VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 15, 2014) - Legend Gold Corp. (the "Company" or "Legend Gold") (TSX VENTURE:LGN) is pleased to announce that the Company has received the results of the ground gravity survey recently completed by MWH Geo-Surveys Ltd over the Lakanfla and Tinntiba permits in western Mali. The objective of the ground gravity survey was to identify intersections of mineralized structures with weathered carbonate lithologies where there is potential for significant gold accumulation and enrichment. Analogs to this geological model can be found at Yatela, FE3 and FE4 gold deposits of AngloGold Ashanti Ltd and IAMGOLD Corporation. The FE3 and FE4 deposits have produced over 1 million ounces of gold and are located four kilometres from Lakanfla's northern boundary and are on strike with Legend Gold's previously identified Zones 1, 2, 3, and 4 (see attached map).
The gravity survey covered 48 sq km with a 100 m x 100 m grid with the E-W lines being offset 50 m. The sensitivity of the gravity survey is reported as ±0.1 milligal which is considered sufficient to define subtle density contrasts in the bedrock. Four areas warranted infill surveys at 100 m line spacing with readings every 25 m. Interpretation of the free-air Bouguer and residual anomaly maps clearly shows a series of N-S to NNW-SSE trending anomalies cross-cutting the regional NNE-SSW trends. The intersection of these N-S gravity lows with positive NNE lithological trends may indicate areas of deep weathering of altered calcareous sediments and associated mineralization. Several of these anomalous "lows" lie adjacent to outcropping N-S trending vein artisanal workings, suggesting that the structures have promoted deeper weathering and may be indicate areas of deeper oxidation.
Douglas Perkins, President and Chief Executive Officer of Legend Gold stated "We are very encouraged by the new insights to targeting of mineralization offered by the results of the gravity survey. As disclosed on January 6, 2013, the Company plans to drill test on a limited basis four of the anomalous areas where extant drilling already suggests deeper, infilled, erosional topography which may not have been tested to bedrock."
Dr. Demetrius Pohl, Ph.D, AIPG Certified Geologist, a qualified person under NI 43-101 standards, is responsible for ensuring that the information in this news release is an accurate summary of the original reports and data provided to or developed by Legend Gold.
About Legend Gold
Legend Gold is a mineral exploration and development company focused on exploring for gold in the Republic of Mali, West Africa and gold and base metals in the Republic of Congo. Legend Gold's portfolio includes Lakanfla, Diba, Badiazilia, Mougnina, and Tiekoumala projects where significant discoveries have been made. Please visit Legend Gold's website www.legendgold.com to view project details.
To view the Map associated with this release, please visit the following link: http://media3.marketwire.com/docs/legend_gold_maps_jan15.pdf.
This press release has been prepared by Legend Gold Corp. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Company's properties; success of exploration activities; permitting time lines and requirements; time lines for technical reports; planned exploration and development of properties and the results thereof; and planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "plans", "expects" or "does not expect", "is expected", budget", "scheduled", "suggest", "optimize", "estimates", "forecasts", "intends", "anticipates", "potential" or "does not anticipate", believes", "anomalous" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration and other objectives concerning its mineral projects can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information.
Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks; certainty of mineral licenses; community and governmental relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Company's lack of operating revenues; governmental regulations and the ability to obtain necessary licenses and permits; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Company's public disclosure record. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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