Toronto, Ontario � Linear Metals Corporation (TSX: LRM) is pleased to announce drill core assays confirming the continuity of molybdenum mineralization over significant widths at its KM61 discovery, through in-fill testing of the Main Zone, as well as identification of significant higher grade zones (>0.1% molybdenum) at, or near surface, within the Main Zone.
Highlights from the most recent drill results in the Main Zone include:
-
K-08-73: 227.9 metres*1 of 0.056% molybdenum, 0.10% copper, 2.4 grams per tonne silver;
-
K-08-76: 102.8 metres*1 of 0.064% molybdenum, 0.08% copper, 2.0 grams per tonne silver;
-
K-08-78: 222.5 metres of 0.063% molybdenum, 0.06% copper, 1.8 grams per tonne silver;
-
K-08-79: 78.0 metres*1 of 0.056% molybdenum, 0.10% copper, 4.2 grams per tonne silver; and
-
K-08-82: 101.8 metres of 0.053% molybdenum, 0.09% copper, 2.9 grams per tonne silver.
-
K-08-83: 313.4 metres*1 of 0.051% molybdenum, 0.09% copper, 2.8 grams per tonne silver;
-
K-08-84: 251.0 metres*1 of 0.070% molybdenum, 0.10% copper, 2.5 grams per tonne silver;
-
K-08-85: 297.4 metres*1 of 0.061% molybdenum, 0.10% copper, 2.5 grams per tonne silver;
-
K-08-86: 199.8 metres*1 of 0.058% molybdenum, 0.07% copper, 1.8 grams per tonne silver.
Notes: *1: reported as Cumulative Thickness or �CT�, see Note 3 in table below for explanation.
At a cut-off of 0.04% molybdenum, the combined mineralized zones (Main and Southwest) now extend over 1,600 metres and are up to 350 metres wide, flanked by zones of lower grade mineralization (0.01 to 0.04% molybdenum), particularly along the north margin, extending the full width of mineralization to as much as 500 metres. Within the 1,600 metres, there is a 100 metre section, between the Main and Southwest Zones, where mineralization has yet to be confirmed (drill hole in progress). The deposit remains open along strike to the north-east and at depth, with many holes bottoming in mineralization. Mineralization has been confirmed from surface to a depth of approximately 300 metres and a series of three deep holes are in progress to test the Main Zone to a vertical depth of 600 metres.
Linear is nearing completion of a 25,000 metre delineation drill program with results provided herein from 18 diamond drill holes (K-08-62, and K-08-70 to K-08-86), representing approximately 5,800 metres of the Phase II drill program, initiated in December 2007, at Linear�s 100%-owned KM61 project. The results from approximately 19,500 metres, through 57 drill holes, have now been reported from this program. As previously stated, Linear intends to complete a 43-101 compliant resource estimate before year end.
In addition to delineation of the larger Main Zone resource, Linear is also identifying areas of the Main Zone that contain higher grade molybdenum (>0.1%) at or near surface, as potential �starter pit� resources. To date, Linear has identified three at-surface zones, from west to east, the �73 Zone�, the �23 Zone�, and the �6B Zone�, named for the discovery drill hole (or trench, in the case of 6B). Except for the �73 Zone� which is new, the initial results from the other high grade zones have been previously released (K-07-23: 9.5 metres of 0.102% molybdenum, 0.09% copper and 2.0 grams per tonne silver; TR-07-6B: 18.3 metres of 0.113% molybdenum, 0.11% copper, and 4.5 grams per tonne silver).
Additional previously reported high grade zones, although not currently delineated at surface, are the �66 Shoot� (K-08-66: 15.3 metres of 0.415% molybdenum, 0.21% copper and 11.8 grams per tonne silver), located at the far west end of the Main Zone, and the �17 Zone� (K-07-17: 56.9 metres of 0.113% molybdenum, 0.08% copper and 1.8 grams per tonne silver), located in the south-central part of the Main Zone, both of which are currently known to extend up to a vertical depth of about 70 metres from surface.
