Lakeland Resources Inc. Reports Grades of Up To 130 g/t Gold from New Discovery on Midas Gold Property, Ontario


VANCOUVER, Sept. 20, 2011 /CNW/ - Lakeland Resources Inc. (TSXv: LK) (the "Company" or "Lakeland") is pleased to report the discovery of a new, high-grade gold occurrence on its 100%-owned Midas Gold Property near Wawa, Ontario. Mapping of the property, being conducted in conjunction with the Company's 1,500 metre summer diamond drill program, identified a new surface gold discovery which returned grab sample values ranging from 2 g/t gold to 130 g/t (4.1 oz/t) gold. Spectacular visible gold was found in one sample (this sample was not sent for assay) and a picture can be viewed on the Company's website at This new discovery is located approximately 500 metres west, and along strike of drill hole M-11-04 which returned 5.92 g/t gold over 4.70 metres from the M-16 Zone (see press release of May 18, 2011).

The new discovery is located along a prominent geophysical trend which links the M-16 and M-11 Zones discovered earlier this year to this new surface gold discovery. Stripping and detailed sampling of the new discovery will be undertaken as soon as freezing conditions provide better access for mechanized equipment.

The Company also reports that the Phase II, eleven hole, drill program has now been completed on the Midas Property. Assay results will be released in their entirety upon receipt. Holes M-11-06 through M-11-16 were drilled to test the strike and depth potential of the M-16 and M-11 gold discoveries announced in May, as well as other geophysical anomalies that were left untested after the Phase I drill program. A drill hole location map will be posted on the Company's website.

"The discovery of a new, high-grade gold occurrence along the projection of the Midas Gold Trend continues to highlight the potential of the project which is road accessible and located proximal to currently producing gold mines in the Wawa area," stated Jonathan Armes, President. "The new discovery adds a significant strike component to the trend and will lead to an expanded surface mapping and sampling program on the property."

Highlights from the five hole, Phase I drill program included 4.7 metres of 5.92 g/t gold; including 8.88 g/t gold over 2.6 metres and 12.07 g/t gold over 0.8 metres in drill hole M-11-04 (M-16 Zone) and 7.03 g/t gold over 2.0 metres in drill hole M-11-05.

The Midas Gold Property is geologically situated within the Michipicoten Greenstone belt and consists of 10 claims (107 claim units) covering 1,712 hectares approximately 50 km northeast of Wawa Ontario. The property is road accessible and is located approximately 20 km southeast of Richmont Mines' (TSX: RIC) Island Gold Mine complex and Prodigy Gold's (TSXv: PDG) Magino Gold Project and less than 30 km from the past producing Edward's Mine.

Appointment Alex Falconer as CFO and Director

The Company also announces the appointment of Alex Falconer, C.A. to the position of Director and CFO. Mr. Falconer brings over ten years experience in the junior mining exploration field, and currently serves as CFO for Rainbow Resources Inc. Alex has an in-depth knowledge of the junior financing markets and regulatory processes as well as a proven record of accomplishments in structuring and securing capital for initial business funding through to the public company finance stage.

Mr. Falconer replaces Troy Nikolai as CFO and Director. Lakeland wishes to extend its thanks and appreciation for his tenure over the past year.

NI 43-101 Disclosure

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Robert Duess, P.Geo., a Qualified Person.

Lakeland has implemented a quality control program for all of its drill programs to ensure best practice in the sampling and analysis of the drill core which includes the insertion of blanks and certified standards into the sample stream. NQ-sized drill core is saw cut or split with half of the drill core sampled and the remaining half of the core stored on-site at the Company's core shack in Wawa, Ontario. Drill core samples are transported in security sealed bags to Accurassay Laboratories in Thunder Bay, Ontario for industry standard analysis.

About Lakeland Resources Inc.

Lakeland Resources Inc. is a publicly-traded mineral exploration company focused on creating shareholder wealth through the discovery of new gold deposits with a 100% focus on Canadian assets principally in Ontario. Lakeland aims to create value through the drill bit and build a successful mineral exploration company by combining technical knowledge, a motivated management team and board, strong and clear messaging and supportive investors.

Lakeland has 19,472,878 shares outstanding. The Company's common shares trade on the TSX Venture Exchange under the symbol "LK."

For more information, please visit the corporate website at

On Behalf of the Board of Directors

"Jonathan Armes"

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that stripping and detailed sampling of the new surface discovery will be undertaken as soon as freezing conditions provide better access for mechanized equipment and that assays results from the Phase II summer drill program will be released in their entirety upon receipt.

It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.  Readers should refer to the risk disclosures outlined in the Company's Management Discussion & Analysis of its audited financial statements filed with the British Columbia Securities Commission.

For further information:

Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222

Profil de l'entreprise

Lakeland Resources Inc.

Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.