VANCOUVER, BRITISH COLUMBIA — Jan. 7, 2013 – La Ronge Gold Corp. (TSX VENTURE:LAR)
La Ronge Gold Corp is pleased to announce that a diamond drilling program will be commencing shortly at the Preview SW deposit located in north-central Saskatchewan. The company is planning a 7,000 meters (m) drilling campaign on its La Ronge gold projects in Saskatchewan in 2013. The objectives of the drilling campaigns are to increase the recently announced gold resources at the Preview SW deposit, and evaluating other prospects.
As reported in a News Release dated December 3, 2012, the Preview SW deposit hosts mineral resources as summarized in the table below using the base case estimate at a gold cut-off grade (COG) of 0.5 grams/tonne gold (g/t Au):
|Preview SW Gold Resources|
|Category||COG g/t Au||Tonnes||Au g/t||Contained oz Au|
The technical report summarizing this resource estimation has been submitted to SEDAR. One of the report’s specific recommendations is to “Carry out additional in-fill and definition drilling to define the extent of the Preview SW mineralized zones. There is presently a lack of shallow drill holes near the north and south limits of the resource model.” The Preview SW deposit is clearly open at depth and in both directions along strike.
Rasool Mohammad the company’s President and CEO comments “The potential to add more gold ounces to our existing gold resources is significantly high. The geological and structural setting, the geophysical signature and the presence of gold mineralization in historical drill holes indicate the presence of a prospective corridor with a potential strike length of over 5,000 meters.”
The Preview SW deposit was discovered by SMDC, the predecessor company of Cameco Corp, in the late 1980’s. Structurally controlled mesothermal lode gold is hosted in silicified zones spatially related to quartz veins in a sheared dioritic-gabbroic intrusion and is associated with sulphides. The zone of sheared diorite-gabbro sills extends for 5200 m in a northeast-southwest direction across the property and reaches approximately 200 m in width, and a number of zones of gold mineralization including the Preview SW deposit are hosted in this setting. Several sub-parallel northeast-trending shear zones, totalling 150 m in width, make up the Preview SW deposit, and these zones contain swarms of narrow quartz veins that bifurcate and merge. The en echelon 1 to 10 m-wide shear structures are persistent at depth and often merge in that direction too. The results of Cameco’s and the most recent drilling indicate that gold mineralization is open in both directions along strike and down dip. The Company’s recent drilling also indicates that high grade gold mineralization is also locally present in felsic volcanic rocks that surround the diorite intrusion.
The initial resource estimate was conducted by GeoSim Services Inc. Ronald G. Simpson, P. Geo. of GeoSim, is the Qualified Person as defined under National Instrument 43-101 responsible for the resource estimates. Gordon Davidson, P. Geol., VP Exploration for La Ronge Gold is a “qualified person” for the purposes of National Instrument 43-101, and has verified the non-resource information disclosed in this news release. The technical report discussing this resource estimation has been filed with SEDAR and is available for viewing.
The Company would also like to report that Gary Freeman has stepped down from The Board of Directors in order to pursue personal interests. The Board wishes to thank Gary for his contributions to the Company, and wishes him well in his future endeavours.
About La Ronge Gold Corp.
La Ronge Gold is a Vancouver-based rapidly advancing gold-resource growth and development company, focused on the expansion of high-grade gold deposits in one of Canada’s emerging gold producing regions, the La Ronge Gold Belt, northern Saskatchewan. The Company has significant land positions (52,932 Ha. or 131,000 acres) in the region. The Company also holds other gold projects located in Ontario, Canada.
La Ronge Gold Corp.
Rasool Mohammad, B.Sc. (Mining),
President & CEO
This News Release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects and other plans, intentions, expectations, estimates, and beliefs of the Company. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein, or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise.
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