Takara Provides Operations Update at Arakaka Gold Project, Guyana, South America
Press Release
Oct. 17, 2011, 12:20 p.m. EDT
Sourc - Market Watch
TORONTO, ONTARIO, Oct 17, 2011 (MARKETWIRE via COMTEX) -- Takara Resources Inc. ("Takara" or the "Company") CA:TKK -9.09% announces that over the past few months the Company has been working on data compilation of the Arakaka Gold Project, NW Guyana, South America, as well as following up on targets identified by the prior operators, which includes improving the access and infrastructure in furtherance of an extensive sampling, trenching and diamond drilling campaign. The area of the Arakaka Gold property has several historical open pits that have been mined since the early 1900's, and the results from the previous trenching, sampling and drill programs were very encouraging and require further exploration.
Takara commenced an extensive prospecting and geochemical survey program on the underexplored southwest and southeast parts of the Arakaka Gold Project. The program includes soil sampling, "ridge and spur" sampling and trenching. The geochemical survey is combined with reconnaissance mapping in order to evaluate geochemical anomalies and outline targets for further exploration. The main objective is to prepare for an extensive diamond drill program on the underexplored Macaw Gold trend, which will help the Company to evaluate the extent and degree of the gold mineralization and the exploration and mining potential of the Property. Macaw trend is well known for widely spread surface coarse grained gold and multiple artisanal workings. Soil samples have been taken at 50 meter intervals along survey lines and both the grab and soil samples are sent for preparation to Acme Analytical Laboratories Ltd. in Georgetown, Guyana. The samples are analyzed for fire assay and ICP analyses in Acme Analytical Labs in Santiago, Chile. The ACME analytical facilities in Santiago (Chile) and Vancouver (Canada), and the preparation facility in Georgetown (Guyana) are commercial geochemical analysis and assaying labs accredited under ISO 9001 certification.
The second area for a follow up is in the heart of the Arakaka Trend, in the vicinity of the Arakaka village. Despite the presence of the intensive alluvial mining in the area, the project remains largely underexplored. The area is characterized by gold bearing quartz-carbonate veins and veinlets with sulphide mineralization and disseminated gold mineralization in alteration zones, associated with faults and fold structures. Gold mineralization intersected by the previous drilling is associated with intense quartz veining and related alteration in the vicinity of a regional thrust fault, within a deformed metasedimentary package. The previous operator has identified two separate, high-grade quartz veins, both with coarse grained visible gold.
B-22 and B-23 Update
Title to two of the Company's properties, B-22 and B-23, within the Arakaka Gold Project is being challenged by a third party company. Takara has taken initial legal action in an effort to resolve the matter in its favour, and it intends to, where required, vigorously defend its position in this regard. Updates will be provided as additional information becomes available.
About Takara
Takara Resources Inc. is a Canadian based gold company focused on exploring and developing its Guyana gold assets in the Guiana Shield that are held within a wholly-owned subsidiary, StrataGold Guyana Inc., namely: (i) the Tassawini Gold Project (100% interest); and (ii) the Arakaka Project (100% interest).
The Tassawini Gold Project hosts a National Instrument ("NI") 43-101 compliant mineral resource estimate (disclosed in a press release dated March 18, 2010) containing 437,000 ounces gold (Indicated resource 10,766,000 tonnes having an average grade of 1.3 g/t) and 62,000 ounces gold (Inferred resource 1,926,000 tonnes having an average grade of 1.0 g/t).
Statement Regarding Forward Looking Information
This news release of Takara contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Takara's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding Takara's expectations regarding ownership, entitlements, drilling and exploration activities on properties in which Takara has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Takara's expectations. Takara undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Takara Resources Inc.
Jennifer Boyle, B.A., LL.B.
President & Chief Executive Officer
(647) 430-0966 (office) or (416) 904-2714 (cell)
SOURCE: Takara Resources Inc.
Press Release
Oct. 17, 2011, 12:20 p.m. EDT
Sourc - Market Watch
TORONTO, ONTARIO, Oct 17, 2011 (MARKETWIRE via COMTEX) -- Takara Resources Inc. ("Takara" or the "Company") CA:TKK -9.09% announces that over the past few months the Company has been working on data compilation of the Arakaka Gold Project, NW Guyana, South America, as well as following up on targets identified by the prior operators, which includes improving the access and infrastructure in furtherance of an extensive sampling, trenching and diamond drilling campaign. The area of the Arakaka Gold property has several historical open pits that have been mined since the early 1900's, and the results from the previous trenching, sampling and drill programs were very encouraging and require further exploration.Takara commenced an extensive prospecting and geochemical survey program on the underexplored southwest and southeast parts of the Arakaka Gold Project. The program includes soil sampling, "ridge and spur" sampling and trenching. The geochemical survey is combined with reconnaissance mapping in order to evaluate geochemical anomalies and outline targets for further exploration. The main objective is to prepare for an extensive diamond drill program on the underexplored Macaw Gold trend, which will help the Company to evaluate the extent and degree of the gold mineralization and the exploration and mining potential of the Property. Macaw trend is well known for widely spread surface coarse grained gold and multiple artisanal workings. Soil samples have been taken at 50 meter intervals along survey lines and both the grab and soil samples are sent for preparation to Acme Analytical Laboratories Ltd. in Georgetown, Guyana. The samples are analyzed for fire assay and ICP analyses in Acme Analytical Labs in Santiago, Chile. The ACME analytical facilities in Santiago (Chile) and Vancouver (Canada), and the preparation facility in Georgetown (Guyana) are commercial geochemical analysis and assaying labs accredited under ISO 9001 certification.
The second area for a follow up is in the heart of the Arakaka Trend, in the vicinity of the Arakaka village. Despite the presence of the intensive alluvial mining in the area, the project remains largely underexplored. The area is characterized by gold bearing quartz-carbonate veins and veinlets with sulphide mineralization and disseminated gold mineralization in alteration zones, associated with faults and fold structures. Gold mineralization intersected by the previous drilling is associated with intense quartz veining and related alteration in the vicinity of a regional thrust fault, within a deformed metasedimentary package. The previous operator has identified two separate, high-grade quartz veins, both with coarse grained visible gold.
B-22 and B-23 Update
Title to two of the Company's properties, B-22 and B-23, within the Arakaka Gold Project is being challenged by a third party company. Takara has taken initial legal action in an effort to resolve the matter in its favour, and it intends to, where required, vigorously defend its position in this regard. Updates will be provided as additional information becomes available.
About Takara
Takara Resources Inc. is a Canadian based gold company focused on exploring and developing its Guyana gold assets in the Guiana Shield that are held within a wholly-owned subsidiary, StrataGold Guyana Inc., namely: (i) the Tassawini Gold Project (100% interest); and (ii) the Arakaka Project (100% interest).
The Tassawini Gold Project hosts a National Instrument ("NI") 43-101 compliant mineral resource estimate (disclosed in a press release dated March 18, 2010) containing 437,000 ounces gold (Indicated resource 10,766,000 tonnes having an average grade of 1.3 g/t) and 62,000 ounces gold (Inferred resource 1,926,000 tonnes having an average grade of 1.0 g/t).
Statement Regarding Forward Looking Information
This news release of Takara contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Takara's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding Takara's expectations regarding ownership, entitlements, drilling and exploration activities on properties in which Takara has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Takara's expectations. Takara undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Takara Resources Inc.
Jennifer Boyle, B.A., LL.B.
President & Chief Executive Officer
(647) 430-0966 (office) or (416) 904-2714 (cell)
SOURCE: Takara Resources Inc.