Linear Metals Corporation
TSX : LRM

Linear Metals Corporation

May 08, 2008 12:30 ET

Linear Metals Connects Mineralization Across the Main Zone and Makes a New Discovery at the Southwest Zone at KM61 Molybdenum-Copper-Silver Project

TORONTO, ONTARIO--(Marketwire - May 8, 2008) - Linear Metals Corporation (TSX:LRM) is pleased to announce drill results expanding the scale of its KM61 discovery through expansion of the Main Zone and a new discovery in the Southwest Zone. Linear is in the midst of a 25,000 metre drill program with results provided here from the first sixteen diamond drill holes (K-07-30 to K-07-33 and K-07-35 to K-08-46), representing 5,140 metres, of this Phase II drill program, initiated in December 2007, at its 100%-owned KM61 project.

Highlights from the most recent results in the Main Zone include:

- Hole K-08-36: 64.5 metres of 0.088% molybdenum and 162.6 metres of 0.057% (0.061% uncut) molybdenum;

- Hole K-08-40: 105.9 metres of 0.085% molybdenum and 27.9 metres of 0.088% molybdenum;

- Hole K-08-42: 35.5 metres of 0.085% molybdenum, and 28.0 metres of 0.073% molybdenum, and 104.0 metres of 0.063% molybdenum;

- Hole K-08-46: 73.4 metres of 0.071% molybdenum;

and from the New discovery in the Southwest Zone:

- Hole K-08-41: 54.0 metres of 0.063% molybdenum, 0.12% copper and 4.4 grams per tonne silver.

The results from this drilling have successfully demonstrated the continuity of mineralization between the North and South Porphyry trends, with higher grades (greater than 0.05% Mo) over a strike length of approximately 600 metres. This effectively joins the North and South Porphyry trends into a large right-lateral sigmoid, or flattened "S-shape", reflecting the structural dilatent zone that hosts the porphyry dykes and related stockwork mineralization.

Within the Main Zone at KM61, molybdenite-chalcopyrite mineralization 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-molybdenite veins and also host significant disseminated chalcopyrite and molybdenite. At a cut-off of 0.04% molybdenum, the mineralized zone extends over 1,250 metres and is up to 350 metres wide, flanked by zones of lower grade mineralization (0.01 to 0.04% molybdenum) particularly along the north margin of the zone, extending the full width to 500 metres. The deposit remains open along strike to the north-east and at depth, with many holes bottoming in mineralization.

The extent of mineralization in the new discovery within the Southwest Zone has not yet been determined but is in addition to the 1,250 metre Main Zone.

Main Zone Results

Composite assay results for intervals of greater than 0.04% molybdenum are detailed in the tables below. Please refer to Linear Metals' website for prior drill results and drill hole location maps from the 2004, 2005, and 2007-2008 programs.



---------------------------------------------------------------------------
Interval Molyb-
From To (metres denum Copper Silver
Hole # (metres) (metres) (1),(2)) % % g/t Comments
---------------------------------------------------------------------------
K-07-34 42.00 54.70 12.70 0.042 0.08 2.7
---------------------------------------------------------------------------
71.80 186.50 114.70 0.061 0.10 3.4 two samples
cut to 0.5%
molybdenum,
uncut runs
0.088% Mo
---------------------------------------------------------------------------
216.70 233.50 16.80 0.040 0.08 2.6
---------------------------------------------------------------------------
247.50 331.50 84.00 0.049 0.07 3.3 bottoms in FWT
(3)
---------------------------------------------------------------------------
CT 228.20 0.054 0.09 3.3
---------------------------------------------------------------------------

---------------------------------------------------------------------------
K-08-36 142.00 206.50 64.50 0.088 0.11 3.7
---------------------------------------------------------------------------
216.90 223.30 6.40 0.078 0.18 6.7
---------------------------------------------------------------------------
234.40 397.00 162.60 0.057 0.12 3.3 two samples
cut to 0.5%
molybdenum,
uncut runs
0.061% Mo
---------------------------------------------------------------------------
415.90 426.00 10.10 0.039 0.11 1.6 bottoms in
0.06% Mo at
443m
---------------------------------------------------------------------------
CT 243.60 0.065 0.12 3.4
---------------------------------------------------------------------------

---------------------------------------------------------------------------
K-08-38 160.35 173.80 13.45 0.047 0.04 1.2
---------------------------------------------------------------------------
181.50 201.10 19.60 0.045 0.09 2.1
---------------------------------------------------------------------------
214.70 230.10 15.40 0.067 0.12 3.4
---------------------------------------------------------------------------
269.50 384.50 115.00 0.051 0.15 3.6 bottoms in FWT
(3)
---------------------------------------------------------------------------
CT 163.45 0.051 0.13 3.2
---------------------------------------------------------------------------

