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Re: Property News - Wednesday, November 26, 2008
Logan Resources Initial Drilling Results Confirm Historic Results
on Brynnor Iron Project, Vancouver Island
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VANCOUVER, Nov. 26 /CNW/ - Logan Resources Ltd. (TSXV:LGR) (the
"Company") is pleased to announce that initial drilling results have confirmed
historic Noranda surface drilling in the area. The initial four drill holes
(totaling 1,100 metres) were sited to test an area where Noranda had completed
four surface holes in the 1960's. Logan's four holes averaged 50.4% iron over
an average vertical width of 55.8 metres versus the historic Noranda holes
which averaged 53.5% over an average vertical width of 52.2 metres.
The precise location of the historic holes could not be determined on
surface; therefore the Logan holes were located relative to local geographic
references, coupled with the estimated position of the historic mine grid.
Logan considers the hole collars to be within +/- 10 metres of the historic
Noranda holes.
The differences in grade and width are not considered significant as
there are erratic and rapid variations in the amount of internal waste within
the massive magnetite mineralization. Logan's recently published resource
estimate, based upon surface and underground drilling by Noranda, determined
measured plus indicated mineral resources of approximately 7 million tonnes
grading 51.3% iron and inferred resources of approximately 18.6 million tonnes
grading 51.4% iron.
Three drills are currently operating with 16 holes totaling approximately
5200 metres still to be completed. The objective of these holes is to upgrade
all or a portion of the current indicated and inferred resources to the
measured and indicated resource categories respectively and to increase the
inferred category at depth and along strike from the known mineralization.
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"
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Seamus Young
President and CEO
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.
For further information: Earl Hope, Investor Relations, (604) 689-0299 x232;
Seamus Young, President and CEO, (604) 689-0299 x223/
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Copyright (c) 2008 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 Wed Nov 26, 2008 at 6:03:00 AM Pacific Time
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