McLaren Drills 13.95 g/t over 2 meters at Blue Quartz, East Timmins Deepest Hole Indicates Mineralization at Depth Significantly Expands
Significant Results Include:
HOLE # FROM (m) TO (m) WIDTH (m) GRADE (g/t) G*W
MBQ-11-07 77.26 78.26 1.0 13.3 13.30
MBQ-11-09 341.7 343.7 2.0 13.95 27.90
and 367.0 374.0 7.0 1.34 9.4
MBQ-11-10 155.57 158.67 3.1 5.51 17.08
Includes 155.57 156.89 1.3 10.5 13.86
and 351.00 414.00 63.0 1.21 76.06
Includes 357.00 361.00 4.0 5.56 22.24
Includes 358.00 359.50 1.5 12.8 19.20
Geotechnical Update
Diamond Drill holes MBQ-11-9 and 10 were among the 2 deepest holes drilled to date on the property and intersected a wide interval of hydrothermal alteration with gold mineralization that include a substantial width of lower grade mineralization, 1.21 grams per tonne gold over 76.06 meters as well as a higher grade core of 12.8 grams per tonne gold over 1.5 meters. These 2 holes were located at the west end and below the historic underground workings as well as to the west and below the majority of the limited drilling completed on the property to date. To date the mineralized zone is open to depth and down plunge with indications that the hydrothermal alteration system is increasing in intensity along with both the grade and width of the mineralization
McLaren President and CEO commented: "These results indicate that considerable potential exists at depth on the Blue Quartz Mine Property"
About The Blue Quartz
The Blue Quartz property is located in the gold producing area 70 km east of Timmins where several current and past producing mines are located. The property consists of 25 patented mining claims, covering 400 hectares (4 square kilometers) of Early Precambrian, situated on gold mineralized geological structures within the Abitibi Greenstone Belt. The Blue Quartz mine is located in the north central part of Beatty Township and is approximately 8 kilometers northwest of the producing Black Fox Mine, 12 kilometers northwest of the producing Hislop Mine and 14 kilometers northwest of the former producing Ross Mine.
Option Agreement
On December 7th McLaren and Red Mile Minerals Corp.,("Red Mile") entered into and Option Agreement whereby McLaren can earn a 50% interest in The Blue Quartz gold property, with McLaren having the right of first refusal on the remaining 50% interest. McLaren can earn a 50% interest in the Blue Quartz Property by making a C$10,000 cash payment (paid on signing) and spending C$200,000 in exploration and development expenditures on this property on or before September 1, 2011. Any shortfall in expenditure below $200,000 can be made up with a cash payment to Red Mile.
Qualified Person
All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person for McLaren Resources, who has reviewed this news release.
All drilling was completed using NQ size core. Gold analysis of the samples collected by McLaren was assayed by ALS Chemex. Analysis consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 10.0 grams gold per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance Program (QA/QC) is in place, using control samples such as blanks and duplicate checks. In addition, duplicate analyses of 10% of the samples are corroborated by check assays performed at a third Party Laboratory.
McLaren Resources Inc. is a Canadian based junior exploration company engaged in the exploration of mineral properties with a focus on gold in Canada.
Contact Information:
Ivan Buzbuzian
President and CEO
McLAREN RESOURCES INC.
65 Queen Street West, Suite 520
Toronto ON, M5H 2M5
Tel.: 416-203-6784/ Fax: 416-368-1539
E-mail: ibuzbuzian@mclarenresources.com
For more information visit our web site at www.mclarenresources.com or contact Ivan Buzbuzian, President and CEO of McLaren Resources, at 416-203-6784 x 4850.
The Canadian National Stock Exchange has neither approved, nor disapproved on the contents of this press release.
Certain statements contained in this press release constitute "forward looking statements". These statements are based on current expectations of management, however are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. The Company does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.