January 26, 2010 -- Vancouver, BC
- Laurentian Goldfields Ltd. (LGF-TSX.V) ("Laurentian") is pleased to announce the results of its 2009 exploration program on the Van Horne Project, situated 8 kilometres (km) south of Dryden, Ontario. The 2009 exploration program at Van Horne was successful in delineating a number of targets for drill testing in 2010.
Highlights of the 2009 exploration program include:
- Definition of three distinct, drill-ready zones: Bonanza-Drake, Flambeau and Gator.
- High-grade gold channel sample assay results from the Bonanza- Drake zone included 36.1 grams per tonne (g/t) gold over 0.6 metres (m), 19.8 g/t gold over 0.5 m, and 6.9 g/t gold over 0.6 m and grab samples up to 29.7 g/t gold.
- The discovery of an entirely new gold geochemical anomaly, the Gator Zone.
- Extending the known strike length of the Flambeau zone to 750 m by exposing an additional 350 m of stockwork veining in trenches.
- Property-wide trench mapping and sampling, infill geochemical surveys (rock, soil, lake sediment, spectral & petrographic), and the completion of an airborne magnetic survey (see news release dated October 2, 2009 for program details).
Significant quartz veining and alteration were observed in all trenches, providing further evidence that the 5km Gold Trend, defined by Laurentian in 2008, is the surface manifestation of a strong, gold-bearing hydrothermal system (see news release dated January 7, 2009). Of the total 778 rock samples submitted for analysis, 110 (14%) samples analyzed >1 g/t gold, and 28 (4%) analyzed >5 g/t gold. Magnetic survey data has identified a series of linear fault structures along the Gold Trend with coincident, untested geochemical anomalies.
The Bonanza-Drake zone is an east-west trending quartz-carbonate vein array. This gold-bearing zone is open at depth and along strike. Channel sampling in 2009 returned assay results which included 36.1 g/t gold over 0.6 m, 19.8 g/t gold over 0.5 m, and 6.9 g/t gold over 0.6 m.
Grab samples from outcrop exposures in this area returned assays ranging up to 29.7 g/t gold. To the east of the historic Bonanza shaft, grab samples obtained values ranging up to 7.83 g/t gold.
Laurentian has utilized recently acquired high-resolution aeromagnetic data to identify a series of linear fault structures that are coincident with gold mineralization and geochemical anomalies throughout the Bonanza-Drake zone. Data compilation and interpretation has defined a number of targets for drill testing in 2010.
The Flambeau zone is an extensive quartz-carbonate vein stockwork that is spatially associated with a syn-volcanic, quartz-diorite intrusion. Trenching in 2009 exposed an extension of this stockwork veining and was selectively channel sampled. Select channel and grab samples assayed up to 24.8 g/t gold over 0.24 m and up to 5.47 g/t gold, respectively. Trenching has extended the known strike length of the Flambeau zone by approximately 300 m, to a total of 750 m. This target remains open in all directions.
The newly delineated Gator zone is a 2 km long gold anomaly defined by Mobile Metal Ion(tm) soil sampling and conventional lake sediment sample surveys. The Gator Zone is located approximately 1.5 km southwest of the Flambeau zone and is targeted for follow-up exploration
2010 Exploration Plans
Laurentian is currently prioritizing drill targets with the intent of initiating a 2010 diamond drill program.
The technical contents of this release have been reviewed by Mr. Patrick Lengyel, P.Geo., Vice President Exploration for Laurentian Goldfields Ltd., a Qualified Person as defined by NI 43-101.
Quality Assurance / Quality Control
All rock samples were sent to ALS Chemex in Thunder Bay, Ontario for analysis of 48 elements by four acid digest, Inductively Coupled Mass Spectrometry (ME-MS61) with a Fire Assay Atomic Absorption finish for gold (Au-AA23). Values greater than 10 grams/tonne gold were re-analyzed by Fire Assay with Gravimetric Finish (ME-MS61). The analytical results have been subjected to lab-internal QAQC testing that included a mix of reference samples and duplicates, and subjected to independent QAQC sampling by Laurentian that included third-party sourced reference standards and blanks. The 4 shipments were analyzed in 14 batches. The lab reference standards, blanks and duplicates all passed lab-internal QC levels. The 14 Laurentian blanks all passed QC standards. One of the two Laurentian reference standards was run twice and passed QC standards, one reference standard was run 19 times, of which 2 were low, 11 were correct, and 6 were high according to a 3SD tolerance. Laurentian is confident that the variance of the one reference standard is due to standard variability and not the lab analysis. Batch reanalysis is underway to confirm this conclusion.
About Laurentian Goldfields Ltd.
Laurentian Goldfields Ltd. is a team of highly skilled exploration professionals focused on gold discoveries in Canada's frontier exploration areas. Laurentian's innovative exploration approach has drawn the attention of major mining companies like AngloGold Ashanti Ltd. and Kinross Gold Corporation, who are currently fully-funding over $4 million in grass roots exploration over the next two years. Meanwhile, Laurentian continues to evaluate new opportunities to advance and grow our portfolio of projects.
ON BEHALF OF THE BOARD OF DIRECTORS,
Andrew Brown, M.Sc., P.Geo.
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to mineral potential and planned exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, realized mineralization of properties and the timing and success of future exploration, development and production activities.
For further information, please contact:
Vanessa Pickering, Manager, Corporate Communications
Tel: (604) 646-1598
Fax: (604) 642-2411