Linear Gold Corp.
Linear Gold Makes New Gold Discovery From Drilling, Ixhuatan Project, 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 Makes New Gold Discovery From Drilling, Ixhuatan Project,
Mexico
Halifax, Nova Scotia, Canada. May 26, 2006. Linear Gold Corp. (Frankfurt
WKN: 789634, TSX: LRR) is pleased to announce that it has identified a new
zone of gold mineralization from drilling located 450 metres to the
southwest of the Campamento Gold Deposit. This new discovery, named Laguna
Grande, is located within the trend of a gold-in-soil anomaly that extends
to the southwest of the Campamento deposit.
Initial drill results from the first two holes, IX-103 and IX-104 are as
follows:
– 2.5 grams per tonne gold over 8.0 metres in Hole IX-103
– A series of gold bearing intervals over 124.0 metres in Hole IX-104
including:
– 2.2 grams per tonne gold over 16.0 metres from 64 metres depth
– 3.5 grams per tonne gold over 18.0 metres from 114 metres depth
– 25.3 grams per tonne gold over 2.0 metres from 120 metres depth
The results of Holes IX-103 and IX-104 are summarized below:
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Drill Hole From To Interval(i) Grams per Grams per
(Metres) tonne Gold tonne Silver
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IX-103 170 246 76.0 0.7 10.6
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Including 170 172 2.0 1.1 6.6
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Including 184 186 2.0 2.7 12.4
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Including 192 200 8.0 1.1 5.0
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Including 220 228 8.0 2.5 26.4
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Including 240 246 6.0 1.1 71.3
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IX-104 64 80 16.0 2.2 9.0
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and 114 132 18.0 3.5 3.0
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Including 120 122 2.0 25.3 14.4
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and 152 156 4.0 2.9 9.0
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and 164 166 2.0 2.6 4.4
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and 186 188 2.2 2.2 6.5
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(i) Note: The true widths of the intersections have not yet been
determined; widths in table are based on core lengths Laguna Grande
Discovery
The Laguna Grande gold-in-soil anomaly is located 450 metres from the
southwestern margin of the Campamento gold deposit and lies within a
broader gold soil anomaly that extends 1.4 kilometres to the southwest of
the Campamento deposit. Recently completed additional soil sampling in the
Laguna Grande area has now defined a gold soil anomaly containing 112
separate samples greater than 100 ppb gold over an area of 650 metres long
by 450 metres, including 6 samples that contain greater than 1000 ppb gold.
(see attached map: http://www.ccnmatthews.com/docs/lrr0526.jpg)
Hole IX-103 was drilled on the north eastern most line of the soil anomaly
in the Laguna Grande cluster at an azimuth 330 and an inclination of -60
degrees. The hole encountered a broad zone of anomalous gold values from
170 to 246 metres containing 76 metres of 0.7 grams per tonne gold. Within
this zone are located three separate higher grade intervals: 192 to 200
metres containing 8 metres of 1.1 grams per tonne gold, 220 to 228 metres
containing 8 metres of 2.5 grams per tonne gold and 240 to 246 metres
containing 1.1 grams per tonne gold. Each of these intervals is associated
with fractured zones of increased permeability and oxidation cutting both
volcanic and sedimentary rocks. The higher grade interval from 220 to 228
metres is associated with a fault/fracture zone at the contact of a
sandstone unit which overlies a brecciated limestone unit.
Hole IX-104 was collared 145 metres to the southeast of hole IX-103 on the
same soil line with an azimuth of 150 degrees and an inclination of -55
degrees (in the opposite direction of hole IX-103). The hole encountered a
series of mineralized zones that occur over a 124 metre interval from 64 to
188 metres. These gold mineralized intervals include: 64 to 80 metres
containing 16 metres of 2.2 grams per tonne gold; and 114 to 132 metres
containing 18 metres of 3.5 grams per tonne gold. A high-grade interval of
25.3 grams per tonne gold occurs from 120 to 122 metres. The gold bearing
intervals are associated with multiple fault-controlled fracture zones
cutting clay altered volcanic flow and volcaniclastic rocks with minor
amounts of calcite veining. Assays from below 190 metres to the final depth
of 244 metres are pending.
The Laguna Grande area gold mineralization appears to be related to a
series of steeply dipping fault zones cutting the volcanic-sedimentary
package. Preliminary geologic investigations have identified crudely
sub-parallel zones of clay altered volcaniclastic rocks that strike from
northeast to southwest. Mineralized fractures identified within these zones
of alteration also strike to the northeast and dip steeply to the
northwest.
A total of three drill rigs are working at the Ixhuatan project, including
one in the Laguna Grande area, one in the Caracol Discovery zone, and one
hole to the northwest of the Campamento deposit. A second drill rig will be
mobilized to the Laguna Grande area as soon as possible.
Phil Pyle, Linear’s vice president of exploration states: ‘we are excited
by the early results at Laguna Grande with gold over broad intervals cut by
the initial two holes in the area. The recent soil sampling suggests that
the first two holes are near the north eastern margin of a broad system
capable of hosting a significant deposit. The presence of high grade
intervals and similarities with the Campamento alteration and
mineralization are also very encouraging.’
This press release has been prepared under the supervision of Mr. David
Rowe, Certified Professional Geologist, 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 analysed by 50g charge digestion Fire Assay – AA finish with samples
greater that 10 grams per tonne analysed by Fire Assay – gravimetric
finish. Other metals were analysed 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.
For further information, please contact:
Linear Gold Corp.
Terry Christopher
Manager of Investor Relations
Tel. +1 (902) 422-1421
www.lineargoldcorp.com
Nick Fuller or Samantha Fletcher
Fuller Fletcher & Associates Ltd.
European Investor Relations
277 Salisbury House
London Wall
London EC2M 5QQ, United Kingdom
Tel. +44 (207) 256 5204
Fax +44 (207) 256 5678
sam@fullerfletcher.com
www.fullerfletcher.com
AXINO AG
Silberburgstrasse 112
D-70176 Stuttgart
Phone +49 (711) 25 35 92-30
Fax +49 (711) 25 35 92-33
info@axino.de
www.axino.de
(c)DGAP 30.05.2006
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Language: English
Issuer: 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
indices:
Listed: Open Market in Frankfurt; Foreign Exchange(s) Toronto
End of News DGAP News-Service
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