Monday, October 15, 2007 11:34:38 AM
International Gold Resources, Inc. (Pink Sheets:IGRU) announced today that the Company has discovered a large manganese target on its Cupixi claim block in Amapa State, Brazil. The target is estimated by IGR's geologic consultant in Brazil, Tobias Geotec, to be a minimum of 30 to 50 million metric tonnes of Manganese oxide ore. This estimate is based on projected depths of at least 30 meters. Assumptions were made on mining and processing losses for ore quality upgrades. The surface area delineated is 2 km by 0.7 km. Within this area are several manganese outcrops up to 150 meters in length. Soil samples, trenches, and auger holes were used in delineating the surface area and indicated depth. The estimate is not compliant with Securities and Exchange Commission and Canadian NI43-101 standards. IGR has commenced core drilling and expects to confirm depth and mineralization continuity estimates over the next several weeks.
Mike Michels, IGR's Vice President of Brazilian operations said, "Tobias Geotec is one of Brazil's premier technical consultants. With their support, our own core drilling underway, and the oversight of Behre Dolbear, we are expecting to advance the Cupixi manganese target quickly. The Porto Grande area, where our Cupixi claims are located, is an historic manganese producing area with good infrastructure."
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