Composite assay results for significant intervals of greater than 0.04% molybdenum are detailed in the tables below.. Please refer to Linear Metals� website at www.linearmetals.com for prior drill results and a drill hole location map.
Table 1. Main Zone Results
DDH# |
. |
From |
To |
Metres1 |
Molybdenum % |
Copper % |
Silver grams/tonne |
Comments |
K08-70 |
Main |
99.0 |
111.0 |
12.0 |
0.080 |
0.06 |
1.6 |
edge of �66 Shoot� |
|
|
|
|
|
|
|
|
|
K08-73 |
Main2 |
1.8 |
39.0 |
37.3 |
0.058 |
0.04 |
1.3 |
|
|
including |
13.5 |
27.0 |
13.5 |
0.110 |
0.06 |
1.6 |
part of near surface high grade �73 Zone�, bottoms in FWT4 |
|
|
79.5 |
99.0 |
19.5 |
0.045 |
0.10 |
3.0 |
|
|
|
118.5 |
138.7 |
20.2 |
0.094 |
0.09 |
2.9 |
|
|
|
160.5 |
311.4 |
150.9 |
0.051 |
0.12 |
2.6 |
|
|
CT3 |
|
|
227.9 |
0.056 |
0.10 |
2.4 |
|
|
|
|
|
|
|
|
|
|
K08-76 |
Main |
2.7 |
44.0 |
41.3 |
0.056 |
0.04 |
1.3 |
|
|
including |
21.0 |
31.5 |
10.5 |
0.124 |
0.04 |
1.2 |
part of near surface high grade �23 Zone� |
|
|
53.4 |
90.7 |
37.3 |
0.065 |
0.07 |
1.8 |
|
|
|
136.3 |
160.5 |
24.2 |
0.076 |
0.15 |
3.3 |
bottoms in FWT |
|
CT |
|
|
102.8 |
0.064 |
0.08 |
2.0 |
|
|
|
|
|
|
|
|
|
|
K08-78 |
Main |
88.5 |
311.0 |
222.5 |
0.063 |
0.06 |
1.8 |
bottoms in FWT |
|
|
|
|
|
|
|
|
|
K08-79 |
Main |
11.3 |
89.3 |
78.0 |
0.056 |
0.10 |
4.2 |
|
|
|
119.9 |
153.6 |
33.7 |
0.034 |
0.08 |
2.6 |
|
|
|
160.7 |
178.0 |
17.4 |
0.046 |
0.07 |
2.2 |
|
|
|
192.0 |
310.0 |
118.0 |
0.048 |
0.10 |
2.4 |
bottoms in FWT |
|
CT |
|
|
247.1 |
0.048 |
0.08 |
2.4 |
|
|
|
|
|
|
|
|
|
|
K08-82 |
Main |
168.2 |
270.0 |
101.8 |
0.053 |
0.09 |
2.9 |
|
|
|
321.0 |
332.1 |
11.1 |
0.063 |
0.12 |
3.3 |
|
|
|
|
|
|
|
|
|
K08-83 |
Main |
17.5 |
32.5 |
15.0 |
0.041 |
0.05 |
1.7 |
|
|
|
110.0 |
212.1 |
102.1 |
0.066 |
0.10 |
2.8 |
uncut Mo = 0.068% |
|
|
223.6 |
281.0 |
57.4 |
0.044 |
0.07 |
2.8 |
|
|
|
301.6 |
455.5 |
153.9 |
0.040 |
0.09 |
2.8 |
|
CT |
|
|
313.4 |
0.051 |
0.09 |
2.8 |
|
|
|
|
|
|
|
|
|
|
K08-84 |
Main |
127.1 |
233.0 |
105.9 |
0.079 |
0.09 |
2.6 |
uncut Mo = 0.087% |
|
including |
160.0 |
