Linear Gold Corp.
Linear Gold Identifies Increased Thickness of Gold-Silver-Copper Mineralization at the Caracol Discovery, Ixhuatan Project, Chiapas Mexico
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Linear Gold Identifies Increased Thickness of Gold-Silver-Copper
Mineralization at the Caracol Discovery, Ixhuatan Project, Chiapas Mexico
Halifax, Nova Scotia, Canada. March 1, 2006. Linear Gold Corp. (Frankfurt
WKN: 789634, TSX: LRR) is pleased to report additional drill results from
the Caracol Discovery on the company’s 100% owned Ixhuatan Project, located
in the state of Chiapas, Mexico.
Results from follow-up drilling at the Caracol Discovery have extended the
gold, copper, and silver mineralization further down dip and along strike
and show that the thickness is increasing in the apparent dip direction.
Highlights from drill hole IXNA-04 include:
– 77.1 metres containing 1.0 grams per tonne gold, 13.4 grams per tonne
silver and 1.0% copper including:
– 14.6 metres containing 2.6 grams per tonne gold, 30.8 grams per tonne
silver and 2.3% copper.
Caracol Discovery
Additional drilling at the Caracol Discovery, situated 2.1 kilometres
north-northeast of the Campamento Deposit, has further expanded the
recently discovered gold-silver-copper skarn-hosted mineralization. Results
from Holes IXNA-03 and IXNA-04 are summarized as follows:
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Grams Grams
per per
Drill Interval tonne tonne Copper
Hole From To (Metres) Gold Silver percentage Comments
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IXNA-03 22 44 22 0.0 5.1 0.5 Oxidized
Supergene
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And 62 103 41 0.2 9.7 0.4 Skarn
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Including 85.2 103 17.8 0.2 14.0 0.6 Skarn
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IXNA-04 11.6 59.9 48.3 0.4 8.6 0.6 Oxidized
Supergene
and skarn
———————————————————————
And 100.5 177.6 77.1 1.0 13.4 1.0 Skarn
———————————————————————
Including 153 177.6 24.6 2.0 22.0 1.7 Skarn
———————————————————————
Including 163 177.6 14.6 2.6 30.8 2.3 Skarn
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Hole IXNA-03 was collared from the same location as Hole IXNA-02b
(previously reported February 2, 2006). Hole IXNA-03 was drilled at 235
degrees azimuth and an inclination of -65 degrees to test the strike and
dip extent of mineralization identified in Hole IXNA-02b. Hole IXNA-03
intersected the upper supergene copper oxide zone from 22 to 44 metres
containing 0.5% copper over 22 metres and a lower disseminated skarn zone
from 62 to 103 metres containing 0.6% copper over 41 metres. Within the
lower zone there is a higher grade section from 85.2 to 103 metres
containing 0.6% copper and 14.0 grams per tonne silver over 17.8 metres.
The skarn mineralization in Hole IXNA-03 is approximately 27 metres from
the correlative skarn zone in hole IXNA-02b (as measured to the upper and
lower contacts respectively) along the apparent dip trend and along strike.
Results also indicate an increase in thickness of both the upper and lower
mineralized zones in the down-dip dimension.
Hole IXNA-04 was drilled from the same location as Hole IXNA-01 (previously
reported January 5, 2006)(see cross section at www.lineargoldcorp.com). It
was drilled at an azimuth of 235 degrees and an inclination of -65 degrees
to test the down-dip extension of skarn-hosted mineralization encountered
in Hole IXNA-01. Hole IXNA-04 identified a thicker zone of skarn related
mineralization which assayed 1.0 grams per tonne gold, 13.4 grams per tonne
silver, and 1.0% copper over 77.1 metres from 100.5 to 177.6 metres depth.
This increased thickness of mineralization is related to an increasing
thickness of skarn development related to the contact zone of an intrusive
complex into limestone.
