Linear Metals Corporation
TSX VENTURE : LRM

Linear Metals Corporation

January 31, 2008 10:47 ET

Linear Metals Extends Mineralization by 200 Metres and Intersects New Zinc Zone at Cobre Grande Project, Oaxaca, Mexico

TORONTO, ONTARIO--(Marketwire - Jan. 31, 2008) - Linear Metals Corporation (TSX VENTURE:LRM) is pleased to report that drilling has extended both the North and South Zones at its Cobre Grande project, resulting in a 200 metre increase in the combined strike of the two zones by extending both zones into the previously assumed "Gap" between them. The combined strike of the two zones now totals 1300 metres.

Linear is also pleased to announce drill hole CG-48 intersected 16 metres of 4.08% zinc, in a potentially new zinc zone, 300 metres north of the previously identified limit of the North Zone zone,. This intercept, in combination with new soil data, provide a highly prospective large and undrilled target area that could significantly extend the mineralized system to the north.

Highlights from the most recent drill results include:

- CG-50 (Gap): 144.16 metres of 0.72% copper, 0.52 zinc, 0.034% molybdenum, and 18.9 grams per tonne silver; and

- CG-55 (Gap): 52.00 metres of 1.04% copper, 0.016% molybdenum, and 24.9 grams per tonne silver and 140.06 metres of 0.51% copper, 0.044% molybdenum, and 10.9 grams per tonne silver.

- CG-48 (North Zone): 16 metres of 4.08% zinc, and 2.9 grams per tonne silver.

Assay results are pending for completed holes CG-56 through CG-64, which complete this phase of delineation drilling on the North and South Zones. The results from all drill holes up to CG-64 will be incorporated into a 43-101 compliant resource estimate to be completed by April 2008.

Assay results from drill holes CG-43, CG-49, CG-51, and CG-53 in the South Zone, CG-50, CG-52, and CG-55 in the previously assumed "Gap" (between the North and South Zones), and CG-48, located 300 metres north of the North Zone, have been received. All holes except for CG-54, which tested a peripheral IP anomaly east of the Gap, encountered mineralized skarn with significant intercepts as indicated herein. A drill hole location map is available on the Company's website at www.linearmetals.com.



Connecting North and South Zones Across the Gap
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Inter- Moly- Silver
From To val(1) Copper Zinc bdenum Grams/
HOLE-ID (metres) (metres) (metres) % % % tonne
---------------------------------------------------------------------
CG-50 260.00 404.16 144.16 0.72 0.52 0.034 18.9
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including 270.00 280.00 10.00 0.01 2.06 0.018 11.8
---------------------------------------------------------------------
including 296.00 382.00 86.00 1.07 0.47 0.035 27.5
---------------------------------------------------------------------

---------------------------------------------------------------------
CG-52 329.45 354.00 24.55 0.39 0.51 0.018 23.1
---------------------------------------------------------------------
including 331.75 340.26 8.51 0.74 0.92 0.014 46.8
---------------------------------------------------------------------
AND 370.00 390.00 20.00 0.45 0.05 0.015 9.5
---------------------------------------------------------------------

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CG-55 86.10 121.80 35.70 0.41 0.38 0.005 19.1
---------------------------------------------------------------------
including 88.70 96.70 8.00 0.96 1.25 0.011 38.2
---------------------------------------------------------------------
AND 132.00 184.00 52.00 1.04 0.08 0.016 24.9
---------------------------------------------------------------------
including 164.00 181.90 17.90 2.37 0.09 0.021 47.7
---------------------------------------------------------------------
AND 193.70 333.76 140.06 0.51 0.04 0.044 10.9
---------------------------------------------------------------------
including 231.00 269.00 38.00 0.91 0.05 0.055 18.2
---------------------------------------------------------------------
including 277.40 292.30 14.90 0.37 0.06 0.084 8.8
---------------------------------------------------------------------

---------------------------------------------------------------------
Note (1): the intervals in the table are based on core lengths and
not true widths of the zone, see text for comments on true
widths. All holes are drilled down steep slopes,
consequently, the vertical depth of intercepts below
surface are less than the metres indicated down hole.


