Logan Resources Ltd. is pleased to announce that the Company has commenced the permitting process for a 5 to 7 hole, 1,800-meter reverse circulation drill program at the Antelope Project. Antelope is best described as a sedimentary rock-hosted, Carlin-style gold system. Antelope is subject to the Option Agreement between Logan and Pilot Gold, Inc.
The property is located in White Pine County, Nevada, approximately 100 kilometers south of Wendover. Four modern gold mines, including Alligator Ridge, Bald Mountain, Golden Butte, and Kinsley Mountain are located within an 80-kilometer radius of these claims. The project consists of 65 unpatented lode claims under BLM jurisdiction.
Historic rock chip and soil sampling were conducted by Amselco, Phelps Dodge, and Dumont Nickel*. Amselco and Phelps Dodge together completed 138 shallow drill holes totaling 12,024 meters during the 1980's which targeted outcropping gold mineralization. These programs identified a zone of highly anomalous gold that is approximately 2,000 x 900 meters in extent. Based on the historical data interpretations, the system is open both at depth and to the west.
Gold is concentrated in the lower portion of the Pilot Shale in highly silicified sedimentary rocks (jasperoid). Significant concentrations of gold occur in two jasperoid zones which are part of a gently west-dipping sequence of limestone, siltstone and dolomite. Tertiary igneous rocks are present as narrow, northwest trending quartz monzonite dikes. Gold grades are elevated along dike/sediment contacts as well as in proximity to steep, northwest-striking faults.
The jasperoid targets project down-dip under shallow cover to the west, where gravity data suggests that the pediment cover remains shallow for at least 1 kilometer. Geologic potential also exists at depth beneath very shallow historic drilling, where interpreted low angle normal faults allow for thinning and/or repetition of stratigraphy.
A 5 to 7 hole, 1,800-meter RC drill program has been designed to confirm results from selected historic drill holes and to test the northwest extension of near-surface mineralization.
*Although all of the data was developed prior to the requirements of National Instrument 43-101, the companies and analytical labs involved in the work are established and reputable firms, and Logan deems the historical data suitable to develop interpretive drill targets and to guide future exploration.
The technical information within this document has been reviewed and approved by Dr. Craig S. Bow, Vice President Exploration for Logan. Dr. Bow is a Qualified Person as defined in National Instrument 43-101. Dr. Bow has verified the data underlying the exploration results disclosed in this news release.