VANCOUVER, Jan. 26 /CNW/ - Logan Resources Ltd. (TSXV:LGR) (the
"Company") is pleased to announce that it has completed 20 drill holes
totaling 6,678.9 metres on its 100%-owned Redford Property, Vancouver Island,
British Columbia. One additional hole was in progress when the program was
shut down on December 22, 2008 and will be completed during February 2009.
Based on visual evaluation of the magnetite content of the core, the
program has successfully achieved its objectives which were to upgrade all or
a portion of the current indicated and inferred resources to the measured and
indicated resource categories and to increase the inferred category at depth
and along strike. Assays are pending and a new resource estimate will be
completed by the end of February.
Initial resource estimates on the Brynnor deposit determined measured
plus indicated mineral resources of 7,070,000 tonnes grading 51.3% iron
containing 5,750,000 tonnes of iron concentrate grading 63.7% iron; and
inferred resources of 18,620,000 tonnes grading 51.3% iron, containing
15,140,000 tonnes of iron concentrate grading 63.7%. For further details,
please refer to the Sept. 9, 2008 news release.
Mr. Peter George, P.Geo., as a consultant to the Company, is the
Qualified Person for the project and is responsible for the content of this
Logan Resources Ltd. is a mineral exploration company that specializes in
acquiring, exploring and advancing Canadian mineral properties. The Company
has a diversified portfolio of precious metal, base metal and uranium
projects. For more information on the property portfolio and the Company,
please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
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.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from registration is available.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: Earl Hope, Investor Relations, (604) 689-0299 x
232; Seamus Young, President and CEO, (604) 689-0299 x223