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Cours Or & Argent

Linear Metals Corporation

Publié le 03 septembre 2009

Additional Results Announced From Linear

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Mots clés associés :   Lithium |

September 2, 2009 - Halifax, NS � Linear Metals Corporation (TSX: LRM) is pleased to announce the results of additional compilation of historical diamond drill results, and new Enzyme Leach soil sampling results on its road accessible, 100 % owned, Seymour Lake Lithium/Tantalum/Beryllium Property, located to the north of Lake Nipigon, near Armstrong, in north-western Ontario. The project is being reactivated in response to rising prices for elements such as lithium and tantalum.   

 

As described in a press release dated August 25, 2009, the 2002 drill program at Seymour Lake was designed to test primarily for tantalum however, due to the highly zoned nature of rare metal pegmatites, metals such as lithium, tantalum and beryllium are often fractionated into discrete subzones within the pegmatite body.   Consequently, the composite assay intervals previously reported had been optimized for their tantalum content, and not lithium. Re-examination of these intervals, subsequent to the August 25th release, has identified some higher grade intervals in established zones, as well as entirely new zones of lithium mineralization, as shown in the attached table (changes from the August 25th version are shown in bold text; intervals not in bold have been previously reported):

 

North Aubry Zone

Drill Hole #

From

(metres)

To

(metres)

Width

(metres)

Li2O

(%)

Comment

SL-02-01

Primitive Pegmatite Intersected

 

SL-02-02

45.75

60.00

14.25

1.735

 

SL-02-03

25.65

29.00

3.35

1.398

 

and

32.50

40.70

8.20

1.370

Lower Horizon

SL-02-04

25.00

34.20

9.20

2.386

 

SL-02-05

18.00

21.60

3.60

0.944

 

SL-02-07

59.00

59.30

0.30

0.048

 

SL-02-08

13.60

30.00

16.40

0.830

Hole Lost @ 30 m

incl.

15.60

25.70

10.10

1..316

 

SL-02-09

1.45

22.10

20.65

0.955

 

incl.

3..20

17.94

14.74

1..190

 

SL-02-10

51.85

57.05

5.20

1.578

Deep Horizon?

SL-02-12

6.28

6.50

0.22

0.034

 

SL-02-13

15.88

16.02

0.14

0.003

 

and

19.1

19.25

0..15

0..087

Lower Horizon

SL-02-14

2.65

8.35

5.70

2.212

 

SL-02-15

6..35

11.80

5..45

1..302

 

incl.

6.35

9.75

3.40

1.486

 

SL-02-16

1.70

9.55

7.85

1.148

 

SL-02-25

1.40

1.65

0.25

0.829

 

SL-02-26

1.65

5.05

3.40

2.484

 

SL-02-27

3.00

26.85

23.85

1.325

 

Incl.

3..00

12.00

9..00

2..059

 

and incl.

19.46

22.50

3..04

2..232

Lower Horizon?

SL-02-28

2.30

14.10

11.80

1.837

 

incl.

2..30

12.00

9..70

2..165

 

SL-02-29

1.80

13.75

11.95

1.696

 

incl.

1..80

12.20

10.40

1..926

 

SL-02-30

2..00

18.90

16.90

2..081

 

and

23.30

27.00

3..70

1..837

Lower Horizon

SL-02-31

1.60

19.32

17.72

1.475

 

incl.

6..35

19.32

12.97

1..937

 

SL-02-32

No Pegmatite Intersected

Hole Lost @ 95 m

 

South Aubry Zone

Drill Hole #

From

(metres)

To

(metres)

Width

(metres)

Li2O

(%)

Comment

 

 

 

 

 

 

SL-02-17

27.75

28.15

0..40

0..428

 

and

30.70

35.05

4..35

1..460

Lower Horizon

incl.

30.70

32.50

1.80

2.389

 

SL-02-18

25.00

31.25

6.25

0.339

 

and

52.10

61.18

9..08

1..262

Lower Horizon

incl.

52.10

57.00

4..90

1..799

 

SL-02-19

2..65

17.15

14.50

0..304

 

incl.

4.65

7.65

3.00

0.357

 

SL-02-20

3..00

16.30

13.30

0..757

 

incl.

8.00

12.60

4.60

0.976

 

and

58.20

60.00

1..80

0..454

Lower Horizon

SL-02-21

2..35

18.64

10.36

0..648

 

incl.

2.35

4.50

2.15

1.368

 

and

50.82

52.02

1..20

0..288

Lower Horizon

SL-02-22

8..13

15.20

7..07

0..390

 

incl.

