HALIFAX, July 6, 2011 /CNW/ - Linear Metals Corporation (TSX:LRM) 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.
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.
SOURCE Linear Metals Corporation
For further information:
Linear Metals Corporation
President and Chief Executive Officer