VANCOUVER, Sept. 19 /CNW/ - Logan Resources Ltd. (TSXV:LGR) today
announced that the results of the ongoing mapping, prospecting, geophysical
and geochemical surveys combined with the diamond drill program at its Shell
Creek copper project have demonstrated numerous consistencies with redbed type
Redbed copper systems are known to have immense grade and tonnage
potential. It is encouraging that the field work completed this season has
demonstrated the potential and the similarities of the Shell Creek project to
the redbed copper deposit model.
The banded iron formation at Shell Creek, which has been traced for 8 km
along strike, may represent a concentrated redbed sedimentary sequence. This
may have important implications for the size and grade of the associated
copper mineralization. The redbed type copper mineralization has been
discovered proximal to the south side of the north limb of the banded iron
formation, and the north side of the south limb. Logan has diamond drilled ten
holes at Shell Creek since July 26, 2007 and the helicopter-supported program
In addition to the drill program, the Company has collected over 30
samples of mineralized subcrop. Samples have been shipped to the lab and
assays will be reported when received. Previously reported samples taken from
this area of the property have assayed between 1% and 2% Cu, consistent with
the copper grades of redbed copper systems.
Mineralization at Shell Creek consists of disseminations, blebs and
fracture fillings of chalcocite, with minor bornite and lesser chalcopyrite,
primarily hosted by a chloritic phyllite. Grades of 2% Cu occur within the
chloritic phyllite but widths are presently difficult to determine due to
exposure in subcrop. The basaltic amygdaloidal flows and grey
siltstone/sandstones also host chalcocite and malachite mineralization, but
are generally less consistent host rocks and appear to have less chalcocite.
Malachite is the most common guide to areas of chalcocite mineralization which
is still not easy to detect under low light conditions. The mineralization
occurs proximal to the banded iron formation. Disseminated pyrite, up to 3-4%,
and disseminated magnetite occur peripheral to areas of copper mineralization.
Visible gold has been recovered from quartz vein material on the northeast
side of the property. Arsenopyrite was encountered in Hole SCK-07-08.
The 100%-owned Shell Creek property is located 75 km northwest of Dawson
City, Yukon. The property sits on the largest gravity anomaly in the Yukon.
The Tintina Fault, a major structure associated with several major mineral
deposits, transgresses the southern portion of this 11,000 hectare
(27,182 acre) property. A coincident IP and gravity anomaly further enhances
the significance of an extensive copper soil geochemical anomaly on the
Examples of redbed copper deposits include the Keweenaw Peninsula
deposits in Michigan, USA and the Coppermine River area, NWT; the Mountain
Grill and Radovan in east south-central Alaska; and include the Sustut copper
deposit in northern British Columbia (Minfile No 094D 064), which exhibits
strong similarities with Shell Creek.
Michael Sanguinetti, P.Eng, Consulting Geologist, is the Qualified Person
with respect to the technical information contained herein.
Logan Resources Ltd. is a mineral exploration company that specializes in
acquiring, exploring and advancing Canadian mineral properties prospective for
precious metals, base metals and uranium. For more information on the projects
and the Company, please visit www.loganresources.ca, www.sedar.com and
ON BEHALF OF THE BOARD
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.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: Seamus Young, President and CEO, (604) 689-0299
x 223; The RAYA Group, Investor Relations, Toll-free: 1-877-626-2121