At the base of the thicker skarn zone, Hole IXNA-04 intersected a high
grade gold-copper interval from 163-177.6 metres depth that averaged 2.6
grams per tonne gold, 30.8 grams per tonne silver and 2.3% copper over 14.6
metres. The correlation of this high grade zone to the corresponding zone
in hole IXNA-01 indicates the zone has an apparent dip of -70 degrees and
extends this mineralization approximately 37 metres distance down-dip (as
measured from the upper and lower limits respectively). The gold and copper
mineralized zones are hosted within garnet-mica skarns containing
fine-grained disseminated chalcopyrite, bornite and pyrite.
Situated above the main skarn zone from 11.6 to 59.9 meters, IXNA-04
intersected 0.4 grams per tonne gold, 8.6 grams per tonne silver, and 0.6%
copper over 48.3 metres. This upper copper-gold interval is hosted by
porphyritic diorite intrusives and garnet skarns. The copper mineralization
within the intrusive rocks is supergene in character and occurs as
malachite and chalcocite within fracture-controlled veinlets and also as
fine disseminations in the matrix of related breccias.
A fifth hole, IXNA-05, has been completed with assays pending and two
additional holes are in progress. There are a total of four drill rigs
operating on the Ixhuatan Project, two in the Caracol Discovery and two in
the Campamento Deposit.
Detailed soil sampling and a ground magnetics survey have been completed
over the Caracol grid which extends over an area 1000 by 600 metres. A
geologic mapping program is also underway. The soil sampling results
indicate numerous significant anomalies: 48 of 264 samples contain from 0.1
to 3.6 grams per tonne gold and 38 of 264 samples contain from 300 to 5700
ppm copper. The soil anomaly pattern is open in three directions and
suggests that the potential exists to expand the mineralization further.
Phil Pyle, Linear’s Vice President of Exploration states, ‘We are pleased
to see that the thickness of economic mineralization is increasing in the
downdip direction with the results from Hole IXNA-04. The continuity of
mineralization in our first four holes in the Caracol Discovery suggests
the potential for significant tonnages of mineralization both in the zone
of copper oxides and in the deeper high grade skarn systems.’
This press release has been prepared under the supervision of Mr. Bill Bond
P.Geo., who serves as the qualified person for this project under National
Instrument 43-101. A map of the project showing the location of all drill
holes is available at the company’s website www.lineargoldcorp.com.
All samples were submitted to ALS-Chemex Labs in Guadalajara, Mexico with
gold analyzed by 50g charge digestion Fire Assay – AA finish. Other metals
were analyzed by aqua regia digestion with ICP finish.
Linear Gold Corp. is actively exploring for gold and base metals in Mexico,
and through joint ventures in Canada and the Dominican Republic.
Wade K. Dawe, President
The TSX Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Contact:
Terry Christopher
Linear Gold Corp.
Manager of Investor Relations
(902) 422-1421 or Toll Free: 1-866-546-3272
(902) 491-4281 (FAX)
www.lineargoldcorp.com
Nick Fuller
Fuller, Fletcher & Associates Ltd.
European Investor Relations Contact
+44 207 256 5204
Samantha Fletcher
Fuller, Fletcher & Associates Ltd.
European Investor Relations Contact
+44 207 256 5204
+44 207 256 5678 (FAX)
sam@fullerfletcher.com
Contact:
AXINO AG
Silberburgstrasse 112
70176 Stuttgart
WWW: www.axino.de
E-mail: info@axino.de
Tel: +49 (0) 711 25 35 92-30
Fax: +49 (0) 711 25 35 92-33
(c)DGAP 02.03.2006
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language: English
emitter: Linear Gold Corp.
2000 Barrington Street Suite 701
B3J 3K1 Halifax, Nova Scotia Kanada
phone: +1 (902) 422-1421
fax: +1 (902) 491- 4281
email: info@lineargoldcorp.com
WWW: www.lineargoldcorp.com
ISIN: CA53566Q1072
WKN: 789634
indexes:
stockmarkets: Open Market in Frankfurt; Foreign Exchange(s) Toronto
End of News DGAP News-Service
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