Lakeland Resources Announces Commencement of Drilling on the Kam Property
28.11.2012 | The Newswire
November 28, 2012 - Lakeland Resources Inc. (TSXv: LK) (the "Company" or "Lakeland") is pleased to announce the commencement of exploration drilling on the Kam Property located near Iron Bridge, Ontario.A diamond drilling program of a minimum of 500 metres is planned as a first phase of exploration drilling on the project. The drill program is being conducted to verify historical results from drilling carried out in the 1930's. Seven grab samples were taken from historic trenches along the strike of the Copper Prince vein on the Kam Property and copper values of 0.366% Cu to 7.14% Cu were recovered. In addition, anomalous gold values were detected in three of the samples with the highest value being 0.495 g/t Au.
The Kam Property consists of one claim (9 units) encompassing approximately 128 hectares and is contiguous to the west of the former producing Copper Prince Mine where a non-compliant 43-101 resource of 50,000 tonnes of 3% copper is reported. This is a historical resource not compliant to NI 43-101. There was no review of the methods of calculating this resource. The Company believes the Kam Property includes the westerly extension of the historically mined Copper Prince vein which appears to have a strike length of some 300 metres exposed in historic trenches where it disappears under thicker overburden.
The Phase I drilling program is expected to take approximately 10-14 days to complete. Drill core will be saw cut and shipped to an accredited laboratory for testing and assays will be released upon receipt in their entirety.
The independent Qualified Person responsible for the review and approval of the technical material presented in this news release is Mr. Garry Clark (P. GEO), a Director of Lakeland Resources Inc. Mr. Clark is an independent Qualified Person as defined by Canada's NI 43-101
About Lakeland Resources Inc.
Lakeland Resources Inc. is a publicly-traded mineral exploration company focused on creating shareholder wealth through the discovery of new gold deposits with a 100% focus on Canadian assets principally in Ontario. Lakeland aims to create value through the drill bit and build a successful mineral exploration company by combining technical knowledge, a motivated management team and board, strong and clear messaging and supportive investors.
For more information, please visit the corporate website at www.lakelandresources.com
On Behalf of the Board of Directors LAKELAND RESOURCES INC.
"Jonathan Armes"
Jonathan Armes President, CEO and Director
Cell: 416.708.0243
Email: jarmes@lakelandresources.com
Web: www.lakelandresources.com
The TSXV has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The TSXV has neither approved nor disapproved the contents of this news release.
All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.
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