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February 20, 2008 - Halifax, Nova Scotia – Linear Gold Corp. (LRR:TSX) is pleased to report on the progress of drilling at the Ixhuatán project, Chiapas Mexico. Kinross is earning an interest in the project from Linear and has provided Linear with its first quarterly report of activities from work on the project.
Highlights of work during the quarter include the results from Hole IXCM07-44 which expands the Cerro La Mina deposit at depth to the northeast and Hole IXSI07-01 which has identified a new gold zone at the San Isidro target area, located one kilometre to the southeast of the Cerro La Mina deposit. Results from these two holes are as follows:
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Hole
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From (metres)
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To (metres)
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Thickness (metres)
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Gold g/t
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Silver g/t
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Copper %
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Molybdenum %
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IXCM07-44
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0.0
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290.0
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290.0
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0.8
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4.5
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0.21
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0.04
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Including
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0.0
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110.0
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110.0
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1.0
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7.0
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0.02
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0.05
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Including
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124.0
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290.0
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166.0
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0.8
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2.7
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0.35
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0.04
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Including
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256.0
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290.0
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34.0
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2.5
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1.6
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0.57
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0.05
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IXSI07-01
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278.0
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348.0
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70.0
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1.1
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1.2
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Hole IXCM07-44 was collared near the site of hole IXCM06-09 and drilled in a north-easterly direction. The results indicate an expansion of both near surface oxide mineralization and deeper sulfide copper-gold mineralization to the northeast. The hole appears to have drilled the footwall of a northeast-dipping fault structure interpreted to off-set mineralization on the hangingwall side. True thickness of the mineralized interval is unclear, therefore several follow-up holes will be drilled in the opposite direction of IXCM07-44 to pinpoint the location of the fault and test possible depth extensions of the mineralized zone in the footwall.
Angled drill holes at Cerro La Mina have cut through a hydrothermal breccia hosting oxide and sulfide mineralization, but have not yet tested the roots of the breccia body. Several holes will be programmed to drill through the core and roots of the breccia testing for deeper mineralization. In addition, a number of holes will be drilled outboard of the currently defined northwest trending mineralized corridor at Cerro La Mina. The objective of this drilling is to test possible lateral extensions of the Cerro La Mina mineralized zone.
Hole IXSI07-01 was collared in the San Isidro target area, located one kilometre to the southeast of the Cerro la Mina deposit. The hole was designed to test anomalous values obtained from an induced polarization survey (IP) carried out by Linear in 2007. The results indicate that gold is associated with a sedimentary unit which correlates well with the IP chargeability target. Further testing is being carried out along the strike of the anomalous zone where the predicted depths are shallower, and results are pending. Gold mineralization intersected in hole IXSI07-01 at San Isidro may represent a new
hydrothermal centre or the margins of the Cerro La Mina hydrothermal system. Results of follow-up drilling will help determine the significance of this new mineralized gold zone.
Hole IXCM07-44 was sited and initiated by Linear, and completed by Kinross. Hole IXSI07-01 was completed by Linear before the transition to Kinross of management of the project. Assay results for both holes were just recently completed at ALS Chemex. Kinross reports that a total of ten holes were completed during the final quarter of 2007 for a total of 2048 metres, with most holes still with assays pending due to laboratory delays.
A clay mineralogy study has been undertaken of the Cerro La Mina system and will become part of a PhD study out of the University of Tasmania. Kinross also reports that it plans a six month 7,500 metre drill program focused on the Cerro La Mina and San Isidro zones during early 2008. Also planned are the construction of an access road into the Caracol target area, relogging of cores from previously drilled areas, and an infill soil geochemistry survey between the Cerro La Mina and Caracol zones.
Wade Dawe, Linear’s President and Chief Executive Officer states: “Systematic exploration of the Ixhuatán project is continuing and we are encouraged by these drill results. We are pleased with the excellent relationship developed with Kinross and the aggressive exploration program that is planned.”
This press release has been prepared under the supervision of Mr. Philip Pyle, Certified Professional Geologist and Linear’s Vice President, Business and Corporate Development, who serves as the qualified person for these projects under National Instrument 43-101.
Linear Gold Corp is actively exploring for gold and base metal deposits in Mexico and Brazil, and also 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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