La Manchuria assays lower than anticipated

Assay results from the last five holes drilled on the Manchuria gold-silver property in Argentina did not match results from hole LM-2, Abacus Minerals (AMC-V) has reported.

Hole LM-3 intersected 24.1 metres grading 0.69 gram gold and 131.3 grams silver per tonne, starting at a depth of 10.7 metres. Included within this intercept were two higher-grade intervals: 1.5 metres grading 1.64 grams gold and 1,876 grams silver and 1.1 metres grading 9.54 grams gold and 222.1 grams silver. The hole was collared 400 metres south of hole LM-2, which was previously reported to have hit 58 metres grading 6.53 grams gold and 22.3 grams silver (uncut).

Hole LM-4, collared 330 metres east of LM-2, hit 3 metres grading 0.83 gram gold and 17.7 grams silver, starting at a depth of 79.85 metres.

Hole LM-5, collared 470 metres east of LM-2, hit three mineralized intervals: 1.5 metres grading 2.18 grams gold and 15.2 grams silver, starting at a depth of 19.54 metres; 1.5 metres grading 1.59 grams gold and 2.9 grams silver starting at a depth of 64.54 metres; and 13.1 metres grading 0.28 gram gold and 11 grams silver, starting at a depth of 85.94 metres.

Hole LM-6, collared 150 metres southeast of hole LM-2, hit 87.6 metres grading 0.29 gram gold and 16.3 grams silver, starting at a depth of 7.54 metres. This intercept included 24 metres grading 0.33 gram gold and 25.72 grams silver.

Hole LM-7, collared 330 metres southwest of hole LM-2, failed to intersect any significant mineralization.

The seven-hole drill program focused on a 400-by-700-metre portion of the property that produced both a high resistivity response and anomalous trenching results.

A second-phase drilling program is currently under way at La Manchuria.

Abacus plans to put down six to ten holes and continue to focus its attention around hole LM-2.

Abacus can earn a 100% interest in the project from Barrick Gold (ABX-T) by spending US$2.7 million on exploration. Barrick holds a 50% back-in right and a 3% net smelter return royalty.