cu with an additional inferred resource of 43.6 million tonnes at
0.44% total Cu (0.3% total Cu cut-off, leachable secondary copper sulphide and
oxide mineralization only). The current resource estimate does not incorporate
any of the 2007 drilling that has been focused on delineation of the newly
discovered primary copper-molybdenum-gold zone beneath the Haquira East copper
oxide zone. Antares has an option to acquire a 100% interest in the Haquira
project from Minera Phelps Dodge del Peru S.A.C.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    All of Antares' exploration programs and pertinent disclosure of a
technical or scientific nature are prepared by, or prepared under the direct
supervision of John Black, Antares' President, who serves as the qualified
person (QP) under the definitions of National Instrument 43-101. Antares'
security, chain of custody and quality control is described on their website
and can be reviewed at:

    Mineral resources do not have demonstrated economic viability and future
in-fill drilling and scoping, pre-feasibility and feasibility studies will
determine what percentage of the inferred resource can be placed into the
mineable category. Antares is not aware of any environmental, permitting,
legal, title, taxation, socio-political, marketing or other issue which may
materially affect this estimate of mineral resources.
    Certain disclosure in this release, including management's assessment of
Antares' plans and projects, constitutes forward-looking statements that are
subject to numerous risks, uncertainties and other factors relating to
Antares' operation as a mineral exploration company that may cause future
results to differ materially from those expressed or implied. Readers are
cautioned not to place undue reliance on forward-looking statements.
    %SEDAR: 00008329E

For further information:

For further information: please visit our website at or contact: Antares Minerals Inc.: John Black,
President and CEO, (720) 514-9036 office, (303) 618-7797 cellular,; Mark Wayne, CFO, (403) 705-4968; Renmark
Financial Communications Inc.: John Boidman,;
Melanie Lecavalier,; Media: Eva Jura,; (514) 939-3989, Fax: (514) 939-3717,; Broadgate Consultants, LLC: Alan Oshiki,, (212) 232-2354

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890