---------------------------------------------------------------------------
K-08-40 6.60 112.50 105.90 0.085 0.08 2.5
---------------------------------------------------------------------------
121.60 149.50 27.90 0.088 0.07 2.0
---------------------------------------------------------------------------
193.50 227.50 34.00 0.053 0.06 1.6 includes
dilution from
7.2 m of dykes
---------------------------------------------------------------------------
233.90 282.00 48.10 0.057 0.11 2.5 bottoms in FWT
(3)
---------------------------------------------------------------------------
CT 215.90 0.074 0.08 2.3
---------------------------------------------------------------------------
K-08-42 7.00 42.50 35.50 0.085 0.11 4.0
---------------------------------------------------------------------------
48.50 76.50 28.00 0.073 0.03 0.9
---------------------------------------------------------------------------
91.50 195.50 104.00 0.063 0.05 1.5
---------------------------------------------------------------------------
201.75 218.45 16.70 0.039 0.09 2.0 bottoms in FWT
(3)
---------------------------------------------------------------------------
CT 184.20 0.067 0.06 1.9
---------------------------------------------------------------------------
K-08-44 11.90 52.50 40.60 0.058 0.08 3.0
---------------------------------------------------------------------------
58.40 76.70 18.30 0.074 0.12 3.1
---------------------------------------------------------------------------
82.50 129.20 46.70 0.042 0.05 1.3
---------------------------------------------------------------------------
137.00 152.00 15.00 0.059 0.07 1.4
---------------------------------------------------------------------------
CT 120.60 0.054 0.07 2.2 bottoms in FWT
(3)
---------------------------------------------------------------------------
K-08-46 140.00 154.50 14.50 0.076 0.11 4.0
---------------------------------------------------------------------------
161.10 234.50 73.40 0.071 0.06 1.8
---------------------------------------------------------------------------
CT 87.90 0.072 0.07 2.2
---------------------------------------------------------------------------
272.00 302.00 30.00 0.040 0.07 1.2 mineralization
extends
another 58 m
in lower grade
mineralization
then bottoms
in FWT(3)
---------------------------------------------------------------------------
Note 1: Intersections in the table above are based on core length but with
all holes drilled across the dip of the mineralized zone
intersection widths are thought to be close to true widths. Average
sample length is 1.5 metres.
Note 2: Where 2 or more composites are shown for a hole, most gaps in the
composite values are occupied by lower grade mineralization of 0.01
to 0.04%, or by post-mineral dykes. Post-mineral dykes of less than
5.0 metres width are included in the composite calculations. Post-
mineral dykes of greater than 5.0 metres width are excluded in the
composite calculations.
Note 3: "FWT" equals footwall tonalite
Note 4: "CT" equals cumulative total, the weighted average of all
composites with the width of post-mineralization, waste-rock dykes
greater than five metres in width removed).


Nine even numbered holes, starting with hole K-07-30 and extending 800 metres to the east, to hole K-08-46, crossed the previously untested area between the North and South Porphyry dyke trends with holes spaced approximately 100 metres apart and drilled at -45 degrees to the southeast. These holes successfully demonstrated the continuity of the mineralization between the two dyke trends, with higher grades (greater than 0.05% Mo) encountered over approximately 600 metres of strike, effectively joining the North and South Porphyry trends.

Seven of the nine holes drilled along this fence intersected wide intervals of +0.04% molybdenum including:

- K-07-34 (previously reported) was the first hole to return strong mineralization in this inter-dyke area, and returned 228.2 metres of 0.054% molybdenum, 0.09% copper, and 3.3 grams per tonne of silver;

- K-08-36 bottomed in 0.06% molybdenum mineralization at a depth of 443 metres and also returned excellent results towards the South Porphyry trend, returning a CT of 243.6 metres of 0.065% molybdenum, 0.12% copper and 3.4 grams per tonne of silver, including 64.5 metres of 0.088% molybdenum;

- K-08-38 also encountered consistent mineralization with a CT of 163.45 metres of 0.051% molybdenum, 0.13% copper and 3.2 grams per tonne of silver;

- K-08-40 returned a CT of 215.9 metres of 0.074% molybdenum, 0.08% copper, and 2.3 grams per tonne of silver, including several wide intervals of greater than 0.08% molybdenum;

- K-08-42 returned a slightly narrower intersection with a CT of 0.067% molybdenum, 0.06% copper and 1.9 grams per tonne of silver over 184.2 metres;

- K-08-44 returned a CT of 120.6 metres of 0.054% molybdenum, 0.07% copper and 2.2 grams per tonne of silver; and

- K-08-46 returned excellent mineralization through the central part of the hole with a CT of 87.9 metres of 0.072% molybdenum, 0.07% copper and 2.2 grams per tonne of silver.

Holes K-07-30 and K-07-32 are located at the south-west end of the Main Zone and intersected low to moderate grade, 0.01% to 0.04% molybdenum, over their entire lengths. Additionally, the first 140 metres of K-08-36, and the first 110 metres of K-08-38 returned 0.03% molybdenum.

