FOR
IMMEDIATE RELEASE
HIGH
GRADE MANGANESE DISCOVERY IN NEVADA
February 22, 2008 - Vancouver, British Columbia
Molycor Gold Corp. (the
�Company�) (MOR-TSX.V; Frankfurt-M1V;
Pink Sheets-MLYFF) is pleased to announce the discovery of high grade
manganese grading 35.2% Mn over 15 feet (4.60 meters)in hole #
TM-07-003 during the Phase I drilling program carried out on the Tami-Mosi Gold property located 6.5 miles south of Ely,
Nevada.
Drilling is
complete and all assays have been received for the program which consisted of
14 reverse circulation holes totaling 8,420 feet (2,567 meters) being
drilled into the four identified gold bearing areas located out on the pediment
under the alluvial cover as identified by biogeochemical and geophysical
surveys.
Assays were
performed by ALS Chemex Laboratories, located in Vancouver, B.C.
Significant manganese assays are as follows:
|
Hole #
|
Feet
|
Mn%
|
CU%
|
|
TM-07-003
|
130 - 135
|
34.1
|
NSA
|
|
|
135 - 140
|
40.4
|
NSA
|
|
|
140 - 145
|
31.1
|
NSA
|
|
|
145 - 150
|
1.7
|
2.27
|
Samples from 105
� 125 feet
in hole # TM -07 -003 are being tested in 5 foot intervals for
manganese and barium over limits are being re-assayed.
Hole # TM-07-003 is
located 250 meters
southeast from hole # TM- 07 -009 and has an untested zone with a strike length
of over 1,200 meters,
the next closest hole being hole # TM -07-011.
The old workings
of a small scale past producing high grade manganese mine is located
approximately 600 meters
southeast from hole # TM 07-011 and the mine operated in the early 1900�s and
the manganese was used for steel production during the war effort. Production
figures for this operation are not known or available from the US Geological
Survey.
Manganese is one of the primary ingredients
for the production of steel and there is currently little to no commercial
production in the US.
The exploration
program was originally initiated to test for gold in the four areas to target
the silicified zones contained within the Joanna Limestone and Chainman Shale,
rock types similar to rocks that host other disseminated gold/silver deposits
of northeast Nevada.
The drilling program intersected gold values
within the silicified zones of Joanna Limestone and Chainman Shale contacts and
assays are as follows:
|
Hole #
|
Feet
|
Au grams
|
|
TM
- 07 -002
|
240 - 245
|
1.02
|
|
TM
- 07 -004
|
380 - 400
|
0.17
|
|
TM
� 07 -007
|
50 - 70
|
0.12
|
|
|
70 - 90
|
0.22
|
|
|
90 - 110
|
0.25
|
|
|
110 - 130
|
0.10
|
|
|
130 - 150
|
0.11
|
In light of the new
discovery, the Company is examining the data from the 2006- 2007 field work as
well as the completed drill program to design an extensive drill program to
delineate the manganese zone and further test the gold/copper potential.
This news
release was reviewed by Dick Addison,
P. Eng., a qualified person recognized under the guidelines of NI 43-101.
About Molycor Gold Corp.
Molycor is a
diversified precious and base metal exploration and development company
focusing on molybdenum exploration in British Columbia
and gold exploration in Nevada.
On Behalf of
Management
�Edward Lee�
Edward Lee
President and Director
For all Molycor
Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. IR Hub at http://www.agoracom.com/ir/molycor
where they can post questions and receive answers within the same day, or
simply review questions and answers posted by other investors. Alternatively,
investors are able to e-mail all questions and correspondence to mor@agoracom.com
where they can also request addition to the investor e-mail list to receive all
future press releases and updates in real time.
Visit our
website to watch Larry Reaugh, CEO of Molycor Gold
Corp. interview with Stanlie Hunt of SmartStox Talk Show. www.smartstox.com
Information
Contact
Edward Lee
President & Director
Head
Office: 2A 15782 Marine Drive,
White Rock, B.C. V4B 1E6
Telephone:
604-531-9639 Facsimile: 604-531-9634
Email: info@molycor.com
www.molycor.com
The TSX-Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
|
This message was
sent from Hope Parrish to .com. It was sent from: Adanac
Moly, 2A 15782 Marine Dr, White Rock, BC V4B 1E6, Canada. You can
modify/update your subscription via the link below.
|
|
|