193.0 |
33.0 |
0.118 |
0.14 |
3.6 |
uncut Mo = 0.140% |
|
|
254.0 |
271.9 |
17.9 |
0.064 |
0.12 |
2.5 |
|
|
|
282.0 |
364.4 |
82.5 |
0.073 |
0.11 |
2.3 |
|
|
|
368.8 |
380.4 |
11.7 |
0.051 |
0.11 |
2.3 |
|
|
|
398.5 |
431.5 |
33.0 |
0.044 |
0.11 |
2.7 |
bottoms in FWT |
|
CT |
|
|
251.0 |
0.070 |
0.10 |
2.5 |
|
|
|
|
|
|
|
|
|
|
K08-85 |
Main |
35.5 |
127.3 |
91.8 |
0.066 |
0.11 |
3.1 |
|
|
|
133.7 |
162.4 |
28.7 |
0.060 |
0.11 |
2.7 |
|
|
|
176.8 |
186.7 |
9.8 |
0.059 |
0.03 |
0.6 |
|
|
|
193.0 |
233.5 |
40.6 |
0.063 |
0.08 |
1.9 |
|
|
|
250.0 |
343.8 |
93.8 |
0.056 |
0.09 |
2.4 |
|
|
|
351.8 |
364.6 |
12.8 |
0.069 |
0.10 |
1.6 |
|
|
|
383.1 |
403.0 |
20.0 |
0.050 |
0.10 |
2.4 |
bottoms in FWT |
|
CT |
|
|
297.4 |
0.061 |
0.10 |
2.5 |
|
|
|
|
|
|
|
|
|
|
K08-86 |
Main |
59.3 |
132.1 |
72.8 |
0.056 |
0.06 |
2.0 |
|
|
|
141.0 |
206.6 |
65.6 |
0.084 |
0.06 |
1.9 |
|
|
including |
164.4 |
206.6 |
42.3 |
0.107 |
0.08 |
2.3 |
|
|
|
228.9 |
262.0 |
33.2 |
0.049 |
0.09 |
1.8 |
|
|
|
270.9 |
299.1 |
28.2 |
0.052 |
0.19 |
2.6 |
bottoms in FWT |
|
CT |
|
|
199.8 |
0.058 |
0.07 |
1.8 |
|
Note 1: Intersections in the table above are based on core length but with all holes drilled across the dip of the mineralized zone so that intersection widths are thought to be close to true widths. Average sample length is 1.5 metres. All molybdenum values >0.5% reported in composites are cut to 0.5% molybdenum. Uncut values are noted for reference purposes only.
Note 2: Where two or more composites are shown for a hole, gaps in the composite values are occupied by lower grade mineralization of 0.01 to 0.04%, or more often by post-mineral dykes. Post-mineral dykes or low grade zones of less than 5.0 metres width are included in the composite calculations. Post-mineral dykes or low grade zones of greater than 5.0 metres width are deemed the end of a mineralized interval.
Note 3: �CT� = cumulative total, the weighted average of all composites with the width of post-mineralization, waste-rock dykes or low grade zones greater than five metres in width removed.
