January 09, 2009 Metropolitan Announces Assay Results From Phase 1 Drill Program at Fruso Property, Argentina
Vancouver, BC - Metropolitan Mining Inc. ("Metropolitan") (TSX.V: "MNZ") announced today the results from its drilling program on the Fruso Property, Salta, NW Argentina (the "Fruso Property"). Elevated copper values were encountered in three of the four diamond drill holes completed at Fruso. The assays are from samples taken during the 1041.5 metres of drilling carried out by Metropolitan's drilling contractor, Connors Argentina S.A., Boart Longyear ("Connors"), from October 6, 2008 to November 2, 2008 when the Fruso camp was de-mobilized.
A summary of the assay results, as prepared by Kenneth Dawson, Ph. D., P. Geo., of Terra Geological Consultants, Metropolitan's consulting geologist and a "Qualified Person" (under National Instrument 43-101) who oversaw a substantial portion of the work while on site at the Fruso Property, is as follows:
"Four HQ diamond drill holes were drilled at -60º to test combined geological, geochemical and I.P. chargeability and resistivity targets. Significant widths of elevated copper values were intersected in three of the holes, all of which are open to depth. The first two holes (F-08-02 and 02A) were abandoned for technical reasons short of their target 400-m depths.
Hole
From (m)
To (m)
Interval (m)
Average (ppm Cu)
F-08-02
L=72m
14
18
4
375
58
66
8
273
F-08-02A
L=169.5m
80
116
28
289
134
169.5
35.5
548
F-08-03
L=400m
114
130
16
248
188
190
2
2100 (0.21%)
278
292
14
204
316
400
84
332
F-08-04
12
20
8
335
L=400m
150
164
14
268
204
254
50
292
262
270
8
422
300
400
100
350
Copper is present as the secondary minerals neotocite and chalcocite, and primary copper minerals have been oxidized at the depths intersected. Gold values ranged up to 383 ppb or about 0.4 g/t, but averaged about 10 ppb. Mo and Ag values are low. Core samples were assayed at Acme Labs in Mendoza, Argentina using 32-element ICP-ES and Fire Assay on elevated Au samples.
Drill intersections indicate that copper values increase with depth and to the west. Drilling by Rio Tinto in 1998 to the west and northwest of the current drilling intersected similar copper values under a capping of Recent basalt. Additional drilling in this area is recommended".
Metropolitan has the right to earn up to a 60% interest in the Fruso Property from Argentine Frontier Resources Inc. ("AFRI"), Vancouver, B.C., and Salta Exploraciones S.A. ("SESA"), Salta, Argentina, pursuant to an option agreement dated January 31, 2008 (the "Option Agreement"). Recently, AFRI and SESA agreed to amend the Option Agreement and extended the required date of completion of any work carried out by Metropolitan on the Fruso Property in years 2 and 3 from March 31, 2010 and March 31, 2011 to July 31, 2010 and July 31, 2011, respectively.
Metropolitan has made all payments to Connors under the Drilling Contract. The work carried out under the Exploration Program will satisfy the Company's year 1 obligations under the Option Agreement. In due course, Metropolitan will be evaluating its options in regard to further exploration work on the Fruso Property having regard to the U.S./Cdn. Dollar exchange rate, the price of copper, the assay results and the recommendations of Kenneth Dawson.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael G. Thomson, President, CEO & Director
For further information about Metropolitan Mining Inc., please contact:
Michael G. Thomson, ONT.:
(613) 864-4005 (Mobile);
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained in this press release, including information and statements which may contain words such as "could", "plans", "should", "anticipates", "expect", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward-looking information. All of the forward-looking information contained in this press release is qualified by this cautionary statement. There can be no assurance that the actual results or developments anticipated by the Company, as expressed or implied by the forward-looking information, will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the Company or its business operations. The Company disclaims any intention or obligation to update or revise any forward-looking information as a result of new information or future events. Readers should not place undue reliance on forward-looking information.
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