Lions Gate Metals Drills 184m of 0.32% Copper and 6.49 g/t Silver to Expand Mineralized Zone at Poplar Project, BC
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/04/11 -- Lions Gate Metals Inc. (TSX VENTURE: LGM) ('Lions Gate' or the 'Company') has expanded the mineralized zone at its 100% owned Poplar Project in north central British Columbia. The results of Holes 11-PC-92 and 11-PC-93 of its 2011 diamond drilling program have confirmed mineralization 200m north and 150m below historic drilling. The new holes have also revealed previously unknown silver values.
The Poplar porphyry copper deposit near Houston, BC is Lions Gate's flagship project. Located 35 kilometers from Imperial Metals' operating Huckleberry Mine, Poplar is easily accessible and well-known. Lions Gate is well funded, having recently raised $6 million (News Releases dated March 4, 2011 and March 8, 2011).
Company CEO Arni Johannson stated, 'We are pleased that the drill results continue to expand the previously defined zone of mineralization at the Poplar deposit, and that the mineralization remains open both laterally and to depth.'
Both new holes are mineralized over their entire length and end in mineralization. The results from the 2011 program also revealed highly elevated silver assays that had not been recognized previously. The Company is re-assaying the pulps from the first six holes of the 2011 program, using a complete digestion method for full silver recoveries.
---------------------------------------------------------------------------
HOLES 11-PC-92 TO 11-PC-93
---------------------------------------------------------------------------
Hole From (meters) To (meters) Results Width Cu % Au g/t Ag g/t
---------------------------------------------------------------------------
11-PC-92 8.23 502.00 493.77m 0.16% 0.05 1.48
---------------------------------------------------------------------------
including 200.23m 502.00m 493.77m 0.16% 0.05 1.48
---------------------------------------------------------------------------
including 378.70m 502.00m 123.30m 0.26% 0.07 1.21
---------------------------------------------------------------------------
11-PC-93 11.0 502.00 491.00m 0.20% 0.07 3.87
---------------------------------------------------------------------------
including 150.00m 470.96m 312.96m 0.23% 0.08 4.96
---------------------------------------------------------------------------
including 235.31m 418.96m 183.65m 0.32% 0.11 6.49
---------------------------------------------------------------------------
Lions Gate is currently analyzing the data received from the drill program so far to begin planning the second phase of diamond drilling at the Poplar Project. The company will use the results to update its NI 43-101 compliant resource estimate.
About Lions Gate Metals
Lions Gate is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage Copper projects. The company owns 100% of three substantial copper and molybdenum projects located in British Columbia. Lions Gate's flagship project is the Poplar porphyry copper - molybdenum deposit near Houston, BC. The Huckleberry Mine, located approximately 35 kilometres southwest of the Poplar Deposit, produces copper and molybdenum from a deposit of similar age and setting.
Andrew Gourlay, P. Geol., Vice President Exploration is a Qualified Person under NI 43-101 and has reviewed and approved the contents of this news release.
Sincerely on behalf of the Board of Directors,
Arni Johannson, CEO and Chairman of the Board
Lions Gate Metals Inc.
Lions Gate Metals Inc. is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage mineral projects.
Forward-Looking Statements
Statements in this release that are forward-looking statements, including statements subject to various risks and uncertainties concerning the specific factors identified in the Company's periodic filings with Canadian Securities Regulators. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Neither the 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:
Lions Gate Metals Inc.
Blair McIntyre
President
(604) 683-7588
www.LionsGateMetals.com