VANCOUVER, B.C., Jan. 17, 2007 (PRIME NEWSWIRE) -- Harp Sangha, CEO / President of Douglas Lake Minerals Inc. (OTCBB:DLKM), announced today its joint-venture partner, Canaco Resources provided an update on the progress of the Phase One exploration at their 230 square kilometre Morogoro property located in the Kilosa District of Tanzania.
The Phase One exploration program was initiated with the objective of providing an initial evaluation of the geological potential of the 24 square kilometer area of interest defined by the presence of artisanal mining activity. 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.
"We are encouraged by the potential exhibited at the Morogoro prospect based on the initial results received to date from our partner's first phase of exploration," stated Harp Sangha. "Geological data accumulated from exploration on the property over the past three months continues to define the gold targets and we are eagerly awaiting the interpretation of the complete analytical data from the diamond drilling program."
The exploration program included mapping, sampling and diamond drilling and was conducted on seven different target areas (Kiegea, Matandani A and B, Quarry, Safuma A and B, Mkula, Msunguluti and Mangai). The diamond drilling program was completed on December 7, 2006 and totaled 2508 meters in 25 drill holes. All of the drill core has been logged, and samples from 15 holes delivered to SGS laboratories in Mwanza for analysis. Partial results (gold only) have been received for 7 of the 25 holes drilled. These analyses represent the results from 32% of the total samples submitted for laboratory analysis. To date, results have been received from two of five holes in the Kiegea area, the other six holes are from Matandani A and B, Msunguluti, Safuma A, Quarry and Mkula.
The drill holes at Kiegea are anomalous for gold in the upper 9 meters. MGRDDH 1 reported 0.94 grams per tonne gold (gAut) over 3 meters from 6m to 9m with coarse visible gold at 6.8m. In addition to the drill holes in the Kigea area, analytical data has also been received from chip samples taken on exposed trench walls of artisanal workings. Two chip samples in the vicinity of MGRDDH 1 returned gold values over 1.29 grams gold per tonne gAu/t and 5.61 gAu/t over the 1.2 meters respectively. In addition to gold, the channel samples also returned elevated values in base metals. No base metal analyses for drill core samples have been received to date.
The drill holes at Msunguluti are anomalous in the upper 11 metres. MGRDDH18 reported 0.75 gAu/t over 2 meters from 9m to 11m and 0.50 gAu/t from 6m to 7m. The drill holes at Safuma A are anomalous in the upper 19 meters. MGRDDH15 reported 1.7 gAu/t over 3 meters from 15m to 18m.
In combination with the gold at Morogoro being supergene, secondary reprecipitate, 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 will define the focus for subsequent exploration. To date, the controls on the distribution of near surface gold have not been defined and indications of primary source for the gold mineralization within the gneissic host rocks below the zone of surface oxidation has not been observed. DLKM's partner is continuing with regional mapping and geochemical surveying focused within the 24 square kilometer area defined by artisanal workings.
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. 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.