Results of Logan Resources' 2007 exploration program on the Shell Creek Copper-Gold Project



    VANCOUVER, Jan. 25 /CNW/ - Logan Resources Ltd. (TSXV:LGR) ("The
Company") today announced the results of the 2007 exploration program on its
100%-owned (subject to a 2% NSR), 656 claim (13,600 ha) Shell Creek Project,
located 75 km northwest of Dawson City, Yukon Territory.
    The property lies adjacent to the Tintina Fault; a major structure
associated with several high-grade mineral deposits. Shell Creek lies on the
margin of a 600 km(2) magnetic anomaly, along which IOCG type mineral
potential is recognized. Shell Creek hosts an 18 km(2) copper soil geochemical
anomaly along the margin of the largest gravity anomaly in the Yukon.
    The 2007 exploration program involved an airborne magnetic and
radiometric survey, 1,535 m of diamond drilling in 10 holes, mapping,
prospecting, additional soil sampling and securing access to the Yukon River.
Copper mineralization on the property is dominantly hosted by a chloritic
phyllite, approximately 100-300 m stratigraphically below a banded iron
formation that has been traced for 17 km (see Figure 1 at the following URL:
<a href="http://files.newswire.ca/674/logan_shell_creek.doc">http://files.newswire.ca/674/logan_shell_creek.doc</a>). Late in the drill
program, the sequence was interpreted as a redbed copper horizon (with the
banded iron formation representing the oxide horizon) initiating the
precipitation of copper (see News Release September 19, 2007). Previously
reported samples taken from this area of the property assayed between 1% and
2% Cu, which is consistent with the copper grades of such redbed copper
systems. Details of the 2007 drill program are included below.
    The 2007 exploration programme revealed a new gold target: a 750 m long
hydrothermal vein breccia discovery proximal to a high arsenic anomaly. Five
gold-copper bearing quartz saddle reef structures had been previously
identified on the property over a 6 km distance with visible gold observed in
quartz boulders (values of 3.8 g/t to 9.3 g/t Au from quartz float and 2.7 g/t
Au in soil). The property's new gold target will be evaluated in 2008.
    Five new radiometric anomalies were also identified by the 2007 airborne
magnetic and radiometric survey. Several of these anomalies have associated
magnetic signatures, interpreted as representing sulphide mineralization.
Anomalous potassium values cover a large aerial extent of the property; which
is consistent with a late stage IOCG model. A large magnetic anomaly in the
northern portion of the property has been interpreted as an intrusive. This,
combined with a coincident radiometric anomaly, represents an untested new
target area.
    The 2007 drill program was hampered by blocky ground conditions, lack of
definitive exposure (which occurs as talus and felsenmere), and complex
structure (an anticlinorium has been interpreted with recumbent folding
evident and the faulting is prolific due to its proximity to the Tintina
Fault). A fence of deeper holes across the copper bearing phyllite,
perpendicular to the regional structure (an overturned anticline), will be
necessary to test the stratigraphy. Trenching is necessary to determine the
orientation and structural complexity of the copper horizon prior to drilling.
    Specifications of the 2007 drill holes with UTM co-ordinates in Nad 83,
Zone 7 projection are as follows and holes are plotted on Figure 1 (see
<a href="http://files.newswire.ca/674/logan_shell_creek.doc">http://files.newswire.ca/674/logan_shell_creek.doc</a>).

    
    -------------------------------------------------------------------------
    Hole No.   Easting  Northing  Elev. (m)  Azimuth        Dip     Depth (m)
    -------------------------------------------------------------------------
    SCK 07-1   528507   7161491     1394   155 degrees  -80 degrees     52.4
    -------------------------------------------------------------------------
    SCK 07-1A  528507   7161491     1394   155 degrees  -45 degrees     48.2
    -------------------------------------------------------------------------
    SCK 07-2   526395   7162577     1307   150 degrees  -70 degrees    407.0
    -------------------------------------------------------------------------
    SCK 07-3   525557   7162748     1094   350 degrees  -50 degrees    380.4
    -------------------------------------------------------------------------
    SCK 07-4   530680   7161446     1072   155 degrees  -50 degrees    170.8
    -------------------------------------------------------------------------
    SCK 07-4A  530680   7161446     1072   155 degrees  -80 degrees     34.1
    -------------------------------------------------------------------------
    SCK 07-5   530680   7162371     1296   200 degrees  -45 degrees    113.4
    -------------------------------------------------------------------------
    SCK 07-6   531026   7161447     1182   335 degrees  -45 degrees     96.0
    -------------------------------------------------------------------------
    SCK 07-7   528091   7162408     1279   215 degrees  -70 degrees     39.6
    -------------------------------------------------------------------------
    SCK 07-8   528750   7162383     1321   215 degrees  -60 degrees    193.0
    -------------------------------------------------------------------------
    

    Holes SCK 07-2 and -3, encompassing over half of the drill footage,
targeted the older basaltic volcanic package in areas of high copper in soil
geochemistry. No significant values were obtained but the volcanic package is
uniformly enhanced in copper and probably provided the source of copper in the
overlying redbed copper horizon.
    Holes SCK 07-1, -1A, -4, -4A and -7 targeted the sedimentary/volcanic
contact in areas of high copper in soil and/or rock geochemistry or copper
mineralization. The holes were collared in the sedimentary package and did not
reach the volcanic rocks primarily due to highly fractured ground conditions.
No significant values were obtained.
    Hole SCK 07-6 targeted the contact between the sedimentary package and
the banded iron formation. Surface grab samples collected over a 250 m wide by
350 m long area returned an average of 0.3% Cu from 4 samples, and the hole
intersected 0.17% Cu over 0.2 m from 18.5 m to 18.7 m in chalcocite
mineralized chloritic phyllite, possibly intersecting a distal expression of
the copper bearing horizon. A surface grab sample approximately 800 m upslope
near the sedimentary/volcanic returned 0.94% Cu (sample 33398).
    Holes SCK 07-5 and -8 targeted copper bearing chloritic phyllite
stratigraphy below the banded iron formation but SCK 07-8 did not extend
through the iron formation.
    Limited prospecting along the southern limb of the copper bearing horizon
uncovered copper mineralization with maximum values of 0.32% Cu (sample 33391)
from grab samples. A grab sample from the fold nose area returned the highest
value from the prospecting program with 2.77% Cu in sample 33390.
    All samples were analyzed for gold and ICP by an ISO accredited
laboratory, with metallic screens completed on anomalous copper results.
Standard quality control procedures were employed and the Company inserted one
standard in every 50 samples sent to the laboratory.
    An aggressive exploration program, with a projected $3 million budget, is
proposed for 2008. This will include trenching, additional soil geochemistry
and diamond drilling. The copper bearing phyllite, particularly in the eastern
fold nose, and the gold zones will be systematically trenched followed by
diamond drilling. Soil sampling, mapping and prospecting will be extended to
the north to investigate the recently identified airborne geophysical survey
anomalies. The Company raised $3.2 million in December 2007 to fund
exploration programs in the Yukon. The Company has a drill contractor secured
for the 2008 season at Shell Creek. Permitting for a road to support the
trenching machinery is underway.
    Jean Pautler, P. Geo, Consulting Geologist, is the Qualified Person as
per NI 43-101 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. For more
information on the projects and the Company, please visit
www.loganresources.ca, www.sedar.com and www.sec.gov websites.

    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

Organization Profile

LOGAN RESOURCES LTD.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890