TORONTO, Dec. 10 /CNW/ - Mantis Mineral Corp (CNQ: Mine) is pleased to
announce that a high-resolution, helicopter-borne AeroTEM electromagnetic
survey has been completed over the Tamarack Project in the McFaulds Lake area
of Northern Ontario. The survey covers the previously unexplored southwestern
corner of the Tamarack property, which is interpreted to represent a
continuation of the horizon associated with the recent nickel-copper-platinum
group element (PGE) discovery of Noront Resources. The survey also provides a
complementary data set to surveys previously flown on the Tamarack property to
the east, which were responsible for the discovery of high-grade copper
volcanogenic massive sulphide (VMS) mineralization in 2005.
The property is currently under option, through an option-joint venture
agreement with Probe Mines Limited announced in October 2006.
The Tamarack property consists of 360 claim units (5,760 hectares) staked
in two blocks covering the northern and southern stratigraphy of the McFauld's
Volcanic Belt. In previous drilling by Probe Mines a 7.8 metre section of
chalcopyrite-rich VMS mineralization grading 3.1% copper was intersected in
the "A-zone" at a vertical depth of 50 metres. A second drill hole, collared
50 metres west and down dip from the discovery hole, intersected the A-zone at
97 metres vertical depth and returned 2.4% copper over 6.0 metres. Both
intercepts also returned anomalous concentrations of zinc, gold and silver.
Results from the current survey will be used in conjunction with previous
airborne and ground geophysical data to identify both VMS and Ni-Cu-PGE
targets for a winter drilling program. Numerous untested targets occur in both
the western and eastern claim blocks, and it is expected that the current
survey will delineate additional conductors.
The McFaulds area is once again receiving considerable attention with the
recent discovery of high-grade nickel-copper-PGE mineralization by Noront
Resources, southwest and along strike of the Tamarack property. Results from
hole NOT07-05 returned a 63.8m intersection of massive and net-textured
sulphides in olivine-bearing peridotite grading 5.9% nickel, 3.1% copper,
2.9 g/t Pt and 9.8 g/t Pd; including a 3m interval grading 8.7% nickel,
10.9% copper, 41 g/t Pt and 14 g/t Pd
Mantis can earn up to 51% of the Tamarack property through the
option-joint venture agreement. As part of the agreement, Mantis is required
to make exploration expenditures totaling $500,000 over a three-year term and
issue 400,000 shares (post-consolidation).
Dr. David Palmer, P.Geo., President of Probe Mines, is the qualified
person for all technical information in this release.
About Mantis Mineral Corp.
Mantis Mineral Corp. is a Canadian based resource and exploration company
traded publicly under the symbol MINE on the CNQ. Mantis is focused on
creating shareholder value through the exploration and development of its
suite of strategically located, high-impact Canadian exploration projects.
The CNQ has not reviewed and does not accept responsibility for the
adequacy of this release.
For further information:
For further information: Mr. Robin Ross, Chairman & CEO: (416) 362-1800,
email@example.com, or visit our corporate website at