December 15, 2011
Lions Gate Metals Intersects New Zone Of 0.74% Copper Equivalent Over 179.17 Metres At Poplar Project
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Vancouver, BC Canada, December 15, 2011 -- Lions Gate Metals Inc. (TSX-V: LGM) ("Lions Gate" or the "Company")is pleased to announce assay results from four (4) more holes from the recently completed twenty nine (29) hole, 10,913.93 metre diamond drill program at the Poplar Project.
Hole 11-PC-99 drilled the central part of the main mineralized zone and tested the extension of the mineralization intersected in Hole 11-PC-88 (See News Release dated April 13, 2011). Holes 11-PC-98, 100 and 101 were drilled approximately 100 metres apart along an east-west fence on the southern side of the main zone of mineralization.
Results are as follows
Hole 11-PC-98
From To Width Cu% Mo% Au g/t Ag g/t Cu Eq%
3.16 453.24 450.08 0.06 0.00 0.01 0.87 0.09
Including;
108.27 308.10 199.83 0.09 0.00 0.02 0.75 0.13
170.08 308.10 138.02 0.10 0.01 0.02 0.85 0.14
Hole 11-PC-99
From To Width Cu% Mo% Au g/t Ag g/t Cu Eq%
53.60 502.01 448.41 0.34 0.02 0.11 2.12 0.53
Including;
53.60 414.59 360.99 0.37 0.02 0.12 2.32 0.60
235.42 413.59 179.17 0.46 0.03 0.18 3.04 0.74
Hole 11-PC-100
From To Width Cu% Mo% Au g/t Ag g/t Cu Eq%
7.27 553.82 546.55 0.09 0.01 0.02 1.61 0.16
Including;
146.12 303.62 157.50 0.13 0.01 0.03 2.60 0.21
194.39 254.89 60.50 0.19 0.01 0.05 2.79 0.29
368.65 401.77 33.12 0.14 0.01 0.03 7.26 0.29
479.97 553.82 73.85 0.18 0.02 0.05 0.96 0.33
Hole 11-PC-101
From To Width Cu% Mo% Au g/t Ag g/t Cu Eq%
2.66 502.01 499.35 0.04 0.00 0.01 0.57 0.06
Including;
154.95 351.35 196.40 0.07 0.00 0.02 0.96 0.10
154.95 291.35 136.40 0.08 0.00 0.02 1.24 0.12
Peter Ogryzlo, M.Sc., P.Geo., technical advisor to Lions Gate Metals states: "Diamond drill hole 11-PC-99 represents the longest continuously mineralized intersection from the Poplar Deposit since drilling began in 1974. The 0.74% copper equivalent grade over 179.17 metres is the highest grade intercept of this length reported from Poplar. The mineralization in this hole and in the lower portions of 11-PC-97 (See News Release dated December 6, 2011) have intersected a zone of high grade mineralization at depth which has not been previously tested. "
Copper Equivalent (Cu Eq) calculations were based on equivalency factors of CuEq% = Cu% x 1,, Au (CuEq%) = Au g/t x 0.57291667, Ag (CuEq%) = Ag g/t x0.01041667, and metal prices of Cu $2.80/lb, Mo $16.00/lb, Au $1100/troy oz., Ag $20/troy oz. The equivalency factor for molybdenum is Mo (CuEq%) = Mo% x 5.71428571 However, the molybdenum values intersected in 11-PC-104 may not be recoverable, and are not used in the calculation of copper equivalent grade. Metal recoveries are not used, as metallurgical studies are incomplete.
The 100% owned Poplar Project has a NI 43-101 compliant resource of 245 million tonnes grading 0.27% copper, containing 1.4 billion pounds of copper, at a 0.15% copper cut-off. This resource estimate was prepared by Giroux Consultants Limited (News Release dated August 23, 2011), and was based on 105 historical drill holes and 13 diamond drill holes, totaling 5,569m, completed by Lions Gate in the spring of 2011. The Phase 2 drill program will provide enough data for an estimate of gold and silver grades, in addition to copper and molybdenum grades. An updated resource estimate is anticipated in the spring of 2012when all results from the Phase 2 drilling have been received and compiled.
2011 Milestones
Completed a National Instrument 43-101 compliant resource calculation.
Completed over 16,000 metres of drilling at costs below $200 per metre.
Improved our corporate governance practices to include a fully independent audit committee.
Filed an Annual Information Form ("AIF") which will enhance capital market access.
Negotiated Option to earn 75% of ROK-Coyote.
Completed further exploration at ROK-Coyote and Poplar regional targets.
2012 Goals
Publish an updated National Instrument 43-101 Resource Estimate.
Continue drilling to expand and enhance the Poplar Project.
Continue exploration of the Polar Regional targets to include geophysics and drill targeting.
Drill target location and possible drilling at ROK-Coyote.
About Lions Gate Metals
Lions Gate is a Canadian based, junior resource company focused on the exploration, development, and acquisition of Copper projects. LGM owns five substantial projects in British Columbia. LGM's 100% owned flagship project is the Poplar porphyry copper - gold deposit near Houston, BC. The Huckleberry Mine, located approximately 35 kilometres southwest of the Poplar Deposit, produces copper and molybdenum from a deposit of similar age and setting. In 2011, LGM optioned the right to acquire 75% of the ROK-Coyote project near Iskut, BC which sits adjacent to Imperial Metals' Red Chris Project. These 2 projects are the main focus of LGM's 2012 Exploration Program.
Andrew Gourlay P. Geol., Vice President Exploration is a Qualified Person under NI 43-101 and has reviewed and approved the contents of this news releaseSincerely on behalf of the Board of Directors,
"Arni Johannson"
Arni Johannson
CEO and Chairman of the Board
Lions Gate Metals Inc.
www.lionsgatemetals.com/s/...-Copper-Equivalent-Over-179.17...