May 15, 2008 – Toronto, Ontario – Linear
Metals Corporation (TSX: LRM) is excited to announce results of rush
assays on a 15 metre interval of hole K-08-66 from its KM61 Project located
east of Armstrong, Ontario. This new high grade interval has returned:
� 15.35 metres of
1.67% molybdenum, 0.213% copper and 11.8 grams per tonne of silver.
This intersection represents the longest interval of
high-grade mineralization encountered to date on Linear’s 100%-owned
KM61project. The Company is carrying out a 25,000 metre drill program
on the project that will lead to the completion of a 43-101 compliant
resource estimate during 2008. Drilling to date has outlined an area
of mineralization that at a 0.04% molybdenum cutoff covers 1.25 kilometres
along strike, up to 350 metres in width and is open along strike to the
northeast. The discovery is also open at depth with many of the holes
bottoming in mineralization.
Hole K-08-66 was drilled at -45 degree dip to the southwest,
to better understand the nature of the fault-offset between the Main and
Southwest Zones, and from 94.90 to 110..25 metres, intersected several
quartz-molybdenite veins, with massive molybdenite, up to one centimetre
thick, at a shallow angle to the core axis. Five assays of greater
than 1.0% molybdenum over 1.5 metres were returned to a maximum of 6.83%
molybdenum, with an additional three assays between 0.5 to 1.0%
molybdenum. This 15.35 metre interval also carries enriched copper and
silver values, as detailed in the table below.
|
Drill Hole
|
From (metres)
|
To (metres)
|
Interval (metres)
|
Molybdenum (%)
|
Silver (grams per tonne)
|
Copper (%)
|
|
K-08-66
|
94.90
|
110.25
|
15.35
|
1.67
|
11.8
|
0.21
|
|
including
|
94.90
|
96.50
|
1.60
|
6.83
|
14.3
|
0.32
|
|
|
96.50
|
98.00
|
1.50
|
0.63
|
7.7
|
0.24
|
|
|
98.00
|
99.50
|
1.50
|
2.07
|
31.0
|
0.23
|
|
|
99.50
|
101.00
|
1.50
|
1.74
|
24.9
|
0.56
|
|
|
101.00
|
102.50
|
1.50
|
0.58
|
4.3
|
0.11
|
|
|
102.50
|
104.00
|
1.50
|
0.06
|
1.3
|
0.06
|
|
|
104.00
|
105.50
|
1.50
|
0.07
|
2.0
|
0.08
|
|
|
105.50
|
107.00
|
1.50
|
0.79
|
4.9
|
0.14
|
|
|
107.00
|
108.50
|
1.50
|
2.16
|
11.8
|
0.19
|
|
|
108.50
|
110.25
|
1.75
|
1.48
|
15.0
|
0.20
|
The hole also intersected narrow molybdenite-rich quartz
veins both above and below this interval for which assays are
pending. More drilling will be necessary to determine the thickness
and strike length of this high grade zone, however, it may correlate with a
high grade zone of molybdenum intersected in a 2.9 metre interval starting
at 241.5 metres in hole K-05-12 assaying 1.41% molybdenum, 0.29% copper,
and 12.5 grams per tonne of silver. This interval in K-05-12 is located
approximately 75 metres grid east of, and 140 metres vertically below, the
high grade interval in hole K-08-66, suggesting potential for significant
down-plunge extension of a high grade shoot. Hole K-07-30 appears to
have
undercut the plunge of the shoot to the west, although several
3.0 to 4.5 metre wide zones of 0.1 to 0.2% molybdenum in the hole, at this
depth, may correlate to the bottom edge of the high grade interval in
K-08-66. Additional close-spaced drilling is underway to further test
the high grade zone.
The further significance of K-08-66 is that the mineralized
intersection is located within the chargeability break between the Main and
Southwest Zones, indicating that the interpreted structural discontinuity
between the zones is in reality very narrow, and that mineralization is
continuous, at various grades, right up to the fault(s).
The technical information in this press release was prepared
under the supervision of Matt Rees, P.Geo., Chief Geologist, a qualified
person as defined by National Instrument 43-101. Assaying of samples
during the 2007-2008 program is being performed by ALS Chemex in Vancouver,
British Columbia. Linear has a detailed QA/QC program in place
involving the regular submittal of blanks, duplicates and external
reference standards with the core samples.
In April 2008, Linear Metals completed a 43-101 compliant
resource estimate on its Cobre Grande project and will also complete a
43-101 compliant resource estimate on its KM61 project during the latter
part of 2008. For further details on Linear Metals Corporation and its
projects please visit the Company's website at www.linearmetals.com or contact
investor relations at (416) 216-4708, or within North America at
1-866-376-7683.
Brian MacEachen, President
The TSX has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Information:
This release includes certain statements
that may be deemed "forward-looking statements". All statements
in this release, other than statements of historical facts, that address
future production, reserve potential, continuity of mineralization, exploration
drilling, exploitation activities and events or developments that the
Company expects are forward-looking statements. Although the Company
believes that the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially
from those in the forward-looking statements. The likelihood of future
mining at KM61 is subject to a large number of risks and will require achievement
of a number of technical, economic and legal objectives, including
obtaining necessary mining and construction permits, completion of
pre-feasibility and final feasibility studies, preparation of all necessary
engineering for pits and processing facilities as well as receipt of
significant additional financing to fund these objectives as well as
funding mine construction. Such funding may not be available to the Company
on acceptable terms or on any terms at all. There is no known ore at KM61 and
there is no assurance that the mineralization at KM61 will ever be
classified as ore. For more information on the Company and the risk factors
inherent in its business, investors should review the Company's Annual
Information Form at www.sedar.com.
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