Linear Metals Corporation
TSX VENTURE : LRM

Linear Metals Corporation

August 15, 2007 14:18 ET

Sampling of Historic Core at Linear Metals' KM61 Project Increases Width of Molybdenum Zone to Over 300 Metres at Similar Grade

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2007) - Linear Metals Corporation (TSX VENTURE:LRM) announces new exploration and drilling results from its wholly-owned KM61 molybdenum project in Ontario. Results for 205 of the 300 samples from a program testing previously unsampled historic core have been received. The first stage of Linear's 2007 exploration program consisted of splitting and assaying unsampled drill core that was generated in 2004 and 2005 when the KM61 property was optioned by Noranda and Falconbridge. A significant portion of the drill core generated during those programs was left unsampled, as Noranda and Falconbridge were targeting copper mineralization at the time.

Highlights:

- New results for hole K-05-06: 143.2 metres of 0.068% Mo, 0.14% Cu and 6.1 g/t Ag

- Previously reported results for hole K-05-06: 61.2 metres of 0.076% Mo, 0.19% copper

- New results for hole K-05-07: 193.6 metres of 0.052% Mo, 0.11% Cu and 7.1 g/t Ag

- Previously reported results for hole K-05-07: 128.8 metres of 0.058% Mo, 0.12% copper

The KM61 project is ideally located approximately 60 kilometres east of Armstrong, Ontario, with year round road access, and only 12 kilometres from the main CN rail line. Linear has been active since early May 2007 at KM61, completing trenching, soil sampling, IP surveying, claim staking, and sampling of the old drill core. Linear initiated the sampling program of previously unsampled core from the 12 holes drilled by Noranda and Falconbridge in 2004 and 2005, when re-logging revealed that core with visible molybdenite was left unsampled.

Disseminated and vein-type molybdenite-chalcopyrite mineralization at KM61 is hosted by two 1.5 kilometre long, closely-spaced, 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 host disseminated chalcopyrite and molybdenite. Based on assay results from the Noranda and Falconbridge drill campaigns, the mineralized zones centered on these dike swarms were indicated to be up to 130 metres wide, with strong molybdenum mineralization occurring over a strike length of at least 900 metres. Additionally, the old holes intercepted two high-grade veins, returning 3.0 metres grading 1.78% molybdenum in hole K-05-8, and 2.9 metres grading 1.41% molybdenum in hole K-05-12.

With the new sampling results, K-05-06 has returned 143.2 metres of 0.068% Mo, 0.14% Cu and 6.1 g/t Ag as compared to the 61.2 metre intercept grading 0.076% molybdenum and 0.19% copper reported previously. The hole bottomed in mineralization at 327 metres. The 143.2 metre interval includes a cumulative total of 17.5 metres of barren post-mineral gabbroic dyke in two large units measuring 6.4 metres and 11.1 metres each; without these dykes, the interval grades 0.077% Mo over 125.7 metres. More importantly, the hole bottomed beneath the downward projection of near surface mineralization encountered in K-05-07 in strong molybdenum mineralization (0.079% Mo), providing evidence that the two zones merge into a single broad zone at shallow depth. Similarly, K-05-07 has returned a new composite interval of 193.6 metres of 0.052% Mo, 0.11% Cu and 7.1 g/t Ag as compared to the 128.8 metre intercept grading 0.058% molybdenum and 0.12% copper reported previously. This includes 22.7 cumulative metres of barren post-mineral dykes; without the largest dykes, which measure 8.55 metres, 8.5 metres, and 4.8 metres in width, the interval would grade 0.058% Mo over 171.8 metres.

"We are very encouraged to receive these positive results from the historic core sampling program. These results indicate that what was previously thought to be two distinct, and relatively narrow zones, may instead be one broad stockwork zone. This increased total width of mineralization has clearly increased the size potential of KM61 at grades that appear comparable to that of other large molybdenum projects currently under development", said Grant Ewing, President and COO.

Combined composite assay results for the original and newly sampled intervals are detailed in the table below. Refer to Linear Metals' website for the original results for all of the old drill holes.



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Hole # From (m) To (m) Width (m) Mo % Cu % Ag g/t
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K-05-06 (2007 Result) 183.30 326.50 143.20 0.068 0.14 6.1
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K-05-06 (2005 Result) 182.4 243.6 61.2 0.076 0.19 na
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K-05-07 (2007 Result) 39.00 232.6 193.60 0.052 0.11 7.1
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K-05-07 (2005 Result) 91.9 220.7 128.8 0.058 0.12 na
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K-05-08 (2007 Result) 34.00 75.70 41.70 0.15 0.052 3.1
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including 46.50 49.50 3.00 1.78 0.08 5.5
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and 137.30 176.60 39.30 0.041 0.11 4.8
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K-05-08 (2005 Result) 44.4 60.7 16.3 0.35 0.07 na
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and 137.3 161.2 23.9 0.043 0.12 na
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K-05-09 (2007 Result) 6.20 81.00 74.80 0.039 0.09 3.9
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K-05-09 (2005 Result) 51.0 81.7 30.7 0.028 0.13 na
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K-05-10 (2007 Result) 5.65 59.90 54.25 0.035 0.11 7.1
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K-05-10 (2005 Result) 8.3 61.6 53.3 0.033 0.11 na
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Note: zones are flanked by lower grade (less than 0.01 to 0.03% Mo)
mineralized intervals of approximately 50 to 200 metres drill width, where
tested. Intersections in the table above are based on core length. Average
sample length is 1.5 metres.


Linear commenced an initial 4,000 metre drill program in July 2007 to further delineate both the high grade veins and the extensive bulk tonnage molybdenum-copper-silver zones at KM61. The mineralized system is open for expansion along strike and at depth. Five holes have been completed to date, with all assay results pending.

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. The KM61 drill results were obtained from Noranda, who followed internal drill hole sampling protocols requiring insertion of blanks and standards. Assaying for Cu, Au, and Ag was completed by Accurassay in Thunder Bay, ON, and for Mo was completed by ALS Chemex in Vancouver, British Columbia. Assaying of samples during the 2007 program (from both the old core and new core) is being performed by ALS Chemex in Vancouver, British Columbia. Linear has a detailed QAQC program in place involving the regular submittal of blanks, duplicates and external reference standards with the core samples.

For further details on Linear Metals Corporation and its KM61 project 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.

Grant Ewing, 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 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: 1-866-376-7683
    Website: www.linearmetals.com