Feb 28 2017
Logan Resources Ltd. ("Logan" or the "Company") is pleased to announce that ALX Uranium Corp ("ALX") has commenced their diamond drilling program at the Gorilla Lake property ("Gorilla Lake", or the "Property") in the western Athabasca Basin, Saskatchewan. Gorilla Lake is located within the Carswell Impact Structure approximately 15 km north of the past-producing Cluff Lake uranium mine, which operated from 1980 to 2002.
ALX has an 80% ownership interest with Logan having a 20% interest carried through feasibility. ALX is the operator of the Gorilla Lake property and as such, will fund 100% of the project-related costs. Logan Resources acquired the Gorilla Lake property in 2004 and in 2005 optioned the property to ESO Uranium Corp., a predecessor company to ALX.
The 2017 drilling program is planned to include four holes totaling approximately 1,000 metres. Work will be focused on the northern portion of the Property and will follow up on basement-hosted uranium mineralization that was previously intersected in historical holes CLU-01 (0.46% U3O8 over 1.5 m) and CLU-07 (0.17% U3O8 over 7.0 m), drilled in 2006. The uranium mineralization is associated with numerous conductors, as defined by airborne and ground electromagnetic ("EM") surveys and is coincident with a distinct northeast-trending gravity low highlighted from a ground gravity survey conducted in the winter of 2016.
In addition, drilling will test an airborne electromagnetic anomaly approximately 1,500 metres south of Gorilla Lake coincident within a distinct northeast-southwest striking gravity low.
To view a map of the geophysical anomalies and planned 2017 drill target areas, please visit the Logan website at: http://www.loganresources.ca/index.php/projects/gorilla-lake
About Gorilla Lake
The Gorilla Lake property consists of two contiguous mineral claims totaling 7,552 ha (18,661 acres) within the Carswell Impact Structure in the western portion of the Athabasca Basin, northern Saskatchewan. The Property is held 80% by ALX with Logan having a 20% carried interest. ALX is the operator of the Property and funds 100% of the costs associated with the Project.
Gorilla Lake is one of ALX's Cluff Lake group of three contiguous properties adjoining the former Cluff Lake mine site, where over 62 million pounds of U3O8 were extracted during a 22-year operating life through a combination of three open pit mines and four underground mines by predecessor companies of AREVA Resources Canada Inc.
NI 43-101 Disclosure
Technical information in this news release has been reviewed and approved by Sierd Eriks, P. Geo., President and CEO of ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.
Source: http://www.loganresources.ca/