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Cours Or & Argent

Linear Metals Corporation

Publié le 18 juin 2008

Intersects High Grade Copper-Silver in Northwest Skarn at Cobre Grande Project, Oaxaca, Mexico

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Toronto, Ontario � Linear Metals Corporation (TSX: LRM) is pleased to report results from the first seven holes of a 2,800 metre reverse circulation drill program at its Cobre Grande Project located in Oaxaca, Mexico. All seven holes were located in the Northwest Skarn Zone and five of the seven holes bottomed in mineralization. The Northwest Skarn Zone is located approximately 500 metres west of the Main Zone Mineral Resource which is host to a 43-101 resource estimate of 49.8 tonnes at an average grade of 0.92% copper equivalent and accordingly, these results represent a new discovery, outside of the existing resource. Highlights from the most recent results include:

 

                                               CGRC-15      46.0 metres of 1.46% copper equivalent (1.14% copper and 21.8 grams per tonne silver) in a copper-enriched partially oxidized zone, bottoming in mineralization; and

                                               CGRC-17       32.3 metres of 1.37% copper-equivalent (0.87% copper and 68 grams per tonne silver) in a copper-enriched partially oxidized zone, bottoming in mineralization,   including:

                                                           2.3 metres of 7.59% copper equivalent (6.26% copper and 191 grams per tonne of silver), at the bottom of the hole.

 

These seven holes are the first holes drilled in the Northwest Skarn Zone following discovery hole CG-68, previously announced on May 13, 2008, which returned 228 metres of 0.91% copper equivalent.  All results received from the Northwest Skarn continue to validate Linear�s exploration model and confirm the exceptional exploration potential of the Cobre Grande Project. A diamond drill rig is expected to arrive at the project before month-end and aggressive follow-up exploration of the Northwest Skarn Zone is a top priority. 

 

Gobre Grande Exploration Model

 

At Cobre Grande, it appears that skarn mineralization forms a carapace-like halo around the top of a swarm of west dipping porphyry dykes. The east flank of this carapace has seen most of the historic drilling at Cobre Grande and is now termed the Main Zone. The porphyry dikes and the Main Zone are interpreted to have been cut by a fault along their entire length with the top of both down-faulted and displaced 400 to 600 metres to the west in the Nortwest Skarn area. The top of this porphyry-skarn system presents the following two prospective exploration targets:

 

-         The thick top part of the porphyry-skarn system seen in the Main Zone, which based on the results of CG-68 appears to extend at depth to at least 200 metres within the Northwest Skarn Zone; and

 

-        The down-faulted west side of the porphyry-skarn system which previous to the reverse circulation drill holes reported herein, had seen no drilling.

 

Results from the reverse circulation drilling program have successfully confirmed mineralization within both of these targets:

 

-         CGRC-15, a 60 metre step out to the east of discovery hole CG-68, intersected 46.0 metres of 1.46% copper equivalent before bottoming in mineralization and has confirmed a minimum 60 metre width to the eastern flank of the Northwest Skarn; and

 

-        CGRC-12, 16 and 17, all targeting the west side of the porphyry system, returned significant mineralized intercepts and all holes bottomed in mineralization, confirming that mineralization extends to the west side of the porphyry system, representing a potentially large-scale target. The results from the bottom of CGRC-17 are some of the highest copper and silver grades seen on the property to date and are a priority for follow-up. The mineralization identified in this zone remains open in all directions.

 

Ongoing validation of the Exploration Model suggests that considerably less than 50% of the Cobre Grande porphyry-skarn system has been drill tested to date. A diagram depicting the Cobre Grande Exploration Model and the significance of the Northwest Skarn is available on the Company�s website at www.linearmetals.com.

 

East Flank to the Northwest Skarn

 

Results for the four holes drilled on the east flank of the porphyry system, in the Northwest Skarn, are provided below.  A drill hole location map is available on the Company�s website at www.linearmetals.com.

 

Holes in East Flank to the Northwest Skarn

HOLE-ID

From

(metres)

To

(metres)

Interval1

(metres)

Copper

%

Zinc

%

Molybdenum

%

Silver

Grams/

Tonne

Copper

Equivalent

%

CGRC-11

   22.0

194.0

172.0

0.40

0.05

0.013

 8

 0.54(2a)(3)

Including

 164.0

 194.0

 30.0

 0.64

0.09

0.031

11

 0.91(2a)(3)

CGRC-13

 182.0

 196.0

 14.0

 0.65

0.08

0.006

17

   0.80(2b)

 CGRC-15

 168.0

 214.0

 46.0

1.14

0.16

0.040

22

1.46(2b)(3)

Notes:  

1.      Intervals in the table are based on core lengths and do not represent true widths of the zone, see text for comments on true widths.

