Health & Fitness
Health and Fitness
Health and Fitness
Mon, February 23, 2009
Allana Resources Inc.: Allana Resources Appoints Peter MacLean Senior Vice President Exploration
TORONTO, ONTARIO--(Marketwire - Feb. 23, 2009) - Allana Resources Inc. (TSX VENTURE:AAA) ("Allana"), is pleased to announce Dr. Peter MacLean has joined the Company as Senior Vice President, Exploration.
During his 20-year career, Dr. MacLean has focused on Mexico and Venezuela for Monarch Resources Limited and as a consultant for a group of companies including Newmont Mining Corporation, Apex Silver Mines Limited and Hecla Mining Company. In 2003, Dr. MacLean joined Aur Resources Inc. and held a position of Regional Exploration Manager, Mexico until December 2007. During his time in Mexico, Dr. MacLean was instrumental in the acquisition and evaluation of the La Verde Copper-porphyry deposit for Aur and the discovery of the San Agustin Gold-Silver-Zinc deposit for Monarch Resources. Dr. MacLean acquired his Ph.D. at the University of Western Ontario. Dr. MacLean is currently Exploration Manager for Avion Resources Corp. and has been involved in the recent drilling programs at Avion's Segala and Tabakoto projects in Mali, West Africa.
Dr. MacLean will lead Allana's potash exploration program in Ethiopia. He has visited Allana's Potash Project in Ethiopia in 2008 and most recently in January 2009.
The Ethiopia Potash Project is comprised of three mineral concessions in Ethiopia's northeastern Danakil Depression totaling approximately 150 square kilometers. The project area is approximately 100 km from the Red Sea coast and the sea port of Mersa Fatma, Eritrea and 600 km via road from the deep water port of Djibouti. Allana's concessions have an inferred resource estimate of 105,200,000 tonnes of potash mineralization (Sylvite and Kainite) with a composite grade of 20.8 % KCl (see News Release Sept. 17, 2008) that is open along strike and to depth. Potash deposits of the Danakil Depression are unique due to their shallow depth and may be amenable to open pit or solution mining.
Farhad Abasov, Allana's President and CEO, stated: "We are very pleased that Dr. Peter MacLean has joined Allana to spearhead our potash exploration program in the Danakil Depression in Ethiopia. Dr. MacLean is familiar with the project and the country having visited it several times. With the wealth of knowledge and experience that Dr. MacLean brings to the project, we are confident that Allana's exploration program will be conducted in the most efficient and effective manner."
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.
About Allana Resources Inc.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally and recently optioned a previously explored potash property in Ethiopia with 43-101-compliant inferred resources of over 100 million tonnes. Allana has approximately 49 million shares outstanding and trades on the TSX-Venture exchange under the symbol "AAA".
Forward-Looking Statement
Except for statements of historical fact relating to the Company, certain information contained herein constitutes ''forward-looking information'' under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the effect of the appointment on the Company, estimated production, the estimation of mineral reserves and mineral resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; capital expenditures; success of exploration activities; permitting time lines and permitting, mining or processing issues; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; title disputes or claims; litigation liabilities; limitations on insurance coverage and the effect of terminating the investor relations contract. Generally, forward-looking information can be identified by the use of forward-looking terminology such as ''plans'', ''expects'' or ''does not expect'', ''is expected'', ''budget'', ''scheduled'', ''estimates'', ''forecasts'', ''intends'', ''anticipates'' or ''does not anticipate'', or ''believes'', or variations of such words and phrases or statements that certain actions, events or results ''may'', ''could'', ''would'', ''might'' or ''will be taken'', ''occur'' or ''be achieved''. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
