October 18, 2016
VANCOUVER, BRITISH COLUMBIA, Logan Resources Ltd. (TSX-V: LGR) ('Logan' or the 'Company') announces that it has initiated a drilling program at its Brik gold property in Nevada. The project is subject to a previously-announced Option Agreement (see Logan news release July 7, 2016) with Pilot Gold Inc. ('Pilot').
The drilling program is planned to consist of at least ten reverse circulation drill holes totaling approximately 2,000 meters. Brik is one of several, low sulfidation epithermal gold and silver systems in southeastern Nevada that occur in an area of nested volcanic calderas. The claim block includes several exploration targets of which one, Hidden Treasure, is the current focus of Logan's exploration program.
Discovery outcrops at Hidden Treasure consist of gold-bearing quartz veins and breccias, which display evidence of multiple hydrothermal events in a structurally complex setting. The target centers on a prominent silicified knob that includes phases of milky quartz, chalcedonic quartz, and quartz breccia, covering an area roughly 200 x 200 meters. Drilling by Pilot in 2011 confirmed the presence of significant gold in the silica cap, returning results that averaged 1-3 g/t Au over 10-30 metres width (PB-17, PB 24, PB-25). Drill holes also encountered deeper, higher grade Au vein mineralization, with assay values to 15 g/t Au over 1.5 meters* (PB-19, PB 24). To see the complete Pilot drill results for the Hidden Treasure target click here or visit the Logan Resources website.
As reported in the September 20, 2016 News Release, both the silica cap and lower zone vein mineralization will be tested in the current program, together with geophysical targets interpreted to represent additional zones of silicification favorable for gold mineralization.
The Brik property is located in the Cedar Range of Lincoln County, Nevada. The nearest community is the town of Panaca, located 15 kilometers away. The property consists of 135 unpatented lode claims on public lands under BLM jurisdiction, owned by either Logan or Pilot.
To see a graphic with historic Pilot holes and the proposed Logan collars, click here or visit the Logan Resources website. The technical information within this document has been reviewed and approved by Dr. Craig S. Bow, Vice President Exploration for Logan. Dr. Bow is a Certified Professional Geologist with the American Institute of Professional Geologists and a Qualified Person as defined in National Instrument 43-101.
About Logan
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing mineral properties. For more information on the property portfolio and Logan, please visit www.loganresources.ca.
LOGAN RESOURCES LTD.
On behalf of the Board
'Mark Morabito'
Chief Executive Officer
For further information regarding this press release, please contact:
Investor Relations
T: 604-681-8030 x 240
F: 604-681-8039
E: [email protected]
www.loganresources.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.