TORONTO, Feb. 27, 2012 -
Takara Resources Inc. ("Takara" or the "Company") (TSX VENTURE: TKK) is pleased to announce that it has expedited the processing of several saprolite samples collected from a 76 meter long continuous channel sample cut across a stockwork style quartz vein and veinlet stringer-zone in a recently excavated pit having dimensions of approximately 85 meters by 55 meters, and 6 to 7 meters in depth.
Nineteen individual samples were taken at constant 4 meter intervals on the Company's 100% held "14 Mile Prospect", a Prospecting Licence within the northern perimeter of Takara's large Arakaka Project.
The quartz vein stockwork is hosted by north-east striking phyllite dipping from 40 degrees to 70 degrees northwest. The stockwork itself ranges from single centimeter-sized, to thicker decimiter-sized quartz tourmaline veins.
Beyond the pit multiple quartz veins appear in the surrounding saprolite, and extend up to the edge of the currently cleared area, which is approximately 100 meters beyond the current pit limits. It is anticipated that this quartz vein system likely extends into the forest cover where further exploration could be warranted.
Takara, through its wholly owned Guyanese subsidiary company, StrataGold Guyana Inc. commenced an exploration programme in the late fall 2011 which focused on identifying additional gold targets through a methodical regional exploration including line cutting, reconnaissance mapping and soil geochemistry survey on various prospecting licences in its Arakaka Project portfolio.
Dr. Andy Chater, P.Geo., is the Qualified Person who has reviewed and approved the technical contents of this news release for and on behalf of Takara.
Further, Takara announces that (i) it has provided the TSX Venture Exchange with notice of termination of the non-brokered private placement offering, announced November 29, 2011; and (ii) two officers of the Company have stepped down, namely, Ms. Carlissa De Rose, Executive Vice President and Dr. Tania Ilieva, P.Geo., Vice President, Exploration.
Dr. Andy Chater, P Geo., the Company's consulting geologist, has assumed the role of Country Manager, Guyana, and will continue to be responsible for managing the Company's projects in Guyana, both geologically and corporately.
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) consisting of 437,000 ounces gold in an indicated resource of 10,799,000 tonnes having an average grade of 1.3 g/t, and 62,000 ounces gold in an inferred resource of 1,926,000 tonnes having an average grade of 1.0 g/t., for a total resource of approximately half a million ounces gold.
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.
Contact Information
Takara Resources Inc.
Jennifer Boyle, B.A., LL.B., President & Chief Executive Officer
(647) 430-0966 (office)
(416) 904-2714 (cell)