New Southwest Zone Discovery Results



---------------------------------------------------------------------------
Interval Molyb-
From To (metres denum Copper Silver
Hole # (metres) (metres) (1),(2)) % % g/t Comments
---------------------------------------------------------------------------
K-07-35 87.5 94.00 6.50 0.104 0.03 0.9 within
Approximately
100 m wide
envelope of
0.03%
molybdenum
-----------------------------------------------------------
176.5 195.00 18.50 0.048 0.08 2.9
---------------------------------------------------------------------------

---------------------------------------------------------------------------
K-08-37 4.5 31.90 27.40 0.046 0.05 1.9
---------------------------------------------------------------------------
41.80 108.30 66.50 0.054 0.10 3.5
---------------------------------------------------------------------------
110.75 119.00 8.25 0.054 0.05 1.3
---------------------------------------------------------------------------
125.00 136.00 11.00 0.048 0.05 1.2
---------------------------------------------------------------------------
155.8.0 159.50 3.70 0.075 0.03 0.7
---------------------------------------------------------------------------
CT 116.85 0.052 0.08 2.7
---------------------------------------------------------------------------

---------------------------------------------------------------------------
K-08-41 58.00 98.50 40.50 0.063 0.10 2.2
---------------------------------------------------------------------------
104.50 118.00 13.50 0.062 0.19 10.8
---------------------------------------------------------------------------
CT 54.00 0.063 0.12 4.4
---------------------------------------------------------------------------
Note 1: Intersections in the table above are based on core length but are
believed to approximate true widths. Average sample length is 1.5
metres.
Note 2: Where two or more composites are shown for a hole, most gaps in the
composite values are occupied by lower grade mineralization of 0.01
to 0.04%, or by post-mineral dykes. Post-mineral dykes of less than
5.0 metres width are included in the composite calculations. Post-
mineral dykes of greater than 5.0 metres width are excluded in the
composite calculations.
Note 3: Cumulative total ("CT") is the weighted average of all composites
with the width of post-mineralization, waste-rock dykes greater
than five metres in width removed.


Results from seven holes drilled in the Southwest Zone (odd numbered series of holes) have confirmed a new discovery at KM 61. The holes confirm visual observations that the southern flank of the Southwest Zone contains the best mineralization, over a minimum strike length of approximately 200 metres.

K-07-35 was collared near the east side of the Southwest Zone, close to its centre, and is the first hole from the zone to return strong mineralization, across narrow widths, including 6.5 metres of 0.104% molybdenum, and 18.5 metres of 0.048% molybdenum, within an overall 100 metre wide envelope of 0.030% molybdenum. K-08-37, located south of K-07-35 on the same section, intersected a well mineralized zone with a CT of 116.85 metres of 0.052% molybdenum, 0.08% copper and 2.7 grams per tonne of silver. On the next grid line to the southwest, K-08-39 intersected weak mineralization over its upper 100 metres, then passed out of the system into unreceptive dacite tuff and sediments, whereas K-08-41, which undercuts K-08-39, intersected excellent mineralization with a CT of 54 metres of 0.063% molybdenum, 0.12% copper and 4.4 grams per tonne of silver. At depth, K-08-43 may have undercut the plunge of the zone, as it intersected about 35 metres of 0.03% molybdenum on the same section. Receipt of additional assay results will be necessary in the Southwest Zone to understand what is apparently a more complex distribution of mineralization than in the Main Zone.

K-07-31, K-07-33, and K-08-45 are all located in the northern part of the Southwest Zone, and returned lower grade intervals of anomalous molybdenum up to 0.04% molybdenum.

The SW Zone appears to be a fault-offset portion of the Main Zone (in places the break is occupied by a reversely-polarized post-mineral Logan dyke), although the sense of displacement seems to be strictly vertical, and mineralization styles indicate that the SW Zone is currently exposed at a slightly higher level in the system than the Main Zone, with higher grade intervals at depth on some sections.

The KM61 project benefits from excellent location and infrastructure. The project is located, east of Armstrong, Ontario, assessable by a 61 kilometre all-weather logging road, and only 12 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, which will be connected to the Provincial power grid. This is expected to greatly decrease the cost of power to any potential development at KM61.

"The rapidly advancing 25,000 metre drill program has not only expanded the Main Zone it has resulted in a new discovery. This discovery, the Southwest Zone, is important not only for the contribution it will make to the size of the overall mineralized zone but also as an indication of the potential for additional new discoveries at KM61. These initial Phase II drill results from both zones are very encouraging and indicate KM61 contains considerable widths of excellent grade molybdenum mineralization with appreciable copper and silver credits. Our aggressive drill program puts Linear on schedule to complete a 43-101 resource estimate before year end," reports Robert Page, Vice President Exploration.

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. Assaying for copper, gold, and silver was completed by Accurassay in Thunder Bay, ON, and for Molybdenum 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 QA/QC program in place involving the regular submittal of blanks, duplicates and external reference standards with the core samples.

In April 2008, Linear Metals completed a 43-101 compliant resource estimate on its Cobre Grande project and will also complete a 43-101 compliant resource estimate on its KM61 project during 2008. For further details on Linear Metals Corporation and its projects 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.

Brian MacEachen, 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 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 North America Toll Free: 1-866-376-7683
    Website: www.linearmetals.com