TSX-V: LER
PRESS RELEASE
17 January, 2008
Lero Gold Corp. (�Lero� or the �Company�)
Lero intersects 402.8m @ 0.75g/t Au and 0.18% Cu including 120m @ 0.87g/t Au
and 0.28% Cu and 32m @1.87g/t Au and 0.11% Cu at its Taldybulak-Talas Cu-Au
Porphyry Deposit, Kyrgyzstan
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Lero Gold Corp. (�Lero�, or the �Company�) (TSX-V: LER) is pleased to announce
an update of ongoing work at the Taldybulak-Talas Cu-Au Porphyry project, north
west Kyrgyzstan.
During Q2 2007, re-interpretation of historical and newly acquired geophysical
and geochemical data resulted in the design of a 5,000m diamond drill programme
initiated during the same quarter. The primary objective of the programme was
to better delineate the known extent and geometry of the Cu-Au porphyry body at
Taldybulak Central and also aiming to assess the additional tonnage potential
through testing of peripheral targets along strike to the east and north west
of the central high grade core.
The majority of the drill programme has now been completed with several
regional anomalies still to be tested. As of December 30, 2008 the actual
meterage drilled constituted 5,571m. The programme will be completed during
January/February 2008 with the final outstanding results expected by the end of
Q1 2008.
Significant intersections in the results received to date include:
A continuous zone of significant Cu-Au mineralisation hosted in a quartz
diorite-dacite porphyry with dimensions of 1,000m (Strike) by up to 350m
(width) and 500m (depth) has now been delineated at Taldybulak Central. The
higher grade intercepts in TBDD07-07 coincide with an extensive zone of
previously unknown potassic-hematite altered porphyry, indicating the potential
position of a higher grade core in the western part of Taldybulak Central.
Mineralisation at Taldybulak Central is open at depth and along strike to the
west. Lero has commenced geological modelling and resource evaluation studies
on Taldybulak Central and expects to complete an inferred resource estimate
before the end of Q1 2008.
Encouraging results were also returned from scout exploration drilling
completed at a previously untested geophysical anomaly at Taldybulak East.
Several targets were generated from geophysical anomalies and regional mapping,
roughly 2km to the east of Taldybulak Central
Significant intersections include:
Although the overall geological controls and morphology of the Taldybulak East
mineralisation are yet to be fully understood, the extent of the porphyry
system has now been significantly increased with known porphyry mineralisation
now drilled and mapped along a total strike length in excess of 2.5km.
The Taldybulak-Talas Cu-Au Porphyry Project is located within the prolific
Tien-Shan Gold Belt which is host to some of the world�s largest copper-gold
porphyries including a 93Moz porphyry cluster at Almalyk in Uzbekistan.
President and CEO of Lero, Nick Clarke commented:
�Results from the recently completed drill programme have confirmed the
potential for a large open pitable Cu-Au porphyry target at Taldybulak Central.
These results now give Lero a solid foundation from which to calculate a 43-101
compliant resource estimate for Taldybulak Central and to expand and advance
exploration activities in 2008.�
ENDS
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Notes to Editors:
1. Lero Gold Corporation (TSX-V: LER) is a base and precious metal exploration
company led by a senior management team with extensive expertise in mineral
exploration and advanced project management. In July, 2006 Oriel Resources Plc
completed its previously announced transfer and sale of its gold related assets
into Lero Gold Corporation (�Lero�) (formerly ELE Capital Corporation � �ELE�).
Lero resumed trading on TSX Venture Exchange (TSX-V) on Thursday July 27, 2006
under the trading symbol �LER�. Lero Gold is currently seeking and evaluating
advanced exploration stage gold and base metal projects in Kazakhstan,
Kyrgyzstan and Russia. The Company is currently exploring advanced staged gold
deposits in the Tien Shan gold belt in the Kyrgyz Republic and Kazakhstan.
2. All work carried out on site was reviewed by Matthew Boyes (Senior Geologist
and a Qualified Person under National Instrument 43-101). Assays were conducted
at the internationally certified Alex Stewart Assayers Lab in Kara-Balta,
Kyrgyzstan. Lero Gold
Corporation operates a stringent QA/QC policy that includes external certified
standard samples and duplicates in each individual batch sent for analysis.
3. For avoidance of confusion;
a. The Taldybulak-Talas copper gold porphyry is a separate deposit from the
Taldybulak Levoberezhny gold deposit previously owned by Central Asia Gold
Limited, and
b. The Talas Copper Gold Limited Liability Company, the holder of the Lero
owned Taldybulak licence, is a separate company from Talas Gold Mining Company
which was the owner of the Jerooy Gold project.
4. In November 2006, Lero granted Gold Fields Exploration B.V. an option to
enter into a joint venture agreement with the Company under which Gold Fields
Exploration B.V. has the right to;
a. earn up to a 60% interest in exploration licences on the Kentash, Taldybulak
and Korgontash tenements in the Talas Region by funding exploration
expenditures of up to CAD$10 million, and
b. increase its interest in the project by a further 10% (to a total of 70%) by
funding the expenditure of up to a further CAD$10 million on a feasibility
study. Thereafter, Gold Fields Exploration B.V. and Lero will contribute to the
project requirements on a pro-rata basis through to development, if
appropriate.
5. Gold Fields Exploration B.V. is an indirect wholly owned subsidiary of Gold
Fields Limited.
6. The TSX Venture Exchange does not accept responsibility for adequacy or
accuracy of this release.
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For further information please contact:
Investor Relations, Vanguard Shareholder Solutions
Tel: 866.341.4111 or 604.608.0824
Email: ir@vanguardsolutions.ca
www.lerogold.com
Lero Gold
Vanguard Shareholder Solutions
Vanguard Shareholder
Solutions (Vanguard) provides, for remuneration, corporate communications and
investor relations services to the above mentioned client(s). The information
contained in this email is based on existing disclosure documents or other publicly
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