VANCOUVER, Nov. 9 /CNW/ - Logan Resources Ltd. (TSXV:LGR) today announced the results of the 2007 summer exploration and diamond drill program at its 100%-owned Heidi gold project in the Dawson and Mayo Mining Districts, Yukon Territory. The drill program successfully intersected gold mineralization in 14 of the 19 holes over a 1 km strike and the airborne geophysical program outlined significant new targets for the next phase of drilling. The extent of the horizons of alteration and mineralization intersected in both the 2006 and 2007 drill holes confirms the validity of the target indicated by geology, surface trenching and geophysical surveys. Continued diamond drilling is warranted from these encouraging results. The Heidi property has been expanded from 54 claims (1,000 hectares) to 220 claims (4,074 hectares) to secure additional ground covering promising new gold targets. The property is located 95 km northeast of Dawson City and 30 km east of the Dempster Highway.
Mineralization observed on the Heidi property to date consists of stratabound gold-bearing pyrite-arsenopyrite replacement zones in carbonate rich horizons and related quartz-sulphide breccia veins within the sedimentary stratigraphy. This sequence is peripheral to a buried intrusion similar to Scheelite Dome, Yukon Territory. The intrusion itself has potential to host bulk tonnage gold mineralization similar to the Fort Knox deposit in Alaska.
The 2007 diamond drill program was designed to test priority targets over extensive coincident induced polarization, magnetic and gold geochemical anomalies. The geological goal is the stratabound, silica-altered, gold-bearing pyrite-arsenopyrite vein-breccia horizon peripheral to the buried intrusive. This exploratory drilling program consisted of 19 holes totaling 2,685.88 metres (8,812 feet); fourteen holes intersected narrow zones of gold mineralization within the northern portion of the buried intrusion associated with stratabound silica alteration zones within the sedimentary country rocks above the intrusion. Gold assay results from the nine more significant 2007 drill intersections within these mineralized alteration horizons, follow at the end of the news release.
Geophysical interpretation of the 2007 airborne magnetic and radiometric surveys outlined a buried intrusion 6 km in diameter. The intrusion appears to belong to the Cretaceous aged Tombstone Suite as evidenced by the composition of the high level dykes and/or sills that have been mapped on surface. The northern and southern portions of the intrusion lie approximately 150 m below surface, generally just beyond the depth of the 2007 drill holes. Across the northern portion of the buried intrusion a variable higher grade magnetic signature extends across a 1.5 km zone and appears to reflect sulphide feeder zones associated with an underlying offshoot of the intrusion or dykes. Pyrrhotite (which is magnetic) has been identified within the sulphide zones on the property. The phase two drill program will test deeper targets identified by the 2007 airborne survey.
In the 2006 program, the Company completed two diamond drill holes totaling 425 metres (1,394 feet). This work was successful in confirming the continuity of gold bearing pyrite-arsenopyrite vein-breccia horizons up to 10 metres in width. Hole HDI-06-2 intersected a 26-metre mineralized horizon containing a 4-metre interval, from 15 to 19 metres, which assayed 2.09 g/t Au, including 4.04 g/t Au over 2 m. This confirmed historical surface trench results which returned values of 1 to 7 g/t Au over 1-metre chip intervals.
Gold assay results from nine of the more significant 2007 drill intersections:
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HOLE NO. FROM (M) TO (M) WIDTH (M) Au g/t
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HDI-07-06 81 83 2 1.02
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and 85 86 1 0.99
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HDI-07-07 119 122 3 1.51
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HDI-07-09 68 69 1 0.95
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HDI-07-10 169.47 170.38 0.91 1.10
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HDI-07-11 56.4 57.3 0.9 1.24
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and 195 197 2 0.60
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and 243 244 1 1.40
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HDI-07-13 142 143 1 1.09
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HDI-07-14 38 42 4 0.68
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HDI-07-16 104 105 1 1.23
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and 167 168 1 1.39
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HDI-07-17 90 92 2 0.67
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Eco Tech Laboratories Ltd. of Kamloops, B.C. analyzed the samples by ICP; gold was determined by fire assay. Normal QA/QC procedures were followed with assays of duplicates, standards and blanks. Eco Tech is an ISO 9001 accredited laboratory. Check assays were also conducted by Acme Analytical Laboratories Ltd., an ISO 9001 Accredited Co.
Michael Sanguinetti, P. Eng., Consulting Geologist, is the Qualified Person as defined by NI 43-101 with respect to the technical information contained herein.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. The Company has a diversified portfolio of base metal, precious metal and uranium projects. For more information on the property portfolio and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
ON BEHALF OF THE BOARD
"Seamus Young"
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Seamus Young
President and CEO
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information: Logan Resources Ltd., Seamus Young, President and CEO, (604) 689-0299 x 223
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