2.      Copper equivalent calculations were calculated based on estimated NSR�s with copper at $2.50 per pound, molybdenum at $20.00 per pound, and silver at $13.50 per ounce. The copper equivalent calculations also take into account assumptions regarding concentrate properties, smelter charges, and payable percentages as well asmetallurgical recoveries (zinc is not expected to be recovered in any of the mineralization types encountered in these holes) which vary between sub-zones, resulting in different copper equivalent formulas for each zone as follows:

a)      Copper sulphide skarn copper equivalent = Cu%+Mo%($233.01/$39.25) + Ag g/t($0.31/$39.25);

b)      Partially oxidized copper and molybdenum zones copper equivalent = Cu%+Mo%($150.98/$37.84) + Ag g/t($0.27/$37.84).

3.      The hole bottomed in mineralization.

 

Hole CGRC-11 is a twin of discovery hole CG-68 which intersected 228 metres of 0.91% copper equivalent starting at 29 metres. CGRC-11 was drilled as a twin hole to evaluate the accuracy and reliability of assays received from the reverse circulation drilling samples. CGRC-11 was lost prematurely and failed to complete or twin the bottom 63 metres of the CG-68 intercept.  CGRC-11 returned 172 metres of 0.54% copper equivalent, approximately 31% lower than the comparable CG-68 interval which returned 0.85% copper equivalent over 171.15 metres (0.66% copper, 0.08% zinc, 0.020% molybdenum and 11 grams per tonne silver). Where core recoveries approach 100%, as in the case of CG-68, and particularly below the water table, sampling of drill core would generally be accepted as providing more accurate assays than reverse circulation chip sampling. The lower average grade of CGRC-11 is attributed to potential sampling problems from water in-flow, and potential deviation of the rotary hole from the track of the diamond drill hole. Based on these results, it appears that reverse circulation drilling may result in an understatement of metal grades, however, additional twin holes would be required to confirm this conclusion. The reverse circulation drill will be released from the project, following completion of CGRC-28, now in progress, and replaced with a diamond drill rig with significantly greater depth capacity.

 

Hole CGRC-13 is a -70� east directed hole, located 100 metres south of hole CG-68. CGRC-13 had a short mineralized intercept, 14 metres grading 0.80% copper equivalent, which was cut off by a fault with unaltered limestone in the footwall. More drilling is needed to confirm the offset direction of the mineralized zone in this hole. Hole CGRC-14, a 180 metre vertical hole drilled from the same setup, encountered barren silicified porphyry from the core of the alteration system, comparable to CG-65, to the south, which had a long intercept of weakly mineralized silicified porphyry.

 

Hole CGRC-15 is a -70� east directed hole, located 60 metres east and parallel to CG-68, and bottomed in 46 metres of 1.46% copper equivalent, before being lost to water in-flow. Assuming a northerly trend to the mineralized zone, the 60 metre step-out indicates the body has an easterly dip with an apparent width of at least 60 metres.  A west directed diamond core hole is planned to scissor CG-68 and CGRC-15, with the objective of providing a true width to this mineralized skarn body.

 

West Flank to the Northwest Skarn

 

Results for the three holes drilled on the west flank of the porphyry system, in the Northwest Skarn, are provided below. A drill-hole location map is available on the Company�s website at www.linearmetals.com.

 

Holes in West Flank to the Northwest Skarn

HOLE-ID

From

(metres)

To

(metres)

Interval1

(metres)

Copper

%

Zinc

%

Molybdenum

%

Silver

Grams/

tonne

Copper

Equiv.

%

CGRC-12

   56.0

 88.0

 32.0

0.70

0.02

0.014

 11

0.84(2b)

 

   88.0

 136.0

 48.0

 0.06

0.01

0.056

   1

0.50(2a)(3)

 CGRC-16

 80.0

 86.0

   6.0

1.37

0.16

0.002

45

1.70(2b)

 

130.0

192.0

 62.0

0.06

0.02

0.042

 2

0.37(2a)(3)

 CGRC-17

114.0

146.3

32.3

0.87

0.35

0.001

67

1.37(2b)(3)

 including

 142.0

146.3

 4.3

4.66

0.59

0.003

132

5.61(2b)(3)

 including

 144.0

146.3

 2.3

6.26

0.72

0.002

191

7.59(2b)(3)

Notes: 

1.      Intervals in the table are based on core lengths and do not represent true widths of the zone, see text for comments on true widths.

2.      Copper equivalent calculations were calculated based on estimated NSR�s with copper at $2.50 per pound, molybdenum at $20.00 per pound, and silver at $13.50 per ounce. The copper equivalent calculations also take into account assumptions regarding concentrate properties, smelter charges, and payable percentages as well asmetallurgical recoveries (zinc is not expected to be recovered in any of the mineralization types encountered in these holes) which vary between sub-zones, resulting in different copper equivalent formulas for each zone as follows:

a.       Molybdenum sulphide stockwork copper equivalent = Mo%($349.65 /$39.25) (pending further metallurgical testing, copper and silver are assumed non-recoverable in the Molybdenum Stockwork sub-zone).

b.      Partially oxidized copper and molybdenum zones copper equivalent = Cu%+Mo%($150.98/$37.84) + Ag g/t($0.27/$37.84).

