VANCOUVER, BRITISH COLUMBIA (the "Company") announces the
results from the first 3 holes (1,884 m) of the current diamond
drilling program at the Rio Grande copper-gold project in
northwestern Argentina being executed by its joint venture partner,
Antares Minerals Inc. ("Antares"). All three holes intersected
zones of higher grade copper-gold mineralization and confirm the
continuity of this style of mineralization at the northern end of
the Sofia Zone. The holes were drilled at the northern end of the
Sofia Zone as 75 m offsets to higher grade copper gold
mineralization previously encountered in RGA-034 (189 m with 0.70%
Cu, 0.67 g/t Au and 11.1 g/t Ag). The significant intercepts from
the three holes are as follows:
- RGA-08-065: 146 m with 0.60% Cu, 0.57 g/t Au and 7.2 g/t
Ag
-- includes 73 m with 0.87% Cu, 0.85 g/t Au and 8.5 g/t Ag
-- which includes 46.4 m with 1.16% Cu, 1.18 g/t Au and 10.4 g/t
Ag
-- located 75 m to north of RGA-07-034
-- also intersected 31 m of 0.027% Mo in a separate footwall
zone
- RGA-08-064: 114 m with 0.56% Cu, 0.58 g/t Au and 10.6 g/t
Ag
-- includes 62 m with 0.79% Cu, 0.85 g/t Au and 15.9 g/t Ag
-- which includes 28 m with 1.10% Cu, 1.22 g/t Au and 20.6 g/t
Ag
-- located 75 m to south of RGA-07-034
- RGA-08-063: 65 m with 0.49% Cu, 0.35 g/t Au and 6.0 g/t Ag
-- Includes 19.6 m with 0.88% Cu, 0.82 g/t Au and 13.6 g/t
Ag
-- located 75 m to west and drilling below RGA-07-034
-- also intersected 48.5 m with 0.064% Mo in a separate footwall
zone
The current drill campaign consists of 15,000 metres and is
designed as a step-out program focused on the #7, Sofia,
Sofia-Discovery and North zones.
John Black, President and CEO of Antares Minerals Inc. commented
as follows:
"We are very pleased with the drilling results from the Sofia
Zone. The copper-gold mineralization is proving to be continuous
and is characterized by a high-grade core with grades exceeding 1%
Cu, 1 g/t Au and 10 g/t Ag which is surrounded by a halo of lower
grade material. The strike length of the Sofia Zone is now
approximately 450 m with an average true thickness of approximately
90 m and up to 500 m of down-dip extent. We also continue to
intersect potentially significant values of molybdenum in a
distinctly separate zone beneath the copper-gold mineralization
that is not well understood. This new molybdenum zone warrants
further investigation.
It is important to note that Sofia is only one of the four areas
where we have encountered higher grades and thicknesses of
copper-gold mineralization at Rio Grande. An exploration drilling
program is underway to test all four areas. If positive results
continue to be encountered in the initial holes, Antares will
consider expanding the drilling program to a level that will allow
for the completion of an initial resource estimate and
metallurgical characterization for Rio Grande by the end of
2008."
Gordon P. Leask, President and CEO of Mansfield Minerals Inc.
commented as follows:
"As drilling continues at Rio Grande the most significant aspect
of the results to date is the combination of areal extent,
distribution and continuity of the higher grade copper-gold zones.
Although not yet definitive, the data suggests the mineralized
system contains a very large metal budget with commensurately large
economic potential. At this stage, drilling has tested only a small
portion of the overall system. Given the geological complexities
encountered to date, the likelihood is for many more surprises; the
latest of which is the molybdenum zone beneath the Sophia
area."
All significant mineralized intervals from the drill holes are
listed below. A map of the drill hole locations has been posted on
the Company's website and can be viewed at
http://www.mansfieldminerals.com/s/RioGrande.asp.
------------------------------------------------------------------------
Drill Hole Copper Gold Silver
Number Zone Interval Length (%) (g/t) (g/t)
------------------------------------------------------------------------
RGA-08-63 Sofia North 394-459 m 65 m 0.49 0.35 6.0
incl. 400-420 m 20 m 0.88 0.82 13.6
------------------------------------------------------------------------
RGA-08-64 Sofia North 224-338 m 114 m 0.56 0.58 10.6
incl. 226-288 m 62 m 0.79 0.85 15.9
incl. 260-288 m 28 m 1.10 1.22 20.6
------------------------------------------------------------------------
RGA-08-65 Sofia North 196-342 m 146 m 0.60 0.57 7.2
incl. 196-269 m 73 m 0.87 0.85 8.5
incl. 204-250 m 46 m 1.16 1.18 10.4
------------------------------------------------------------------------
Please Note: Intervals have been rounded to the nearest metre.
