Toronto, Ontario � Linear Metals
Corporation (TSX: LRM) is pleased to announce assays expanding the
scale of its KM61 discovery through expansion of the Main Zone at depth and
along strike to the northeast with mineralization now confirmed over a
strike length of 1.5 kilometres.
Highlights from the most recent drill results in
the Main Zone include:
K-08-48:
170.5 metres*1 of 0.061%
molybdenum, 0.09% copper, 2.0 grams per tonne silver;
K-08-50:
110.1 metres*1 of 0.069%
molybdenum, 0.07% copper, 2.0 grams per tonne silver;
K-08-54:
90.5 metres of 0.078% molybdenum, 0.05% copper, 1.5 grams per tonne silver;
K-08-65:
91.7 metres*1 of 0.069% molybdenum, 0.07% copper, 2.0 grams per
tonne silver; and
K-08-66:
206.3 metres*2 of 0.079% molybdenum, 0.10% copper, 4.1 grams per
tonne silver.
Notes: *1: reported as Cumulative
Thickness or �CT�, see Note 3 in table below for explanation; *2: 15.35
metres of hole previously reported and with values > 0.50% molybdenum
cut to 0.5%.
At a cut-off of 0.04%
molybdenum, the combined mineralized zones (Main and Southwest) now extend
over 1,600 metres and are up to 350 metres wide, flanked by zones of lower
grade mineralization (0.01 to 0.04% molybdenum) particularly along the
north margin, extending the full width of mineralization to as much as 500
metres. Within the 1,600 metres, there is a 100 metre section, between
the Main and Southwest Zones, where mineralization has yet to be
confirmed. The deposit remains open along strike to the north-east and
at depth, with many holes bottoming in mineralization. Mineralization
has been confirmed from surface to a depth of approximately 300 metres and
a series of three deep holes are planned to test the Main Zone of the
deposit to a depth of approximately 600 metres.
Linear is nearing
completion of a 25,000 metre delineation drill program with results
provided herein from the next 23 diamond drill holes (K-08-47 to K-08-61,
K-08-63 to K-08-69), representing approximately 8,551 metres of this Phase
II drill program, initiated in December 2007, at its 100%-owned KM61
project. The results from approximately 13,700 metres through 39 drill
holes have now been reported from this program.
Composite assay results
for intervals of greater than 0.04% molybdenum are detailed in the tables
below. Please refer to Linear Metals� website for prior drill results
and a drill hole location map.
Table 1. Main Zone
- North Flank and Northeast Extension Results
DDH#
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From
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To
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metres
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Molybdenum %
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Copper %
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Silver grams/tonne
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Comments
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K08-48
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277.50
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304.00
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26.50
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0.053
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0.08
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2.2
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includes
dilution from 6.35 m of dykes, 9.62 g/t Ag and 0.32% Cu over 4.8 m
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311.75
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375.70
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63.95
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0.073
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0.06
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1.8
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abundant
0.X% Mo (see included interval below)
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Including
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349.65
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375.70
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26.05
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0.112
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0.09
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2.3
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406.05
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486.10
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80.05
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0.054
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0.11
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2.1
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includes
dilution from 8.18 m of dykes
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Including
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420.50
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455.25
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34.75
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0.077
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0.14
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2.5
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CT
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277.50
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486.10
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170.5
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0.061
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0.09
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2.0
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K08-50
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258.00
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340.14
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82.14
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0.060
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0.07
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2.2
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includes
dilution from 4.5 m of dykes, uncut = 0.067% Mo
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Including
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289.50
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316.50
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27.00
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0.098
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0.07
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2.6
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and
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334.50
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340.14
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5.64
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0.132
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0.04
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1.2
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369.00
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397.00
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28.00
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0.096
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0.06
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1.5
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Including
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373.50
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385.50
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12.00
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0.178
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0.10
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2.5
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CT
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258.00
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397.00
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110.14
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0.069
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0.07
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2.0
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K08-52
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241.85
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387.17
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145.32
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0.049
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0.06
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1.8
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Including
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256.50
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284.50
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28.00
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0.071
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0.08
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3.0
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and
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304.00
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325.00
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21.00
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0.089
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0.08
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3.0
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K08-54
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173.50
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264.00
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90.50
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0.078
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0.05
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1.5
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Including
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173.50
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211.00
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37.50
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0.148
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0.07
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2.1
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K08-56
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148.50
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171.82
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23.32
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0.046
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0.04
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1.4
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including
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158.50
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170.50
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12.00
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0.060
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0.04
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0.8
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K08-58
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153.50
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218.38
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64.88
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0.047
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0.04
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2.0
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including
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153.50
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185.00
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31.50
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0.057
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0.03
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1.8
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K08-64
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345.00
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351.59
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6.59
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0.076
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0.05
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2.1
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Note
1: Intersections in the table above are based on core length but with all
holes (except K-07-28 and K-08-66) drilled across the dip of the
mineralized zone so that intersection widths are thought to be close to
true widths. Average sample length is 1.5 metres. All high grade
values reported in composites are cut to 0.5% molybdenum. Uncut values
are noted for reference purposes only.
