May 18 2017
Logan Resources Ltd. is pleased to announce that the Company has commenced detailed planning for a second phase of drilling on the Brik property, located in the Cedar Range of Lincoln County, Nevada.
The plan for Phase Two drilling is estimated to total approximately 1,995 meters in 10 core holes, to be carried out in Q3/Q4 2017. Logan considers hole BR16-02 from the Phase one program (33.52m grading 1.15 g/t Au) as "proof of concept" that CSAMT resistivity anomalies previously identified constitute priority targets for discovery drilling.
Phase One drilling comprised of eight reverse-circulation ("RC") holes, for a total of 1,380 meters at the Hidden Treasure target area (see news release dated March 1, 2017 for complete results). Logan has incorporated the drill results into the existing model and has utilized the merged data to prepare for the next stage of exploration on the property. Brik is one of several, low sulfidation epithermal gold and silver systems in southeastern Nevada that occur in an area of nested volcanic calderas. Brik is part of the previously-announced Option Agreement (see news release dated July 7, 2016) with Liberty Gold (USA) Corp. ("Liberty Gold") (formerly Pilot Gold (USA) Inc).
Based on the results of this initial Phase One drill program, a Phase Two program is being planned with the intent to drill 10 core holes totaling approximately 1,995 meters in three target areas: Hidden Treasure, Sinter, and Maui Wash. Six holes have been designed within and adjacent to the main mineralized zone at Hidden Treasure, and two holes have been designed each at Sinter and Maui Wash in order to better understand the geologic and structural setting for gold mineralization.
At Hidden Treasure, the target centers on a prominent silicified knob that includes phases of milky quartz, chalcedonic quartz, and quartz breccia, covering an area roughly 200 x 200 meters. Tested targets include the gold-bearing silica cap, deeper mineralization thought to be controlled by steep structures, and geophysical targets likely to represent additional zones of silicification favorable for gold mineralization.
The Sinter target area is on the north side of Miller Springs Wash, approximately two kilometers west-northwest from Hidden Treasure. Anomalous gold in surface samples occurs in a zone that trends roughly east-west and is approximately 150 meters long with exposed widths of the order of 40 meters. This zone contains discontinuous dikes, veins, and a mixture of carbonate and silica deposits typical of very high levels in epithermal systems. Anomalous gold in rock-chip samples with concentrations greater than 100 ppb occurs in a variety of rock types including oxidized dikes, silicified andesite breccias, and quartz veinlets. Milky quartz veins and associated breccias have yielded the strongest gold values, with a maximum of 2.94 ppm.
Liberty Gold drilled four RC holes into the Sinter prospect with a best result of 4.6 meters with an average grade of 1.51 g/t Au starting at a depth of six meters (hole PB16). Liberty Gold completed a CSAMT survey post-drilling, which defined a series of strong resistive anomalies at Sinter. One of the anomalies sits directly beneath hole PB16 and will be the initial target for Logan drilling in this target area.
The Maui Wash target area is located in the southeastern portion of the Brik claim block, approximately 1.5 kilometers south of Hidden Treasure. It is a subordinate target defined by relatively low grade gold anomalism in rock chips and soil samples.
Liberty Gold drilled two RC holes into the Maui Wash target area, intersecting several intervals of anomalous gold; PB26 penetrated a 1.2-meter intercept with an average grade of 0.41 g/t Au at a depth of 91 meters. As at Sinter, the subsequent CSAMT survey defined multiple strong CSAMT resistors within the target footprint which are deemed to warrant discovery drilling.
With respect to the Liberty Gold drill results disclosed in this press release, all drill samples were collected with an RC drill rig using 5-foot (1.5 meter) sample intervals and following standard industry practice. QC/QA included the insertion and continual monitoring of numerous standards and blanks on a regular basis. Independent laboratory, ALS Global of Reno, Nevada, performed all sample preparation and geochemical analyses.
The full drill results from the 2011 Liberty Gold drill program can be found on the Logan website: http://loganresources.ca/images/pdf/brik/Brik_Pilot_2011_Drill_Results.pdf.
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.
Source: http://loganresources.ca/