Linear Metals Corporation
TSX VENTURE : LRM

Linear Metals Corporation

October 01, 2007 09:22 ET

Drilling Intersects Significant Mo-Cu-Ag Mineralization Over Long Intervals at Linear Metals' KM61 Project

TORONTO, ONTARIO--(Marketwire - Oct. 1, 2007) - Linear Metals Corporation (TSX VENTURE:LRM) is pleased to announce assay results from the first five diamond drill holes returned from a 4,000 metre drilling program that commenced in July at its 100%-owned KM61 project. All five diamond drill holes returned significant Mo-Cu-Ag (molybdenum-copper-silver) mineralization. A total of fourteen holes have now been completed and assay results are expected over the coming weeks.

Highlights:

- Hole K-07-14: 117.7 metres of 0.054% Mo, 0.16% Cu and 3.0 g/t Ag

- Hole K-07-16: 86.3 metres of 0.075% Mo, 0.13% Cu, and 3.3 g/t Ag

- Hole K-07-17: 56.9 metres of 0.148% Mo, 0.08% Cu and 1.8 g/t Ag

- Hole K-07-18: 92.7 metres of 0.058% Mo, 0.08% Cu and 2.6 g/t Ag

- KM61 mineralized system measures up to 500 metres wide and over 1,100 metres long, and is open for expansion along strike and at depth

The KM61 project is well located approximately 60 kilometres east of Armstrong, Ontario on an all-weather logging road, and only 12 kilometres from the main CN rail line. Linear has been active since early May 2007 at KM61, completing trenching, soil sampling, IP surveying, claim staking, and sampling of the old drill core. The current 4,000 metre drill program is designed to further delineate both the high grade veins and the extensive bulk tonnage molybdenum-copper-silver zones at KM61. The large mineralized system is open for expansion along strike and at depth.

Composite assay results for the first five holes returned from the 2007 drilling program are detailed in the table below. Please refer to Linear Metals' website for drill results from the 2004 and 2005 programs, and a map of the location of newly released 2007 drill holes.



---------------------------------------------------------------------------
Interval Molyb-
From To Metres denum Copper Silver
Hole # (metres) (metres) (1),(2) %(3) % g/t Comments
---------------------------------------------------------------------------
K-07-14 50 59.7 9.7 0.050 0.08 1.3 Bottomed in
----------------------------------------------------------- mineralization
77.6 82.1 4.5 0.030 0.24 5.1
-----------------------------------------------------------
87.95 119.45 31.5 0.070 0.08 1.7
-----------------------------------------------------------
133.3 251 117.7 0.054 0.16 3.0
---------------------------------------------------------------------------
---------------------------------------------------------------------------
K-07-15 4 11.3 7.3 0.031 0.05 1.0 Bottomed in
----------------------------------------------------------- mineralization
49.1 59.6 10.5 0.054 0.03 0.8
-----------------------------------------------------------
69.15 95 25.85 0.036 0.07 1.3
-----------------------------------------------------------
152.35 199.7 47.35 0.036 0.09 2.9
---------------------------------------------------------------------------
---------------------------------------------------------------------------
K-07-16 17.95 24.5 6.55 0.048 0.06 2.2 Bottomed in
----------------------------------------------------------- mineralization
28.2 98.2 70 0.047 0.09 3.5
-----------------------------------------------------------
109.5 122.8 13.3 0.032 0.10 3.7
-----------------------------------------------------------
128.7 215 86.3 0.075 0.13 3.3
-----------------------------------------------------------
219.1 320 100.9 0.046 0.09 2.2
---------------------------------------------------------------------------
---------------------------------------------------------------------------
K-07-17 4.13 16.25 12.12 0.028 0.05 1.1 Bottomed in
----------------------------------------------------------- post-mineral
25.95 64.55 38.6 0.062 0.07 1.8 dyke
-----------------------------------------------------------
72.4 129.3 56.9 0.148 0.08 1.8
-----------------------------------------------------------
136.28 150.2 13.92 0.075 0.13 4.3
---------------------------------------------------------------------------
---------------------------------------------------------------------------
K-07-18 2.3 95 92.7 0.058 0.08 2.6 Bottomed in
----------------------------------------------------------- Cu-rich
133.8 147.6 13.8 0.022 0.06 2.4 mineralization
-----------------------------------------------------------
147.6 236 88.4 0.038 0.06 2.2
-----------------------------------------------------------
236 251 15 0.027 0.10 2.7
---------------------------------------------------------------------------

Note 1: Intersections in the table above are based on core length.
Average sample length is 1.5 metres.

Note 2: Gaps in the sampling intervals represent bodies of post-mineral
dyking greater than 4 metres in width. Post-mineral dykes measuring less
than 4 metres width are included in the composite calculation.

Note 3: Samples containing high grade molybdenum (i.e. greater than 1% Mo)
have not been cut to a standard value in the composite intervals
referenced in this press release, unless otherwise noted.


Holes K-07-14 and K-07-15 were drilled from the same site, at dips of -50 degrees and -75 degrees respectively, and collared 65 metres NE of previously reported K-05-07. K-05-07 returned 193.6 metres of 0.052% Mo, 0.11% Cu and 7.1 g/t Ag. Hole K-07-14 returned significant intersections of 31.5 metres @ 0.070% Mo beginning at 87.95 metres followed by 117.7 metres @ 0.054% Mo beginning at 133.3 metres.