Drill hole CG-50 has extended the North Zone 100 metres to the south intersecting 144.16 metres of 0.72% copper, 0.52% zinc, 0.034% molybdenum and 18.9 grams per tonne silver over an interpreted true width of 65 metres, Hole CG-55 has extended the South Zone 100 metres to the north intersecting 52.00 metres of 1.04 % copper, 0.016% molybdenum, and 24.9 grams per tonne silver and 140.06 metres of 0.51 % copper, 0.044% molybdenum, and 10.9 grams per tonne silver over a combined interpreted true width of 95 metres. The North and South zones have been offset by a transverse fault which has displaced the North Zone 150 metres to the east of the South Zone in the vicinity of CG-52. The skarn encountered in CG-52, located midway between these two holes, is well developed but less well mineralized with copper, suggesting it may have been drilled to the east of higher-grade mineralization. The result is that the skarn has now been tracked for 1400 metres north-south (from 3600N to 2200N) with only drilling on section 3100N failing to produce a significant intercept to date. Hole CG-58 may change this as it has since been drilled on 3100N to test the area west of CG-52 and if mineralized, would close this remaining 100 metre gap.



North Zone Extension
---------------------------------------------------------------------
Inter- Moly- Silver
From To val(1) Copper Zinc bdenum Grams/
HOLE-ID (metres) (metres) (metres) % % % tonne
---------------------------------------------------------------------
CG-48 74.48 95.65 21.17 0.03 1.35 nil 4.1
---------------------------------------------------------------------
AND 114.80 130.80 16.00 0.04 4.08 nil 2.9
---------------------------------------------------------------------
AND 206.55 231.00 24.45 0.31 0.44 0.024 11.6
---------------------------------------------------------------------
Note (1): the intervals in the table are based on core lengths and
not true widths of the zone, see text for comments on true
widths. All holes are drilled down steep slopes,
consequently, the vertical depth of intercepts below
surface are less than the metres indicated down hole.


Hole CG-48, located 300 metres due north of the north end of the North Zone, was drilled to test an IP anomaly projected at 250 metres down hole. Core from CG-48 shows the top of the anomaly to be caused by a barren pyritic argillite unit starting at 231 metres. However, prior to reaching the IP anomaly, the hole cut several zinc bearing skarn zones highlighted by 16 metres of 4.08% zinc that is believed to approximate true width. Assays for a deeper skarn interval, just above the argillite, returned 0.31% copper and 0.024% molybdenum along with 0.44% zinc, from 206.55 to 231.00 metres. Given the presence of this high temperature mineralization, Linear has recently deepened CG-48 from 298 to 462 metres to test the rest of the IP anomaly.

Subsequent to drilling CG-48, results of a soil survey were received and show the area north and west of CG-48 to host the largest and strongest zinc in soil anomaly on the property, The anomaly peaks at above 1% zinc, and has local significant coincident silver and copper anomalies (to 44 grams per tonne and 0.2% respectively). The anomaly is over 900 metres wide (open to the west), and over 400 metres long, running north-south, starting at 3900N (the soil maps are posted on the Linear website).



South Zone Delineation
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Inter- Moly- Silver
From To val(1) Copper Zinc bdenum Grams/
HOLE-ID (metres) (metres) (metres) % % % tonne
---------------------------------------------------------------------
CG-43 86.00 111.25 25.25 0.67 0.32 0.023 29.0
---------------------------------------------------------------------
AND 150.88 199.64 48.76 0.19 0.03 0.057 9.8
---------------------------------------------------------------------

---------------------------------------------------------------------
CG-49 340.00 386.60 46.60 0.41 0.11 0.002 9.5
---------------------------------------------------------------------

---------------------------------------------------------------------
CG-53 251.90 293.93 42.03 0.79 0.25 0.002 35.9
---------------------------------------------------------------------
including 266.00 293.93 27.93 1.07 0.35 0.003 49.8
---------------------------------------------------------------------
AND 330.00 352.55 22.55 0.56 0.19 0.005 17.9
---------------------------------------------------------------------
including 332.00 342.00 10.00 0.82 0.36 0.006 31.2
---------------------------------------------------------------------

---------------------------------------------------------------------
Note (1): the intervals in the table are based on core lengths and
not true widths of the zone, see text for comments on true
widths. All holes are drilled down steep slopes,
consequently, the vertical depth of intercepts below
surface are less than the metres indicated down hole.


