Laurentian Goldfields Ltd. (TSX-V: LGF) ("Laurentian") is pleased to announce further consolidation of its highly prospective Van Horne Property, located 8 kilometres south of Dryden, Ontario.
Between March and May of 2009 the Company staked an additional 1,168 hectares of mining claims, covering an area contiguous with, and southwest of, the current property boundary. The size of the Van Horne Property now stands at 2,907 hectares and covers approximately 9 kilometres of strike length prospective for gold mineralization.
The new claims were acquired in order to cover the strike extension of the Flambeau Deposit, a gold-in-quartz-carbonate vein stockwork hosted by a syn-volcanic, quartz-diorite sill located on the west end of the Van Horne Property. In the 1980's, previous operators delineated a 500 metre long gold-mineralized quartz-carbonate vein stockwork within the sill. This structure was drill tested from surface to a depth of approximately 150 metres and remains open at depth and along strike. Rock samples of the stockwork veining collected by Laurentian geologists in 2008 returned assays as high as 11.8 g/t Au, which is consistent with grades reported in the historic work.
Laurentian's management believes that the stockwork within the quartz-diorite sill presents an excellent target on which to conduct additional exploration for near-surface, bulk tonnage gold mineralization within the Van Horne Property.
The 2009 exploration program on the Van Horne Property is scheduled to commence in late June. Field work will consist of follow up reconnaissance rock, soil, and lake sediment sampling, as well as surface stripping and channel sampling a variety of showings along the 5 kilometre "Gold Trend," defined by Laurentian's 2008 field program (see Laurentian press release, January 7th, 2009).
The objectives of this summer's work are to further define mineralization controls on the "Gold Trend" and to generate diamond drill targets for the winter of 2009/2010. Laurentian's geologists will also initiate geological surveys over the newly acquired claims south of the Flambeau Deposit.
About the Van Horne Property
In 2008, Laurentian negotiated an option to acquire 100% interest in 7 adjoining mining properties in the Eagle-Wabigoon-Manitou Lakes Greenstone Belt near Dryden, Ontario. The 7 properties included 18 patented claims and 14 standard mining claim blocks totalling 1,083 hectares. Subsequent staking and acquisitions have increased the Van Horne Property to a total of 2,907 hectares.
Laurentian is the first company to consolidate a land position of this size around the historic workings at the core of the Van Horne Property. The workings include at least 14 pre-WWII exploration shafts with limited production and three 1980s era, historic (non-NI43-101 compliant) resources (see Laurentian press release, July 9th, 2008).
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. Laurentian 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
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:
Andrew Brown, President and CEO
Tel: (604) 646-1596
Fax: (604) 642-2411