Reported mineralized intervals represent down-hole lengths and do
not represent true thicknesses. The mineralized zone at Sofia is a
tabular body that dips at approximately 70 degrees to the west.
True thicknesses of the mineralization are estimated to be
approximately 60% of the down-hole intercept lengths. The cut-off
for calculating significant intervals was 0.2% Cu and/or 0.2 g/t
Au.
Discussion of Results
The three drill holes presented in this release were drilled as
75 m offsets to previously completed drill-hole RGA-07-34 which
encountered 189 m with 0.70% Cu, 0.67 g/t Au and 11.1 g/t Ag. The
offset direction and drilling orientation for each hole are listed
below:
-------------------------------------------------------------------
Drill hole Azimuth Inclination Offset from RGA-07-034
-------------------------------------------------------------------
RGA-08-063 090 -75 75 m to the west
-------------------------------------------------------------------
RGA-08-064 090 -70 75 m to the south
-------------------------------------------------------------------
RGA-08-065 090 -70 75 m to the north
-------------------------------------------------------------------
All three of the holes encountered a complex sequence of
intermediate composition dikes and sub-volcanic intrusive rocks
with variable degrees of potassic, calcic, and propylitic
alteration and local late- to post-mineral intermediate dikes. At
approximately 400 m depth each of the holes began to encounter
intervals of sedimentary red-bed sandstones which form the
wallrocks to the Rio Grande intrusive center. The sedimentary rocks
are cut by numerous sub-volcanic dikes.
All three holes intersected the Sofia mineralization zone which
is a steeply dipping (-70 degrees) tabular zone that strikes due
north in this area. The better mineralized portion of the Sofia
mineralization zone has a strike length of approximately 450 m, an
average true width of approximately 90 m and has been intercepted
at up to 500 m down dip. Copper-gold mineralization in RGA-08-64
and RGA-08-65 is predominantly oxidized with only minor traces of
chalcopyrite present. Mineralization in the deeper RGA-08-63 is
only weakly oxidized and consists mostly of chalcopyrite with
pyrite and magnetite. A deeper and distinctly separate zone of
molybdenum mineralization was encountered in both drill-hole
RGA-08-63 (48.5 m with 0.064% Mo) and drill-hole RGA-08-65 (31 m
with 0.027% Mo). Several other holes in this vicinity of these two
holes have returned similar molybdenum intercepts (RGA-07-049 with
54.4 m of 0.10% Mo for example). The significance of this
molybdenum mineralization is not well understood but warrants
further investigation.
Security - Chain of Custody and Quality Control
Antares' security, chain of custody and quality control is
described on their website and can be reviewed at:
http://www.antaresminerals.com/BestPractices/SamplingMethodologies/tabid/88/Default.aspx.
Fireweed Project, B.C. - The Company has filed a 43-101
technical report on its Fireweed property. To view the report,
please visit www.sedar.com.
This news release has been reviewed by Gordon P. Leask, P.Eng.,
President of the Company, and a Qualified Person ("QP") as defined
by National Instrument 43-101 (Standards of Disclosure for Mineral
Projects).
About Mansfield Minerals Inc.: Mansfield is a mining exploration
company which has focused its activities in northwestern Argentina
since August 1994. The Company's current significant properties and
projects consist of mineral rights covering approximately 170
square miles in three Argentine provinces and one Canadian
province. The Company is currently focused on two primary projects
which include Lindero (gold) and Rio Grande (copper-gold).
Mansfield and Antares each own a 50% undivided interest in Rio
Grande.
On behalf of the Board of Directors,
Gordon P. Leask., P.Eng., President
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and
uncertainties. Actual results may differ materially from results
contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to
update any forward looking statements, oral or written, made by
itself or on its behalf.
The TSX Venture does not accept responsibility for the adequacy
or accuracy of this release.
Contacts: Mansfield Minerals Inc. Nancy Goertzen (604) 681-4462
(604) 681-0180 (FAX) Email: info@mansfieldminerals.com Website:
www.mansfieldminerals.com
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