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VANCOUVER, Sept. 19 /CNW/ - Logan Resources Ltd. (TSXV:LGR) today announced that the results of the ongoing mapping, prospecting, geophysical and geochemical surveys combined with the diamond drill program at its Shell Creek copper project have demonstrated numerous consistencies with redbed type copper deposits.
Redbed copper systems are known to have immense grade and tonnage potential. It is encouraging that the field work completed this season has demonstrated the potential and the similarities of the Shell Creek project to the redbed copper deposit model.
The banded iron formation at Shell Creek, which has been traced for 8 km along strike, may represent a concentrated redbed sedimentary sequence. This may have important implications for the size and grade of the associated copper mineralization. The redbed type copper mineralization has been discovered proximal to the south side of the north limb of the banded iron formation, and the north side of the south limb. Logan has diamond drilled ten holes at Shell Creek since July 26, 2007 and the helicopter-supported program is continuing.
In addition to the drill program, the Company has collected over 30 samples of mineralized subcrop. Samples have been shipped to the lab and assays will be reported when received. Previously reported samples taken from this area of the property have assayed between 1% and 2% Cu, consistent with the copper grades of redbed copper systems.
Mineralization at Shell Creek consists of disseminations, blebs and fracture fillings of chalcocite, with minor bornite and lesser chalcopyrite, primarily hosted by a chloritic phyllite. Grades of 2% Cu occur within the chloritic phyllite but widths are presently difficult to determine due to exposure in subcrop. The basaltic amygdaloidal flows and grey siltstone/sandstones also host chalcocite and malachite mineralization, but are generally less consistent host rocks and appear to have less chalcocite. Malachite is the most common guide to areas of chalcocite mineralization which is still not easy to detect under low light conditions. The mineralization occurs proximal to the banded iron formation. Disseminated pyrite, up to 3-4%, and disseminated magnetite occur peripheral to areas of copper mineralization. Visible gold has been recovered from quartz vein material on the northeast side of the property. Arsenopyrite was encountered in Hole SCK-07-08.
The 100%-owned Shell Creek property is located 75 km northwest of Dawson City, Yukon. The property sits on the largest gravity anomaly in the Yukon. The Tintina Fault, a major structure associated with several major mineral deposits, transgresses the southern portion of this 11,000 hectare (27,182 acre) property. A coincident IP and gravity anomaly further enhances the significance of an extensive copper soil geochemical anomaly on the property.
Examples of redbed copper deposits include the Keweenaw Peninsula deposits in Michigan, USA and the Coppermine River area, NWT; the Mountain Grill and Radovan in east south-central Alaska; and include the Sustut copper deposit in northern British Columbia (Minfile No 094D 064), which exhibits strong similarities with Shell Creek.
Michael Sanguinetti, P.Eng, Consulting Geologist, is the Qualified Person with respect to the technical information contained herein.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties prospective for precious metals, base metals and uranium. For more information on the projects and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
ON BEHALF OF THE BOARD
"Seamus Young"
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Seamus Young
President and CEO
Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.