VANCOUVER, BRITISH COLUMBIA – November 15, 2013 – Oakmont Minerals Corp. (formerly Oakmont Capital Corp.) (TSXV: OMK) (the “Company”) announces it has carried out a rock sampling and mapping program on its four properties located in Utah held by its wholly-owned subsidiary Utah Manganese Inc., the results of which are reported herein. The Utah Manganese Inc. properties consist of 150 mineral claims totalling 1,250 hectares located 25 to 50 kilometres from Moab, in southeast Utah.
The aim of the sampling program was to identify manganese-mineralized zones on the properties with volume potential to support small to medium-scale extraction and with geochemical characteristics (high manganese, low phosphorous and sulphur) suitable for use in specialty high-strength steel production, either “as extracted” or subsequent to upgrading.
Chip samples of surface exposures and mineralized zones exposed in trenches and underground workings were collected in addition to composite samples from historical mine dumps and stockpiles. In some cases dump samples were screened to reject, generally non-manganese, coarse material. Samples were collected over widths wherever possible in order to assist in volume estimations and to allow reporting of grade over width.
Highlights of the recent sampling program are provided below in Table 1. A wide range of manganese content, from 0.13% to 30.20% and averaging 8.92%, was observed in the suite of samples collected. Sulphur ranged from 0.01% to 0.94%, averaging 0.20% and phosphorus ranged from 0.01% to 0.09%, averaging 0.03%. In general phosphorus levels were low in samples from all four properties, however, sulphur was elevated above 0.10% in most samples collected from all but the Flat Iron property, where it averaged 0.030%.
The Company then selected several samples for sulphur species tests which indicated that the majority of the sulphur occurs as sulphate rather than sulphide.
Due to the lower overall sulphur content in the samples from the Flat Iron property, it is being considered first for upgrading testwork to determine if manganese can be concentrated to greater than 40% while maintaining low phosphorus and sulphur and rejecting silica. The appropriate methodology and scope of this work is currently being determined as well as the economic viability of this work.
The Utah Manganese Properties are located within the northern Pennsylvanian to Cretaceous Paradox Basin. The northern Paradox Basin consists of a series of approximately parallel northwest-southeast trending faults, anticlines, and synclines. Manganese oxide mineralization occurs as lens-like stratabound replacement bodies and associated manganese nodules of variable thickness and strike extent (Duma Point and Dubinky Well properties); or as fault gouge hosted lenses (Moab Fault Property) and brittle fault hosted vein-fracture infill (Flat Iron Property). Strata-bound bodies often occur proximal to or may partially-completely replace thin limestone or sandy limestone beds, of the Middle Jurassic Summerville-Tidwell interval. Manganese deposits of the “Little Grand District” were exploited between 1901 and 1940.
The Company followed industry standard procedures for the work carried out on the Utah Manganese Inc. properties. One blank and one standard sample were analyzed for quality assurance/quality control (QA/QC) purposes in addition to the QA/QC protocols followed by the laboratory. The Company detected no significant QA/QC issues during review of the data.
Samples were prepared at ALS Minerals in Sparks, Nevada and analyses of the samples were performed by ALS Minerals in North Vancouver, British Columbia, an internationally recognized analytical services provider. Samples were analyzed by XRF/Fusion, reported oxides converted to elements, and C was determined by Leco Analyzer. The technical information contained in this release has been prepared and reviewed by Dr. David A. Terry, P.Geo., director and Technical Advisor to Oakmont, and a Qualified Person as defined in National Instrument 43-101.
About the Company
The Company is a natural resource company engaged in the acquisition, exploration and development of mineral properties, with its primary focus on manganese properties in Utah.
ON BEHALF OF THE BOARD OAKMONT MINERALS CORP.
Per: “Fraser Atkinson” Fraser Atkinson
Chief Executive Officer, Chairman and Director
For further information, please contact:
Fraser Atkinson Phone: 604.220.8048
Oakmont Minerals Corp.
910 – 355 Burrard Street,
Vancouver, B.C.
V6C 2G8
Fax: 604.683.2965
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Disclaimer for Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “believes” and words of similar import also identify forward-looking statements. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
