Initial Results Received from Expansion Drilling of Preview SW Deposit, Saskatchewan; Met work and PEA Started
- Eight Drill holes completed to date within the pit shell;
- First two drill holes expand mineralized zones to the northeast for 206 metres (m) outside the current block model;
- Metallurgical Test work to commence shortly;
- Mineral Resource Estimate update and Preliminary Economic Assessment (PEA) to commence in Q2 of 2013.
February 04, 2013, Vancouver, British Columbia – La Ronge Gold Corp. (TSX-V: LAR) (the “Company”) is pleased to announce that assays have been received from the first two widely spaced step-out drill holes about 200 m outside the current block model at the Preview SW deposit located in north-central Saskatchewan:
Drill hole PR13-144 intersected:
- 2.75 gram/tonne gold (g/t Au) over 14.81 m starting at 131.51 m
Including 6.45 g/t Au over 4.81 m
- 2.05 g/t Au over 8.40 m starting at 177.75 m
Drill hole PR13-145 intersected:
- 3.25 g/t Au over 5.45 m starting at 63.50 m
- 3.94 g/t Au over 2.46 m starting at 95.80 m
The primary objective of this drilling campaign is to expand the recently announced gold resources at the Preview SW deposit towards the northeast and southwest of the 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):
The deposit remains open in all directions. The current drill program is designed to test near surface gold mineralization outside the current resource model. Please follow this link to view the current area of drilling: http://www.larongegold.com/wp-content/uploads/2013/02/PitShell-Zones-Feb-4-2013.jpg To view the 2013 Preview SW drillhole plan map please follow this link:http://www.larongegold.com/wp-content/uploads/2013/02/PSW-Drillhole-Plan-Map-Feb-4-2013.pdf The Company has completed eight core drillholes to-date and drilling will continue to the northeast and southwest of the deposit.
A complete summary of selected mineralized intercepts from holes PR13-144 to -145 is given below:
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 2.0 metres. The attitude of mineralized intervals varies, and reported mineralized intersections may not represent true widths. Maps of the current drilling are posted on La Ronge Gold’s website at: http://www.larongegold.com/projects/saskatchewan/preview-sw/drilling-resources/
In addition to the current exploration/expansion drilling at Preview SW deposit, the Company will be submitting mineralized drill core for metallurgical studies. 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. This PEA will commence in the second quarter of 2013 and should be completed before year-end.
Company President and CEO Rasool Mohammad comments: “Most of the drill holes we will be completing in this program are designed to explore for and define additional resources. Our short-term goal is to de-risk the project through metallurgical studies followed by a PEA.”
There are seven 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 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.
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 inserted 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.
For more information about La Ronge Gold Corp., please go to www.larongegold.com or contact:
Rasool Mohammad, B.Sc. (Mining), President & CEO
LA RONGE GOLD CORP.
Phone: (604) 639-4533
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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.