Legend Gold Announces First Results from Lakanfla Drilling Program, Zone 1 - Intersection of 7 metres of 9.53 gpt Au from Hole 11LKRC-005 in Zone 1 (section 8,400 north)- Including 2 metres of 32.58 gpt Au - Intersection of 3 metres of 2.98 gpt in Ho
- Intersection of 7 metres of 9.53 gpt Au from Hole 11LKRC-005 in Zone 1 (section 8,400 north)
- Including 2 metres of 32.58 gpt Au
- Intersection of 3 metres of 2.98 gpt in Hole 11LKRC-006 in Zone 1 (section 8,400 north)
TORONTO, ONTARIO -- (Marketwire) -- 06/14/11 -- Legend Gold Corp. (the 'Company' or 'Legend Gold') (TSX VENTURE: LGN) is pleased to announce results from the first 19 holes of a 114 hole reverse circulation drill program at our Lakanfla gold project ('Lakanfla') in western Mali. Drilling from the program is designed to test the near-surface continuity of previously discovered zones 1, 2, and 3 and to test other geochemical anomalies on the property. A total of 10,536 metres were drilled to a maximum hole depth of 108 metres. Lakanfla is located adjacent to the Sadiola Gold Mine ('Sadiola' owned by AngloGold Ashanti, IAMGOLD, and SEMOS).
All results, which are the subject of this press release, are from Zone 1. Current drill results have extended Zone 1 from 350 to 500 metres in length. Additional step out holes have been drilled and results are pending for holes located 200 metres and 400 metres northeast of Hole 11LKRC-005. RC drill logs indicate that the shear zone continues northeast for the next 400 metres. All holes have been oriented to 270 degrees azimuth. Drilling from Legend's 2003 program was oriented to 90 degrees azimuth. Oxidation typically occurs to a depth of approximately 90 metres within the mineralized zone, so all reported gold intercepts are within the zone of oxidation.
Scott Waldie, Legend Gold's President and CEO, said, 'This is a very encouraging start for our drill results at Lakanfla. Step out holes drilled on sections located 200 and 400 metres north of RC drill hole 11LKRC-005 will test the northeast trending strike of this zone. There has been no diamond drilling in this area and controls to mineralization are not well understood at this time but we are highly encouraged by the results of this drilling. Changing drill orientation from east to west has revealed previously unrecognized gold mineralization that indicates the possibility of a wider zone than previously understood. High-grade gold mineralization occurs within a broad shear zone of lower-grade gold, which is approximately 50 metres wide. Mineralization is oxidized and described from rock chips as silicified zones within metapelite. This is consistent with descriptions of mineralization at the Sadiola's FE3/FE4 satellite pit, which is located two kilometres north of Lakanfla.'
Mr. Waldie went on to say, 'This drill program is just the beginning of our goal to explore and develop Lakanfla with continued drilling in Q4 2011. This property is located adjacent to the operating FE3/FE4 pit at the Sadiola Gold Mine, which has produced in excess of one million ounces. Grades reported by AngloGold Ashanti, operator of Sadiola, indicate approximate head grades of 2.25 gpt at FE3/FE4. Based on successful results from drilling, Legend Gold will begin infill drilling of zone 1 in Q4 2011 with high expectations to repeat the success seen at Sadiola's FE3/FE4 ore body.'
TABLE 1: Significant Assay Results - 'Lakanfla' - 0.2 gram per tonne cut-off
(Note 1)
Reverse Circulation Drilling
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HOLE NUMBER FROM TO LENGTH GOLD ASSAY
(m) (m) (m) (grams per tonne)
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11LKFRC-005 49.0 53.0 4.0 2.21
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includes 49.0 51.0 2.0 4.13
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60.0 67.0 7.0 9.53
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includes 65.0 67.0 2.0 32.58
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11LKFRC-006 60.0 63.0 3.0 2.98
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includes 60.0 62.0 2.0 4.30
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77.0 79.0 2.0 0.74
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11LKFRC-007 47.0 48.0 1.0 3.39
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11LKFRC-057 57.0 58.0 1.0 1.40
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Note 1: Intersections are calculated down the drill holes using a 0.2 gram
per tonne (gpt) or 200 part per billion (ppb) assay cut-off and allowing a
maximum of 2 metres of internal waste. Assays immediately following the
internal waste must carry the waste interval to be included in a particular
intersection. 'Includes' is calculated using a 1.0 gpt or 1000 ppb assay
cut-off with the same internal waste criteria. 0.2 gpt or 200 ppb was chosen
as a cut-off to show the wide continuity of the mineralization and to
reflect the potential bulk mining of the entire zone. All drill hole
inclinations are -55 degrees and true width of the mineralization is 50%-75%
of the reported drill intercept depending on the drill angle. All gold
intersections do not include a 'top cut' on high-grade values.
To ensure reliable sample results Legend Gold has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. RC chips are logged and a representative sample is retained in a secured facility for verification purposes. DDH core is logged, photographed and sawn in half where one half of the core is submitted for analysis and the other half retained as a representative sample in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent local laboratory. Prepared samples are direct-shipped to a local independent laboratory for analysis using a FA50-AAS (Fire Assay on 50 gram sample with an Atomic Absorption finish).
Qualified Person
This news release has been reviewed and verified by H. Andrew Daniels, P. Geo, a Qualified Person as defined by National Instrument 43-101. Mr. Daniels has over 25 years of mineral exploration and mining experience, is a Licensed Professional Geologist in the Province of Ontario and a member in good standing.
About The Company
Legend Gold is a mineral exploration and development company focused on exploring for gold in the Republic Of Mali, West Africa. Our four main projects are the Tiekoumala, Lakanfla, Diokeba, and Dalakan projects. In recent years, we have made significant gold discoveries on the Tiekoumala project located in Southern Mali, and the Lakanfla project located in Western Mali. Legend Gold has 62,523,411 common shares issued and outstanding (82,543,018 shares on a fully diluted basis). Please visit our website www.legendgold.com to for more information about our projects.
This news release may contain forward-looking statements that are based Legend Gold Corp.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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:
Legend Gold Corp.
Scott Waldie
President & CEO
416.703.6348
swaldie@legendgold.com
Renmark Financial Communications Inc.
Barry Mire
514.939.3989 or 416.644.2020
bmire@renmarkfinancial.com
Renmark Financial Communications Inc.
Matthew Planche
514.939.3989 or 416.644.2020
mplanche@renmarkfinancial.com