MANTLE RESOURCES INC.
FOR IMMEDIATE RELEASE
info@mantleresources.com
2008 WORK PROGRAM COMMENCES AT AKIE PROPERTY
Vancouver, B.C. � Monday, June 23, 2008 � Mantle Resources Inc. (TSX
Venture: MTS; Frankfurt: A0F7E1) (�Mantle� or the �Company)
is pleased to announce that the 2008 diamond drill program has commenced on its
100% owned Akie zinc-lead property in northeastern British Columbia.� The first drill rig has been set up and is
now turning.� A second drill rig is
expected to be operational shortly.� The
2008 Akie exploration program will focus on advancing the Cardiac Creek deposit
via targeted drilling and on discovering additional mineralization elsewhere on
the property.
2008 Cardiac Creek Deposit Drill Program
Although the
Cardiac Creek deposit remains open in all directions, the key objectives of
this year�s drill program are to determine both the updip and on-strike extent
of the deposit as well as to better define the ore body in key areas.� Information gained from this work will assist
in planning for the 2009 exploration program that may include advanced
underground drilling and sampling activities.�
It is anticipated that this year�s drilling campaign will encompass
approximately 10,000 m
of drilling in 15 to 20 holes.
Exploration Elsewhere at the Akie Property
In addition
to the Cardiac Creek deposit drilling noted above, the Company plans to conduct
an exploration drill program along strike of the Cardiac Creek deposit where
historical work combined with recent geological work has identified new highly
prospective targets.
One such
target, a large (200 m
x 1000 m),
open-ended, lead-in-soil anomaly referred to as the �North Lead Anomaly�, is
located approximately 2 km
north of the nearest Cardiac Creek deposit drill hole.� In 1996, this feature was tested with one
drill hole by Inmet Mining Corporation, encountering Gunsteel formation containing 45 m of pyrite-bearing (5% to 12%), siliceous
shale, followed by 0.8 m
wide interval of massive sulphide mineralization consisting of pyrite,
sphalerite and galena.� The massive
sulphide horizon yielded grades of 11.60% zinc and 9.05% lead.� This occurrence may represent a new and
separate hydrothermal cell, possibly leading to another sulphide depositional
centre.
Once the
Cardiac Creek deposit drilling is well advanced, several holes are planned to
test the North Lead Anomaly and other Akie property targets.
Akie
Road Construction
The
new access road construction re-commenced in early June, with clearing and
logging activities having now advanced to approximately kilometer 8.7.� This new road, anticipated to be completed in
September, will facilitate the Company�s exploration plans for this year by
reducing drilling costs, allowing for an extended drill season and safer
working conditions for drilling and related activity.� The new road will support the ongoing
baseline environmental studies and will also provide access for upcoming
potential underground exploration activities.
Regional Exploration
In addition
to the Akie property, Mantle also owns 100% of an extensive (78,526 ha.) regional
exploration land package that covers prospective Gunsteel stratigraphy over a
total distance of 160 km.� These rocks host a number of zinc-lead
showings and occurrences and exhibit numerous gossans indicating the presence
of sulphide mineralization.� During the
next several months, regional exploration will be conducted on these tenures to
identify new targets and crystallize their potential.
�With
the commencement of this year�s exploration program at Akie and the soon to
commence regional exploration, 2008 promises to be an exciting year for Mantle.� We have established a number of key
milestones that will further enhance the value of Akie and our property
portfolio..�
With the confidence gained from the work carried out in 2007 and the
early start to this year�s exploration activity, we believe strongly that new
discoveries can be made,� stated Jim Mustard,
President of Mantle.
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 Company recently filed a
43-101 report supporting the estimated inferred resource of 23.6 million tonnes
grading 7.6% Zn, 1.5% Pb and 13.0 g/t Ag (at a 5% Zn cut off grade).� The complete NI 43-101technical report,
titled �Geology, Diamond Drilling and Preliminary Resource Estimation, Akie
Zinc-Lead-Silver Property, Northeast British Columbia, Canada�
and dated May 30, 2008, can be viewed on SEDAR.
Two similar
deposits, Cirque and South Cirque, located some 20 km northwest of Akie and
owned under a joint venture by Teck Cominco and Korea Zinc, are also hosted by
Gunsteel rocks and have a combined geologic inventory in excess of 50 million
tonnes.
The Akie
property is road accessible year round from Mackenzie and Prince George,
and exploration and other activities are supported by a 50 person, all-weather
trailer camp situated not far from the Cardiac Creek drill area.
Qualified Person
John
R. Fraser, P.Geo. (B.C.), Vice President of Exploration and a Director of
Mantle Resources, is the Qualified Person for the Company, as defined by NI
43-101, and is responsible for the technical information contained in this
release.
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�
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pEEYUSH vARSHNEY, LL.B
CEO & CHAIRMAN