3.      The hole bottomed in mineralization.

 

Hole CGRC-12, an east directed hole drilled at -70�, is located 160 metres to the northwest of hole CG-68 and was lost in well mineralized molybdenum stockwork at 136 metres. This hole, the first in the west flanking skarn, successfully demonstrated the presence of copper bearing skarn on the west flank of the porphyry. Hole CGRC-12 intersected 32 metres of 0.84% copper equivalent immediately above the molybdenum stockwork zone which returned 48 metres of 0.056% molybdenum and bottomed in 0.069% molybdenum. The geometry of the two zones in this hole appears to be a mirror image to what has been seen on most sections in the Main Zone. 

 

Holes CGRC-16 and CGRC-17 are east and west directed holes respectively, drilled at -70� on the same section as CG-68, located 130 metres to the east. The east directed hole, CGRC-16, was lost at 192 metres, within a few metres from the trace of hole CG-65, which is believed to have followed the �barren� core of the porphyry system. Hole CGRC-16 had a 6.0 metre high-grade copper-silver intercept, averaging 1.70% copper equivalent, followed by 44 metres of anomalous copper skarn and then transitioned to the molybdenum stockwork zone with 62 metres of 0.042% molybdenum.

 

Hole CGRC-17, also located 130 metres west of CG68 but angled to the west, has intersected some of the richest copper and silver mineralization encountered to date at Cobre Grande bottoming in a 2.3 metre interval with 6.26% copper and 191 grams per tonne of silver, within a larger intercept of 32.3 metres of 1.37% copper equivalent (includes 66.7 grams per tonne of silver).  Following up the high-grade intercept in the bottom of CGRC-17 will be a priority when the diamond drill returns to the

 

Linear�s V.P. Exploration, Robert Page, commented �Following completion of our initial 49.8 million tonne, 0.92% copper equivalent resource estimate at Cobre Grande, we are continuing to build momentum by consistently intersecting potential ore grade mineralization while testing completely new targets. In addition to the established resource, drilling has: confirmed the continuation of mineralization to the north of our Main Zone resource; produced a significant new discovery in the Northwest Skarn, where discovery hole CG-68 returned 228 metres of 0.91% copper equivalent; and most recently, resulted in a successful initial test of the west flank of the porphyry system in the Northwest Skarn with all three holes hitting strong skarn hosted mineralization, including the high grade copper-silver intercept in hole CGRC-17. With these excellent results, we are confident that we will continue to significantly add to the Cobre Grande resource.�     

 

Ecatepec Project

 

Based on the results of a 1,200 metre reverse circulation drill program at the Ecatepec Project, the Company has terminated its option agreements, on the two claims held at Ecatepec. Drill results indicated that copper and zinc mineralization at Ecatepec was restricted to narrow structures and broad induced polarization geophysical anomalies are related to pyrite. 

 

The Quality Control program at Cobre Grande is supervised by Linear Metals� Senior Resource Geologist, Geoff Chinn, P.Geo., who is a Qualified Person as defined under National Instrument 43-101. Drill core is sawn in half on site and samples collected over 1 to 3 metre intervals based on geology. Prior to shipping sealed sample bags are stored in a locked facility on site at the project. Samples are shipped via air to the ALS Chemex sample preparation facility in Guadalajara, Mexico.  The Guadalajara prep facility then sends pulps to the ALS Chemex Vancouver, B.C.. laboratory � ISO 9001-2000 registered.  All samples are assayed for silver, copper, zinc, lead, and molybdenum using 4 acid digestion and ICP-AES analysis.  In addition, samples from oxide zones are further analyzed for copper and zinc solubility.  For copper, there is sequential analysis first with sulfuric acid leach and sequentially for cyanide leach.  For zinc there is a single solubility analysis using acetic acid..  The project uses a protocol that includes blanks, standards, and duplicates which make up 12% of each sample shipment. 

 

This press release was prepared under the supervision of Linear Metals� Vice President of Exploration, Dr. Robert Page, P. Geo., who is a Qualified Person as defined under National Instrument 43-101. Dr. Page has reviewed the scientific and technical information in this press release.

For further details on Linear Metals Corporation and its Cobre Grande Project, please visit the Company's website at www.linearmetals.com or contact investor relations at (416) 216-4708 or within North America toll free at [1-866-376-7683].

Signed �Robert Page

Robert Page, Vice-President Exploration

 

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 Cobre Grande 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 Cobre Grande and there is no assurance that the mineralization at Cobre Grande 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

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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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