La Ronge Gold Corp.

TSX VENTURE : LAR


La Ronge Gold Corp.

March 04, 2013 09:30 ET

La Ronge Gold Corp.: 633.61 g/t Au Intersected Over 4.08 m Including 1,123.25 g/t Au Over 2.30 m in Extension Drilling at Preview SW Gold Deposit, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2013) - La Ronge Gold Corp. (TSX VENTURE:LAR) -

HIGHLIGHTS

  • Hole PR13-151 drilled 633.61 grams per tonne of gold (g/t Au) over 4.08 m, including individual assays of 5.14 g/t Au over 0.77 m, 13.03 over 0.90 m and 4,279 g/t Au over 0.60 m
  • Hole PR13-151 represents the best gold grade drilled to date in the La Ronge gold camp
  • PR13-150 is drilled outside the deposit targeting one vein-structure extension; a coincident magnetic break at this location indicates a cross-cutting structure
  • Preview A and Preview North Prospects, two new prospects, are being drilled on strike from Preview SW Gold Deposit.
  • Twenty (20) Drill holes completed to date testing mineralization outside of the Preview SW deposit.
  • All the drill holes released to date confirm Preview SW Gold Deposit is open for expansion in all directions
  • Engineering and Environmental studies are underway on the Preview SW Gold Deposit

La Ronge Gold Corp. (the "Company") has received additional drill assays from its Preview Property located in north-central Saskatchewan. The holes released to date were drilled on the northeast and southwest margins of the Preview SW gold deposit, testing for extensions of gold mineralization outside the current resources as well as testing near surface gold mineralization within the deposit. Hole PR13-151 was designed to test one vein-structure outside the resource area. An obvious magnetic break may represent a cross-cutting structure at this location.

Drill Hole PR13-151, drilled 75 m outside the defined resource to the northeast, intersected:

  • 633.61 g/t Au over 4.08 m starting at 203.78 m including:
    • 1,123.25 g/t Au over 2.30 m including
      • 5.14 g/t Au over 0.77 m, 13.03 over 0.90 m, and 4,279 g/t Au over 0.60 m

Assays from the initial holes of the program (PR13-144 to PR13-150) were previously released on February 4 and 26, 2013. Mineralized intervals are based on samples that vary in width from 0.6 m to 0.92 m utilizing 0.20 g/t gold cut-off levels with a maximum internal dilution of 0.86 metres. The attitude of mineralized intervals varies, and reported mineralized intersections may not represent true widths. Please follow this link to view the current area of drilling: http://www.larongegold.com/wp-content/uploads/2013/02/PSW-Drillhole-location-map-Feb-20131.jpg

2013 Drilling:

The primary objective of the 2013 program is to test mineralization outside the Preview SW Gold Deposit resource both along strike to the northeast and southwest as well as down-dip. Holes have been completed on the Preview A prospect as well as the Preview Adit prospect, which are located 430 m and 2620 m northeast, respectively, in the same northeasterly trending structural corridor that hosts the Preview SW deposit. Results from these holes will be released when assay results are received.

Company President and CEO Rasool Mohammad comments: "The spectacular results we received from hole PR13-151 are the highest grades reported in the La Ronge Gold belt to date. It is important to note that this intercept is outside the limits of our resource estimation blocks and should help in enlarging the deposit."

About the Preview SW Gold Deposit:

As reported in a News Release dated December 3, 2012, the open pitable 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
INDICATED 1,958,400 2.12 138,100
INFERRED 3,714,600 2.09 257,300

The deposit remains open in all directions.

There are six known gold prospects on the Property: from north to south they are North/Adit, C, B, Preview SW, Clearwater A, and Clearwater B. In all zones, 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 base line 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, Canada, including Old Cabin Project in Wawa Ontario. 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.

FORWARD-LOOKING INFORMATION

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.

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