Linear Metals Corporation
TSX : LRM

Linear Metals Corporation

October 07, 2009 08:29 ET

Linear Metals Provides an Update on the Seymour Lake Lithium Project

HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 7, 2009) - Linear Metals Corporation (TSX:LRM) is pleased to announce that a recently completed staking program has significantly increased the size of the Seymour Lake property and that Linear has initiated a drill program on its 100% owned, Seymour Lake lithium/tantalum/beryllium Project, located to the east of the town of Armstrong, in north-western Ontario.

The current drill program will follow up on the significant lithium mineralization intersected in 28 out of 31 holes drilled during a 2002 drill program. The program will test the mineralization along strike from the North Aubrey and South Aubrey zones identified during the 2002 drill program, as well as some of the many targets generated by an enzyme leach soil sampling program completed in 2008 (see News release dated September 2, 2009). The drill program will also test lower mineralized horizons intersected during the 2002 drill program despite most of the holes being drilled to relatively shallow depths of less than 60 metres.

Linear has increased the size of the Seymour Lake property by 215% following completion of the recent staking program covering ground to the south and east of the original claim group boundaries. The project now covers an area of 2,576 hectares with an additional 5,180 contiguous hectares covered by Linear's 100% owned KM61 Mo-Cu-Ag project. The additional claims were staked to cover strong lithium and tantalum anomalies identified in Linear's enzyme leach soil sampling program.

Brian MacEachen, Linear Metals President & CEO, states, "We are excited to initiate this drill program at Seymour Lake. We have identified some tremendous targets through the previous drill program and the enzyme leach soil data, and with our expanded project area, we have an opportunity to outline a very significant area of mineralization, both laterally and at depth."

The Seymour Lake project benefits from excellent location and infrastructure. The project is located 46 kilometres to the east of Armstrong, Ontario, accessible by an all-weather logging road, and is only 10 kilometres by road from the main CN rail line at Ferland Station, where there are several rail sidings. Approximately six kilometres to the east of the project, Ontario Power Generation plans to complete an 85MW hydroelectric generating station by 2013-14, which will be connected to the Provincial power grid.

The scientific and technical information in this press release was prepared under the supervision of Peter M. Dimmell, P.Geo., who is a Qualified Person as defined under National Instrument 43-101.

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 Seymour Lake 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 Seymour Lake and there is no assurance that the mineralization at Seymour Lake 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 Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Linear Metals Corporation
    Brian MacEachen
    President and Chief Executive Officer
    (902) 482-1240
    www.linearmetals.com