HALIFAX, Feb. 15, 2012 - Linear Metals Corporation
(TSX:LRM) (OTC:LMTCF) is pleased to report the results from three shallow drill holes completed on the Kamwango grid. The Kamwango grid is located in the central part of Linear's Nyanza Project in southwest Kenya.
Highlights from the first three Kamwango grid drill holes include (all uncut, average gold grades over core lengths):
- KG -11-01: 3.34 grams per tonne ("g/t") gold over 5.96 metres ("m");
-- including: 4.55 g/t gold over 4.15 m;
- KG - 11-02: 10.68 g/t gold over 4.8 m;
-- including: 51.6 g/t gold over .81m;
- KG - 11-03: 5.0 g/t gold over 3.13 m;
-- and 4.16 g/t gold over 2.77 m
Drill holes KG 11-02 and 11-03 are two of three drill holes, completed in December 2011, displaying visible gold in the drill core as reported in the Company's press release dated January 9, 2012. A drill-hole location map is available on the Company's website at www.linearmetals.com.
KG 11-01 is located approximately 325 m southwest of any previous drilling, in an area of active artisanal mining, primarily concentrated on extensive quartz vein pebble-lag deposits. Pebble-lag deposits are known to erode from larger lode-gold ("reef") deposits and were found extending from the main gold reef at the past-producing Migori-Nyanza Mine, located approximately 40 kilometres southwest of the Kamwango grid. Recent mapping of the area has identified a quartz vein pebble-lag zone of mineralization extending in a roughly northeast trend over a composite area of approximately 1400 m (+) long and up to 800 m wide.
KG-11-02 and 11-03, located approximately 675 m northeast of KG-11-01, targeted an area of extensive artisanal mine activity where DDH-4, completed by Linear's partner B&M Mining Company Limited ("B&M") in 2003-04, reportedly collared in mineralization and intersected 81.4 g/t gold over 2.55 m. KG-11-02 was located approximately 27 m west of DDH-4, and KG-11-03 was located approximately 33 m south of KG 11-02.
Matt Rees, Linear's Vice President, Exploration commented: "The Kamwango area represents the largest known concentration of high-grade gold prospects in Linear's large district-scale property package. The results from these first three drill holes in the Kamwango area confirm the results of the previous drilling by B&M, and indicate the presence of near-surface, high-grade gold mineralization over a large part of the Kamwango area. The presence of a very large zone of quartz lag mineralization also indicates widespread vein systems."
Kamwango Exploration Program Update
Linear has recently initiated induced polarization ("IP") geophysical and lag geochemistry surveys over the Kamwango area. The IP survey will consist of 20 line kilometres of Gradient surveying on 100 m spaced lines with follow-up of Pole-Dipole lines where warranted. Linear expects to extend the IP and soil geochemistry coverage to the northwest with another 2 x 2 kilometre grid block covering additional artisanal workings.
This new sampling data will be critical in the development of an expanded drill program which will be announced following the results of the IP and geochemical surveys as well as ongoing mapping in the area. Linear anticipates the expanded drill program will be designed to better define the mineralized zones intercepted in previous drilling as well as test multiple new drill targets in the Kamwango area.
The results from drill-holes KG-11-04 and 11-05, completed in December 2011, are expected over the coming weeks.
This press release was prepared under the supervision of Matthew Ian Rees, M.Sc., P.Geo., VP Exploration for Linear Metals, who is a Qualified Person as defined under National Instrument 43-101. Mr. Rees has reviewed the scientific and technical information in this press release. Core samples were all split using a diamond saw. Standards, duplicates and blanks are submitted with the core samples for QA/QC monitoring. Samples are stored in a locked building onsite, and delivered to Mwanza by Company vehicles and drivers, in numbered, tamper-proof tagged gunny sacks. All assays reported were performed by SGS Laboratories in Mwanza, Tanzania.
About Linear Metals Corporation
is focused on the exploration of a district-scale land package along a prolific gold-hosting greenstone belt in southwest Kenya. The 2,000 square kilometre property package has the potential to host multiple mineral deposits and provides Linear with an opportunity to advance the projects for the benefit of all stakeholders. Linear's exploration programs are focused on areas that have the potential to deliver large-scale deposits and success.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, continuity of mineralization, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The likelihood of future mining at the Nyanza Project is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for pits and processing facilities as well as receipt of significant additional financing to fund these objectives, as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at the Nyanza Project and there is no assurance that the mineralization at the Nyanza Project will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com
Kamwango Drill-hole Assay Results
(all uncut, average gold grades over core length widths)
Drill Hole From (m) To (m) Approx. Vertical Depth (m) Core Width
For further information:
Linear Metals Corporation
(m) Gold (g/t)
KG-11-01 147.52 153.48 114 5.96 3.34
including 149.33 153.48 - 4.15 4.55
KG-11-02 30.1 34.9 25 4.8 10.68
including 25 0.81 51.6
and 36.2 39.6 - 3.4 0.94
KG-11-03 54.5 58.33 49 3.83 4.14
including 55.2 58.33 - 3.13 5.00
and 64.0 68.38 57 4.38 2.80
including 65.1 67.87 - 2.77 4.16
Jim Megann, Director of Investor Relations and Marketing