September 3, 2008 � Toronto, Ontario � Linear Metals Corporation (TSX: LRM) is pleased to announce drill core assays confirming lateral continuity of the 6B, 17 and 23 zones, representing attractive starter pit opportunities as high grade, near surface target areas recognized to date within the Main Zone of the KM61 Project.
Highlights from the most recent drill results in the Main Zone include:
� K08-93 (6B Zone): 96.3 metres of 0.081% molybdenum (0.097% uncut), 0.07% copper and 2.5 grams per tonne silver starting at 28 metres;
� K08-96 (17 Zone): 99.9 metres of 0.087% molybdenum (0.098% uncut), 0.09% copper and 3.0 grams per tonne silver (starting at 51.5 metres); and,
� K08-97 (17 Zone): 125..5 metres of 0.073% molybdenum, 0.11% copper and 3.3 grams per tonne silver starting at 23.5 metres.
Linear is also pleased to announce that based on the encouraging results received to date from the KM61 Project, it is expanding the original 25,000 metre delineation drill program to 28,000 metres. Two drills continue operating at the project with one drill targeting in-fill areas of expected near-surface mineralization and the second drill continuing to test the heart of the Main Zone at depth.
Composite assay results for the intervals of greater than 0.04% molybdenum in holes K08-87 to K08-97 are detailed in the table below. Please refer to Linear Metals� website at www.linearmetals.com for prior drill results and a drill hole location map.
Table 1. Results
|
DDH# |
From |
To |
Metres1 |
Molybdenum % |
Copper
% |
Silver grams/tonne |
Comments |
|
K08-87 |
71.0 |
93.0 |
22.0 |
0.044 |
0.05 |
2.1 |
NE Extension |
|
including |
79.0 |
89.0 |
10.0 |
0.077 |
0.06 |
2.7 |
|
|
|
|
|
|
|
|
|
|
|
K08-88 |
83.0 |
98.0 |
15.0 |
0.044 |
0.05 |
1.6 |
66 Shoot Zone |
|
|
|
|
|
|
|
|
|
|
K08-89 |
86.0 |
130.5 |
44.5 |
0.051 |
0.06 |
1.2 |
�gap� |
|
|
|
|
|
|
|
|
|
|
K08-90 |
104.0 |
165.0 |
61.0 |
0.053 |
0.06 |
2.6 |
�gap� |
|
|
202.5 |
212.5 |
10.0 |
0.040 |
0.10 |
3.0 |
|
|
|
224.5 |
240.8 |
16.3 |
0.058 |
0.07 |
3.0 |
|
|
|
|
|
|
|
|
|
|
|
K08-91 |
63.62 |
94.21 |
30.59 |
0.054 |
0.07 |
1.3 |
23 Zone |
|
including |
63.62 |
71.00 |
7.38 |
0.105 |
0.07 |
1.2 |
|
|
|
|
|
|
|
|
|
|
|
K08-92 |
3.90 |
49.62 |
45.72 |
0.044 |
0.07 |
2.2 |
23 Zone |
|
|
55.00 |
61.00 |
6.00 |
0.150 |
0.21 |
4.7 |
|
|
|
106.00 |
114.05 |
8.05 |
0.059 |
0.08 |
1.9 |
|
|
|
|
|
|
|
|
|
|
|
K08-93 |
28.08 |
124.40 |
96.32 |
0.081 |
0.07 |
2.5 |
6B Zone; 0.097% Mo uncut |
|
Including |
34.00 |
68.00 |
34.00 |
0.109 |
0.07 |
2.9 |
0.155% Mo uncut |
|
including |
97.00 |
122.5 |
25.50 |
0.100 |
0.06 |
1.6 |
|
|
|
|
|
|
|
|
|
|
|
K08-94 |
53.50 |
62.40 |
8.9 |
0.078 |
0.07 |
2.9 |
66 Shoot |
|
including |
58.00 |
59.40 |
1.4 |
0.383 |
0.09 |
4.3 |
|
|
and |
83.61 |
97.50 |
13.89 |
0.072 |
0.06 |
2.5 |
|
|
including |
90.50 |
97.50 |
7.0 |
0.112 |
0.06 |
2.5 |
|
|
|
|
|
|
|
|
|
|
|
K08-95 |
65.2 |
67.0 |
1.8 |
0.232 |
0.07 |
2.1 |
66 Shoot |
|
|
|
|
|
|
|
|
|
|
K08-96 |
4.4 |
8.5 |
4.1 |
0.074 |
0.05 |
1.7 |
17 Zone |
|
|
26.17 |
35.00 |
8.83 |
0.057 |
0.03 |
0.9 |
|
|
|
51.5 |
151.4 |
99.9 |
0.087 |
0.09 |
3.0 |
0.098% Mo uncut |
|
including |
71.00 |
84.5 |
13.5 |
0.108 |
0.09 |
3.5 |
|
|
including |
92.0 |
124.0 |
32.0 |
0.155 |
0.11 |
3.9 |
0.191% Mo uncut |
|
|
162.05 |
169.73 |
7.68 |
0.145 |
0.11 |
3.3 |
|
|
|
|
|
|
|
|
|
|
|
K08-97 |
4.00 |
149.00 |
145.0 |
0.069 |
0.11 |
3.4 |
17 Zone |
|
including |
23.5 |
149.0 |
125.5 |
0.073 |
0.11 |
3.3 |
|
|
including |
58.0 |
95.5 |
37.5 |
0.100 |
0.14 |
4.66 |
|
|
|
|
|
|
|
|
|
|
|
K08-101 |
14.7 |
123.1 |
108.4 |
0.053 |
0.05 |
1.7 |
|
|
including |
14.7 |
20.5 |
5.8 |
0.113 |
0.07 |
2.1 |
east extension of 73 Zone? |
|
|
86.0 |
96.8 |
10.8 |
0.091 |
0.06 |
1.9 |
east extension of 23 Zone? |
|
|
|
|
|
|
|
|
|
|
K08-102 |
16.8 |
37.3 |
20.5 |
0.044 |
0.04 |
1.4 |
|
|
|
42.0 |
65.0 |
23.0 |
0.044 |
0.05 |
1.3 |
|
Note 1: Intersections in the table above are based on core length, but with holes drilled at -45 degrees across the dip of the mineralized zone, the intersection widths are thought to be approximately 80% of true widths. Average sample length is 1.5 metres. All molybdenum values >0.5% 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, gaps in the composite values are occupied by lower grade mineralization of 0.01 to 0.04%, or more often 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.
