VANCOUVER, Nov. 20, 2017 /CNW/ - Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) ("Leagold" or the "Company") reports additional results from the Bermejal Underground drill program at the Los Filos mine in Mexico.
Highlights include 5.8 grams per tonne ("gpt") over 41.9 metres, including 10.6 gpt over 8.6 metres and 23.2 gpt over 3.5 metres; 19.0 gpt over 4.2 metres; and 8.3 gpt over 7.6 metres (all capped grades and true widths; see Table 1). The 22 new holes are part of a 56,000-metre infill and step-out exploration program, and follow 66 holes previously reported. Over 52,500 metres (94%) of the drill program have now been completed.
Leagold CEO Neil Woodyer stated: "The results of the drill program at Bermejal Underground have exceeded our expectations to date, with several areas of high-grade mineralization already defined. We continue to see excellent results as we focus the remainder of the drilling on the Central and Western side of the deposit. We have 15 rigs on site and will complete the drill program in November.
"In the meantime, work continues on the Bermejal Underground ramp. We have advanced 99 metres to date and are on track to reach the test mining area in Q2 of next year. Operational improvements under the guidance of the new management team at the Los Filos Mine continue to steadily progress."
Nine of the 22 holes reported today provide infill in the area that will be accessed for test mining in Q2 2018 on the eastern flank of the Bermejal Underground deposit. This includes hole BUT-07-17 which intercepted 14.3 gpt over 4.2 metres.
An updated resource estimate is expected before year end. The drill holes reported in this news release, and the results from the continuing program, will be incorporated into a final resource estimate for year-end reporting.
Bermejal Underground is at the northern end of a large intrusive body which has a total circumference of at least 15 kilometres providing extensive additional areas for further exploration. The area being drilled as the Bermejal Underground mineralization extends approximately 1,600 metres along the strike of the intrusive contact and has a vertical depth extent of over 800 metres (Figure 1). The drilling shows consistent oxide mineralization at carbonate/intrusive contacts either along the intrusive contact or below the intersection between the sill and the Bermejal intrusive contact (a "sub-sill" deposit).
Table 1: Drilling Program Highlights for Bermejal Underground Deposit
| Sector | Hole ID | Zone | Skarn Type |
From (m) |
To (m) |
Length (m) |
True Width (m) |
Grade (g/t Au) |
Capped (g/t Au) |
| East | BU-47A-17 | LI | Exo | 574.05 | 576.15 | 2.10 | 1.97 | 8.24 | |
| LI | Exo | 605.75 | 611.55 | 5.80 | 5.26 | 5.44 | |||
| East | BU-63-17 | LI | Exo | 625.65 | 632.40 | 6.75 | 2.31 | 6.45 | |
| East | BU-64-17 | LC | Exo | 504.95 | 511.15 | 6.20 | 5.83 | 3.51 | |
| LC | Exo | 514.65 | 522.70 | 8.05 | 7.56 | 8.28 | |||
| LC | Exo | 539.60 | 544.25 | 4.65 | 4.37 | 3.39 | |||
| East | BU-68-17 | SILL | Endo | 460.35 | 465.25 | 4.90 | 4.01 | 3.64 | |
| West | BU-69-17 | LI | Exo | 410.10 | 411.30 | 1.20 | 1.04 | 8.65 | |
| Central | BU-73-17 | LC | Exo | 447.75 | 452.15 | 4.40 | 3.81 | 6.07 | |
| LI | Exo | 659.70 | 662.80 | 3.10 | 2.68 | 4.11 | |||
| West | BU-74-17 | LC | Exo | 318.80 | 319.80 | 1.00 | 0.94 | 9.98 | |
| and | LI | Exo | 436.30 | 479.65 | 43.35 | 41.87 | 6.13 | 5.77 | |
| including | LI | Exo | 444.20 | 447.80 | 3.60 | 3.48 | 23.18 | 18.95 | |
| including | LI | Exo | 462.00 | 471.15 | 9.15 | 8.60 | 10.55 | ||