8.13

9.00

0.87

0.626

 

and

39.18

42.10

2..92

1..401

Lower Horizon

SL-02-23

1.95

5.20

3.25

0.625

 

incl.

4.00

5.20

1.20

1..292

 

SL-02-24

13.90

17.95

4.05

0.307

 

incl.

13.90

15.70

1..80

0..623

 

 

The most significant new developments from the re-examination of the assay data are a significantly expanded zone of lithium mineralization in drill hole SL02-30, on the North Aubry zone, 16.9 metres of 2.081% Li2O, and the recognition of a new �Lower Horizon� of mineralization, especially developed in the South Aubry, where it carries excellent lithium intersections in several holes, e.g. SL02-18: 9.08 metres of 1.262% Li2O, SL02-17: 4.35 metres of 1.460% Li2O, and SL-02-22: 2.92 metres of 1.401% Li2O. This Lower Horizon carries higher grade and thicker mineralized intervals than the main pegmatite horizon at South Aubry, and occurs approximately 20 metres below it. At the North Aubry, a similar newly recognized �Lower Horizon� is located only two to five metres below the main horizon, and in at least one hole (SL02-27), is not separated from the main horizon, creating an overall thicker, continuous pegmatite body with two distinct zones of high-grade lithium mineralization.  Another new zone, called the �Deep Horizon�, was intersected in at least one hole, SL02-10, below the North Aubry; located approximately 60 metres below the Main and Lower horizons, the hole returned 5.2 m of 1.578% Li2O. It should be noted that most of the holes in the 2002 program were only drilled to a depth of 40 to 60 metres (all holes drilled vertically), so that over much of the drill-tested area, the pegmatite system has only been investigated very shallowly. Some of the existing drill holes will be deepened in the upcoming exploration program to search for extensions of the Lower and Deep horizons (see website for table of 2002 drill holes and location maps).

 

The potential along strike and dip as well as at depth, are further emphasized by a detailed Enzyme Leach soil survey conducted during a 2008 work program (but only recently compiled and interpreted), which covered a total area of approximately 3 kilometres x 2.5 kilometres over the North and South Aubry zones, The survey, consisting of 644 samples (correction from August 25th release which referred to 422 samples), partially delineated a large, multi-element, circular to ovoid �halo� or �doughnut� anomaly approximately 3 kilometres in diameter, indicating that the sub-horizontal pegmatite body(s) may extend over a very large area, of which only a small fraction (< 3 %) has been drill tested (see website for lithium anomaly map), and is open to the north, east, and south. Several very strong, multi-element, �apical� sub-anomalies within the larger �halo� may indicate specific Lithium, Tantalum, or Beryllium mineralized zones within the pegmatite, and are direct, high-priority drill targets.

 

Excellent reproducibility of the Enzyme Leach results is indicated by very similar anomaly patterns obtained from a limited 2002 Enzyme Leach orientation survey (130 samples) conducted by Linear over an area of approximately 400 metres x 2500 metres. Enzyme Leach soil geochemistry has been successfully used by Tanco exploration staff to delineate the Bernic Lake and other mineralized pegmatites in central Manitoba (Galeschuk & Vanstone, 2005), and by Manitoba Geological Survey staff to delineate the Bil lithium pegmatite in northern Manitoba (Fedikow, 2001). Anomalous values of lithium in the Enzyme Leach soils at Seymour Lake are of the same order of magnitude above background as those reported from Bernic Lake and the Bil pegmatite, although caution must be used in directly comparing survey results from different areas.

 

The 2002 drill results indicate there are open, sizeable, high-grade lithium (and tantalum) zones at both the North Aubry and South Aubry occurrences. Furthermore, the 2008 soil results indicate there remains excellent untested potential for additional pegmatites, both stacked at depth, along strike and down dip. The Seymour Lake property remains highly prospective for further discoveries and a re-evaluation of data is continuing, leading to a fall 2009, detailed exploration program, including drilling.

 

Brian MacEachen, Linear Metals President & CEO, states, �The additional high grade lithium intervals identified from the 2002 drill program, as well as the large size potential indicated by the soil samples, is extremely encouraging for the discovery of additional mineralized zones at Seymour Lake.  We are moving forward with the fall exploration program and look forward to reporting additional results from the first work program that will specifically target lithium mineralization.�

 

Resignation of Director

Linear Metals also announces the resignation of Dr. Ken Cai from the Company�s Board of Directors. Linear Metals wishes to thank Dr. Cai for his dedicated service to the Company since April 2006.  Linear Metals' Board of Directors expects to announce the appointment of a new director over the coming weeks.

