La Ronge Gold Corp.

TSX VENTURE : LAR


La Ronge Gold Corp.

March 20, 2013 14:15 ET

La Ronge Gold Corp.: Strong Mineralized Intercepts Continue to Expand Preview SW Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2013) - La Ronge Gold Corp. (TSX VENTURE:LAR) (the "Company") -

HIGHLIGHTS

  • PR13-155 drilled 1.60 grams per tonne of gold (g/t Au) over 31.14 metres (m)
  • PR13-156 drilled 8.96 g/t Au over 4.56 m, and 2.41 g/t Au over 14.62 m
  • PR13-158 drilled 2.31 g/t Au over 33.50 m, and 3.22 g/t Au over 10.16 m
  • Preview A and Preview North Prospects, located 430 m and 2,620 m northeast, respectively, from Preview SW, have been also drilled. Preliminary indications are that both the Preview A and Preview North Prospects are hosted in the same corridor of sheared diorite that hosts the Preview SW Deposit
  • Winter drilling program now complete with a total of twenty (20) drill holes totalling 4,113 m
  • 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. has received assays from seven additional drill holes from its Preview Property located in north-central Saskatchewan. These holes were drilled on the northeast and western margins of the Preview SW gold deposit, testing for extensions of mineralization outside the current resources. PR13-158 was drilled in the centre of the deposit to more closely delineate the geometry of mineralization, and PR13-157 was drilled at the western limit of the deposit. The Company has also completed holes on Preview A and Preview North prospects, which are located 430 m and 2,620 m, respectively, northeast of the Preview SW gold deposit, and is awaiting results. Geologists have noted favourable rock types in the drill core at Preview A and Preview North.

A summary of the drill results is given in the table below.

Hole # Au (g/t) Width (m) From (m) To (m)
PR13-152 1.74 2.04 134.83 136.87
1.26 7.03 145.26 152.29
7.83 2.50 279.30 281.80
PR13-153 2.37 2.89 82.00 84.89
1.88 4.00 141.00 145.00
PR13-154 12.94 1.35 69.30 70.65
1.20 5.50 101.00 106.50
1.39 5.40 147.10 152.50
1.68 1.35 223.07 224.42
PR13-155 1.79 8.75 102.09 110.84
including 21.33 0.62 102.09 102.71
3.22 5.09 119.96 125.05
1.60 31.14 136.00 167.14
including 4.02 6.10 136.00 142.10
PR13-156 1.87 9.60 129.22 138.82
including 6.01 1.55 137.27 138.22
8.96 4.56 176.85 181.41
2.41 14.62 219.90 234.52
PR13-157 NSV
PR13-158 1.43 6.50 31.50 38.00
1.09 3.85 50.50 54.35
2.31 33.50 61.50 95.00
including 7.00 6.30 68.70 75.00
3.22 10.16 133.00 143.16
including 48.00 0.60 142.56 143.16
1.25 9.80 157.00 166.80

Results from previously drilled holes of the program (PR13-144 to PR13-151) have been released on February 4 and 26 and on March 4, 2013. Hole PR13-151, previously released, intersected 633.61 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.

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 2.90 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 was 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 on the Preview Adit prospect, which are located 430 m and 2620 m northeas,t 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 winter drill program at the Preview SW gold deposit continues to extend the known limits of our mineralized zones, potentially adding ounces and reducing the strip ratio. We continue to intersect broad, lower-grade zones such as in PR13-155 and -156, and higher-grade zones such as in PR13-151. We are confident that our 2013 drilling will have a positive impact on our mineral resource update. Also during this program, our most aggressive step-out holes, up to 2,600 m outside the current limits of the Preview Deposit, have intersected favourable geology and alteration, suggesting that this may be a more extensive gold mineralized system than we initially thought."

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
Au Contained
Category Tonnes g/t 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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