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August 14, 2008 - Halifax, Nova Scotia � Linear Gold Corp. (LRR:TSX) is pleased to report on the progress of drilling at the Ixhuatan project located in Chiapas, Mexico. Kinross Gold Corporation (K:TSX) is earning an interest in the project from Linear and has provided Linear with its second quarter 2008 report of activities from work at the Ixhuatan project.
Highlights during the quarter include two holes, IXCM08-51 and IXCM08-54, drilled at Cerro la Mina that returned wide intervals of gold, silver, copper and molybdenum mineralization. The two holes are approximately 80 metres apart and were drilled vertically in the central area of Cerro la Mina where no deep drilling had previously been completed. The results from these two holes are as follows:
|
Drill Hole Number |
From
m |
To
m |
Interval
m |
Gold
g/t |
Silver
g/t |
Copper
% |
Molybdenum
% |
|
IXCM08-51 |
1.45 |
602.89 |
601.44 |
0.68 |
2.7 |
0.28 |
0.03 |
|
IXCM08-54 |
1.04 |
142.00 |
140.96 |
0.42 |
1.9 |
0.04 |
- |
|
IXCM08-54 |
169.00 |
595.27 |
426.27 |
0.58 |
0.7 |
0.14 |
- |
|
including |
533.00 |
595.27 |
62.27 |
1.31 |
0.9 |
0.26 |
- |
Hole IXCM08-51 was collared 50 metres to the southwest of previously reported hole IXCM06-06 (117.90 metres grading 1.60 grams per tonne gold and 0.45% copper from 8 meters depth) to test the center of the hydrothermal breccia zone mapped on surface. The hole intercepted hydrothermal breccias associated with advanced argillic alteration where high grade gold results were outlined during surface sampling. The gold assay results are consistent throughout the length of the hole, intersecting 601.44 metres of sulphide mineralization grading 0.68 grams per tonne gold and 0.28% copper and the hole bottomed in mineralization.
Hole IXCM08-54 was drilled 80 metres to the west of hole IXCM08-51 in an area where no deep drilling had previously been completed to test the extent of mineralization at western Cerro la Mina. The geology consisted of dacite lapilli tuff cut by numerous diorite intrusive dikes, moderately argillic altered. The dikes range in width from 1.0 to 106.0 metres and the mineralization consisted of fine disseminated pyrite throughout the hole, with scattered chalcopyrite (<1%) intervals. The hole intersected two mineralized zones, separated by a narrow low grade zone. The lower zone, 169.00 to 595.27 metres, returned 0.58 grams per tonne gold and 0.14% copper. The lower zone included a 62.27 metre interval from 533.0 metres to the end of the hole at 595.27 metres grading 1.31 grams per tonne gold and 0.26% copper and bottoming in mineralization.
A soil geochemistry survey covering the area between Cerro la Mina and Caracol was completed near the Central Anomaly, an area with sparse historical sampling. A total of 482 samples were collected and full results have been received. The sample results highlight an encouraging cluster of anomalous gold values of greater than 1.0 grams per tonne centered on the Central Anomaly and extending the zone southwards a further 200 metres to a total length of over 500 metres. The general trend of the anomaly is oriented northwest. A second cluster of anomalous gold results, with values ranging from 0.1 to 1.0 grams per tonne was identified approximately 750 metres to the north, displaying a north orientation.
A total of nine holes are planned on the Central Anomaly to test the extent of known mineralization identified during historical drilling, recent positive soil sampling results and previously untested chargeability I.P. geophysical anomalies in the area.
Geological mapping of target areas including Cerro la Mina, San Isidro, Laguna Grande, Laguna Chica, the Central Anomaly and Caracol was ongoing during the quarter and is expected to be completed in the current quarter.
Construction of a road connecting Cerro la Mina to Caracol, to the north, was initiated in May and is expected to be completed by the end of August. The road will provide vehicle access to Caracol, an area currently accessible only by foot, and allow for advanced exploration to be completed at Caracol.
.
Plans for the upcoming quarter also include the continued drilling of identified targets and continued surface rock and soil sampling and mapping surveys to define new drill targets.
Howard Bird, Linear�s Vice President of Exploration, states �I am delighted with the further expansion of the mineralization at Ixhuatan and the recent vertical deep drilling at Cerro la Mina which returned consistent gold, silver, copper and molybdenum mineralization to a depth of over 600 metres below surface. We look forward to receiving results from the more than 1,600 samples currently being analyzed and the continued testing of new and existing targets, with two drill rigs currently on site. I am also pleased with the strong working relationship that has developed between Linear and Kinross as we continue to advance the Ixhuatan project.�
The Ixhuatan project currently hosts numerous target areas, including the Campamento gold deposit, Cerro la Mina, San Isidro, the Central Anomaly, Caracol, Western Anomaly, Laguna Grande and Laguna Chica. The targets sit in a 25 by 15 kilometre trend that contains geologic characteristics to suggest that additional deposits are possible.
This press release has been prepared under the supervision of Mr. Philip Pyle, Certified Professional Geologist serving as the qualified person for this project under National Instrument 43-101. All samples were submitted to ALS Chemex Labs in Guadalajara, Mexico with gold analysed by 50g charge digestion Fire Assay � AA finish. Other metals were analysed by aqua regia digestion with ICP finish.
Linear Gold Corp. actively explores for gold and base metal deposits in Brazil and through joint ventures with Kinross Gold in Mexico and Everton Resources in the Dominican Republic.
Signed �Wade K. Dawe�
Wade K. Dawe, President & CEO
This news release contains �forward-looking statements�. Such forward-looking statements, especially those that address resource quantities, grades, and contained metals, are generally made on the basis of estimation and extrapolation from a limited number of drill holes and metallurgical studies. Where the company expresses or implies an expectation as to future events or results, such expectation or belief is expressed in good faith and is believed to have a reasonable basis for the statement. However, forward-looking statements are subject to risks and uncertainties which could cause actual results to differ significantly from future results expressed or implied. These risks include, but are not limited to, metal price volatility, political and operational risks in the countries where we operate, and a degree of uncertainty in connection with evaluating a deposit until the deposit has been extensively drilled on closely spaced centres.
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