Deep Holes at Linear Metals KM61 Project Show Molybdenum Mineralization Continues to Depth
TORONTO, ONTARIO–(Marketwire – Sept. 24, 2008) – Linear Metals Corporation (TSX:LRM) is pleased to announce drill core assays from three deep holes drilled below the centre of the Main Zone, and assays from one short hole on the high-grade (greater than or equal to 0.1% molybdenum) “73 Zone” at its 100% owned KM61 Project located in Ontario, Canada. The deep holes, K-08-98 to K-08-100, confirm the vertical continuity of the zone to at least 400 metres and significantly open up the depth extent of the zone, from 300 to 400 metres vertical, which is expected to positively impact the eventual tonnage of the deposit. The shallow hole, K-08-103, confirms the lateral continuity of the high-grade “73 Zone”, which has been traced over a strike length of at least 200 metres, and now over true widths of up to 50 metres.
Highlights from the most recent drill results in the Main Zone include:
– K-08-98: 59.4 metres(i) of 0.061% molybdenum, 0.22% copper and 5.0 grams per tonne silver starting at 332.1 metres;
– K-08-99: 329.13 metres(i) of 0.067% molybdenum, 0.08% copper and 2.4 grams per tonne silver starting at 182.0 metres;
– K-08-100: 90.2 metres(i) of 0.072% molybdenum, 0.06% copper and 1.7 grams per tonne silver starting at 273.2 metres; and,
– K-08-103: 60.48 metres of 0.108% molybdenum, 0.09% copper and 2.7 grams per tonne silver starting at surface.
Notes: (i): reported as Cumulative Thickness or “CT”, see Note 3 in table below for explanation.
Based on the encouraging results from the deep drilling, the original Phase II, 25,000 metre delineation drill program, was increased to 31,000 metres. The additional drilling included approximately 2,500 metres to fill in several drill gaps in preparation for the resource calculation later this fall and the drill program was completed on September 20th.
Composite assay results for the intervals of greater than 0.04% molybdenum in holes K-08-98 to K-08-100 and K-08-103 are detailed in the table below. Please refer to Linear Metals’ website at www.linearmetals.com for prior drill results and a drill hole location map.
Table 1. Drill Hole Composite Results ——————————————————————– ——– ________________________________ Molyb-______ Silver______________________ ________________________________ denum Copper__grams/ ______________________ DDH#______ From______To Metres1______%______%__tonne______________ Comments ——————————————————————– ——– K-08-98__ 56.00__ 74.50__ 18.50__0.057__ 0.11____1.5__uncut Mo equals 0.098% ——————————————————————– ——– ________ 216.50__234.50__ 18.00__0.060__ 0.19____4.4______________________ ——————————————————————– ——– ________ 332.08__367.28__ 35.20__0.059__ 0.27____6.0______________________ ——————————————————————– ——– ________ 374.08__398.25__ 24.17__0.065__ 0.14____3.5______________________ ——————————————————————– ——– incl____ 385.00__391.00____6.00__0.187__ 0.14____4.8______________________ ——————————————————————– ——– ________ 434.10__482.09__ 47.99__0.044__ 0.09____3.2______________________ ——————————————————————– ——– ________ 483.39__487.00____3.61__0.044__ 0.06____1.3______________________ ——————————————————————– ——– ________ 491.86__526.36__ 34.50__0.040__ 0.16____4.7______________________ ——————————————————————– ——– __CT____ 332.10__398.25__ 59.40__0.061__ 0.22____5.0______________________ ——————————————————————– ——– ——————————————————————– ——– K-08-99__182.00__225.50__ 43.50__0.083__ 0.10____2.9__uncut Mo equals 0.165% ——————————————————————– ——– incl____ 213.50__225.50__ 12.00__0.122__ 0.09____2.5______________________ ——————————————————————– ——– ________ 236.00__265.00__ 29.00__0.090__ 0.06____2.0______________________ ——————————————————————– ——– incl____ 246.50__258.55__ 12.05__0.162__ 0.06____2.1______________________ ——————————————————————– ——– ________ 