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Toronto, Ontario – Linear Metals Corporation (TSX-V: LRM) is pleased to report that drilling has
substantially extended both the North and South Zones at its Cobre Grande
project, located in Oaxaca, Mexico. The combined strike of the
two zones is now over one kilometre in length. Highlighting the most
recent drill results are significant intervals of copper and molybdenum
including:
- CG-42B
(North Zone): 28 metres of 1.18% copper and 73.95 metres of
0.094% molybdenum; and
- CG-47
(South Zone): 40.35 metres of 1.36% copper and 115.54 metres of 0.092%
molybdenum
The original 10,000 metre 2007 drill program is complete and has
been extended by an additional 10,000 metres with two drills currently
active. Assay results from drill holes CG-42B, CG-44, CG-45, CG-46,
and CG-47 have been received, all with significant intercepts
which are summarized in the table below (a drill hole location map is
available on the Company’s website at www.linearmetals.com):
Note 1: the intervals in the
table are based on core lengths and not true widths of the zone, however,
all holes are west directed angle holes and have mineralized widths
believed to approximate the width of the mineralized zones. All holes are
drilled down steep slopes; consequently, depths of the intercepts below the
surface are less than the metres indicated down hole (e.g. the top of the
copper zoned in CG-42B is at a vertical depth of 130 metres).
Drill hole CG-42, which was twinned by CG-42B, was lost in a cavern
prior to reaching the skarn target and is not reported in the table. Results
are pending for hole CG-43, as well as holes CG-48 to
CG-55.
Increased Strike to the Mineralized Skarn
Drill-hole CG-42B is a 130 metre step-out to the north of CG-40B
reported previously (96.31 metres of skarn averaging 1.76% copper, 0.070%
molybdenum, 0.55% zinc and 60.0 grams per tonne silver) and CG-46 is an
additional 100 metres north of CG-42B. Together these holes have
extended the North Zone by 230 metres for a total strike of 380 metres
which is still open to the south and potentially still open to the north
despite the lower grades and widths encountered in CG-46.
In the south, CG-44 and CG-45, were west
directed holes drilled 600 and 560 metres south of hole CG-41, reported
previously (105.5 metres of 1.01% copper, 0.033% molybdenum and 12.1 grams
per tonne silver) and which was the first west directed hole drilled in the
South Zone. The similarity in the results of CG-44 and CG-45, along
with the mineral zoning seen in all west directed holes, gives
encouragement that mineralization is more consistent along strike than
previously thought. These two holes have extended mineralization in the
South Zone 200 metres to the south for a total strike length of 700
metres.
Hole CG-47, drilled 150 metres north of
CG-45, and 400 metres south of CG-41, has encountered the best molybdenum
intercept to date at Cobre Grande with 115.54 metres of 0.092% molybdenum.
Previous drilling returned several molybdenum intercepts in the range of
0.07% to 0.1% and were assumed to be related to small higher grade zones of
limited economic significance. The program of west directed holes has
changed this assessment and shows that stockwork quartz veining at the base
of the skarn is continuous along the strike of the skarn in its footwall
and consistently carries plus 0.04% molybdenum. More significantly,
there appear to be core areas, in both the North and South Zones, where
molybdenum in stockwork approaches or exceeds 0.1% molybdenum over 50 to
100 metre widths. Vice President of Exploration, Robert Page, comments
“the current phase of drilling, with its emphasis on west directed angle
holes, has clarified the mineral zoning picture at Cobre Grande. These
holes pass from unaltered limestone in the east, successively through zinc
skarn, copper skarn, copper-molybdenum quartz-stockworked skarn and finally
into molybdenum dominated stockworks in skarn or porphyry in the centre of
the system. The surprise in this program has been molybdenum. The
significant molybdenum mineralization intersected at Cobre Grande adds an
exciting dimension to the discovery. The identification of the molybdenum
stockwork zone, adjacent to the copper skarn, is very attractive and could
have a significant impact on the economics of the project”.
Linear Metals is currently drilling holes
on sections spaced 100 metres apart over a strike length of 1400 metres in
preparation for a 43-101 compliant independent resource calculation to be
completed in March 2008. The drilling of outlying targets, like the
outcropping Northwest Skarn, will be delayed until delineation drilling on
the North and South Zones has been completed.
The Quality Control program at Cobre Grande is supervised by
Linear Metals’ Senior Resource Geologist, Geoff Chinn, P.Geo., who is
a Qualified Person as defined under National Instrument 43-101. Drill core
is sawn in half on site and samples collected over 1 to 3 metre intervals
based on geology. Prior to shipping sealed sample bags are stored in a
locked facility on site at the project. Samples are shipped via air to
the ALS Chemex sample preparation facility in Guadalajara, Mexico. The
Guadalajara prep facility then sends pulps to the ALS Chemex Vancouver,
B.C. laboratory – ISO 9001-2000 registered. All samples are
assayed for silver, copper, zinc, lead, and molybdenum using 4 acid
digestion and ICP-AES analysis. In addition, samples from oxide zones
are further analyzed for copper and zinc solubility. For copper,
there is sequential analysis first with sulfuric acid leach and
sequentially for cyanide leach. For zinc there is a single solubility
analysis using acetic acid. The project uses a protocol that includes
blanks, standards, and duplicates which make up 12% of each sample
shipment.
This press release was prepared under the supervision of
Linear Metals’ Vice President of Exploration, Dr. Robert Page, P.
Geo., who is a Qualified Person as defined under National Instrument
43-101. Dr. Page has reviewed the scientific and technical information in
this press release.
For further details on Linear Metals Corporation and its
Cobre Grande Project, please visit the Company's website at www.linearmetals.com
or contact investor relations at (416) 216-4708 or within North America
toll free at 1-866-376-7683.
Robert Page, Vice President of
Exploration
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this
release.
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 Cobre Grande 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 Cobre Grande and there is no assurance that the mineralization at Cobre
Grande 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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