Hole CG-43 is located towards the south end of the South Zone on section 2500N. The hole cut well mineralized skarn starting at 86 metres, returning 25.25 metres of 0.67% copper, 0.32% zinc, 0.023% molybdenum, and 29.0 grams per tonne silver, but the zone is truncated by a poorly mineralized porphyry dike at 111 metres. The hole exited the dike at 151.88 metres passing into the molybdenum stockwork zone hosted in both skarn and mineralized porphyry over a 48.76 metre interval of 0.19% copper, 0.057% molybdenum, and 9.8 grams per tonne silver. Given the dykes encountered in this hole, the true widths of mineralization have not been determined. Holes CG-49 and CG-53 are vertical holes testing the eastern down dip extent of the South Zone and intersected the copper zone 120 and 134 metres down dip from CG-44 and CG-47 respectively. These holes returned weaker mineralization over true widths of 30 to 40 metres. Hole CG-51, also a vertical hole, tested the southern limit of the South Zone and encountered unmineralized interbedded skarn below 335.15 metres. Together these holes indicate that the South Zone's eastern extension may be limited and that the deposit is either plunging more rapidly or down faulted south of Line 2200N.

Vice President of Exploration, Robert Page, comments, "Cobre Grande is a great project based on the mineralization delineated to date in the North and South Zones and we look forward to completing a resource estimate and scoping study based on these results. Additionally, with the excellent targets yet to be tested, such as the Northwest Skarn, we are optimistic that new discoveries will be made in the coming months."

The Quality Control program at Cobre Grande is supervised by Linear Metals' Senior Resource Geologist, Geoff Chinn, P.Geo., who is a Qualified Person as defined under National Instrument 43-101. Drill core is sawn in half on site and samples collected over 1 to 3 metre intervals based on geology. Prior to shipping sealed sample bags are stored in a locked facility on site at the project. Samples are shipped via air to the ALS Chemex sample preparation facility in Guadalajara, Mexico. The Guadalajara prep facility then sends pulps to the ALS Chemex Vancouver, B.C. laboratory - ISO 9001-2000 registered. All samples are assayed for silver, copper, zinc, lead, and molybdenum using 4 acid digestion and ICP-AES analysis. In addition, samples from oxide zones are further analyzed for copper and zinc solubility. For copper, there is sequential analysis first with sulfuric acid leach and sequentially for cyanide leach. For zinc there is a single solubility analysis using acetic acid. The project uses a protocol that includes blanks, standards, and duplicates which make up 12% of each sample shipment.

This press release was prepared under the supervision of Linear Metals' Vice President of Exploration, Dr. Robert Page, P.Geo., who is a Qualified Person as defined under National Instrument 43-101. Dr. Page has reviewed the scientific and technical information in this press release.

Stock Options

Linear Metals also announces that, subject to regulatory approval, it has granted incentive stock options to directors and officers to purchase up to 555,000 shares of the Company at $1.00 per share for a period of up to five years. The Company has also recently cancelled 325,000 incentive stock options exercisable at $0.60 per share and as of this date has a total of 3,272,500 options outstanding with an average exercise price of $1.07 per share.

For further details on Linear Metals Corporation and its Cobre Grande Project, please visit the Company's website at www.linearmetals.com or contact investor relations at (416) 216-4708 or within North America toll free at (1-866-376-7683).

Robert Page, Vice-President Exploration

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 Cobre Grande 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 Cobre Grande and there is no assurance that the mineralization at Cobre Grande 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 Venture Exchange 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
    Within North America Toll Free at 1-866-376-7683
    Website: www.linearmetals.com