Mantle Finds Zinc, Lead And Silver On Megastar’s BC Sedex Zinc-Lead Properties
March 3, 2008
Vancouver, British Columbia, Canada – Monday, March 3, 2008 – Mantle Resources Inc. (TSX Venture Exchange: MTS; Frankfurt: A0F7E1) (“Mantle” or the “Company”) is pleased to announce that the exploration recently completed on the SEDEX zinc-lead properties optioned from Megastar Development Corp. (TSX.V: MDV) has returned samples with elevated, and in some cases, significant geochemical zinc, lead and silver values.
Under an option agreement with Megastar, Mantle operates a regional exploration program on all of the Megastar claims - all located within the Kechika Trough in northeastern
The 2007 work program consisted of geochemical sampling, gravity geophysics, prospecting and mapping. It was successful in locating several areas and trends of zinc, lead and silver bearing exhalative horizons within the underlying formations. Encouraging analytical results were obtained for most of these claims, notably zinc and barium (the principal element in barite, a gangue mineral commonly associated within the Kechika SEDEX deposits). In soils, samples returned values up to 0.82% Zn (New Gun-Pesika claim) and 0.50% Ba (barium) – (
claim). Anomalous silver and lead values were also encountered on most of the claims, with values ranging to 0.54% Pb on the
claim and to 12.43 g/t Ag on the Akie-Sika North claim. In specific areas, rock samples ranged in values to 0.56% Ba on the New Gun-Pesika claim and up to 0.87% Zn, 7.9 g/t Ag and 0.82% Pb on the
The claims are generally underlain by basinal, clastic sedimentary rocks which hosts a number of known SEDEX deposits and prospects, such as the nearby Cirque and South Cirque deposits (totaling a geological inventory of 50 million tonnes grading approximately 10% combined Zn+Pb and 48 g/t Ag) owned by Teck Cominco and Korea Zinc. The resource quoted above is historical and does not conform to standards established under National Instrument 43-101. Interest in the region was renewed after drilling by Mantle on the nearby Akie property encountered significant mineralization (up to 11.87% Zn, 2.83% Pb, 23 g/t Ag over 34.05 m, including 17.22% Zn, 4.20% Pb and 30 g/t Ag over 17.93 m) at the Cardiac Creek deposit. Highlights of Mantle’s most recent drill results at its 100% owned Akie property, in north-eastern British Columbia, approximately 260 kilometres north-northwest of the town of Mackenzie, include: hole A-07-47 (27.07 metres grading 11.46% Zn+Pb); hole A-07-51 (24.54 metres grading 15.49% Zn+Pb) and hole A-07-53 (16.23 metres grading 15.15% Zn+Pb).
A follow-up program is slated for implementation during the 2008 exploration season. By expending a total of $2.25 million on exploration Mantle can earn a 60% interest in these properties. Mantle can increase its interest to 80 per cent by spending an additional $1-million on the properties. Mantle can then earn a further 10 per cent (cumulative 90 per cent) by completing a preliminary feasibility study.
All of the claims are in good standing and statements of work for the 2007 program are currently being filed. Expiry dates for the tenures will be extended a number of years after the statements of work have been accepted.
Rock samples are placed in secure bags, shipped in secure containers to Acme Analytical Laboratories Ltd., Vancouver, B.C., and there subjected to digestion with nitric acid diluted in mineral water followed by ICP analysis (Acme Group 4A Whole Rock Analysis by ICP) to determine zinc, lead and silver content. Soil samples are shipped in secure bags to Acme and digested in by a modified Aqua Regia solution followed by ICP MS analysis (Acme Group 1F-MS – Ultratrace ICP-MS). Standards and blanks are inserted into the assay stream at a rate of about one of each for every 25 core samples.
About the Akie Property
The Akie zinc-lead property is situated within the southern-most part (Kechika Trough) of the regionally extensive Paleozoic Selwyn Basin, one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by Inmet Mining Corporation during the period 1994 to 1996 and by Mantle in 2005, 2006 and 2007 has identified a significant body of baritic-zinc-lead SEDEX mineralization (Cardiac Creek Deposit). The deposit is hosted by variably siliceous, fine grained clastic rocks of the Middle to Late Devonian ‘Gunsteel’ formation.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
MANTLE RESOURCES INC.
PEEYUSH VARSHNEY, LL.B