Note
2: Where two or more composites are shown for a hole, most gaps in the
composite values are occupied by lower grade mineralization of 0.01 to
0.04%, or by post-mineral dykes. Post-mineral dykes or low grade
zones of less than 5.0 metres width are included in the composite
calculations. Post-mineral dykes or low grade zones of greater than
5.0 metres width are deemed the end of a mineralized interval.
Note
3: �CT� = cumulative total, the weighted average of all composites with the
width of post-mineralization, waste-rock dykes or low grade zones greater
than five metres in width removed.
Five even numbered holes,
starting with hole K-08-48 and extending 400 metres to the east, to hole
K-08-56, are now the northernmost fence of holes and tested the northeast
flank of the Main Zone. These holes were spaced 100 metres apart and
drilled at -45� to the southeast, undercutting mineralized intercepts in
the next fence of holes located 100 metres to the south and which appear to
continue to surface based on trenching. These new holes successfully
demonstrated the continuity of the mineralization at depth, and along
strike, intersecting mineralization over significant widths, gradually
narrowing toward K-08-56, as detailed below:
� K-08-48 intersected higher grade mineralization
starting at a depth of 277.5 metres, returning a cumulative thickness
(�CT�) of mineralization of 170.5 metres at 0.061% molybdenum, 0.09% copper
and 2.0 grams per tonne of silver;
� K-08-50 intersected 110.1 metres at 0.069%
molybdenum, 0.07% copper and 2.0 grams per tonne of silver (CT) before
bottoming in a late gabbro dyke at depth of 400 metres. This hole will
be deepened to confirm that the mineralization continues beyond the gabbro
dyke;
� K-08-52 intersected 145.3 metres of 0.049%
molybdenum, 0.06% copper and 1.8 grams per tonne silver from 241.9 metres
down hole, before bottoming in lower grade mineralization at 476 metres;
� K-08-54 returned a narrower but higher grade
interval of 90.5 metres of 0.078% molybdenum, 0.05% copper and 1.5 grams
per tonne silver starting at 173.5 metres down hole, including 37.5 metres
of 0.148% molybdenum, and bottoming in lower grade mineralization at 475
metres;
� K-08-56 returned 23.3 metres of 0.046% molybdenum,
0.04% copper, and 1.4 grams per tonne silver indicating a possible pinching
of the zone towards the northeast area of the Main Zone.
� K-08-58, located 100 metres east of K-08-56,
returned a wider 64.9 metre intersection of 0.047% molybdenum, 0.04% copper
and 2.0 grams per tonne silver re-opening the Main Zone towards the
northeast or possibly heralding a new satellite body.
K-08-60 and 64 were also
drilled in the northeast part of the Main Zone, extending the fence of
holes located 100 metres grid south of the fence of holes discussed above.
The holes appear to have overshot the plunge of the Main Zone with
both holes encountering significant thicknesses (multiple intervals, up to
50 metres wide) of lower-grade mineralization (0.01% to 0.03% molybdenum)
and hole K-08-64 also intersecting 6.6 metres of 0.076% molybdenum 0.05%
copper and 2.1 grams per tonne silver. Along with the results for K-08-58,
the chalcopyrite-dominated mineralization in these holes, especially above
and on the flanks of the molybdenum, indicates the potential for additional
molybdenum mineralization at depth and indicates that the northeast area of
the Main Zone may be down-dropped by faulting relative to the bulk of the
Main Zone (opposite to the apparent displacement of the Southwest Zone
relative to the Main Zone). Trenching of the northeast extension to
the Main Zone is in progress in order to better understand its geometry..
Table 2.Main Zone - North Flank to West End Results
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long sections of
0.01 to 0.07% Mo, few 0.X% intervals, includes dilution from 16.8 m of
dykes
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Holes K-08-59, 61, and 63
were drilled to delineate the north margin of the western end of the Main
Zone and appear to have closed the zone off towards the northwest. All
three holes encountered long sections of lower grade mineralization (0.01%
to 0.04% molybdenum) with scattered higher grade intervals, and both hole
K-08-59 and hole K-08-61 had high grade intervals of >0.1% molybdenum
over 5.5 and 12 metres, respectively, at a down hole depth of approximately
300 metres in each hole.
Table 3.Main Zone
-South Flank Results
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uncut Mo = 0.51%, sparse 0.X material
above this interval, but mostly < 0.04% Mo
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Note
1: Previously reported.
K-08-65 tested part of the
south margin of the Main Zone in a drill gap between previous reported
holes K-05-04 and K-07-18. This hole intersected a CT of 91.7 metres
of 0.058% molybdenum, 0.09% copper and 3.3 grams per tonne of silver before
passing into the barren footwall tonalite (FWT). K-08-67, located 100
metres to the southwest, was located in the gap between the Main and
Southwest Zones, and encountered primarily lower grade mineralization
(0.025% molybdenum), except for an 11.1 metre interval of 0.080%
molybdenum, 0.05% copper and 2.0 grams per tonne of silver starting at 312
metres down hole.
