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LEGEND GOLD CORP. EXPLORATION UPDATE
Legend Gold Corp.
(the �Company� or �Legend Gold�) (TSX.V: LGN) is
pleased to provide an update on ongoing exploration programs.
TIEKOUMALA
Our combination of systematic geochemical sampling, geophysical and
structural interpretation, and AC and RC drilling has produced exploration
success at Tiekoumala.
At Tiekoumala North, Legend Gold has an NI 43-101 compliant
resource calculation (2007) of 7,880,000 tonnes at
a grade of 0.95 grams per tonne for 241,000 ounces
of gold in the indicated mineral resource category and 10,550,000 tonnes at a grade of 1.05 grams gold per tonne for 353,000 ounces of gold in the inferred mineral
resource category. Over the past ten months extensive geochemical sampling
has led to the identification of several extensive gold anomalies proximal to
this existing resource. There are currently several thousand samples from air
core (�AC�) drilling from this area and from portions of Tiekoumala
South awaiting assay.
Drill results were
released from about 20% of the planned drilling program at Tiekoumala on Thursday April 17, 2011 (see press release dated
April 17, 2011). Those results represented samples from a 50 hole
(5,000 metre) reverse circulation drill (�RC�)
program designed to test a north south corridor of anomalous to high grade
gold mineralization (see press release dated August 4, 2010 and April 17, 2010) at Tiekoumala South. The
Company considers these results and the existence of this corridor, or zone,
to be a highly prospective gold occurrence requiring further detailed
exploration. Geochemical sampling is underway to expand our knowledge of this
extensive auriferous zone prior to continuing our drilling in this area.
Geochemical
sampling of termite mounds for gold content over an area of approximately 60
square kilometres in the center of the Tiekoumala project will be completed in three weeks. This
sampling will permit interpretation of regional soil and termite mound
geochemistry between Tiekoumala North and Tiekoumala South.
The Tiekoumala project is a large area consisting of over 380
square kilometres in two active permits. There are
numerous, extensive gold targets over a very wide area. So far, Legend Gold
has encountered gold mineralization in bedrock wherever it drills these
anomalies, including the above mentioned resource at Tiekoumala
North. All zones are open on strike and to depth.
The continued employment of a systematic approach to geochemical sampling,
geophysical and structural interpretation, and AC and RC drilling will permit
us to vector in on the most promising gold targets on this property to
provide continued success.
LAKANFLA
Located in western Mali, the Lakanfla and Tintimbu permits (collectively called Lakanfla)
form a key part of the Company's strategy to explore and expand its gold
discoveries along strike of the 11 million ounce Sadiola
Gold Mine (AngloGold Ashanti, IAMGOLD, SEMOS) ("Sadiola").
Legend Gold�s Lakanfla project is contiguous to the
southern boundary of Sadiola and is situated 10 kilometres southeast of Sadiola�s
main open pit. Lakanfla is located along the Sadiola mine trend which has produced more than 11
million ounces of gold.
Legend Gold
announced the mobilization of a drill rig to the property to commence a
10,000 metre combined RC and AC drill program in
March 2011 (see press release dated March 30, 2010). There are three gold
occurrences within the Lakanfla permit known as
Zones 1, 2, and 3 which will be the primary focus of this season�s drill
program Each zone remains open on strike and to depth.
There has been
little exploration on the Lankafla property since 2004. In total there is an historical
data base of drilling completed by the Company in 2003 to 2005 of: 6,003 metres of AC drilling in 128 holes, 10,355 metres of RC drilling in 113 holes, and 1,729 metres of diamond drilling in 8 holes. In addition to the
drill data, the Company has completed extensive geochemical and geophysical
surveys that will be used to plan new exploration. Please see press releases
dated: July 29 and December 17, 2003, and January 7,
May 3, June 8, July 6, 2004, and March 4, 2005 for detailed descriptions of drill results from
previous programs. These press releases are available on the Company�s
website at www.legendgold.com or SEDAR.COM.
Legend Gold has two
other pipeline projects in Mali, the Diokeba and Dalakan projects. Diokeba is
adjacent to our Lakanfla project in western Mali
and on trend with the same mine trend as Sadiola
and Lakanfla. The Dalakan
project is located in southern Mali and is a high quality gold exploration
property. In addition the company continues to evaluate properties within the
borders of Mali that demonstrate favourable geology
and gold mineralization in the principal mining districts of the country.
Legend Gold is
fully financed to complete its current exploration plans with approximately
$3.1 million on hand. We expect no appreciable dilution as in-the-money
warrants continue to provide cash to cover exploration expenditures.
Qualified Person
The technical information contained in this news release has been reviewed
and verified by H. Andrew Daniels, P. Geo, a Qualified Person as defined
by National Instrument 43-101. Mr. Daniels has over 25 years of mineral
exploration and mining experience, is a Licensed Professional Geologist in
the Province of Ontario and a member in good standing of the Association of
Professional Geoscientists of Ontario � Registered P. Geo (#0988).
About The Company
Legend Gold is
a mineral exploration and development company focused on exploring for gold
in the Republic Of Mali, West Africa. Our four main projects are the Tiekoumala, Lakanfla, Diokeba, and Dalakan projects.
In recent years, we have made significant gold discoveries on the Tiekoumala project located in Southern Mali, and the Lakanfla project located in Western Mali. Legend Gold has
58,826,124 common shares issued and outstanding (82,543,018 shares on a fully
diluted basis). Please visit our website www.legendgold.com for more information about our projects.
FOR FURTHER
INFORMATION PLEASE CONTACT:
Jane Curtis, Manager Corporate Affairs
Email: info@legendgold.com
Tel: 416.703.6348
or
Renmark Financial Communications Inc.
Barry Mire: bmire@renmarkfinancial.com
Matthew Planche: mplanche@renmarkfinancial.com
Tel: 514.939.3989 or 416.644.2020
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