Laurentian Goldfields Ltd. (TSX-V: LGF) ("Laurentian" or the "Company") is pleased to provide the following update on the Company's Van Horne Project, near Dryden Ontario.
In August and October 2008, Laurentian's field crews completed a two-phase geological mapping and rock and soil sampling program on the Company's Van Horne Property.
The highlights of the 2008 work program are based on a selective grab sampling program from a number of known and historic shafts, waste piles and vein outcrops across the Property. Gold assays as high as 124.5 grams/tonne were obtained along a gold-bearing trend some 5 kilometres long that may coincide with 1 or 2, approximately east-west striking, sub-parallel geological structures (Figure 1). No significant exploration has been undertaken on the Van Horne Property since the mid-1980s, when Van Horne Exploration defined a small (non 43-101 compliant) gold resource on the Vanlas Deposit (Figure 1). Prior to the signing of the Van Horne Agreements (see Laurentian press release July 7, 2008), the mineralized trend defined by Laurentian was covered by claims held by 4 different vendors. Under the terms of the Agreements, Laurentian has consolidated ownership of this highly prospective trend into a single property, in which Laurentian can earn 100% interest.
Highlights of Laurentian's grab sampling program from known gold showings on the Property are presented in Table 1 and Figure 1 below:
Table 1. Van Horne Property 2008 Select Grab Sample Assay Results
|Showing Location||Description||Results||Sample Number|
|Lone Jack||Felsic Volcanic w quartz-ankerite veining||124.5 g/t Au||929686|
|Lost Mine||Quartz vein in trench adjacent to east shaft||93.3 g/t Au||31917|
|Drake Mine||Quartz vein material from waste pile||44.8 g/t Au||439849|
|Little Jumbo area||Intermediate lapilli tuff with quartz veins along foliation||15.4 g/t Au||929700|
|Good Luck Mine||Quartz vein material from waste pile||8.8 g/t Au||929961|
|Good Luck Mine||Quartz vein in trench||8.4 g/t Au||341809|
In addition to the above, a program of lithogeochemical rock sampling, reconnaissance mapping, and mobile-metal ion ("MMITM") soil sampling were completed on approximately 400 x 100 metre centres. MMITM analyses have returned encouraging gold results along an easterly trend in the northern part of the Property, where outcrop exposure is minimal. Further work is needed in order to fully quantify the significance of these results.
Lake sediment samples were collected on 300 x 100 metre centres on the 7 main lakes on the Property. Analytical results have been received and interpretation is underway.
In order to better understand the structural setting of known gold mineralization on the Property, detailed structural mapping was completed on the East Zone near Flambeau Lake and on the Lost Mine shaft area in the eastern end of the Property.
Exploration plans for 2009 include outcrop stripping and/or trenching, accompanied by additional detailed mapping and sampling, in order to define diamond drill targets by late 2009.
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 technical contents of this release have been reviewed by Mr. Pat Lengyel, P.Geo., Vice President Exploration for Laurentian Goldfields Ltd., a Qualified Person pursuant to NI 43-101.
About Laurentian Goldfields Ltd.
Laurentian is a team of highly skilled exploration professionals focused on discovery and growth in under-explored regions of mining-friendly jurisdictions. The Company generates new projects by employing leading edge exploration concepts and techniques to quickly and cost-effectively screen vast tracts of land for geological and geochemical signatures known to be associated with world class gold deposits.
ON BEHALF OF THE BOARD OF DIRECTORS,
Andrew Brown, M.Sc., P.Geo.
President and CEO
The TSX Venture Exchange does not accept 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 future exploration and development 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, the timing and success of future exploration and development activities.
For further information, please contact:
Lara Cubitt, Manager Corporate Communications
Telephone: (604) 646-1599
Fax: (604) 642-2411