Amanta Resources commences first exploration phase of 200 km2 copper concession area in Lao
11-OCT-2008 Intellasia | Marketwire
Oct 11, 2008 - 7:00:00 AM
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Amanta Resources Ltd (Amanta) (TSX VENTURE:AMH) has commenced the first phase of its exploration programmes at its 200 km2 copper concession area in Luang Namtha Province, Lao PDR.
Amanta's wholly-owned subsidiary, Amanta Lao Co., Ltd, has now set up its corporate office in Vientiane and project offices in Luang Namtha. An exploration base camp has been constructed at a strategic location in the project area, in close proximity to the area where Amanta has discovered high-grade copper-silver and molybdenum mineralised outcrops and float.
Amanta's earlier reconnaissance discovered abundant and striking evidence of copper, silver and molybdenum mineralisation. In one instance a boulder field, displaying large, man-size, boulders of porphyritic acid volcanic float assaying up to 5% copper and 4 oz/t of silver and covering several square kilometres was mapped. High-grade mineralised float has also been seen in small creek beds where the float train was followed to an outcrop of the same mineralised material.
The boulder field is located just south of a large porphyritic intrusive dome with a distinct vegetation anomaly. On the southern edge of the intrusive, a 50 metres thick outcrop of malachite-azurite coated copper-rich material has been observed. Rock chip samples from this outcrop average 2% copper and 4 oz/t of silver. Several other outcrops of the same material have since been mapped and sampled.
To the north of the intrusive, a "wall" of a sulphide rich silicified andesitic breccia can be followed for approximately 100 metres and is up to 20 metres thick. Rock chip samples from this outcrop return assay results of up to 0.8% molybdenum and up to 0.8 g/t gold.
The present project phase includes detailed systematic surface sampling and mapping over a block of about eight square kilometres, representing the presently known area of mineralisation, while broader reconnaissance work will be carried out over the balance of the concession area. This work will be followed by airborne Magnetic and EM surveys and will take about 6 months to complete.
The work underway will assist the Co in determining the extent and nature of the mineralisation discovered to date. The widespread and high grade nature of the mineralisation encountered so far suggests the potential for a very significant mineralised system.
The Copper Mineral Exploration Agreement, granted in June, 2008 by the government of the Lao PDR, gives Amanta exclusive rights over a 200 km2 concession area in Luang Namtha province, northern Laos, some 600 kilometres from Vientiane, the Capital city of the country. The Agreement provides for an initial five-year prospecting, exploration and feasibility study period, which may be extended upon application by Amanta to the government. Amanta holds a 100% interest in the project.
The concession area lies along the Yulong -Luang Namtha polymetallic porphyry belt which hosts a number of mines including the Yulong copper mine, in eastern Tibet, which has a reserve of some 630 million tonnes grading 1.0% copper.
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