December 2, 2009 -- Vancouver, BC - Laurentian Goldfields Ltd. (LGF.TSX-V) ("Laurentian") is pleased to announce initial exploration results from its recently acquired New Klondike property. The property is located near Dryden, Ontario in the Eagle-Wabigoon-Manitou Lakes greenstone belt.
Highlights of the 2009 exploration program at New Klondike:
• Multiple grab samples from vein exposures returned significant gold assays, including one at 20.8 grams per tonne gold (g/t).
• Soil sampling program indicates potential for further gold mineralization on property.
• Completed structural mapping of historic gold showings
In August, 2009, Laurentian completed structural mapping and sampling of a 400 metre (m) long zone of gold mineralization exposed in historic trenches, currently the best known exposures of outcrop on the property. In addition to the rock sampling, a reconnaissance soil sampling program was completed to the southwest of the trench locations. A total of 67 grab samples and 227 soil samples were submitted to SGS Laboratories for analysis. Of the 67 grab samples submitted, 11 returned assays better than 1 g/t gold, including the following highlights:
2009 Select Grab Sample Assay Results
|Sample#||Sample Type||Gold g/t|
|G01855||Quartz-ankerite-tourmaline vein in trench||20.80|
|G01870||Quartz-ankerite-tourmaline vein in blast rock pile||12.10|
|G01876||Quartz-ankerite-tourmaline vein in trench||12.00|
Anomalous gold and silver values in the soils samples indicate a possible strike extension of 600 m to the southwest of the known mineralized zone.
"New Klondike is another example of the type of regionally focused gold exploration that has also yielded positive results on our nearby Van Horne property," stated Andrew Brown, President & CEO of Laurentian Goldfields, "In this increasingly competitive region of Ontario, we believe that the continued evaluation of cost effective, accessible, yet underexplored prospects has the potential to generate significant new gold discoveries."
About New Klondike
The New Klondike property is located 42 kilometres southeast of Dryden, Ontario, 800 metres south of the Trans Canada Highway. The property is geologically situated on a northeast-trending shear zone, in a regionally extensive zone of iron carbonate alteration of the host volcanic rocks. Through a combination of new staking and an option agreement, Laurentian can acquire 100% interest in 116 contiguous hectares comprising the New Klondike property. Option payments total $30,000 over 4 years with no required work expenditures.
Laurentian will be seeking to option the New Klondike property to a well financed exploration partner.
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 Goldfields Ltd. is a team of highly skilled exploration professionals focused on gold target generation in Canada's frontier exploration areas. 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 major 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:
Vanessa Pickering, Manager, Corporate Communications
Tel: (604) 646-1598
Fax: (604) 642-2411