298m of 0.44% Copper Expands Higher Grade Zone at Poplar Project
Lions Gate Metals Inc.: 298m of 0.44% Copper Expands Higher Grade Zone at Poplar Project, BC
4/13/2011 12:14:45 PM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Apr 13, 2011 (MARKETWIRE via COMTEX News Network) --
Lions Gate Metals Inc. (TSX VENTURE: LGM) ("Lions Gate" or the "Company") is pleased to announce the results of Holes 11-PC-88 (Hole 5) and 11-PC-89 (Hole 6) of its 2011 drilling program at the 100% owned Poplar Project.
Hole 11-PC-88 was drilled at an azimuth of 0 degrees and at a -75 degrees inclination, and was collared approximately 200m south of Holes 11-PC-86 and 87 (News Release dated April 5, 2011). The hole is mineralized over the entire length, and ended in mineralization. The mineralization remains open to depth.
5.79m to 502.00m (End of Hole); 496.21m @ 0.35% Cu, 0.10 g/t Au, 0.015% Mo
Including;
23.79m to 322.00m; 298.21m @ 0.44% Cu, 0.13 g/t Au, 0.022% Mo
The 298.21m interval grading 0.44% Copper and 0.13 g/t Gold encountered in Hole 11-PC-88 is similar in grade and geology to the intersection of 220.95m grading 0.44% Copper and 0.11 g/t Gold in Hole 11-PC-86 (News Release dated April 5, 2011). This latest intersections has confirmed that a previously unrecognized higher grade zone of mineralization is present in the Poplar Deposit. It is significant that the higher grade zones in Holes 11-PC-86 and 88 starts at the overburden-bedrock interface, and are open in all directions. Additional diamond drilling is required to further define this zone.
Hole 11-PC-89 was collared approximately 200m northwest of Hole 11-PC-87, and was drilled at an azimuth of 270 degrees and at a -70 degrees inclination to a total depth of 401.42 m. Hole 11-PC-89 was mineralized throughout with the best interval assaying 0.16% Copper, 0.04 g/t Gold and 1.18 g/t Silver, over 126 m (from 7.92 m to 133.92 m).
Lions Gate management is highly encouraged by these results, which along with the balance of the 2010/2011 drill results will be used to prepare an updated NI 43-101 compliance resource estimate. The updated resource estimate will be released after the completion of the drill program. Lions Gate is also encouraged by the potential for a higher grade, near surface zone within the Poplar Deposit. The Company is well funded, having recently raised $6 million (News Releases dated March 4, 2011 and March 8, 2011), and will be planning a second phase of diamond drilling at Poplar when all the drill results have been received.
Lions Gate CEO Arni Johannson stated, "We are pleased that the drill results continue to expand the zone of higher grade mineralization within the previously defined Poplar deposit and look forward to receiving the balance of the results from the current drilling program."
About Lions Gate Metals
Lions Gate is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage Copper projects. LGM owns 100% of three substantial copper and molybdenum projects located in British Columbia. LGM's flagship project is the Poplar porphyry copper - molybdenum 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.
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 release.
Sincerely on behalf of the Board of Directors,
Arni Johannson, CEO and Chairman of the Board
Lions Gate Metals Inc.
Lions Gate Metals Inc. is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage mineral projects.