VANCOUVER, BRITISH COLUMBIA – Feb. 26, 2013 – La Ronge Gold Corp. (TSX VENTURE:LAR) –
- Seventeen (17) Drill holes completed to date to test mineralization outside of the Preview SW deposit, as well as to extend the deposit to the northeast, southwest, and down-dip
- Current drilling program will test 2,620 metres (m) of potential strike length
- Drill hole PR13-146, drilled 250m outside the deposit to the northeast, confirmed the extension in that direction; the deposit remains clearly open to extension to the northeast
- Drill holes PR13-147 to PR13-150 confirmed near surface gold mineralization within the deposit to the southwest; the deposit remains strongly open to the southwest
- Metallurgical Test work is underway
- Mineral Resource Estimate update and Preliminary Economic Assessment (PEA) to commence in Q2 of 2013
La Ronge Gold Corp. (the “Company”) has received assays from five (5) additional drill holes from its Preview Property located in north-central Saskatchewan. These holes were drilled on the northeast and southwest margins of the Preview SW gold deposit, testing for extensions of mineralization outside the current resources as well as testing near surface gold mineralization within the deposit.
Drill hole PR13-146, drilled 250 m outside the deposit to the northeast, intersected:
- 2.57 grams/tonne gold (g/t Au) over 6.25 m starting at 164.44 m
Including 4.98 g/t Au over 2.99 m
Drill hole PR13-147 intersected:
- 4.03 g/t Au over 2.27 m starting at 76.96 m
- 3.28 g/t Au over 5.24 m starting at 102.27 m
Drill hole PR13-148 intersected:
- 1.71 g/t Au over 6.95 m starting at 125.23 m
Including 2.40 g/t Au over 5.26 m starting at 126.92 m
Drill hole PR13-149 intersected:
- 8.06 g/t Au over 1.15 m starting at 85.63 m
Drill hole PR13-150, southernmost hole of the drilling campaign, intersected:
- 5.76 g/t Au over 12.59 m starting at 164.90 m
Including 12.35 g/t Au over 4.24 m starting at 164.14 m
Assays from the initial holes of the program (PR13-144 to PR13-145) were previously released on February 4, 2013. Mineralized intervals are based on samples that vary in width from 0.6 m to 1.5 m utilizing 0.20 g/t gold cut-off levels with a maximum internal dilution of 2.0 metres. The attitude of mineralized intervals varies, and reported mineralized intersections may not represent true widths. Please follow this link to view the current area of drilling: http://www.larongegold.com/wp-content/uploads/2013/02/PSW-Drillhole-location-map-Feb-20131.jpg
To date, La Ronge has drilled seventeen (17) drill holes in the current drilling campaign, primarily to test mineralization outside the Preview SW deposit, as well as to test strike extensions of the deposit to the northeast, southwest and down-dip. Holes are being drilled on the Preview A prospect, 400 m northeast of the deposit, as well as on the Preview North /Adit prospect, 2000 m away from the deposit; both prospects are situated in the same northeasterly-trending structural corridor that hosts the Preview SW deposit. Results from these holes will be released when assay results are received. A complete summary of selected mineralized intercepts from holes PR13-146 to PR13-150 is given below.
To view the summary please click the following link: http://www.larongegold.com/wp-content/uploads/2013/02/Slide1.jpg
Company President and CEO Rasool Mohammad comments: “We are anticipating adding 400 m, with the current drilling, to the strike length of the Preview SW gold deposit. The current drill program is giving our team confidence in the strength of the gold system we are exploring and developing at Preview SW.”
About the Preview SW Gold Deposit:
As reported in a News Release dated December 3, 2012, the Preview SW gold deposit hosts gold resources as summarized in the table below, using the base case estimate at a gold cut-off grade of 0.5 grams/tonne gold (g/t Au):
|Preview SW Gold Resources|
|Category||Tonnes||Au g/t||Contained oz Au|
The deposit remains open in all directions.
There are seven known gold prospects on the Property: from north to south they are North/Adit, C, B, Preview SW, Clearwater A, and Clearwater B. In all zones, structurally controlled mesothermal lode gold is found in quartz veins within or on the margins of sheared dioritic-gabbroic sills and is associated with sulphides. The area of diorite-gabbro sills extends for 5200 m in a northeast-southwest direction across the property and reaches approximately 200 m in width.
The main Preview SW deposit is comprised of several sub-parallel northeast-trending gold-bearing structural (shear) zones. The shears trend northeast (020° to 045°) and dip 70° to 90° to the northwest. The en-echelon 1 to 10 m-wide structures are persistent at depth, and the zones bifurcate and merge at depth and along their length. The shears comprise major and minor shears that splay out and merge to form “horses” of undeformed rock within the shear zone.
Engineering and Economic Studies:
In addition to the current exploration and expansion drilling at Preview SW deposit, the Company has initiated metallurgical studies on the Preview SW gold deposit. Preliminary engineering studies and base line environmental surveys will continue in 2013, and an updated resource estimate incorporating the results from this winter’s drilling campaign will then become a part of a Preliminary Economic Analysis (PEA) on the Preview SW Deposit. This PEA will commence in the second quarter of 2013 and should be completed before year-end.
Samples of sawn drill core were analyzed by TSL Laboratories in Saskatoon with fire assay techniques. La Ronge Gold has implemented an industry standard QA/QC program consisting of randomly inserting standards, blanks, and duplicates into the sample stream to ensure assay accuracy and repeatability.
Gordon Davidson, P. Geol., the Company’s Vice President of Exploration and a Qualified Person for the purposes of National Instrument 43-101, has reviewed the technical information in this News Release.
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, including Old Cabin Project in Wawa Ontario where Richmont Mines recently added a new high grade Inferred Mineral Resources of 508,000 Au Ounces at 10.73 g/t at Island Gold Mine.
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.
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.
La Ronge Gold Corp.
Rasool Mohammad, B.Sc. (Mining)
President & CEO