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COPYRIGHT 2006 Business Wire
VANCOUVER, British Columbia -- Michael Levy, the President of Petaquilla Minerals Ltd. (TSX:PTQ)(OTCBB:PTQMF)(FWB:P7Z), is pleased to announce that analytical results are now available from ALS Chemex for the first two holes of the 58-hole diamond drilling program at the Molejon gold deposit. The assay values observed in core hole MO-06-01 averaged (weighted) 32.5 g/tonne over the first 8.5 metres. This result confirms historic drilling in core hole MO-95-244, which showed 20.7 g/tonne in the first 12.5 metres, drilled five metres away by Adrian Resources Inc. ("Adrian"), now Petaquilla Minerals Ltd., in 1995. Assays for drill hole M0-06-02 confirm two mineralized zones that were also observed in three neighbouring holes from Adrian's 1994-1995 program.
The 2006 program is primarily designed to provide in-fill and extension drilling on the southern part of the deposit, to assist in the completion of a feasibility study and to confirm the location of the starter pit. Three or more mineralization trends in quartz breccia and silicified andesite breccia extend across the deposit. Ten other core holes have been drilled in the 2006 program but the analytical data are not yet available from the laboratory. These drill holes have intersected numerous quartz breccia zones.
Although the results from only two holes from the current program have been received to date, the results confirm the results of Adrian's 1994-1995 program...
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