VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 8, 2013) - La Ronge Gold Corp. (TSX VENTURE:LAR) -
Preview North Prospect
- Drill hole PR13-163, located 2,620 metres (m) northeast of the Preview SW gold deposit, intersected the following three new near surface gold zones :
- 17.98 grams per tonne gold (g/t Au) over 5.71 m starting at 10 m below surface
- 5.96 g/t Au over 5.66 m starting at 19 m below surface
- 1.88 g/t Au over 21.26 m starting at 29 m below surface
- Preview North Prospect appears to be hosted in the same corridor of shearing that hosts the Preview SW gold deposit 2,620 m to the southwest. A major structural break, interpreted from the airborne geophysics survey completed last summer, coincides with the mineralization intersected in PR13-163
- Free gold or visible gold coincides with the reported gold intercepts in PR13-163
- Gold mineralization at the Preview North Prospect appears to plunge to the SW
- PR13-163 is 190 m SW of historic trenches at Preview North Prospect, where a brick of gold was poured from 24.34 g/t Au (0.71 opt) ore in 1941.
Preview A Prospect:
- PR13-159 returned 3.71 g/t Au over 5.85 m starting at 44.5 m below surface from the Preview A Prospect, which is located 430 m northeast of the Preview SW deposit.
- All the drill holes released to date confirm that Preview SW Gold deposit as well as Preview A and North Prospects are open for expansion
- Engineering and Environmental studies are continuing on the Preview SW gold deposit
La Ronge Gold Corp. has received assays from the final five drill holes from its winter drilling program at the Preview Property located in north-central Saskatchewan. These holes were drilled to the northeast of the Preview SW gold deposit, testing for extensions of mineralization outside the current resources. Preview A and Preview North Prospects are located 430 and 2,620 m northeast, respectively, of Preview SW. Both the Preview A and Preview North Prospects appear to be hosted in the same corridor of sheared diorite that hosts the Preview SW Deposit.
A summary of the drill results is given in the table below.
|Prospect||Hole #||Au (g/t)||Width (m)||From (m)||To (m)|
Results from previously drilled holes of the program (PR13-144 to PR13-158) have been released on February 4 and 26, and March 4 and 20, 2013.
The Preview North prospect (also known as the Adit Prospect) is the site where gold was originally discovered at Preview Lake in 1939. High grade gold mineralization was trenched in 1939 and 1940; subsequently, Preview Mines Ltd. built a 6 to 9 ton-capacity mill and recovered high-grade ore from trenches near the shoreline. A single gold brick was poured in 1941, and the mill shut down shortly thereafter. La Ronge's three holes is the first subsurface exploration of Preview North since 1961. Drill hole PR13-161 tested for mineralization immediately beneath a 24 m-long adit, and PR13-162 was drilled about 100 m northeast of the adit. PR13-163 was drilled about 190 m SW of the adit to test for a southwesterly plunge to the high-grade mineralization, and the significant high-grade intercepts in this hole suggest that this may be the case. Please follow this link to view the location of the current area of drilling: http://www.larongegold.com/wp-content/uploads/2013/04/nr-figure.pdf
Mineralized intervals are based on samples that vary in width from 0.6 to 1.5 m utilizing 0.20 g/t gold cut-off levels with a maximum internal dilution of 3.35 metres. The attitude of mineralized intervals varies, and reported mineralized intersections may not represent true widths.
"The mineralization defined in hole PR13-163 at the Preview North Prospect is similar in character to the Preview SW gold deposit, in that multiple en-echelon near-surface high grade gold veins occur in conjunction with broader lower-grade intercepts. The results from the Preview North Prospect suggest that this near-surface zone of high-grade gold mineralization remains open in all directions. This could potentially have a very positive impact on project economics," Company President and CEO Rasool Mohammad commented. "We have drill tested 2,620 m strike length of this favourable corridor to the northeast confirming gold mineralization, and an additional 2,500 m to the southwest has yet to be tested. This area to the southwest of the Preview SW deposit displays similar geophysical, geochemical, and geological signatures as the Preview North and Preview SW."
About the Preview SW Gold Deposit
As reported in a News Release dated December 3, 2012, the Preview SW gold deposit hosts gold resources as summarized in the table below, using the base case estimate at a gold cut-off grade of 0.5 grams/tonne gold (g/t Au):
|Preview SW Gold Resources|
|Category||Tonnes||Au g/t||Contained oz Au|
The deposit remains open in all directions.
There are six known gold prospects on the Property: from north to south they are Preview North, C, B, Preview SW, Clearwater A, and Clearwater B. In all prospects, structurally controlled mesothermal lode gold is found in quartz veins within or on the margins of sheared dioritic-gabbroic sills and is associated with sulphides. The area of diorite-gabbro sills extends for 5200 m in a northeast-southwest direction across the property and reaches approximately 200 m in width.
The main Preview SW deposit is comprised of several sub-parallel northeast-trending gold-bearing structural (shear) zones. The shears trend northeast (020° to 045°) and dip 70° to 90° to the northwest. The en-echelon 1 to 10 m-wide structures are persistent at depth, and the zones bifurcate and merge at depth and along their length. The shears comprise major and minor shears that splay out and merge to form "horses" of undeformed rock within the shear zone.
Engineering and Environmental Studies
In addition to the current exploration and expansion drilling at Preview SW deposit, the Company has initiated metallurgical studies on the Preview SW gold deposit. Preliminary engineering studies and baseline environmental surveys will continue in 2013, and an updated resource estimate incorporating the results from this winter's drilling campaign will then become a part of a Preliminary Economic Analysis (PEA) on the Preview SW Deposit.
Samples of sawn drill core were analyzed by TSL Laboratories in Saskatoon with fire assay techniques. La Ronge Gold has implemented an industry standard QA/QC program consisting of randomly inserting standards, blanks, and duplicates into the sample stream to ensure assay accuracy and repeatability.
Gordon Davidson, P. Geol., the Company's Vice President of Exploration and a Qualified Person for the purposes of National Instrument 43-101, has reviewed the technical information in this News Release.
About La Ronge Gold Corp.
La Ronge Gold is a Vancouver-based rapidly advancing gold-resource growth and development company, focused on the expansion of high-grade gold deposits in one of Canada's emerging gold producing regions, the La Ronge Gold Belt, northern Saskatchewan. The Company has significant land positions (52,932 Ha. or 131,000 acres) in the region. The Company also holds other gold projects located in Ontario, including Old Cabin Project near Wawa. This property is adjacent to the Island Gold Mine where Richmont Mines recently added a new high grade Inferred Mineral Resources of 508,000 ounces Au at a grade of 10.73 g/t Au.
This News Release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects and other plans, intentions, expectations, estimates, and beliefs of the Company. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein, or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise.