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Re: News Release - Tuesday, March 20, 2007
Diamond Drilling Confirms Gold Mineralization At Logan Resources'
Heidi Property
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Tuesday, March 20, 2007 -- Vancouver -- Logan Resources Ltd. (TSXV:LGR)
today announced assays from a
Diamond drill program completed late in
the 2006 season at its Heidi gold project. Two holes, totaling
approximately 425 metres (1,394 feet) were completed. HDI-06-02
encountered a 26-metre mineralized zone which included an intersection
of 1.13 g/t Au over 4 meters, from 15 metres to 19 metres. The
intersection is significant to the local interpreted mineralized zone
and confirms gold mineralization from historical surface trenching
(1-metre chip samples returned values from 1 to 7 g/t Au) and
coincident IP surveys. HDI-06-01 intersected a 30-metre mineralized
zone with intersections of 0.26 g/t Au over 1 metre and 0.12 g/t Au
over 1 metre. See table below.
The gold intersection in HDI-06-02 appears to be the upper edge of the
mineralized gold zone from one of the priority target areas. The
mineralization is located close to surface in a skarn environment
comprised of stratabound gold sulphide replacement mineralization in
limey sediments.
The Company has secured Kluane Drilling of Whitehorse to continue the
Diamond drill program at Heidi early in the 2007 field season and will
proceed with additional
Diamond drill holes (1,400 meters) on this
project as soon as weather permits. The base camp and infrastructure
are already in place at Heidi.
"We are very early into our evaluation, however, the results from the
two holes are very encouraging. We are pleased that the drilling to
date has confirmed the geological model, supported by the trenching and
geophysics," said Seamus Young, President and CEO.
"Numerous targets remain to be tested. The Heidi property hosts several
skarn and porphyry gold targets confirmed by detailed IP surveys. This
property was highly recommended by Homestake for its porphyry and skarn
gold potential before the company was taken over by Barrick. Homestake
recognized similarities in the geochemistry of the system with the
replacement style mineralization of the Carlin Trend, said Mike
Hibbitts, P.Geo, Vice President, Exploration.
HOLE_NO AZIMUTH DIP FROM TO WIDTH GOLD
(Depth, m) (deg.) (deg.) (metre) (metre) (metre) gm/t
HDI_06_01 320 -80 7 8 1 0.124
(236.00 m) 20 21 1 0.264
HDI_06_02 315 -70 15 19 4 1.13
(188.20 m) including: 15 17 2 1.318
17 19 2 0.937
Michael Hibbitts, P. Geo, Vice President Exploration is the Qualified
Person for Logan's properties.
Logan Resources Ltd. is a mineral exploration company that specializes
in acquiring, exploring and advancing Canadian mineral properties. For
more information on the property portfolio and the Company, please
visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
ON BEHALF OF THE BOARD
"Seamus Young"
Seamus Young
President and CEO
For Further Information Please Contact:
Seamus Young, President & CEO
syoung@loganresources.ca
T: 604-689-0299 x 223
Michael Hibbitts, Vice President, Exploration
mhibbitts@loganresources.ca
T: 604-689-0299 x 228
Statements contained in this news release that are not historical facts
are forward-looking statements, which are subject to a number of known
and unknown risks, uncertainness and other factors that may cause the
actual results to differ materially from those anticipated in our
forward looking statements. Although we believe that the expectations
in our forward looking statements are reasonable, actual results may
vary, and we cannot guarantee future results, levels of activity,
performance or achievements.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
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Copyright (c) 2007 LOGAN RESOURCES LTD. (LGR) All rights reserved.
For more information visit our website at http://www.loganresources.ca/
or send mailto:info@loganresources.ca
Message sent on Tue Mar 20, 2007 at 6:33:06 AM Pacific Time
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