6B Zone
The 6B zone is one of the two most promising near surface higher grade zones, and has been further tested by hole K08-93, which was drilled 20 metres to the east of trench 6B, and 50 metres up dip of previously reported hole K08-78 which intersected 225 metres of 0.063% molybdenum. Hole K08-93 returned 96.32 metres of 0.081% molybdenum including a 34 metre higher grade, near surface intercept of 0.109% molybdenum. Previously reported holes K08-42, located 50 metres to the west, and starting at 7 metres, intersected 69.5 metres of 0.073% molybdenum, while K08-44, located 50 metres to the east, and starting at 11.9 metres, intersected 64.8 metres of 0.057% molybdenum.
17 Zone
The 17 Zone, another promising near surface higher grade zone, has now been encountered in four holes with the original holes K07-16 and 17 intersecting 86.3 metres of 0.075% molybdenum starting at 128.7 metres, and 103.35 metres of 0.105% molybdenum starting at 25.95 metres respectively. Holes K08-96 and 97 are located 50 metres apart, on opposite sides of holes K07-16 and 17 which were drilled from the same site between K08-96 and 97 at -45 and -70 degrees respectively. The most recent holes confirm the presence of stronger than average grade in the near surface with hole K08-96 intersecting 99.9 metres of 0.087% molybdenum starting at 51.5 metres, and hole K08-97 intersecting 125.5 metres of 0.073 % molybdenum starting at 23.5 metres.
23 Zone (and 73 Zone)
K08-91 and 92 returned intervals of 7.38 metres of 0.105% molybdenum and 6.0 metres of 0.150% molybdenum from the 23 Zone respectively, comparable to the previously reported 9.5 metre mineralized width of 0.102% molybdenum encountered in K07-23 that started at a depth of 4.0 metres. Holes K08-91 and 92 were drilled 25 metres on either side of Hole K07-23, but stepped back by 25 metres, and so encountered the higher grade mineralized zones at deeper levels of 63.62 metres and 55.0 metres respectively.
Hole K08-101 was drilled 75 metres east of K08-92, to extend the 73 and 23 Zones, and possibly help to connect these zones with the 6B Zone. The hole encountered two zones of significant mineralization that appear to correspond to the 73 and 23 zones: 5.8 metres of 0.113% molybdenum, and 10.8 metres of 0.091% molybdenum respectively. These higher grade sections are hosted within an overall intercept of 108.4 metres of 0.053 metres, which is a significant step-out result in this area of the Main Zone. An additional hole, K08-102, was collared 50 metres further east of K08-101, but it did not intersect any higher grade mineralization, indicating that the 23 and 73 Zones may have swung northward towards the 6B Zone by this point.
66 Shoot
New drilling on the 66 Shoot, named for the previously reported 15.5 metre 1.67% molybdenum intercept in southwest directed hole K08-66, indicates that although nearby holes have local high grade intercepts equivalent to the 66 Shoot (e.g. K08-94: 8.9 metres of 0.078% molybdenum), the extremely high-grade mineralization intersected in K08-66 appears restricted to a discontinuous vein within a more weakly mineralized envelope. Although additional detailed drilling might better define the extent of the exceptional grade vein, no further drilling is planned at this time.
Main Zone - North East Extension
The furthest east hole drilled to date, K08-87, located 500 metres east of, but on trend with the Main Zone, had a short but good grade intercept of 10 metres of 0.077% molybdenum, indicating the system continues to the east, within a separate, 300 metre long IP chargeability anomaly. Additional surface work is in progress to better define the anomaly.
Main Zone � SW Zone �Gap�
Results from two holes, K08-89 and 90, drilled on the western edge of the �gap� between the west end of the Main Zone and the SW Zone have returned better than anticipated results. This �gap� is probably following a NNW-trending fault zone which has raised the SW Zone up relative to the Main Zone, with holes in the faulted �gap� area previously having been only weakly mineralized, in part due to later remobilization or destruction of the sulphides. Hole K08-89 with 44.5 metres of 0.051% molybdenum starting at 86.0 metres and hole K08-90 with 61 metres of 0.053% molybdenum starting at 104.0 metres show that at least parts of the �gap� host significant widths of mineralization that effectively join the SW and Main Zones. Part of the fault system has been latterly occupied by post mineral Logan diabase dykes.
�Linear is very pleased with the advances made on the KM61 Project in the last year�, reports Robert Page, Linear V.P. of Exploration. �The discovery has now been mostly delineated and is ready for a 43-101 compliant resource estimate which will be completed before year end. This resource estimate should be enhanced by the presence of better than average grade mineralization in the near surface such as that seen in holes K08-93, 96, and 97.�
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.
Completion of a 43-101 compliant resource estimate on Linears� KM61 project will complement the initial 43-101 compliant resource estimate on its Cobre Grande project completed in April 2008 and outlining 49.8 million tonnes at an average grade of 0.92% copper-equivalent. 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 (902) 482-1240, or within North America at 1-866-376-7683.
Signed �Brian MacEachen�
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.