Analyses for lithium were carried out on split or sawed half core at the XRAL Laboratory, in Mississauga, Ontario, using the ICP90 technique which has a 10 ppm detection limit  Enzyme Leach soil samples were collected by Linear personnel at standard depth and analyzed by Activation Laboratories in Ancaster, Ontario using proprietary leachates and an ICP-MS finish. Standard QA/QC techniques were utilized to confirm results at the time the programs took place.

This press release was prepared under the supervision of Peter M. Dimmell, P.Geo. who is a Qualified Person as defined under National Instrument 43-101.  Mr. Dimmell has reviewed the scientific and technical information in this press release.

 

For further information, please contact:  

Linear METALS CorpORATION

Brian MacEachen

President and Chief Executive Officer

 (902) 482-1240        

 

The TSX Exchange 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 Seymour Lake 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 Seymour Lake and there is no assurance that the mineralization at Seymour Lake 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

 

 

Linear Metals Corporation

EXPLORATEUR
CODE : LRM.TO
ISIN : CA8613081048
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Linear Metals est une société d’exploration minière d'argent et d'or basée au Canada.

Linear Metals détient divers projets d'exploration au Canada et au Mexique.

Ses principaux projets en exploration sont LA MORENA et COBRE GRANDE au Mexique et SEYMOUR LAKE et KM61 au Canada.

Linear Metals est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 3,2 millions CA$ (3,1 millions US$, 2,4 millions €).

La valeur de son action a atteint son plus haut niveau récent le 18 janvier 2008 à 1,14 CA$, et son plus bas niveau récent le 22 mai 2013 à 0,04 CA$.

Linear Metals possède 80 331 000 actions en circulation.

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Financements de Linear Metals Corporation
11/02/2011Announces $1,000,000 Private Placement
04/08/2009Announces Completion of Private Placement
22/07/2009Announces $900,000 Private Placement
Attributions d'options de Linear Metals Corporation
09/08/2011Retains Alliance Advisors as US Investor Relations Consultan...
Nominations de Linear Metals Corporation
26/03/2008Appoints Dr. James W. Gill as Director
11/12/2007Announces New Appointments
Projets de Linear Metals Corporation
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31/03/2011(Seymour Lake)Agrees to Option Agreement on Seymour Lake Project
09/02/2011Signs Option Agreement To Acquire Large Gold And Base Metal ...
07/01/2010Additional High Grade Drill Results
07/10/2009(Seymour Lake)Provides An Update on the Seymouth Lake Lithium Project
10/09/2009(Seymour Lake)Reports Additional Beryllium And Tantalum Results Compiled F...
24/07/2009(Cobre Grande)Provides Update onCobre Grande Purchase Option
09/12/2008(Km61)Reports 43-101 Mineral Resources at KM61 Project
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18/06/2008(Cobre Grande)Intersects High Grade Copper-Silver in Northwest Skarn at Co...
15/05/2008(Km61)Intersects High-Grade Molybdenum in the Main Zone at KM61 Pr...
13/05/2008(Cobre Grande)Announces New Discovery at Cobre Grande Copper-Molybdenum Si...
09/05/2008(Km61)Connects Mineralization Across the Main Zone and Makes a New...
05/03/2008(Km61)Reports Additional Molybdenum-Copper-Silver Mineralization a...
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Communiqués de Presse de Linear Metals Corporation
24/04/2012Announcement
09/01/2012Reports Gold Mineralization in Kamwango Core Samples-Assays ...
28/11/2011Kenyan Partners of Linear Metals and African Queen Mines Set...
22/08/2011Increases Nyanza Gold and Base Metal Property Portfolio by 6...
06/07/2011Commences Drilling on Its Nyanza Project in Kenya
03/09/2009Additional Results Announced From Linear
25/08/2009Reactivates Seymour Lake Lithium/Tantalum/Beryllium Project
09/02/2008To Begin Trading on the Toronto Stock Exchange And Commences...
11/01/2008Plans Aggressive 2008 Work Programs
18/12/2007ACQUISITION OF SHARES OF LINEAR METALS CORPORATION
09/11/2007Mineralization Extended Over One Kilometre at LinearMetals?C...
16/08/2007Sampling of Historic Core at Linear Metals' KM61 Project Inc...
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