La Ronge Gold Corp.
TSX VENTURE : LAR

La Ronge Gold Corp.

August 15, 2012 13:18 ET

La Ronge Gold Corp. Extends Preview SW Gold Deposit and Intersects 7.49 g/t Gold Over 12.8 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2012) - La Ronge Gold Corp. (TSX VENTURE:LAR) -

Highlights

Drill hole PR12-135 intersected:

  • 1.57 g/t gold (g/t Au) over 20.92 metres (m) starting at 111.20 m;
  • 8.80 g/t Au over 2.20 m starting at 148.44 m

Drill hole PR12-136 intersected:

  • 3.88 g/t gold (g/t Au) over 6.51 metres (m) starting at 330.74 m

Drill hole PR12-137 intersected:

  • 11.28 g/t gold over 3.35 m starting at 160.65 m, and
  • 7.49 g/t gold over 12.80 m starting at 196.80 m
  • Total strike length of the deposit increased to 450 m from the historic 250 m
  • Drill hole PR12-136 intersected the deepest gold mineralization-270 m below surface. The previous known depth of gold mineralization was 180 m below surface.

La Ronge Gold Corp. (the "Company") is pleased to announce that initial assays have been received from the 2012 summer drilling on its Preview SW deposit in northern Saskatchewan. Drill hole PR12-137 intersected two gold zones: 11.28 g/t gold over 3.35 m starting at 160.65 m, and 7.49 g/t gold over 12.80 m starting at 196.80 m. PR12-37 was a 60 m step-out drill hole from PR12-123 which intersected two zones of mineralization grading 6.41 g/t gold (Au) over 33.0 m and 8.26 g/t Au over 19.95 m.

Most of the results indicate that the high-grade gold mineralization intersected in this past winter's drilling extends at least 60 m further along strike to the southwest. Equally significant, the Company has hit the deepest mineralized gold zone 270 m below surface in drill hole PR12-137. The deposit was drilled to 180 m depth previously; 90 m extension at depth. The summer drilling program has recently concluded, and a total of 2,637 m of drilling has been completed in 9 holes.

In a News Release dated April 2, 2012, the Company announced step-out drill hole results in the southwest portion of the Preview SW deposit where drill hole PR12-123 intersected two zones of mineralization grading 6.41 g/t gold (Au) over 33.0 m and 8.26 g/t Au over 19.95 m. At that time, these holes defined the south western limits of the deposit, and the recently completed drill program was designed to extend the deposit even further to the southwest.

Assays from the first three holes from this program (PR12-135, -136, and -137) have been recently received. All three holes were drilled on three separate sections on the southern limits of the deposit. PR12-136 was designed to test the down-dip extension of the mineralization intersected in PR12-123, and holes PR12-135 and PR12-137 tested the south western strike extension of this mineralization.

It is apparent that the current historical resources area will be extended by a further 60 m to the southwest; additional extension must await assay results from the other holes drilled in this program.

Drillhole PR12-136 intersected 3.88 g/t Au over 6.51 m including 7.06 g/t Au over 1.65 m, starting at 330.74 m; 270 m below surface. The previous known depth of mineralization was 180 m below surface, so there is substantial potential to expand resources down-dip.

A complete summary of selected mineralized intercepts from holes PR12-135 to 137 is given below:

Hole # Au
(g/t)
Width
(m)
From
(m)
To
(m)
PR12-135 1.57 20.95 90.25 111.20
Including 3.31 6.55 100.00 106.55
or 10.16 1.50 100.00 101.50
PR12-135 4.30 5.56 148.44 154.00
Including 8.80 2.26 148.44 150.70
PR12-136 2.31 3.69 112.22 115.91
2.38 6.61 215.49 222.10
Including 7.25 1.51 215.49 217.00
PR12-136 3.88 6.51 330.73 337.24
Including 7.41 1.81 330.73 332.54
PR12-137 2.83 4.94 73.76 78.70
11.28 3.35 160.65 164.00
Including 22.99 1.60 160.65 162.25
or 60.60 0.50 161.75 162.25
PR12-137 7.49 12.80 196.80 209.60
including 37.79 0.82 201.59 202.41
and 22.81 1.02 205.55 206.57

Mineralized intervals are based on samples that vary in width from 0.6 m to 1.5 m utilizing 0.20 g/t gold cut-off levels with a maximum internal dilution of 2.0 metres. The attitude of mineralized intervals varies, and reported mineralized intersections may not represent true widths. A map showing the collars of the drill holes reported above is found on La Ronge Gold's website at: http://www.larongegold.ca/projects-saskatchewan-preview-sw.php.

The Preview SW deposit was discovered by Cameco Corp in the late 1980's. Structurally controlled mesothermal lode gold is hosted in silicified zones spatially related to quartz veins in a sheared dioritic-gabbroic intrusion and is associated with sulphides. The zone of diorite-gabbro sills extends for 5,200 m in a northeast-southwest direction across the property and reaches approximately 200 m in width. Several sub parallel northeast-trending shear zones, totalling 150 m in width, make up the Preview SW deposit, and these zones contain swarms of narrow quartz veins that bifurcate and merge. The en echelon 1 to 10 m-wide shear structures are persistent at depth and often merge in that direction too. The results of Cameco's and the most recent drilling indicated that gold mineralization is open in both directions along strike and down dip. Recent drilling by La Ronge Gold has also indicated that high-grade gold concentrations are also locally present in felsic volcanic rocks that surround the diorite intrusion.

Logging and splitting of the drill core from the summer program is almost complete, and the remaining assays will be released once they are received and compiled. In addition to extending the known limits of the deposit, the drill program was designed to update the historical resources to NI 43-101 standards. These historical resources are discussed in the Company's News Releases dated October 17 and November 2, 2011. The Preview SW deposit is also open to the northeast, but lake coverage prevented drill follow-up in the summer season.

"Our team is extremely encouraged by these results. The 270 m below surface hit is a pleasant surprise. Since the start of the drilling this year we have increased the strike length by 80% from 250 m to 450 m, and open along strike and at depth. We have enough funding to carry us through for the next two to three years of exploration," Commented the Company's President, Rasool Mohammad.

Analyzed samples consisting 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.

La Ronge Gold Corp. is a gold exploration company focusing on the exploration of gold projects in Canada. The Company has acquired projects in Saskatchewan with historical resources and is in the process of bringing those historical resources to NI 43-101 standards. The Company also holds other gold projects located in Ontario, Canada.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.

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