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File: PAL NR 2019 02 19 - Assays From Mane.docx
PARALLEL MINING RECEIVES ASSAYS FROM DRILLING AT MANE II
Vancouver, British Columbia, February 19, 2019 - Parallel Mining Corp. (TSX-V: PAL) (the "Company" or "Parallel") anno
--->unces that assay results have been received from the recent drilling program designed to test one of the areas of Mane
---> II, the Company's 163 square kilometer optioned concession in the Kaya-Goran greenstone belt in central Burkina Faso,
---> approximately 20 kilometers south of Nordgold's Bissa Gold Mine.
In total, 732 meters in 10 reverse circulation holes were drilled in the southwestern part of the property to test whe
--->ther high grade gold mineralization at surface extends at depth. Historical results from artisanal reject material, sa
--->mpled and reported by High River Gold, include gold grades of 20.0 grams per tonne ("gpt") and 11.2 gpt. In 2017, Para
--->llel Mining conducted a small grab sample program (27 samples) on the artisanal reject material and results included 1
--->6.7 gpt, 12.5 gpt, 7.9 gpt, 6.3 gpt, and 6.0 gpt.
The quartz vein being exploited by the artisanal workers hosted in a felsic intrusive (granite), and Evidence of this
--->veining was noted in most of the drill holes although gold values fluctuated. Significant values from this drilling in
--->clude:
Hole #
Azimuth
Dip
From (m)
To (m)
Interval (m)
Au Grade (gpt)
MRC18-001
360
-50
79.0
82.0
3.0
1.6
incl.
81.0
82.0
1.0
4.61
MRC18-002
360
-50
41.0
44.0
3.0
2.00
incl.
41.0
42.0
1.0
4.59
MRC18-006
180
-50
91.0
95.0
4.0
2.97
incl.
93.0
94.0
1.0
7.98
MRC18-007
360
-50
28.0
30.0
2.0
8.63
MRC18-008
360
-50
26.0
27.0
1.0
1.33
* From cross sectional analysis it is estimated that the true widths approximate 75% of reported widths.
Mane II has several other artisanal workings with high gold values detected in surface sampling which remain untested
--->by drilling. These areas are under review as targets for future work on Mane II.
"We are excited by the hit ratio of the drill holes in this program. This is still early exploration for Parallel on t
--->he Mane II property, so seeing the continued evidence of gold like this is exceptionally encouraging." Commented John
--->Anderson, President and CEO "We look forward to doing further work on this concession, both at this target and at the
--->other zones of interest."
Qualified Person:
Julia Singh P.Geo, an independent Qualified Person under NI 43-101, has reviewed and approved the technical data and
--->contents of this release. Samples obtained during core drilling were transported directly to Actlabs in Ouagadougou (a
---> fully accredited laboratory), Burkina Faso by Parallel Mining personnel for sample preparation. Samples were sorted,
--->dried, crushed and prepped for final chemical analysis using ICP-MS and fire assay methods. Standards, blanks and dupl
--->icates were inserted regularly into the sample stream.
On Behalf of the Board
John Anderson President & Chief Executive Officer T: +1-604-218-7400 E: janderson@parallelmining.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE T
--->SX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this
--->release, other than statements of historical facts, are forward-looking statements. Although the Company believes the
--->expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not
---> guarantees of future performance and actual results or developments may differ materially from those in the forward-l
--->ooking statements. This news release contains historical technical information. The Company believes the technical inf
--->ormation to be relevant and reliable, and there are no more recent estimates or data available to the Company. While t
--->he Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not b
--->een completed on the Mane II property and the quality assurance/quality control process of the historical data could n
--->ot be verified by the Qualified Person.
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