Referenced Stocks

Manicouagan Minerals Reports Positive Rare Earth Assay Results from Cloridorme Aluminous Clay Property; Begins Drilling Program

By Midnight Trader,  October 31, 2012, 10:54:02 AM EDT

Manicouagan Minerals Inc.  (MAM.V) reportS favourable Rare Earth Elements ( REE ) assay results from its surface sampling program on its Cloridorme property located in the Gaspe Peninsula of Quebec.

Rare Earths

Between June 10 and 22, 2012, a geological sampling program was completed on Manicouagan's 101 claim Eastern Block which is contiguous to the east of Orbite Aluminae's Grande-Vallee property and on strike with its Marin deposit. Thirty nine (39) samples returned significant values of alumina, 17.01% to 22.68% Al2O3.  Five (5) of these samples (3 from outcrops of red mudstones and two from the green mudstones), were analyzed by ALS Canada Ltd. of Val d'Or for REE

The red mudstone samples returned an average of 430 PPM total rare earth oxides (TREO) which is comparable to the TREO. The two green mudstone samples have a lower TREO average of 257 PPM. The aluminum oxide (Al2O3) content for the 5 samples was between 20% and 22.1%.

Drilling

A drilling program commenced on October 29, 2012 with the objective of determining the thickness and potential strike length of the aluminous red argillite formations located by surface mapping and sampling in different sectors of the property. Approximately 6 to 10 holes (600 to 1,000 metres) are planned. The drilling program is being conducted by Forages Dibar of Sainte-Anne-des-Monts.

MAM is now trading at 4.5 cents, up 50% from near yr lows.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: REE



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