| including | LI | Exo | 475.15 | 479.65 | 4.50 | 4.23 | 7.37 | ||
| Central | BU-75-17 | UI | Exo | 119.90 | 125.25 | 5.35 | 1.38 | 8.31 | |
| and | LI | Exo | 277.30 | 281.40 | 4.10 | 2.35 | 10.67 | ||
| and | LI | Exo | 451.40 | 459.95 | 8.55 | 6.05 | 8.36 | ||
| Central | BU-78-17 | LI | Exo | 455.35 | 469.20 | 13.85 | 13.64 | 3.79 | |
| East | BU-81-17 | UI | Exo | 227.10 | 232.45 | 5.35 | 4.85 | 3.37 | |
| UI | Endo | 244.10 | 247.40 | 3.30 | 2.53 | 4.40 | |||
| UI | Endo | 276.40 | 280.60 | 4.20 | 2.70 | 13.89 | |||
| LI | Endo | 429.00 | 430.50 | 1.50 | 0.75 | 18.80 | |||
| Central | BU-83-17 | UC | Endo | 250.20 | 252.70 | 2.50 | 1.77 | 35.27 | 20.09 |
| Sill | Endo | 324.15 | 328.10 | 3.95 | 2.79 | 4.07 | |||
| Sill | Endo | 392.00 | 400.15 | 8.15 | 7.39 | 4.52 | |||
| LI | Exo | 418.05 | 420.45 | 2.40 | 2.32 | 15.43 | |||
| LI | Exo | 429.30 | 432.00 | 2.70 | 2.61 | 9.66 | |||
| East | BUT-01-17 | UC | Exo | 215.15 | 229.70 | 14.55 | 13.29 | 3.12 | |
| including | UC | Exo | 220.30 | 224.70 | 4.40 | 4.02 | 3.65 | ||
| and | UC | Exo | 252.85 | 259.20 | 6.35 | 5.80 | 3.58 | ||
| East | BUT-02-17 | UC | Exo | 254.60 | 263.05 | 8.45 | 7.32 | 3.79 | |
| including | UC | Exo | 254.60 | 257.20 | 2.60 | 2.25 | 5.01 | ||
| including | UC | Exo | 260.60 | 263.05 | 2.45 | 2.12 | 5.55 | ||
| East | BUT-04-17 | UC | Exo | 285.85 | 290.65 | 4.80 | 3.68 | 3.92 | |
| East | BUT-05-17 | UC | Exo | 293.00 | 295.95 | 2.95 | 2.26 | 4.46 | |
| East | BUT-06-17 | UC | Exo | 312.40 | 315.80 | 3.40 | 2.19 | 6.25 | |
| and | UI | Endo | 402.55 | 404.55 | 2.00 | 1.29 | 7.17 | ||
| East | BUT-07-17 | UC | Exo | 263.45 | 269.40 | 5.95 | 4.21 | 19.09 | 14.31 |
| East | BUT-09-17 | UC | Exo | 269.30 | 280.70 | 11.40 | 9.34 | 3.21 | |
| including | UC | Exo | 269.30 | 272.10 | 2.80 | 2.29 | 5.25 | ||
| and | UI | Endo | 342.85 | 346.30 | 3.45 | 2.64 | 3.98 |
NOTES:
- Intervals in bold are mentioned in the text of the news release
- All intercepts are over 3 gpt when diluted to a minimum true width of 3 metres. Drill holes BU-71-17, BU-72-17, BUT-03-17 and BUT-08-17 all intercepted mineralization but dilute below 3 gpt after diluting to 3 metres
- UC = Upper Contact of Sill; LC = Lower Contact of Sill; Sill = Oxide within Sill; UI = Intrusive Contact above Junction with Sill; LI = Intrusive Contact below Junction with Sill
- Individual assays within the intercepts were capped using 40 gpt limit
Figure 1: Plan View Map of Bermejal Area Showing Geology, Drill Holes Reported and Outline of Bermejal Underground Resource
Qualified Persons
Doug Reddy, P.Geo, Leagold's Senior Vice President – Technical Services, is a Qualified Person under NI 43-101, and has reviewed and approved the technical contents of this news release on behalf of Leagold.
Los Filos Mine employs industry standard drilling and sampling procedures. All exploration samples are sent to an ALS Global facility in Guadalajara for preparation and Vancouver for analyses by fire assay and ICP. A full quality control and assurance program and protocols are in place and are aligned with best practices including regular insertion of certified reference standards, blanks, and duplicates.
About Leagold Mining Corporation
Leagold is building a new mid-tier gold producer with a focus on opportunities in Latin America. Leagold is based in Vancouver, Canada and is listed on the TSX under the trading symbol "LMC" and trades on the OTCQX market as "LMCNF". The recent acquisition of the Los Filos Mine, a low-cost gold producer in Mexico, provides an excellent platform for growth.
