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Navasota Intersects Gold Mineralization at Missamana, Guinea
Navasota Resources Ltd. (NAV:TSX-V) is pleased to announce results of diamond drilling on the Missamana Gold Property, in northeastern Guinea, West Africa. Highlights of the 12-hole, 2469-metre program include 1.73 g/t Au over 24.0 metres in MIS-003, 6.20 g/t Au over 8.0 metres in MIS-004, and 43.97 g/t Au over 4.0 metres in MIS-009. Highlights are presented in Table 1. Navasota has an option to acquire up to a 60% interest in Missamana and Gueliban permits from Mano River Resources Inc., (see Navasota News Release -- October 6, 2004).
Table 1 Missamana DDH Highlights
| Drillhole |
Length
m |
Zone |
|
From
m |
To
m |
Interval
m |
Au g/t |
| MIS-001 |
212 |
Zone 1 |
|
64.0 |
67.0 |
3.0 |
1.31 |
| MIS-003 |
200 |
Contact |
|
137.0 |
161.0 |
24.0 |
1.73 |
|
|
|
incl |
137.0 |
143.0 |
6.0 |
5.36 |
| MIS-004 |
251 |
Contact |
|
20.5 |
25.0 |
4.5 |
2.10 |
|
|
|
|
243.0 |
251.0 |
8.0 |
6.20 |
| MIS-005 |
182 |
Contact |
|
179.0 |
182.0 |
3.0 |
1.71 |
| MIS-006 |
251 |
Contact |
|
206.0 |
210.5 |
4.5 |
2.78 |
|
|
|
and |
218.0 |
224.0 |
6.0 |
1.18 |
| MIS-007 |
167 |
Zone 1 |
|
20.5 |
49.0 |
28.5 |
0.48 |
| MIS-008 |
203 |
Zone 1 |
|
60.5 |
67.0 |
6.5 |
1.19 |
|
|
|
and |
72.0 |
73.0 |
1.0 |
26.70 |
| MIS-009 |
233 |
Zone 4 |
|
120.0 |
124.0 |
4.0 |
43.97 |
| MAD-002 |
155 |
Madou |
|
69.0 |
71.0 |
2.0 |
1.63 |
| MAD-003 |
203 |
Madou |
|
81.5 |
83.0 |
1.5 |
1.10 |
|
|
|
|
131.0 |
132.0 |
1.0 |
2.83 |
Nine diamond drill holes were completed on the Missamana Prospect, including four on the Contact Zone. MIS-004 was drilled 50 metres below MIS-003 on the same southwest directed section, and terminated in mineralization. MIS-005 and MIS-006 were drilled in a similar arrangement on a section 100 metres along strike to the southeast. MIS-005 was also halted in mineralization, as the Contact Zone is not easily identified visually. MIS-001 and MIS-002 tested the north-trending Zone 1 along an east-west fence and intersected several low-grade intervals. MIS-007 tested Zone 1 180 metres further north and MIS-008 tested the same zone 100 metres to the south. MIS-009 intersected the north-trending Zone 4, 150 metres to the east of Zone 1. The Missamana Prospect consists of several steeply dipping quartz vein and pyritic quartz stockwork structures, related to a northwest-trending shear contact between Birimian sedimentary rocks and porphyritic granodiorite.
Three diamond drill holes were also completed on the Madou Prospect, some 7 kilometres east of Missamana. At Madou, two broad quartz stockwork shear zones were tested with 3 diamond drill holes in the vicinity of several large artisanal pits dating back several decades. All 3 holes intersected significant mineralization with the best interval assaying 1.63 g/t Au over 2.0 metres. Given the scale of the artisanal workings and the excellent structural setting confirmed by drilling, Madou remains a high priority target. Work is also planned for the Brouni area, approximately 8 kilometres to the northwest.
Exploration at Missamana and Gueliban by Mano River Resources Inc., during 1996 and 1997 under the supervision of independent technical consultants ACA Howe International, included soil geochemistry, trenching, airborne geophysics, and 4,000 metres of reverse-circulation drilling. Most of the trenching and drilling were completed on the Missamana Prospect, and forms the basis for an indicated resource of 1,063,400 tonnes grading 1.77 grams per tonnes gold equating to 60,520 ounces. This resource calculation was completed prior to the adoption of NI 43-101, and therefore may not comply with NI 43-101 guidelines. Navasota's 2005 program confirmed and expanded upon previous drilling on the Missamana Prospect, and collected geological data to assist in resource modelling. A follow-up drill program is planned for later this fall.
The properties form a contiguous block covering 506 square kilometres of highly prospective Proterozoic Birimian Terrane, which hosts the majority of the large gold mines in West Africa. The property is centred 30 km east of Kankan, a major regional centre in Guinea and 700 km east of Conakry, the capital city of Guinea.
Quality Control and Assurance
Navasota has implemented a rigorous Quality Control / Quality Assurance (QC/QA) program, utilizing standard and duplicate samples, as well as Chain of Custody protocols. Sample collection and handling procedures were continually monitored by qualified on-site staff. Samples are picked up by and transported by truck directly to ABILAB Afrique de l'Ouest facilities in Bamako, Mali. Christopher J. Wild, P.Eng., President & CEO of Navasota, is the Qualified Person for this release.
Principal Terms of the Missamana/Gueliban Property Letter of Agreement
Pursuant to a Letter of Agreement between Navasota and Mano, Navasota may earn an initial 51% interest in the properties by:
- spending US$125,000 over the first 12 months which Mano will match (Phase 1).
- spending US$1,375,000 over a 24 months period following the completion of Phase 1 (Phase 2).
Navasota may, at its option, acquire a further 9% by:
- spending a further US$500,000 over a 12 month period following the completion of Phase 2 (Phase 3).
Navasota shall be the operator of the Phase 1 and Phase 2 programs.
On behalf of the Board of Directors
Navasota Resources Ltd.
Signed
Christopher J. Wild, P.Eng.
President & CEO
Neither the TSX Venture Exchange nor any other regulatory body has approved or disapproved of the information contained herein. |
