VANCOUVER, British Columbia, March 1, 2007 (PRIME NEWSWIRE) -- Harp Sangha, CEO / President of Douglas Lake Minerals Inc. (OTCBB:DLKM) announced their Phase One exploration drill results indicated that three of the Morogoro target areas have showings ranging from 0.18g to 5.82gAu/t.
"We are especially encouraged by the results in the Kigea, Mantandani B and Mungae target areas," stated Harp Sangha. "This is where we will focus additional exploration work to assess the potential for a bulk mineable deposit. Based on the preliminary results, we have determined that the majority of the gold at Morogoro is supergene, secondary reprecipitate. Simply stated, this means the gold is at surface, easy to recover and inexpensive to process."
The Phase One exploration program at the Morogoro property located in the Kilosa District of Tanzania, was initiated with the objective of providing an initial evaluation of the geological potential of a 24 square kilometer area of interest defined by the presence of artisanal mining activity. The wide-spaced diamond drilling program was conducted on seven different target areas (Kiegea, Matandani A and B, Quarry, Safuma A and B, Mkula, Msunguluti, and Mangae). The diamond drilling program was completed on December 7, 2006 and totaled 2,508 meters in 25 drill holes. All of the drill core was delivered to SGS laboratories in Mwanza for analysis. To date, all gold assays have been received from the 25 hole program. Base metal analyses remain outstanding.
The analyses of samples from the 25 coarsely spaced diamond drill holes from the seven areas tested has indicated the presence of anomalous gold values from flat-lying, near surface zones of secondarily reprecipitated gold mineralization, with widths of up to 25 meters. The Kigea, Mungae and Matandani B areas have emerged as having indications worthy of additional exploration.
---------------------------------------------------------------------
Kigea, Mungae and Matandani B Area Drill Results
---------------------------------------------------------------------
Grade
Hole Area From To (gAu/t) Width
=====================================================================
DH06-01 Kigea 0.0 12.0 0.31 12.0
Incl. 6.5 9.0 0.99 2.5
---------------------------------------------------------------------
DH06-11 Mantandani B 15.0 24 1.31 9.0
Incl. 16.0 18.0 5.82 2.0
---------------------------------------------------------------------
DDH06-24 Mungae 18.0 43.5 0.18 25.5
Incl. 19.0 28.0 0.36 9.0
---------------------------------------------------------------------
"The Phase One exploration program has been successful in providing an initial evaluation of the geological potential and will assist us in focusing additional exploration work on the Mungae, Kigea and Mantandani B areas," stated Andrew Lee Smith, CEO of Canaco Resources Inc., Douglas Lake Minerals' partner.
The planning, execution and quality control programs at the Morogoro project are under the supervision of our partner, Andrew Lee Smith, P.Geo., CEO of Canaco Resources Inc. who is a qualified person as defined by National Instrument 43-101.
In combination with the gold at Morogoro being supergene, secondary reprecipitate (at surface and easy to recover), our data confirms that the potential to define a broad near surface source of gold mineralization exists at Morogoro. The completion of the analyses of drill core and the geochemical survey has now defined the focus for subsequent exploration. Additional information and photos from DLKM's Morogoro exploration program are available at http://www.douglaslakeminerals.com/morogorodrill.html
About Douglas Lake Minerals, A Royalty-Based Company
Our vision at Douglas Lake Minerals is to focus on exploring and developing gold, copper, nickel, uranium and diamond mining opportunities in Tanzania, a country with vast amounts of undeveloped mineral-rich natural resources. We are exploring and developing our large portfolio of prospecting concessions through royalty-based joint venture partnerships. Our strategy is to provide investors with considerable upside potential while minimizing future shareholder dilution through our royalty partnerships (www.douglaslakeminerals.com).
NOTE: No Exchange has either approved or disapproved the information contained herein. This news release many contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and risk factors beyond its control; and actual results may differ materially from expected results. The Company will not update forward-looking statements as conditions change. Factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's quarterly and other periodic filings with the SEC.