Levon's Phase 2 Drilling at Cordero Returns 114 m Grading 126 g/t Ag, 0.485 g/t Au, 0.93% Zn, 2.18% Pb Including Higher Grade Limestone Replacement (Manto) Mineralization of 26 m Grading 410.1 g/t Ag, 1.057 g/t Au, 2.92% Zn, 7.06% Pb
Including Higher Grade Limestone Replacement (Manto) Mineralization of 26 m Grading 410.1 g/t Ag, 1.057 g/t Au, 2.92% Zn, 7.06% Pb
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/13/10 -- Levon Resources Ltd. ('Levon') (TSX VENTURE: LVN)(BERLIN: LO9)(FRANKFURT: LO9) is pleased to report the latest available assay results for an additional 11 holes in the Phase 2 drill program at the Cordero silver, gold, zinc, lead porphyry district located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico. Highlights include:
-- Hole C10-31 at the northern extension of the Pozo de Plata Diatreme
drill grid has returned 114 m grading 126 g/T Ag, 0.485 g/T Au, 0.93%
Zn, 2.18% Pb, including a newly discovered, higher grade limestone
replacement (manto) type mineralization (26 m grading 410.1 g/T Ag,
1.057 g/T Au, 2.92% Zn, 7.06% Pb).
-- Hole C10-39 at the present southwest corner of the drill grid returned
136 m grading 69.6 g/T Ag, 0.52 g/T Au, 0.91% Zn, .97% Pb in breccia
dike and diatreme hosted mineralization.
Current analytical results are summarized in Table 1 for the available Phase 2 drill holes in the Pozo de Plata drill grid ( past Phase 2 holes were published in the Levon news release of April 7, 2010) and a potential extension in the Josephina Mine area 450 metres to the southeast. In Table 1 sample lengths are core intervals and true widths are unknown. Hole locations are in Table 2. The current drill hole map and north south drill sections in the Pozo de Plata drill grid are posted on Levon's website (www.levon.com)
Table 1: Summary of currently available Phase 2 drill assays
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Ag
len- Eq
from to gth Ag Au Zn Pb (g/T)
Hole Zone (m) (m) (m) (g/T) (g/T) (%) (%) (i)
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C10-23 Josephina 0 16 16 112.0 0.07 0.07 0.07 121
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C10-23 Josephina 118 128 10 416.5 0.13 4.80 1.76 617
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C10-23 Josephina 148 200 52 41.1 0.06 0.92 0.59 89
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C10-23 Josephina 214 260 46 16.1 0.02 0.90 0.44 57
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C10-23 Josephina 300 416 116 49.7 0.10 1.28 0.94 122
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C10-24 Pozo de Plata Diatreme No
high
inter-
vals
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C10-25 Josephina 8 16 8 68.3 0.02 0.30 0.10 81
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C10-25 Josephina 72 80 8 47.6 0.06 1.30 0.64 109
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C10-26 Pozo de Plata Diatreme 0 18 18 16.3 0.25 0.09 0.46 49
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C10-26 Pozo de Plata Diatreme 130 158 28 67.7 0.51 0.84 0.94 154
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C10-26 Pozo de Plata Diatreme 224 270 46 148.9 0.45 2.04 1.99 297
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C10-26 Pozo de Plata Diatreme 284 328 44 14.6 0.24 0.36 0.33 51
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C10-28 Pozo de Plata Diatreme 28 46 18 37.8 0.11 0.66 0.57 81
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C10-28 Pozo de Plata Diatreme 122 192 70 70.9 0.51 1.13 1.06 168
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C10-28 Pozo de Plata Diatreme 278 300 22 14.0 0.20 0.30 0.28 44
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C10-30 Pozo de Plata Diatreme 6 20 14 16.0 0.15 0.09 0.38 40
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C10-30 Pozo de Plata Diatreme 136 322 186 28.1 0.22 0.51 0.43 70
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C10-30 Pozo de Plata Diatreme 340 356 16 68.7 0.23 3.03 1.55 218
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C10-31 Pozo de Plata Diatreme 14 32 18 29.4 0.18 0.21 0.38 58
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C10-31 Pozo de Plata Diatreme 46 128 82 27.9 0.14 0.36 0.38 58
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C10-31 Pozo de Plata Diatreme 158 272 114 126.0 0.49 0.93 2.18 249
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C10-31
Incl. Pozo de Plata Diatreme 186 212 26 410.1 1.06 2.92 7.06 772
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C10-32 Josephina 230 288 58 91.8 0.10 1.99 1.09 188
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C10-33 Pozo de Plata Diatreme 12 58 46 21.0 0.09 0.20 0.28 40