Note 4: �FWT� = Footwall Tonalite
Drill holes K-08-73, K-08-76, K-08-78, K-08-79, and K-08-82 to K-08-86 were drilled in the Main Zone as in-fill holes to reduce some obvious drill gaps on sections, and to confirm the continuity of the mineralization along strike at 50 metre section spacing. These holes were generally spaced 100 metres apart and drilled at -45� to the southeast. The new holes successfully demonstrated the continuity of the mineralization at depth, and along strike, intersecting mineralization over significant widths, as detailed below. Also reported below are results for hole K-08-70, which targeted the strike extension of the high grade mineralization intersected in the �66 Shoot�:
- K-08-70 was drilled to test the high grade molybdenum mineralization intersected in K-08-66, along strike to the east, but appears to have largely overshot the northeast plunge of the �66 Shoot�. The hole did intersect the equivalent to the �66 Shoot�, returning 0.08% molybdenum over 12 metres, but otherwise intersected low grade mineralization below the arbitrary 0.04% molybdenum cutoff. Both holes K-08-80 and K-08-81 were also drilled along strike at approximately 25 metre spacing west and east of K-08-70 respectively, and both failed to intersect the higher grade shoot, although K-08-80 may have intersected a secondary shoot, south of the targeted �66 Shoot�, and will eventually be deepened, as it bottomed in 0.15% molybdenum. The results of additional holes on the �66 Shoot� are pending;
- K-08-73 located along the south flank of the Main Zone, intersected numerous zones of significant molybdenum mineralization, including a near surface higher grade zone of 0.11% molybdenum over 13.5 metres (�73 Zone�), for a cumulative total (CT) thickness of 227.9 metres at 0.056% molybdenum, 0.10% copper and 2.4 grams per tonne silver, before encountering lower grade mineralization and bottoming in Footwall Tonalite (�FWT�) at 376.0 metres;
- K-08-76, located 100 metres east of K-08-73, returned a narrower CT interval of 102.8 metres of 0.064% molybdenum, 0.08% copper and 2.0 grams per tonne silver, due to a strong deflection of the south margin of the Main Zone relative to K-08-73, but also intersected 0.124% molybdenum over 10.5 metres in the near surface and may correlate with the �73 Zone� high grade mineralization. The hole bottomed in FWT at 236.0 metres;
- K-08-78 intersected a short lower grade section (73 metres of 0.025%), before encountering a continuous interval of 225.5 metres of 0.063% molybdenum, 0.06% copper, 1.8 grams per tonne, and bottoming in FWT at 398.0 metres. This hole is located 150 metres further east than K-08-76, but collared along the north edge of the Main Zone, and as such appears to have crossed the entire width of the higher grade mineralization towards the northeast part of the zone;
- K-08-79, located 150 metres west of K-08-73, returned a significant intersection of 78.0 metres at 0.056% molybdenum, 0.10% copper, and 4.2 grams per tonne silver, before crossing a wide zone of slightly lower grade mineralization, returning a CT of 247.1 metres of 0.048% molybdenum, 0.08% copper and 2.4 grams per tonne;
- K-08-82 to K-08-86 were drilled as a fence along the center of the Main Zone, to compliment the previous wider spaced fence of even numbered holes K-07-30 to K-08-42, giving a 50 metre spacing between drill sections. All of these holes returned significant mineralized intersections. K-08-62, located at the southwest end of the fence in a lower grade part of the Main Zone returned 101.8 metres at 0.053% molybdenum, 0.09% copper, 2.9 grams per tonne silver. One hundred metres to the east, K-08-83 returned a CT of 313.4 metres of 0.051% molybdenum, 0.09% copper, and 2.8 grams per tonne silver, and a further 100 metres east, K-08-84 returned a CT of 251.0 metres at 0.070% molybdenum, 0.10% copper, and 2.5 grams per tonne silver. K-08-85, located another 100 metres east of K-08-84, returned a CT of 297.4 metres at 0.061% molybdenum, 0.10% copper and 2.5 grams per tonne silver, while K-08-86, located another 100 metres to the east, returned 199.8 metres of 0.058% molybdenum, 0.07% copper, and 1.8 grams per tonne silver.
K-08-62, K-08-74, K-08-75, and K-08-77 were drilled in the Northeast Extension of the Main Zone and encountered narrower zones of +0.04% molybdenum mineralization. Similar to previously reported holes in this area, the presence of largely copper-dominated �cap� mineralization in these holes, although with strong, narrower, molybdenum-bearing sections, indicates the potential for additional molybdenum mineralization at depth. All drill holes have intersected a prominent east-trending fault between the Main Zone and the Northeast Extension, which indicates that the Northeast Extension may be down-dropped by faulting relative to the bulk of the Main Zone (opposite to the apparent displacement of the Southwest Zone relative to the Main Zone).
