We are excited with the increase in grades and thicknesses of mineralization as we move north along the strike of the principal portion of the Cobre Grande skarn system. We are also pleased with the demonstration of continuity of mineralization to the south as we march along strike in both directions.
Halifax, Nova Scotia (PRWEB) January 11, 2007
Linear Metals Corporation (TSX-V: LRM) is pleased to announce that it has intersected the greatest thickness of copper-silver mineralization to date, at its Cobre Grande project in Mexico. Two new drill holes have successfully extended mineralization along strike to the north, south, and in a down-dip direction. Highlights from the first two holes of the recent program are as follows:
- 270.7 metres containing 1.0% copper and 23.2 grams per tonne of silver beginning at surface from hole CG-28
- including 48.2 metres containing 1.9% copper and 22.7 grams per tonne silver beginning at surface within the zone of oxidation.
- 52.0 metres containing 0.5% copper and 12.8 grams per tonne silver beginning at 48 metres depth from Hole CG-27
The ongoing drilling program is designed to test for extensions to copper mineralization identified by previous drilling in a skarn sequence hosted by Cretaceous aged carbonate rocks. The known strike length of the mineralization is now in excess of 1000 metres. The results of the drilling are summarized as follows:
Please see attached file for Drill Results
Hole CG-27 was drilled at an azimuth of 90 degrees and an inclination of -65 degrees and is located 86 metres WSW of hole CG-22 (drilled vertically containing 66 metres of 0.6% copper and 23.2 grams per tonne silver). The hole encountered a near surface high-grade oxidized skarn body from 0 to 7 metres containing 1.0% copper 99.0 grams per tonne silver and 5.9% zinc. The hole then encountered the predicted Cobre Grande breccia unit and passed into skarn-stockwork hosted mineralization from 48 to 194.5 metres with 146.5 metres averaging 0.3% copper and 8.5 grams per tonne silver. Within this zone was a higher grade 52.0 metre interval from 48 to 100 metres that averages 0.5% copper and 12.8 grams per tonne silver. The hole continues to show the westerly dip of the mineralization and indicates increased thickness of disseminated mineralization in the downdip direction. Hole CG-27 is currently the southernmost hole cutting strong disseminated copper mineralization along the strike of the Cobre Grande system and additional offsets will be required further along strike to the south as the system remains open to the south and down-dip.
Hole CG-28 is located 1000 metres ENE of hole CG-27, and was designed to test the northern strike extent of the Cobre Grande system. Hole CG-28 was drilled at an azimuth of 90 degrees and an inclination of -65 degrees and is located 56 metres north of hole CG-01 (CG-01 was drilled in the same orientation and intersected 134 metres of 0.9% copper and 21.6 grams per tonne silver). Hole CG-28 encountered strong oxide skarn-hosted mineralization from surface with the first 48.2 metres of the hole averaging 1.9% copper and 22.6 grams per tonne silver. The hole continued into strong sulphide skarn mineralization with massive sulphide development and strong stockwork development to 270.7 metres depth cutting a total of 270.7 metres that average 1.0% copper and 23.2 grams per tonne silver. This hole represents an important strike extension of high grade copper mineralization to the north of hole CG-01, and demonstrates a strong increase in both grade and thickness of the mineralized zone in this area. Additional drilling will now be required as the system remains open to the north along strike and in a down-dip direction.
A drill is currently on-site and additional drilling is planned to offset the copper and silver mineralization intersected by hole CG-28.
Linear Metals is earning an 80% interest in the 6,238 hectare Cobre Grande project by fulfilling the remaining terms of a purchase option agreement initially entered by Linear Gold Corp. with the community of San Baltazar Guelavila (the "Agreement"). The remaining terms of the Agreement require annual payments, over a three year period, totalling US$325,000 and additional project expenditures of approximately US$1.2 million by March 2009. At the end of the three-year option period, the community can choose between a US$12 million buyout, a 2% net smelter returns royalty or a 15% joint venture interest with the purchaser responsible for all capital outlays. Linear Gold retains a 20% interest in the Agreement, which Linear Metals can purchase, at any time prior to December 31, 2008 for US$1.2 million.
Phil Pyle, Linear Metals vice president of exploration, states: "We are excited with the increase in grades and thicknesses of mineralization as we move north along the strike of the principal portion of the Cobre Grande skarn system. We are also pleased with the demonstration of continuity of mineralization to the south as we march along strike in both directions."
Sample analyses were completed by ALS Chemex Laboratory of Vancouver B.C. Samples were assayed for gold by 30g digestion Fire Assay - AA finish and other metals by ICP.
This press release has been prepared under the supervision of Mr. David Rowe, Certified Professional Geologist, who serves as the qualified person for this project under National Instrument 43-101. A map of the project showing the location of all drill holes is available at the company's website http://www.linearmetals.com.
Linear Metals Corp. is actively exploring for silver and base metals in Mexico and Canada.
For further information please contact Terry Christopher, Manager Investor Relations, at 1-902-422-1421.
Signed "Wade K.Dawe"
Wade K. Dawe, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
European Investor Relations contact:
Nick Fuller or Samantha Fletcher
Fuller Fletcher & Associates Ltd
Tel: +44 207 256 5204
Fax: +44 207 256 5678