272.00__322.50__ 50.50__0.103__ 0.09____2.6__uncut Mo equals 0.115% ——————————————————————– ——– incl____ 273.94__295.00__ 21.06__0.140__ 0.10____2.8__uncut Mo equals 0.171% ——————————————————————– ——– ________ 355.00__379.00__ 24.00__0.084__ 0.15____4.3______________________ ——————————————————————– ——– ________ 386.60__411.00__ 24.40__0.055__ 0.04____1.2______________________ ——————————————————————– ——– ________ 438.00__595.73__157.73__0.049__ 0.08____2.1__ uncut Mo equals 0.05% ——————————————————————– ——– incl____ 494.00__508.50__ 14.50__0.103__ 0.12____3.7__uncut Mo equals 0.106% ——————————————————————– ——– __CT____ 182.00__595.73__329.13__0.067__ 0.08____2.4______________________ ——————————————————————– ——– incl CT 182.00__379.00__171.40__0.083__ 0.09____2.6______________________ ——————————————————————– ——– ——————————————————————– ——– K-08-100 273.16__323.00__ 49.84__0.084__ 0.07____2.1______________________ ——————————————————————– ——– incl____ 276.50__299.00__ 22.50__0.130__ 0.05____1.4______________________ ——————————————————————– ——– ________ 339.08__379.42__ 40.34__0.056__ 0.05____1.2______________________ ——————————————————————– ——– ________ 435.20__445.10____9.90__0.052__ 0.16____3.3______________________ ——————————————————————– ——– ________ 487.00__494.00____7.00__0.044__ 0.06____0.9______________________ ——————————————————————– ——– __CT____ 273.16__379.42__ 90.20__0.072__ 0.06____1.7______________________ ——————————————————————– ——– ——————————————————————– ——– K-08-103__ 4.00__ 64.48__ 60.48__0.108__ 0.09____2.7__uncut Mo equals 0.110% ——————————————————————– ——– incl______ 4.00__ 23.50__ 19.50__0.146__ 0.07____2.3______________________ ——————————————————————– ——– incl______40.50__ 57.50__ 17.00__0.155__ 0.10____2.9__uncut Mo equals 0.164% ——————————————————————– ——– Note 1: Intersections in the table above are based on core length, but ________with holes drilled at -45 degrees across the dip of the ________mineralized zone, the intersection widths are thought to be ________approximately 80% of true widths. Average sample length is ________1.5 metres. All molybdenum values greater than 0.5% reported in ________composites are cut to 0.5% molybdenum. Uncut values are noted for ________reference purposes only. Note 2: Where two or more composites are shown for a hole, gaps in the ________composite values are occupied by lower grade mineralization of ________0.01 to 0.04%, or more often by post-mineral dykes. Post- mineral ________dykes or low grade zones of less than 5.0 metres width are included ________in the composite calculations. Post-mineral dykes or low grade ________zones of greater than 5.0 metres width are deemed the end of a ________mineralized interval. Note 3: “CT” equals cumulative total, the weighted average of all composites ________with the width of post-mineralization, waste-rock dykes or low grade ________zones greater than five metres in width removed.
Main Zone – Deep Holes
All three of the deep holes intersected excellent mineralization at depth below the Main Zone. The new deep holes will add significant tonnage to the calculated resource, and have implications for the eventual depth of a planned open pit.
K-08-98 intersected 0.061% molybdenum, 0.22% copper, and 5 grams per tonne silver, over a CT thickness of 59.4 metres, from 332.1 metres, as well as lower grade zones of 0.044% and 0.040% molybdenum from 434 to 526 metres. In the upper part of the hole, a high grade molybdenum vein (1.01% molybdenum over 1.5 metres) was intersected within a wider 18.5 metre section of 0.057% molybdenum, starting at 56 metres, which may herald the start of an additional higher grade zone, within the overall lower grade envelope, along the north flank of the Main Zone, as based on visual observation, a similar high grade vein (assays pending) was intersected in the upper part of K- 08-104, 75 metres to the east.
