Linux Gold Corp. (OTCBB:LNXGF) has confirmed significant gold values in soils and rock chip samples collected on their Trout Claims, located about 70 miles northwest of Fairbanks, Alaska in the Rampart Mining District.
The claim block consists of thirty-four (34) 160 acre State of Alaska claims totaling 5,440 acres.
The Trout Claims are underlain by two, geochemically-reduced, magnetically subdued, igneous intrusions. These igneous rocks have yielded radiometric ages of 89-90 million years (Ma), the same age as Fort Knox, Livengood, and other gold-bearing intrusions exposed throughout the Tintina Gold Province. International Tower Hill Mines Ltd. (ITH) has calculated a recent Ni 43-101 compliant resource estimate of 12.5 million ounces gold at a 0.5 g/t gold cutoff at their Livengood deposit, which is approximately 30 miles east of the Trout Claims. Past productive placer gold deposits also occur immediately downstream from the Trout Claims, suggesting a lode source within the claim group.
During 1993-1994, previous explorers identified a 3,000 feet long by 1,000 feet wide, northeast-trending, gold-in-soil anomaly which overlies one of the igneous intrusions. Thirty-nine (39) soil samples contained 65 to 680 ppb gold (.065 to .68 g/t gold), and thirteen rock chip samples contained 130 to 9,640 ppb gold (.130 to 9.64 g/t gold). Elevated silver, lead, zinc, arsenic and antimony values were also identified.
During 2010, Linux contractors attempted to verify this anomaly by collecting nine (9) soil and forty-six (46) rock chip samples that were run at ALS Chemex Labs, Inc., using the Au-AA24 analytical method. The nine soil samples, which contained 10 to 967 ppb gold (.01 g/t to .967 g/t gold) and an average of 156 ppb gold (.156 g/t gold), successfully confirmed the northeast trend of the mineralization and widened it by approximately 150 feet to the northwest. The thirty-four rock chip samples contained up to 411 ppb gold (.441 g/t gold), with elevated gold values obtained from quartz veins within the intrusive. The rock sample program closed off the mineralized zone to the northwest at an elevation of about 3,000 feet. The gold anomaly remains open to the northeast, southwest, and southeast. Future work planned by Linux will include sample programs that test these possible extensions as well as evaluating other gold-polymetallic anomalies that are known within the Trout Claim Group.
The mineral data described above was prepared by Thomas K. Bundtzen, P. Geo., BS, MS, CPG-10912, ABSLN#279639, President of Pacific Rim Geological Consulting, Inc., of Fairbanks, Alaska, who is independent of the Company as defined in NI 43-101. Bundtzen is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists (AIPG). Bundtzen is a Qualified Person as defined in NI 43-101 and also qualifies under the rules stated by the U.S. Securities and Exchange Commission ("SEC"), and has verified the data contained in this news release for accuracy.
Source: Linux Gold Corp.