Table 2. Main Zone - North East Extension
DDH# |
From |
To |
metres |
Molybdenum % |
Copper % |
Silver grams/tonne |
Comments |
K08-62 |
12.0 |
19.5 |
7.5 |
0.058 |
0.04 |
2.4 |
hole intersected mostly 0.01% Mo |
. |
31.5 |
56.4 |
24.9 |
0.042 |
0.04 |
1.6 |
|
. |
174.0 |
179.0 |
5.0 |
0.056 |
0.06 |
1.8 |
|
. |
|
|
|
|
|
|
|
K08-75 |
106.0 |
119.5 |
13.5 |
0.059 |
0.04 |
0.9 |
|
. |
205.0 |
218.3 |
13.3 |
0.042 |
0.04 |
1.9 |
|
Note 1: Intersections in the table above are based on core length but with all holes drilled across the dip of the mineralized zone so that intersection widths are thought to be close to true widths. Average sample length is 1.5 metres. All molybdenum values >0.5% reported in composites are cut to 0.5% molybdenum. Uncut values are noted for reference purposes only.
Note 2: Where two or more composites are shown for a hole, most gaps in the composite values are occupied by lower grade mineralization of 0.01 to 0.04%, or more often by post-mineral dykes. Post-mineral dykes or low grade zones of less than 5.0 metres width are included in the composite calculations. Post-mineral dykes or low grade zones of greater than 5.0 metres width are deemed the end of a mineralized interval..
K-08-71 and K-08-72 were drilled outside of the Main Zone to test outlying molybdenum in soil anomalies. K-08-71 targeted a large narrow soil anomaly on the south flank of the Main Zone, but intersected essentially barren FWT, indicating that the soil anomaly is likely caused by down slope dispersion. K-08-72 tested a discrete molybdenum-in-soil bull�s eye within the larger northwest soil anomaly.. The hole failed to explain the soil anomaly, but intersected the dacitic tuff sequence with multiple, narrow (< 1 metre) inter-bedded sulphide-bearing argillites. Several of the argillite horizons assayed anomalous copper (0.08%), cobalt (0.019%), zinc (0.27%) and silver (1.1 grams per tonne), indicating potential for Besshi-type massive sulphide mineralization. This target will be investigated later in the summer.
The balance of the 25,000 metre drill program is focused on delineation of higher grade (>0.1% molybdenum) near surface portions of the Main Zone and testing of the Main Zone at depth (approximately 400 to 600 metres vertical depth), in preparation for the resource calculation.
The KM61 project benefits from excellent location and infrastructure. The project is located, east of Armstrong, Ontario, accessible by a 61 kilometre all-weather logging road, and only 12 kilometres by road from the main CN rail line at Ferland Station, where there are several rail sidings. Approximately six kilometres to the east of the project, Ontario Power Generation plans to complete an 85MW hydroelectric generating station by 2014, which will be connected to the Provincial power grid.
The technical information in this press release was prepared under the supervision of Matt Rees, P.Geo., Chief Geologist, a qualified person as defined by National Instrument 43-101. Assaying of samples during the 2007-2008 Phase I and Phase II programs is being performed by ALS Chemex in Vancouver, British Columbia. Linear has a detailed QA/QC program in place involving the regular submittal of blanks, duplicates and external reference standards with the core samples.
Completion of a 43-101 compliant resource estimate on Linears� KM61 project will complement the initial 43-101 compliant resource estimate on its Cobre Grande project completed in April 2008 and outlining 49.8 million tonnes at an average grade of 0.92% copper-equivalent. For further details on Linear Metals Corporation and its projects please visit the Company's website at www.linearmetals.com or contact investor relations at (416) 216-4708, or within North America at 1-866-376-7683.
Signed �Brian MacEachen�
Brian MacEachen, President & CEO
The TSX 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 KM61 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 KM61 and there is no assurance that the mineralization at KM61 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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