[meteorite-list] Mining Maricouagan

From: Paul H <bristolia_at_meteoritecentral.com>
Date: Sat Dec 25 11:25:34 2004
Message-ID: <20041225162532.23704.qmail_at_web50608.mail.yahoo.com>

I found the below note in the otherwise dry
world of financial announcements.

Manicouagan Minerals Inc. announces closing of
its public offering and listing on the TSX
Venture Exchange
http://www.newswire.ca/en/releases/archive/December2004/23/c8616.html

"The Corporation is engaged in the exploration of the
Manicouagan meteorite impact crater in central Quebec.

These efforts have been concentrated on seeking
prospective areas of nickel-copper-platinum group
mineralization. The Corporation believes that the
similarities between the Manicouagan crater and the
Sudbury mining district are of a significant enough
technical merit to warrant an extensive exploration
program. Less than 5% of the crater has been explored
to date and geophysical surveys have identified four
deep magnetotelluric anomalies, which are located
toward the center of the Manicouagan crater. The
Corporation has accumulated rights to claims
totalling in excess of 1,300 square kilometres in
the crater area."

Another news release, of November 2004, which I found
was:

"News release via Canada NewsWire, Toronto
416-863-9350
Attention Business Editors:
Manicouagan Minerals Inc. - Drill Results Provide
First Evidence of Nickel and Copper at Depth at the
Baie du Nord Project in the Manicouagan Crater"

This press release stated that in drill holes they
found nickel
and copper at depth consistent with base-metal rich
sulphide
mineralization, which occurs in surface outcrops
within the
Manicouagan impact crater. According to the press
release,
drilling found "significant" "base-metal values"
within
metagabbro sills intruded into foliated feldspar
hornblende
gneiss country rock.

It sounds someone has taken the idea of exploring for
impact
associated mineral deposits in "virgin" impact craters
quite
seriously. I guess only time will tell whether the
shares in
this company will become collectibles or prove to be
visionary
application of the study impact processes.

It seems like that known commercial base-metal
deposits
associated with impact craters were only determined to

be associated with an impact crater after the mineral
deposits
were found. Is this the first time that someone has
gone to
an impact crater with no known ore deposits and gone
prospecting for them since Barringer’s ill-fated
attempts
at Barringer Crater?

The official paperwork on it can be found at:

http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00017383
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00017383

Best regards,

Paul
Baton Rouge, LA



                
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Received on Sat 25 Dec 2004 11:25:32 AM PST