Legend Gold Announces Signing of Drilling Contracts for Exploration in Mali
06 1월 2014 - 9:30PM
Marketwired
Legend Gold Announces Signing of Drilling Contracts for Exploration
in Mali
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 6, 2014) -
Legend Gold Corp. (the "Company" or "Legend Gold")
(TSX-VENTURE:LGN) is pleased to announce the commencement of
drilling for the season.
Legend Gold has contracted for a minimum of 5,000 m of reverse
circulation (RC) drilling and 10,000 m of air core (AC) drilling
for the Diba and Lankafla projects in western Mali and the Mougnina
project in southern Mali.
In western Mali, Legend Gold plans to explore for extensions to
the Diba-Badiazila resource which contains 234,000 oz at 1.67 g/t
gold of indicated and 26,700 oz of inferred mineralization at 1.9
g/t at 0.8 g/t gold cutoff (AMEC's NI 43-101 compliant Technical
Report, August 2013). There remain a number of gaps in the AMEC
resource which can be in-filled by a number of shallow RC holes to
bring the oxide resource from the indicated and inferred categories
to measured and indicated. The oxide resource evaluated to date
extends to about 50 m below the surface. A minimum of 3,000 m of RC
drilling will be used to infill gaps in the existing resource as
well as testing the immediate on-strike extensions of the Diba
deposit. Analysis of previous results derived from drilling
completed by Etruscan Resources in 2009 suggests that additional
resources remain to be discovered on-strike from the known
mineralization, along a 2 km long soil auger geochemistry anomaly
to the northwest. Several lines of RC and core holes drilled by
Etruscan Resources about 1.5 km to the NNW of Diba yielded multiple
mineralized intervals which warrant follow up drilling.
Preliminary results of a ground gravity survey on the Lankalfa
project area suggest that areas that have been drilled previously
warrant additional exploration. New and upgraded targets revealed
by the final interpretation of the gravity survey will also be
included in the 2,000 m of RC drilling planned for Lankafla.
In southern Mali, exploration by Legend Gold on the Mougnina
exploration license, some twenty kilometers north of the Syama
mine, has mapped a series of ancient artisanal workings which are
coincident with soil auger gold anomalies. The ancient workings
appear to be on splays off the same fault system that controls
mineralization at the Syama mine. At least 5,000 m of AC drilling
are planned to test the soil auger gold anomalies and artisanal
workings.
The drill program is expected to commence in early February
2014.
Douglas Perkins, President and Chief Executive Officer of Legend
Gold stated, "The data review and project ranking that took place
over the past three months is now complete and the technical team
has chosen their priorities for the current drilling season. Given
the current state of the exploration business, Legend Gold was able
to obtain some very competitive quotes for meters. We look forward
to announcing the results as soon as they are available."
Qualified Person
Dr. Demetrius Pohl, Ph.D., AIPG Certified Geologist, a qualified
person under NI 43-101 standards, is responsible for ensuring that
the information contained in this news release is an accurate
summary of the original reports and data provided to or developed
by Legend Gold Corporation.
About Legend Gold
Legend Gold is a mineral exploration and development company
focused on exploring for gold in the Republic of Mali, West Africa.
Legend Gold's fifteen main projects include the Lakanfla, Diba,
Badiazilia, Mougnina, and Tiekoumala among others. There have been
significant discoveries made at Diba, Lakanfla and Tiekoumala.
Please visit Legend Gold's website www.legendgold.com to view
project details.
This press release has been prepared by Legend Gold Corp.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Statements contained in this news release that are not
historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward-Looking Information includes, but is
not limited to, disclosure regarding possible events, conditions or
financial performance that is based on assumptions about future
economic conditions and courses of action; the timing and costs of
future exploration activities on the Company's properties; success
of exploration activities; permitting time lines and requirements;
time lines for technical reports; planned exploration and
development of properties and the results thereof; and planned
expenditures and budgets and the execution thereof. In certain
cases, Forward-Looking Information can be identified by the use of
words and phrases such as "plans", "expects" or "does not expect",
"is expected", budget", "scheduled", "suggest", "optimize",
"estimates", "forecasts", "intends", "anticipates", "potential" or
"does not anticipate", believes", "anomalous" or variations of such
words and phrases or statements that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". In making the forward-looking statements
in this news release, the Company has applied several material
assumptions, including, but not limited to, that the current
exploration and other objectives concerning its mineral projects
can be achieved and that its other corporate activities will
proceed as expected; that the current price and demand for gold
will be sustained or will improve; that general business and
economic conditions will not change in a materially adverse manner;
the continuity of the price of gold and other metals, economic and
political conditions and operations. Forward-Looking Information
involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by the
Forward-Looking Information. Such risks and other factors include,
among others, risks related to the availability of financing on
commercially reasonable terms and the expected use of proceeds;
operations and contractual obligations; changes in exploration
programs based upon results of exploration; future prices of
metals; availability of third party contractors; availability of
equipment; failure of equipment to operate as anticipated;
accidents, effects of weather and other natural phenomena and other
risks associated with the mineral exploration industry;
environmental risks; certainty of mineral licenses; community and
governmental relations; delays in obtaining governmental approvals
or financing; fluctuations in mineral prices; the nature of mineral
exploration and mining and the uncertain commercial viability of
certain mineral deposits; the Company's lack of operating revenues;
governmental regulations and the ability to obtain necessary
licenses and permits; changes in environmental laws and regulations
and changes in the application of standards pursuant to existing
laws and regulations which may increase costs of doing business and
restrict operations; risks related to dependence on key personnel;
and estimates used in financial statements proving to be incorrect;
as well as those factors discussed in the Company's public
disclosure record. Although the Company has attempted to identify
important factors that could affect the Company and may cause
actual actions, events or results to differ materially from those
described in Forward-Looking Information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
Forward-Looking Information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on Forward-Looking Information. Except as
required by law, the Company does not assume any obligation to
release publicly any revisions to Forward-Looking Information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Legend Gold Corp.Douglas PerkinsPresident and Chief Executive
Officer(604) 669 0660 or Mobile: (514) 806
6788dperkins@legendgold.comwww.legendgold.com
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