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.
This news release contains "forward-looking statements" and
"forward looking information" (as defined under applicable
securities laws), including but not limited to plans for future
development of the Los Filos Mine. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects", "expected", "budgeted", "forecasts"
and "anticipates". Forward-looking statements and information,
while based on management's best estimates and assumptions, are
subject to risks and uncertainties that may cause actual results to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the Los Filos Mine, risks related to the successful
integration of the acquisition; risks related to international
operations; risks related to general economic conditions and credit
availability, actual results of current exploration activities,
unanticipated reclamation expenses; changes in project parameters
as plans continue to be refined; fluctuations in prices of metals
including gold; fluctuations in foreign currency exchange rates,
increases in market prices of mining consumables, possible
variations in ore reserves, grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes, title disputes, claims and limitations on
insurance coverage and other risks of the mining industry; delays
in the completion of development or construction activities,
changes in national and local government regulation of mining
operations, tax rules and regulations, and political and economic
developments in countries in which Leagold operates. Although
Leagold has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. The forward-looking statements and
forward-looking information are made as of the date hereof and
Leagold disclaims any obligation to update any such factors or to
publicly announce the result of any revisions to any of the
forward-looking statements or forward-looking information contained
herein to reflect future results. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
Please refer to Leagold's most recent filings under its profile at
www.sedar.com for further information respecting the risks
affecting Leagold and its business.
SOURCE Leagold Mining Corporation