K-08-99 had an overall intersection (diluted) from 182 to 592 metres, of 410 metres at 0.052% molybdenum (0.081% uncut), 0.063% copper, and 1.8 grams per tonne silver. Within this 410 metre interval are several higher grade zones, summarized by a CT thickness of 329.13 metres at 0.067% molybdenum, 0.08% copper and 2.4 grams per tonne silver, beginning at 182.0 metres, including a CT thickness of 171.4 metres at 0.083% molybdenum, 0.09% copper and 2.6 grams per tonne silver also beginning at 182.0 metres.
K-08-100 returned an excellent CT thickness of 90.2 metres at 0.072% molybdenum, 0.06% copper, and 1.8 grams per tonne silver, starting at 273 metres. The +0.04% molybdenum zone seen in the bottoms of K-08-98 and -99 is present in the bottom of K-08-100, but not as well developed, only exceeding the nominal 0.04% molybdenum cutoff over short sections.
Hole K-08-103 was drilled as a 50 metre spaced in-fill between holes K-08-73 and K-08-76, to confirm continuity of the “73 Zone”. K- 08-73 had previously intersected 13.5 metres of 0.110% molybdenum, while K-08-76 had previously intersected 10.5 metres of 0.124% molybdenum, followed by 9.0 metres of 0.135% molybdenum. K-08-103 intersected a significantly wider interval of high grade mineralization with 60.5 metres of 0.108% molybdenum, 0.09% copper and 2.7 grams per tonne silver. The zone has now been traced over a minimum strike length of 200 metres, intersected to the east by previously released hole K-08-101, which intersected 5.8 metres of 0.113% molybdenum.
“With the completion of the Phase II drilling, Linear is now focused on completing a 43-101 compliant resource estimate before year end and following up on additional priority targets to the northeast of KM61′s Main Zone.”, reports Robert Page, Linear’s V.P. of Exploration. “This resource estimate should be enhanced by the presence of better than average grade mineralization in the near surface such as that seen in holes K-08-103, as well as additional tonnage provided by the significant intersections at depth.”
Expanded Soil Survey Encounters New Molybdenum Anomalies
Linear is also pleased to report that soil sampling has produced several new and potentially significant molybdenum anomalies to the northeast of the Main Zone. These samples were collected on a GPS- based 100 x 100 metre “grid” over the eastern end of a long arcuate airborne radiometric trend that hosts the Main Zone. This eastern end of the trend, has now produced three large, strong molybdenum- copper-silver anomalies (T1 to T3). These anomalies are located roughly on strike with the Main Zone and are 500 to 1500 metres east from the easternmost drill hole. The strength of the molybdenum anomalies is equal to, or up to 50% greater than, those which outline the Main Zone mineralization. Anomaly T1 measures approximately 200 x 300 metres, and is located approximately 600 metres from the nearest drill hole, while anomaly T2 is located approximately 1000 metres from the nearest drill hole and measures approximately 400 x 500 metres. Anomaly T3 is located approximately 1500 metres from the nearest drill hole, is approximately 300 x 300 metres, and is strengthening and open to the northeast. All three areas are to be followed up with trenching and additional sampling this fall.
The technical information in this press release was prepared under the supervision of Matt Rees, P.Geo., Chief Geologist, a qualified person as defined by National Instrument 43-101. Assaying of samples during the 2007-2008 Phase I and Phase II programs is being performed by ALS Chemex in Vancouver, British Columbia. Linear has a detailed QA/QC program in place involving the regular submittal of blanks, duplicates and external reference standards with the core samples.
Completion of a 43-101 compliant resource estimate on Linears’ KM61 project will complement the initial 43-101 compliant resource estimate on its Cobre Grande project completed in April 2008 and outlining 49.8 million tonnes at an average grade of 0.92% copper- equivalent. For further details on Linear Metals Corporation and its projects please visit the Company’s website at www.linearmetals.com.
Brian MacEachen, President & CEO
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 KM61 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 KM61 and there is no assurance that the mineralization at KM61 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.
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