Legend Gold Corp.: FT Deposit Infill Oxide Drilling Intersects 35 m of 1.22 g/t Gold and Confirms Grade Continuity
19 7월 2014 - 6:34AM
Marketwired Canada
Legend Gold Corp. (the "Company" or "Legend") (TSX VENTURE:LGN) is pleased to
announce the results from 714 m of infill reverse circulation ("RC") drilling in
14 holes. The drill holes were located to provide intersections in oxide
mineralization in areas where sulfide grades had been extrapolated into the
oxide.
The results provide confirmation of the continuity and grade of oxide
mineralization on the FT deposit. The FT deposit lies with the Tabakorole
Exploration Permit Application area which replaces the Tiekoumala Exploration
Permit.
Significant intersections from the latest round of drilling are shown in the
table below. Intercepts are calculated at 0.5 g/t cut off and with up to 2
meters of internal waste. True widths of grade intervals are approximately 85%
of the downhole intercept based on the general dip of the mineralization.
------------------------------------------------------------
From To Width Au
Hole_ID (m) (m) (m) (g/t)
------------------------------------------------------------
14TKRC02 9 27 18 2.02
------------------------------------------------------------
14TKRC03A 0 29 29 1.25
------------------------------------------------------------
14TKRC04 0 35 35 1.22
------------------------------------------------------------
14TKRC06 24 41 17 0.68
------------------------------------------------------------
14TKRC07 17 21 4 1.95
------------------------------------------------------------
14TKRC07 27 31 4 2.47
------------------------------------------------------------
14TKRC08 1 26 25 0.93
------------------------------------------------------------
14TKRC08 41 50 9 1.14
------------------------------------------------------------
14TKRC09 30 47 17 0.63
------------------------------------------------------------
14TKRC09 51 55 4 3.26
------------------------------------------------------------
14TKRC10 4 20 16 1.85
------------------------------------------------------------
14TKRC10 31 32 1 3.41
------------------------------------------------------------
14TKRC12 25 27 2 1.35
------------------------------------------------------------
14TKRC13 10 13 3 0.87
------------------------------------------------------------
14TKRC14 18 32 14 0.70
------------------------------------------------------------
The oxide resource currently stands at 34,000 oz at 1.01 g/t gold in the
indicated category and 35,000 oz at 1.14 g/t gold in the inferred category. A
recalculation of the oxide resource incorporating the new drill intersections is
being prepared. The sulfide resource remains 207,000 oz at 0.94 g/t gold in the
indicated category and 318,000 oz at 1.03 g/t gold in the inferred category (A.
Daniels, Technical Report 2007).
QA/QC Procedures:
The entire volume of chips from each reverse circulation interval were
collected, dried and split on site into an approximately 2 kg subsample using a
Jones splitter on a meter by meter basis. The 2 kg sample was submitted to SGS
Laboratories ("SGS") in Bamako for crushing, grinding and 50 g gold fire assay
with AAS finish. Approximately 5% of both high and low grade, oxide gold
standards as well as 5% blanks were inserted into the sample stream before
delivery of the samples to SGS. Every 20 samples, a duplicate sample was created
from the chip rejects and included in the sample stream. RC pulps as well as RC
rejects are kept as a reference. A QA/QC analysis was performed on the results
of the standard, duplicate and blank sample assays. If results of adjacent
standards fell outside two standard deviations of the standard control assay,
samples from that batch were flagged for re-assay. All standards, duplicates,
and blanks passed the QA/QC validation protocols.
Qualified Person:
Dr. Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), Legend's
V.P. of Exploration, is the Company's Qualified Person for the purposes of
National Instrument 43-101 Standards of Disclosures for Mineral Projects of the
Canadian Securities Administrators, and has approved the written disclosure of
the technical information contained in this news release.
About Legend:
Legend is a mineral exploration and development company focused on exploring for
gold in the Republic of Mali, West Africa. Legend's principal projects include
the Diba, Lakanfla, Mougnina, and Tabakorole projects.
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
thereof or to reflect the occurrence of unanticipated events.
To view the map accompanying this press release, click on the following link:
http://media3.marketwire.com/docs/LGN718.jpg
FOR FURTHER INFORMATION PLEASE CONTACT:
Legend Gold Corp.
Douglas Perkins
President and Chief Executive Officer
(604) 696-9396 or Mobile: (514) 806-6788
dperkins@legendgold.com
www.legendgold.com
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