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Cours Or & Argent
Linear Metals Commences Drilling on Its Nyanza Project in Kenya
Published : July 06, 2011
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Mots clés associés :   Canada | Kenya |

HALIFAX, NOVA SCOTIA--(Marketwire - July 6, 2011) - Linear Metals Corporation (News - Market indicators) is pleased to announce that it has commenced drilling on the Awuoro-Kanga areas, on the SE portion of Linear's SPL 258 concession. The SPL 258 concession is located in the northern section of Linear's Nyanza Project, covering an area of over 1,000 square kilometres ("km") in Nyanza Province, Kenya, along a prolific gold hosting greenstone belt. Phase I of this drilling program is anticipated to comprise approximately 2000 metres ("m"), and will initially test ten different priority targets within a 7.5 x 2 km grid area.

Initial soil and rock data from the area identified a minimum of four potential sub-parallel regional auriferous structures that extend over at least 12 km in strike length. Initial geophysics results, including induced polarization and ground magnetic surveys, have outlined a variety of chargeability targets associated with the previously reported gold-in-soil anomalies (up to 2,500 ppb Au) and high-grade Au-Ag mineralization from nearby workings and outcrops (up to 37.8 g/t Au and 34 g/t Ag). Preliminary results of the magnetic survey indicate that several of these trends on the Kanga grid appear to be associated with large, deformed, banded iron formations ("BIFs"), a mineralization type that is reported from the greenstone belt elsewhere in Kenya as well as in Tanzania (e.g Anglogold Ashanti's Geita Mine and Barricks' Golden Ridge Mine).

Recently, additional sampling of workings on the Ruga trend (Kanga grid), one of the 10 priority drill targets, returned a tip sample of 12.45 g/t Au with 24 g/t Ag, approximately 250 m NW of a large strong chargeability feature that has been field-named "Atlantis". The Atlantis anomaly appears to be part of a large, complexly folded BIF. Please see the compilation map on the website for further details.

Linear's Chief Executive Officer, Brian MacEachen, added, "The commencement of this drill program is an exciting milestone for Linear as we continue to advance our district scale property package in Kenya. With over 1000 square kilometres of prospective property, we are optimistic that drilling can continue to deliver positive results for our shareholders over an extended period going forward."

Based on contemporary descriptions by mappers of the Kenyan Geologic Survey, the Colonial mines within SPL258 generally mined individual high-grade quartz veins to a maximum depth of approximately 20 m, based on depth of oxidation and the level of the water table, as well as the limitations of available equipment and supplies. These mineralized zones are expected to extend at depth and along strike, as indicted by the soils and IP anomalies.

The mineralization within the Awuoro-Kanga areas is hosted in silicified felsic volcanics and associated sediments, generally within sulphide-bearing, vuggy, quartz-vein stockworks along NW-trending structures. In several areas it clear that the mineralization occurs along large BIF trends.

This press release was prepared under the supervision of Matthew Ian Rees, M.Sc., P.Geo., VP Exploration for Linear Metals, who is a Qualified Person as defined under National Instrument 43-101. Mr. Rees has reviewed the scientific and technical information in this press release. All assays reported were performed by ALS Chemex, with samples initially prepped in Mwanza, Tanzania, and pulps analyzed in either South Africa or Canada.

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 the Nyanza Project 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 the Nyanza Project and there is no assurance that the mineralization at the Nyanza Project 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.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Linear Metals Corporation
Brian MacEachen
President and Chief Executive Officer
(902) 482-1240
www.linearmetals.com
Données et statistiques pour les pays mentionnés : Canada | Kenya | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Kenya | Tous

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
10/05/2011Provides An Update On Its Nyanza Project Exploration Program...
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
24/11/2008(Km61)Reports Positive Metallurgical Results and Significant Deep ...
24/09/2008(Km61)Deep Holes at Linear Metals KM61 Project Show Molybdenum Min...
03/09/2008(Km61)Encounters Strong Molybdenum Mineralization in Offsets to Hi...
20/08/2008(Cobre Grande)Extends Copper-Molybdenum Mineralization in El Oso Zone at C...
23/07/2008(Km61)Intersects Longest Molybdenum-Copper-Silver Intervals to Dat...
02/07/2008(Km61)Continues to Intersect Long Intervals of Molybdenum-Copper-S...
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...
12/02/2008(Km61)Continues to Intersect Wide Intervals of Molybdenum-Copper-S...
01/02/2008(Cobre Grande)Extends Mineralization by 200 Metres and Intersects New Zinc...
04/10/2007Drilling Intersects Significant Mo-Cu-Ag Mineralization
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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