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Re: Property News - Monday, January 26, 2009
Logan Resources Preliminary Drilling Results on Brynnor Iron
Project, Vancouver Island
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Vancouver, B.C. -- January 26, 2009 - Logan Resources Ltd. (TSXV:LGR) (the "Company") is pleased to announce that it has completed 20 drill holes totaling 6,678.9 metres on its 100%-owned Redford Property, Vancouver Island, British Columbia. One additional hole was in progress when the program was shut down on December 22, 2008 and will be completed during February 2009.
Based on visual evaluation of the magnetite content of the core, the program has successfully achieved its objectives which were to upgrade all or a portion of the current indicated and inferred resources to the measured and indicated resource categories and to increase the inferred category at depth and along strike. Assays are pending and a new resource estimate will be completed by the end of February.
Initial resource estimates on the Brynnor deposit determined measured plus indicated mineral resources of 7,070,000 tonnes grading 51.3% iron containing 5,750,000 tonnes of iron concentrate grading 63.7% iron; and inferred resources of 18,620,000 tonnes grading 51.3% iron, containing 15,140,000 tonnes of iron concentrate grading 63.7%. For further details, please refer to the Sept. 9, 2008 news release.
Mr. Peter George, P.Geo., as a consultant to the Company, is the Qualified Person for the project and is responsible for the content of this press release.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. The Company has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
ON BEHALF OF THE BOARD
"Seamus Young"
Seamus Young
President and CEO
For Further Information Please Contact:
Earl Hope, Investor Relations, 604-689-0299 x 232
Seamus Young, President and CEO, 604-689-0299 x223
Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements..
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
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Copyright (c) 2009 LOGAN RESOURCES LTD. (LGR) All rights reserved.
For more information visit our website at http://www.loganresources.ca/
or send mailto:info@loganresources.ca
Message sent on Mon Jan 26, 2009 at 6:05:00 AM Pacific Time
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Logan Resources Ltd
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CODE : LGR.V |
ISIN : CA5410953031 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Logan Resources is a silver and gold exploration company based in Canada. Logan Resources holds various exploration projects in Canada. Its main exploration properties are CHEYENNE, CASSIAR PLATEAU and HEIDI in Canada. Logan Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 2.6 millions as of today (US$ 2.0 millions, € 1.6 millions). Its stock quote reached its highest recent level on September 22, 2000 at CA$ 9.60, and its lowest recent point on February 19, 2016 at CA$ 0.03. Logan Resources has 42 740 000 shares outstanding. |