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C10-33 Pozo de Plata Diatreme 94 110 16 28.2 0.11 0.31 0.39 56
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C10-33 Pozo de Plata Diatreme 124 198 74 65.9 1.04 0.80 1.28 196
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C10-33 Pozo de Plata Diatreme 224 246 22 47.8 1.08 0.19 0.87 151
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C10-33 Pozo de Plata Diatreme 284 328 44 21.1 0.13 0.18 0.33 44
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C10-34 Pozo de Plata Diatreme 16 62 46 17.2 0.07 0.35 0.21 38
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C10-35 Pozo de Plata Diatreme Assays
pending
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C10-39 Pozo de Plata Diatreme 32 168 136 69.6 0.52 0.91 0.97 159
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C10-39 Pozo de Plata Diatreme 232 274 42 22.9 0.26 0.10 0.38 55
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C10-40 Pozo de Plata Diatreme Assays
pending
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(i) Silver equivalent calculated using the following metal prices: silver at
$15 per ounce, gold at $1,000 per ounce, zinc at 90 cents per pound and
lead at 90 cents per pound and assumed net metal recoveries
(metallurgical and smelter deductions) of 70% for silver and gold and
50% for zinc and lead. Actual metal recoveries have not been determined.
Table 2: Drill Hole locations (co-ordinates in CONUS Nad 27, UTM zone 13)
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HoleID Xm Ym Zm Length_m Azimuth Dip
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C10-23 443074 3014029 1568 500.6 0 -60
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C10-24 442755 3014092 1552 501.7 0 -60
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C10-25 442926 3014038 1562 500.4 0 -60
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C10-26 442706 3014146 1554 488.8 0 -60
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C10-28 442754 3014145 1552 463.1 0 -60
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C10-30 442752 3014199 1586 398.7 0 -60
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C10-31 442698 3014250 1587 392.6 351 -60
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C10-23 443074 3014029 1568 500.6 350 -60
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C10-33 442700 3014200 1575 341.8 348 -60
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C10-34 442600 3014100 1575 267.0 348 -60
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C10-35 442600 3014100 1575 494.1 0 -90
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C10-36 442650 3014300 1580 319.7 320 -60
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C10-37 442650 3014300 1580 420.0 354 -60
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C10-39 442600 3014050 1580 661.0 0 -60
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C10-40 442600 3014200 1548 490.9 0 -60
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C10-46 442750 3014250 1592 374.0 0 -60
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C10-47 442800 3014150 1600 285.0 0 -60
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C10-48 442549 3014100 1574 500.0 0 -60
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Phase 2 drilling began January 12, 2010 and 42 holes have been drilled to date (15,000 meters, with two holes in progress) to follow up on 2009 Phase 1 drill results (reported in November 03, 2009 news release). HD Drilling, Mazatlan, Mexico has two core rigs on site drilling 24 hours a day.
Pozo de Plata Diatreme Complex
Phase 2 grid drilling is on 50 m centers and has offset the discovery hole C09-5 in an area that measures about 350m north south and 300 m east west with coherent Ag, Au, Zn, Pb drill intercepts often at, or near the surface to vertical depths of 300 m. To date 27 core holes have been drilled in the zone with assays returned from ALS Chemex Labs for 17 complete holes.
Ag, Au, Zn, Pb values are associated with fine to coarse grained, intergrown galena, sphalerite and very fine grained, possibly silver sulfides within diatreme breccia and discordant felsic breccia dikes that are also ultimately incorporated into the diatreme breccia. Newly discovered higher grade manto replacement mineralization is nearly massive and comprised of intergrown coarse galena and sphalerite, with accessory pyrite after limestone blocks and septa within the Diatreme. The mineralized zone remains open north, west and southwest, but may be closed off to the east by late mineral, dacite dikes and barren limestone encountered in holes C10-24 (Table 1) and C10-47 (assays pending).
