Linear Metals Corporation
TSX : LRM

Linear Metals Corporation

May 15, 2008 10:38 ET

Linear Metals Intersects High-Grade Molybdenum in the Main Zone at KM61 Project, Ontario, Canada

TORONTO, ONTARIO--(Marketwire - May 15, 2008) - Linear Metals Corporation (TSX:LRM) is excited to announce results of rush assays on a 15 metre interval of hole K-08-66 from its KM61 Project located east of Armstrong, Ontario. This new high grade interval has returned:

- 15.35 metres of 1.67% molybdenum, 0.213% copper and 11.8 grams per tonne of silver.

This intersection represents the longest interval of high-grade mineralization encountered to date on Linear's 100%-owned KM61project. The Company is carrying out a 25,000 metre drill program on the project that will lead to the completion of a 43-101 compliant resource estimate during 2008. Drilling to date has outlined an area of mineralization that at a 0.04% molybdenum cutoff covers 1.25 kilometres along strike, up to 350 metres in width and is open along strike to the northeast. The discovery is also open at depth with many of the holes bottoming in mineralization.

Hole K-08-66 was drilled at -45 degree dip to the southwest, to better understand the nature of the fault-offset between the Main and Southwest Zones, and from 94.90 to 110.25 metres, intersected several quartz-molybdenite veins, with massive molybdenite, up to one centimetre thick, at a shallow angle to the core axis. Five assays of greater than 1.0% molybdenum over 1.5 metres were returned to a maximum of 6.83% molybdenum, with an additional three assays between 0.5 to 1.0% molybdenum. This 15.35 metre interval also carries enriched copper and silver values, as detailed in the table below.



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Drill From To Interval Molybdenum Silver (grams Copper
Hole (metres) (metres) (metres) (%) per tonne) (%)
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K-08-66 94.90 110.25 15.35 1.67 11.8 0.21
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including 94.90 96.50 1.60 6.83 14.3 0.32
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96.50 98.00 1.50 0.63 7.7 0.24
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98.00 99.50 1.50 2.07 31.0 0.23
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99.50 101.00 1.50 1.74 24.9 0.56
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101.00 102.50 1.50 0.58 4.3 0.11
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102.50 104.00 1.50 0.06 1.3 0.06
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104.00 105.50 1.50 0.07 2.0 0.08
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105.50 107.00 1.50 0.79 4.9 0.14
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107.00 108.50 1.50 2.16 11.8 0.19
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108.50 110.25 1.75 1.48 15.0 0.20
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The hole also intersected narrow molybdenite-rich quartz veins both above and below this interval for which assays are pending. More drilling will be necessary to determine the thickness and strike length of this high grade zone, however, it may correlate with a high grade zone of molybdenum intersected in a 2.9 metre interval starting at 241.5 metres in hole K-05-12 assaying 1.41% molybdenum, 0.29% copper, and 12.5 grams per tonne of silver. This interval in K-05-12 is located approximately 75 metres grid east of, and 140 metres vertically below, the high grade interval in hole K-08-66, suggesting potential for significant down-plunge extension of a high grade shoot. Hole K-07-30 appears to have undercut the plunge of the shoot to the west, although several 3.0 to 4.5 metre wide zones of 0.1 to 0.2% molybdenum in the hole, at this depth, may correlate to the bottom edge of the high grade interval in K-08-66. Additional close-spaced drilling is underway to further test the high grade zone.

The further significance of K-08-66 is that the mineralized intersection is located within the chargeability break between the Main and Southwest Zones, indicating that the interpreted structural discontinuity between the zones is in reality very narrow, and that mineralization is continuous, at various grades, right up to the fault(s).

"The potential to delineate and develop some very high grades zones bodes well for the economics of the project, and at a minimum complements the three presently known, near surface 0.1% molybdenum zones that represent excellent starter pit material in a development scenario. In the best case scenario, the high grade zone in hole K-08-66 is part of a substantial lens that could be considered for selective underground mining," 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 of samples during the 2007-2008 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 the latter part of 2008. For further details on Linear Metals Corporation and its projects please visit the Company's website at www.linearmetals.com.

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 Toll Free: 1-866-376-7683
    Website: www.linearmetals.com