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Re: News - Tuesday, June 26, 2007
Logan Resources Begins Drill Program at May Creek and Continues
Diamond Drilling at Heidi
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Vancouver -- Tuesday, June 26, 2007 -- Logan Resources Ltd. (TSXV:LGR)
today announced that it began the reverse circulation drill program at
its May Creek project, located approximately 45 km northwest of Mayo,
Yukon. Meanwhile, the Company continues to diamond drill its Heidi gold
project and has just completed the 16th drill hole this year. Assays
will be reported when they are received. In addition, preparations for
the diamond drill program at Shell Creek are also underway. The program
at Shell Creek will begin when the diamond drill is moved over from the
Heidi project.
The May Creek project was acquired in late fall 2006. The property
consists of 84 mineral claims (covering 4,338 acres, 1,755 hectares)
and covers what is believed to be a precious metal system associated
with a Tombstone Intrusion. Over the winter months, Logan's geological
team compiled the results of numerous geochemical surveys and
historical trenching programs conducted at May Creek. The analysis
indicates a skarn-type deposit with aureoles of gold, silver, copper
and zinc mineralization extending over numerous kilometres. A number of
priority targets have been identified over areas of significant surface
mineralization, in favourable geology. This is the first time this
property has been drilled. Logan has an option to earn a 100% interest
(subject to 2% NSR) in the project.
"In this highly competitive environment where the demand for
geologists, drills and geophysical services can hinder progress, we are
delighted that, with the help of our geological team, technical staff
and service providers, we have been able to execute an aggressive
exploration and drill program this season," said Seamus Young,
President and CEO.
The 100%-owned (subject to 2% NSR) Heidi gold property, located 95
kilometers northeast of Dawson City, Yukon is comprised of 54 claims
covering approximately 1,000 hectares. The Company has been diamond
drilling the coincident geophysical and geochemical anomalies on this
project since early May. The property was first explored by Homestake
Mining in 1995. Between 1995 and 2000, Homestake completed
geochemistry, geology, and trenching surveys that identified promising
gold mineralization. The claims were allowed to lapse after Homestake
was taken over by Barrick Gold and world market conditions declined.
Logan is the first operator to drill the property.
Michael Hibbitts, P. Geo, Vice President Exploration is the Qualified
Person for Logan's properties.
Logan Resources Ltd. is a mineral exploration company that specializes
in acquiring, exploring and advancing Canadian mineral properties. For
more information on the property portfolio and the Company, please
visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
The Company currently has 34,960,363 shares outstanding.
ON BEHALF OF THE BOARD
"Judith T. Mazvihwa"
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Judith T. Mazvihwa
CFO and Director
For further information please contact:
Judith T. Mazvihwa,CFO and Director
604-689-0299 x 224
The RAYA Group, Investor Relations
Toll-free: 1-877-626-2121
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.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
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Copyright (c) 2007 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 Tue Jun 26, 2007 at 9:07:34 AM Pacific Time
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