Holes K-07-16 and K-07-17 were also drilled from the same site, at dips of -50 degrees and -75 degrees respectively, and collared 65 metres SW of previously reported K-05-07. Both holes intersected well mineralized sections including several 1.5 metre samples of 1.02%, 1.355% and 0.53% Mo in K-07-17. These high grade veins provide pockets of excellent grade molybdenum which will enhance the overall grade of the mineralized system. Hole K-07-16 intersected one of the widest Mo-bearing zones to date including an 86.3 metre interval, between 128.7 metres and 215 metres, grading 0.075% Mo and a 100.9 metre interval between 219.1 metres and the end of the hole, at 320 metres, grading 0.046% Mo. Hole K-07-17 also intersected excellent grade mineralization at depth, such as 13.9 metres @ 0.075% Mo, and returned upper intersections of 38.6 metres @ 0.062% Mo and 56.9 metres @ 0.148% Mo (cut to 0.5% molybdenum, the interval grades 0.113%).

Hole K-07-18 was drilled at a dip of -50 degrees, 180 metres SW of previously reported K-05-07 and intersected a well mineralized section at the top of the hole, returning 0.058% Mo over 92.7 metres, then cutting a roughly similar thickness of lower grade (0.03% Mo) material towards the footwall contact, including 88.4 metres @ 0.038% Mo.

As most of the above reported drill holes bottomed in mineralization, holes K-07-14, -16, and -18 will be deepened in the next drill program to intersect the footwall tonalite, which marked the end of the mineralized zone in K-05-04 and -07. Results of the recent IP survey, completed after these holes were drilled, indicate an unexpected widening of the South zone in the area of these drill holes.

The drill is currently completing a series of holes on the North Porphyry trend, testing along strike of K-05-06 which intersected 143.2 metres of 0.068% Mo, 0.14% Cu and 6.1 g/t Ag.

A recently completed 20-line kilometre IP survey offers further evidence of the large scale of the KM61 mineralized system, with IP chargeability highs on drilled sections coinciding with superior Cu-Mo mineralization. The chargeability anomaly extends over 2.3 kilometres, and is open to the southwest. Trenching of the SW and NE extensions of the chargeability anomaly beyond the drilled area is underway, in anticipation of drill testing later in the year.

Disseminated and vein-type molybdenite-chalcopyrite mineralization at KM61 is hosted by two northeast-trending, quartz monzonite porphyry dyke swarms and their flanking mafic metavolcanics. These porphyries and their wall rocks are extensively stock-worked with quartz and quartz-sulphide veins, and host disseminated chalcopyrite and molybdenite over a drill-indicated total width of up to 500 metres, and over a drill-indicated strike length measuring greater than 1,100 metres. At an arbitrary cut-off of 0.04% molybdenum, the mineralized zone is up to 350 metres wide, flanked by zones of lower grade mineralization (0.01 to 0.04% molybdenum).

The deposit remains open along strike and at depth, as many of the holes drilled to date bottom in mineralization, and show increasing molybdenum grade with depth. As an initial test of the depth potential, a 750 metre long angle hole to cross cut the entire system at vertical depths below 200 metres is planned during the current program. This will also determine if the North and South zones merge at depth in the central part of the system, which is indicated by the drilling completed to date.

"Results from drilling, the IP survey, and mapping are all extremely positive, with mineralization now indicated over a minimum distance of 1,100 metres along strike, and the potential to extend the mineralized zone to over 2,000 metres in length. The current 4,000 metre program is demonstrating the presence of substantial volumes of significant molybdenum mineralization, and the large size potential of the system", said Grant Ewing, President and COO.

Linear is also evaluating the significance of Rhenium and Tungsten, as significant values of both metals have been detected (up to 0.7 ppm and 0.12% respectively) in the limited amount of samples that have been analyzed.

Based on the excellent results returned to date, Linear is planning a phase two 5,000 metre drill program, which could commence in late October. Linear anticipates having sufficient data at the end of the phase two drill program to complete the first resource estimate for the KM61 project.

Linear is also pleased to announce that it has retained O&M Partners, LLC ("O&M") to provide investor targeting services towards U.S. institutions potentially having an interest in small-cap resource companies. As part of their compensation arrangement, O&M were granted 200,000 incentive stock options exercisable at a price of $1.50 for a period of three years with the options vesting at the rate of 25% every six months from the date of grant of the options.

The technical information in this press release was prepared under the supervision of Matt Rees, P.Geo., Chief Geologist, a qualified person as defined by National Instrument 43-101. The historical KM61 drill results were obtained from Xstrata, who followed internal drill hole sampling protocols requiring insertion of blanks and standards. Assaying for Cu, Au, and Ag was completed by Accurassay in Thunder Bay, ON, and for Mo by ALS Chemex in Vancouver, British Columbia. Assaying of samples during the 2007 program is being performed by ALS Chemex in Vancouver, British Columbia. Linear has a detailed QAQC program in place involving the regular submittal of blanks, duplicates and external reference standards with the core samples.

For further details on Linear Metals Corporation and its KM61 project please visit the Company's website at www.linearmetals.com or contact investor relations at (416) 216-4708, or within North America at 1-866-376-7683.

Grant Ewing, President

Forward-Looking Information:

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 KM61 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 KM61 and there is no assurance that the mineralization at KM61 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Linear Metals Corporation
    Investor Relations
    (416) 216-4708 or within North America: 1-866-376-7683
    Website: www.linearmetals.com