Linear Gold Provides Brazil Project Update
HALIFAX, NOVA SCOTIA–(Marketwire – Sept. 30, 2008) – Linear Gold Corp. (TSX:LRR) is pleased to provide an update on the previously announced drill program at the El Filao project as well as on exploration activities conducted at the Serrinha project, both projects are located in the Alta Floresta gold province of northern Mato Grosso state, Brazil.
The El Filao project is host to a vertically dipping high-grade gold mineralized vein system. Gold, in addition to strong silver values, occurs in quartz veins and associated massive sulphide veinlets consisting of galena, sphalerite and chalcopyrite hosted within altered rhyolite rock.
Highlights from the drill results at El Filao include:
– FDH-004: 5.07 metres of 10.2 grams gold per tonne and 26.1 grams per tonne silver, starting at 82.90 metres; and
– FDH-007: 2.46 metres of 6.5 grams gold per tonne and 14.5 grams per tonne silver, starting at 83.05 metres.
Seven core drill holes (FDH-001 to FDH-007) were completed for a total of 827 metres drilled to test the strike continuity of the El Filao vein system. The drill program was designed to complement results obtained from historical drilling of six holes drilled by a Brazilian operator in the mid-1990′s, indicating values from 9.6 grams gold per tonne up to 104 grams gold per tonne over widths of 0.75 to 1.7 metres in drill core, in addition to strong silver values. The Linear drill program and the historical drilling have tested 700 metres of the El Filao vein potential strike length at 100 metre step-out intervals.
Assay results for the significant intervals are included in the table below. Please refer to Linear Gold’s website at www.lineargoldcorp.com for historical drill results and a drill hole location map.
Table 1. Drill Hole Results ——————————————————————– —— ____________________________________________________Core____ Gold__ Silver Drill______Azimuth______ Dip____ From______ To____Length__ (grams/ __(grams/ Hole______(degrees) (degrees) (metres) (metres)__(metres)__ tonne)__ tonne) ——————————————————————– —— FDH-003________140______ – 50____66.42____68.17______1.75______0.4____ 13.9 ——————————————————————– —— ——————————————————————– —— FDH-004________140______ – 50____66.50____68.00______1.50______1.8______7.5 ——————————————————————– —— and____________________________82.90____87.97______5.07____ 10.2____ 26.1 ——————————————————————– —— including______________________84.85____87.97______3.12____ 16.3____ 35.3 ——————————————————————– —— ——————————————————————– —— FDH-005________140______ -50__ 101.20__ 101.83______0.63______0.7______4.2 ——————————————————————– —— and__________________________ 105.49__ 105.89______0.40______4.2______5.0 ——————————————————————– —— ——————————————————————– —— FDH-006________140______ -60__ 146.86__ 147.13______0.27______6.7____ 48.0 ——————————————————————– —— ——————————————————————– —— FDH-007________140______ – 55____83.05____85.51______2.46______6.5____ 14.9 ——————————————————————– —— including______________________83.05____84.55______1.50____ 10.4____ 23.8 ——————————————————————– —— including______________________83.05____83.96______0.91____ 14.5____ 38.1 ——————————————————————– ——
The Linear and historical drill results indicate, when measuring from an inferred fault which cuts-off the north-easterly striking El Filao mineralized vein system, that the vein system is continuous for a minimum strike length of 500 metres in a south-westerly direction and remains open to the southwest as the vein was intersected in holes FDH-004 through FDH-007 inclusively. On the eastern side of the inferred fault, drill hole FDH-002 did not intersect the strike extension of the El Filao vein; however, drill hole FDH-003 intersected a gold-bearing system located 70 metres to the north of the El Filao vein on the eastern side of the fault. This is interpreted to be the possible horizontal offset strike extension of the El Filao vein system. Drill hole FDH-001 was abandoned due to poor drilling conditions.
The drilling programs have defined a core zone of higher interest characterized by high-grade gold over reasonable mineralized widths located within an approximate 400 metres in strike length zone. The 400 metre long core zone starts at the inferred fault and continues along strike in a south-westerly direction. All six of the historical drill holes and two of the Linear drill holes, hole FDH- 007 and hole FDH-004, are located within this core zone. Hole FDH- 004 was drilled 100 metres along strike to the southwest of hole FDH- 007, hole FDH-005 was drilled 100 metres to the southwest of hole FDH-004 and hole FDH-006 was drilled 100 metres to the southwest of hole FDH-005.
Additionally drilling at the El Filao project is being considered and may be completed by Linear in the second quarter of 2009, following the rainy season.
At the Serrinha project, soil and rock sampling, geological mapping and prospecting was conducted throughout July and August. Exploration activities targeted an area that is host to the Serrinha gold-bearing quartz vein mineralized system which has been historically mined on surface by artisanal miners and measures approximately two metres in width. The vein was sampled and traced for 350 metres along strike and is open in both directions. The soil sampling survey was centred on the Serrinha vein covering a 400 metre by 1,000 metre area. Mapping and prospecting of past artisanal surface mining trenches located a further two mineralized quartz vein systems as well as one artisanal shaft. All rock and soil sample assay results are pending and will be reported when received.
During the final quarter of calendar 2007, Linear entered into separate agreements with a private Brazilian company for the exploration and potential acquisition of both the El Filao and Serrinha projects as well as the Apiacas and Trairao projects in the Alta Floresta gold province of northern Mato Grosso state, Brazil. Linear has informed the Brazilian company of their intention to terminate both the Apiacas and Trairao agreements.
This press release has been prepared under the supervision of Mr. Philip Pyle, Certified Professional Geologist who serves as the qualified person for this project under National Instrument 43-101. All samples of Linear Gold were submitted to SGS-Lakefield Labs in Belo Horizonte, Brazil with gold analysed by 50 gram charge digestion Fire Assay – AA finish. Other metals were analysed by aqua regia digestion with ICP finish. A detailed quality control program using blanks, standards and duplicates is being utilized with all sample analyses.
Linear Gold Corp. is actively exploring for gold and base metal deposits in Brazil and through joint ventures with Kinross Gold in Mexico and Everton Resources in the Dominican Republic.
Wade K. Dawe, President
This news release contains “forward-looking statements”. Such forward-looking statements, especially those that address resource quantities, grades, and contained metals, are generally made on the basis of estimation and extrapolation from a limited number of drill holes and metallurgical studies. Where the company expresses or implies an expectation as to future events or results, such expectation or belief is expressed in good faith and is believed to have a reasonable basis for the statement. However, forward-looking statements are subject to risks and uncertainties which could cause actual results to differ significantly from future results expressed or implied. These risks include, but are not limited to, metal price volatility, political and operational risks in the countries where we operate, and a degree of uncertainty in connection with evaluating a deposit until the deposit has been extensively drilled on closely spaced centres.
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