Josephine Mine Diatreme - Southeast Extension
Holes C10-23, 25, 32 and 45 were drilled along an east west drill fence on 150 m hole centers to test for mineralized diatreme breccia at depth (Table 2). Holes 23 and 32 have returned several wide intervals of mineralization 300 m and 450 m (respectively) east of the Pozo de Plata drill grid that are hosted in Tertiary dacite breccia dikes, vein zones and mineralized diatreme breccia as projected (including 116 m grading 122 g/T Ag equivalents from 300 to 416 m in hole C10-23) (Tables 1 and 2). Hole 25 intersected rhyolite with several narrow intervals of mineralization and does not connect up the zones. Additional drilling is required to define the limits of the Josephina mineralization and completely test the areas between the zones. Assays for hole 45 are pending.
Airborne Geophysics
This week Aeroquest of Mississauga, Ontario, Canada is mobilizing to Cordero to fly a combined airborne magnetic, EM, and radiometric survey to cover the entire Cordero Porphyry Belt, which now includes six known intrusive centers, including three diatreme complexes aligned within a northeast trending belt 15 km on strike and 3-5 km wide, and is covered by the Levon lands.
'With our continuing drill success, we intend to accelerate the programs as long as the drill results warrant, in order to realize the full discovery potential of the Cordero Porphyry Belt we are defining. In large bulk tonnage systems like Penasquito, which we believe is directly analogous, the mineralized geology should meet or exceed expectations and the test of the drill'... comments Ron Tremblay, President and CEO, Levon Resources. 'Our immediate goal is to find additional outlying mineralization similar to the Pozo de Plata Diatreme discovery in diatreme complexes we have identified in Dos Mil Diez and the Molena de Viento Caldera Diatreme Complex that require offset grid drilling. We now know Cordero is a strong mineralized system and we need to see how far it goes, particularly to the southwest' adds Vic Chevillon, VP Exploration, Levon.
QA/QC Procedures and Reporting Parameters
HQ diameter core samples were collected in continuous two-metre lengths, from sawed core. Some core that appears barren has been split, not sawed. All of the samples mentioned in this release were transported to, prepared and analyzed by ALS Chemex at its labs in Chihuahua, Mexico, and Vancouver, Canada. Gold analyses were performed by 30-gram fire assay with an atomic absorption finish. Silver, zinc and lead were analyzed as part of a multi-element inductively coupled argon plasma (ICP) package using a four-acid digestion with over-limit results being reanalyzed with assay procedures using ICP-AES. Summary assay intervals as reported above were selected based on a 30 g/T Ag equivalent cut-off with inclusion of up to no more than 10 metres of internal below cut-off values averaging not less than 15 g/T Ag equivalent.
The project is under the direct supervision of Vic Chevillon, MA, CPG, Levon's Vice-President of exploration. The company employs a rigorous quality assurance and quality control program that include standardized material, blanks and duplicates. AMEC Americas Ltd. has designed the QAQC protocol from a study and review of information provided by the company to AMEC. Vic Chevillon who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
On the corporate level, after many years of service to Levon, Director Florian Riedl-Riedenstein has retired from the Board of Directors for personal reasons. Levon thanks Florian for his insight and leadership over the years.
Levon is a junior gold and precious metals exploration company exploring the Cordero silver, gold, zinc and lead project near Hidalgo Del Parral, Chihuahua, Mexico. The Las Mesas gold-silver-lead-zinc project, Durango, Mexico. The Norma Sass and Ruf claims located near the Pipeline gold deposit, which is being mined and explored by Barrick Gold Corporation in the heart of the Cortez Gold Trend in Lander County, Nevada, USA. The Company also holds key land positions at Congress, BRX, and Wayside in the productive Bralorne Gold camp of British Columbia, Canada.
For further information contact Levon Resources Ltd. at (604) 682-3701, or log onto our website www.levon.com.
LEVON RESOURCES LTD.
Ron Tremblay, President and CEO
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading 'Risk Factors' and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Levon Resources Ltd.
Ron Tremblay
President and CEO
(604) 682-3701
(604) 682-3600 (FAX)
www.levon.com