K-08-66 was drilled
to the southwest along strike and intersected a previously reported zone of
exceptionally high grade molybdenum (15.35 metres at 1.67% molybdenum uncut
and 0.415% molybdenum cut). Assay results for the balance of the hole
have resulted in a total mineralized interval of 206.3 metres at 0.079%
molybdenum, 0.10% copper, and 4.1 grams per tonne of silver. K-08-68,
drilled steeply to grid south from the same collar as K-08-66, intersected
several seven to eight metre wide zones of >0.1% molybdenum mineralization
within an overall 86.1 metre wide zone of 0.048% molybdenum, 0.06% copper
and 2.5 grams per tonne of silver. Additional holes (assay results
pending) have been drilled into the zone to check the distribution and
continuity of high grade mineralization returned in K08-66 and 68 and first
intersected at depth in K-05-12.
Table 4. Southwest
Zone Results
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includes dilution from
5.7 m of dykes
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sparse 0.X material
throughout hole, but mostly 0.01 - 0.05% Mo
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Note
1: Intersections in the table above are based on core length but are
believed to approximate true widths. Average sample length is 1..5 metres.
Note
2: Where two or more composites are shown for a hole, most gaps in the
composite values are occupied by lower grade mineralization of 0.01 to
0.04%, or by post-mineral dykes. Post-mineral dykes or low grade
zones of less than 5.0 metres width are included in the composite
calculations. Post-mineral dykes or low grade zones of greater than
5.0 metres width are deemed the end of a mineralized interval.
Results from the most
recent seven holes drilled in the Southwest Zone (K-08-47, 49, 51, 53, 55,
57, and 69) have extended the strike length of the zone to approximately
200 metres and potentially joined the Southwest Zone mineralization with
the Main Zone. K-08-69, drilled in the southern area between the
Southwest Zone and the Main Zone, intersected mineralization (0.04% to
0.05% molybdenum) over a CT width of approximately 90 metres. Two
additional holes are planned to test the remaining 100 metre gap between
the zones.
The results also appear to
establish the northern and western boundaries of mineralization within this
zone where mineralization extends over a width of up to 115 metres and a
depth of at least 250 metres. K-08-55, drilled along the northern
boundary of the zone returned an interval of 27.5 metres of 0.045%
molybdenum, 0.03% copper and 1.1 grams per tonne silver including a higher
grade interval of 0.071% molybdenum while K-08-57, drilled 100 metres to
the east, returned an interval of 21.0 metres of 0.049% molybdenum, 0.05%
copper and 1.7 grams per tonne silver, including 9.3 metres of 0.067%
molybdenum. K-07-47, 49, and 53 were all collared in the far west or
north portions of the Southwest Zone, and all intersected weak mineralization
of less than 0.01% molybdenum. K-08-51 was collared off the west end
of the zone, and intersected only barren dacitic tuff.
The KM61 project benefits
from excellent location and infrastructure. The project is located,
east of Armstrong, Ontario, accessible by a 61 kilometre all-weather
logging road, and only 12 kilometres by road from the main CN rail line at
Ferland Station, where there are several rail sidings. Approximately
six kilometres to the east of the project, Ontario Power Generation plans
to complete an 85MW hydroelectric generating station by 2013, which will be
connected to the Provincial power grid.
The technical information
in this press release was prepared under the supervision of Matt Rees,
P.Geo., Chief Geologist, a qualified person as defined by National
Instrument 43-101. Assaying of samples during the 2007-2008 Phase I
and Phase II programs is being performed by ALS Chemex in Vancouver,
British Columbia. Linear has a detailed QA/QC program in place
involving the regular submittal of blanks, duplicates and external
reference standards with the core samples.
In April 2008, Linear
Metals completed a 43-101 compliant resource estimate on its Cobre Grande
project and will also complete a 43-101 compliant resource estimate on its
KM61 project during 2008. For further details on Linear Metals
Corporation and its projects please visit the Company's website at www.linearmetals.com
or contact investor relations at (416) 216-4708, or within North America at
1-866-376-7683.
Brian MacEachen, President
& CEO
The TSX has not reviewed
and does not accept responsibility for the adequacy or accuracy of this
release.
Forward-Looking
Information:
This release includes
certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of
historical facts, that address future production, reserve potential, continuity
of mineralization, exploration drilling, exploitation activities and events
or developments that the Company expects are forward-looking statements.
Although the Company believes that 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-looking
statements. The likelihood of future mining at KM61 is subject to a large number
of risks and will require achievement of a number of technical, economic
and legal objectives, including obtaining necessary mining and construction
permits, completion of pre-feasibility and final feasibility studies,
preparation of all necessary engineering for pits and processing facilities
as well as receipt of significant additional financing to fund these
objectives as well as funding mine construction. Such funding may not be
available to the Company on acceptable terms or on any terms at all. There
is no known ore at KM61 and there is no assurance that the mineralization
at KM61 will ever be classified as ore. For more information on the Company
and the risk factors inherent in its business, investors should review the
Company's Annual Information Form at www.sedar.com.
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