VANCOUVER, May 7, 2018 /CNW/ - Leagold Mining Corporation
(TSX:LMC; OTCQX:LMCNF) ("Leagold" or the "Company") reports
drilling results for the Los Filos Underground mine in Mexico. Highlights are from the Nukay,
Conchita and Creston Rojo deposits
and include 24.2 grams per tonne ("gpt") over 4.10 metres; 23.6 gpt
over 6.95 metres; and 9.1 gpt over 8.69 metres respectively (all
capped grades and true widths; see Table 1).
Los Filos currently operates two open pit mines, Los Filos and
Bermejal, and one underground mine at Los Filos. The Los Filos
Underground mine provides high grade (5 to 8 g/t Au) ore at a
mining rate of 1,500 tonnes of ore per day.
The Los Filos Underground mine is comprised of two sectors: the
Norte Mine and the Sur Mine. Drilling in the Norte Mine shows
extensions to the Nukay deposit at depth and on the eastern side.
In the Sur Mine, the drilling has identified additional
mineralization as extensions to the Zona 70 and Creston Rojo deposits.
The objective of the Los Filos Underground mine drilling program
is to identify additional resources to replace reserves and extend
the overall mine life. The program is on track with over 12,000
metres of step-out drilling completed to date and the majority of
the exploration drilling to take place in the second half of this
year. Drilling of a total of 62,000 metres is planned for 2018 and
is focused on several deposits along the contact of the circular
intrusive bodies. All of the holes that have been completed in this
program intersected oxide skarn mineralization at the contact of
the intrusive. A total of 52 intercepts were encountered in 32
holes. The drill holes reported in this news release will be
incorporated into a final resource estimate for year-end
reporting.
Table 1: Drill Program Highlights for Los Filos Underground
Mine
Sector
|
Zone
|
Hole
ID
|
Zone
|
From
(m)
|
To
(m)
|
Length
(m)
|
True
Width
(m)
|
Grade
(g/t Au)
|
Capped
(g/t Au)
|
Norte
|
Nukay
|
UNK-01-18
|
RAM
|
5.05
|
8.85
|
3.80
|
3.79
|
3.07
|
|
|
|
and
|
CON
|
29.15
|
32.60
|
3.45
|
3.44
|
4.51
|
|
Norte
|
Nukay
|
UNK-02-18
|
RAM
|
4.85
|
10.25
|
5.40
|
5.38
|
9.40
|
|
|
|
and
|
CON
|
33.95
|
38.55
|
4.60
|
4.58
|
6.23
|
|
Norte
|
Nukay
|
UNK-04-18
|
CON
|
151.80
|
155.55
|
3.75
|
2.87
|
4.05
|
|
Norte
|
Nukay
|
UNK-05-18
|
RAM
|
61.00
|
68.10
|
7.10
|
5.44
|
5.06
|
|
|
|
and
|
RAM
|
75.35
|
79.85
|
4.50
|
3.45
|
5.81
|
|
|
|
and
|
RAM
|
87.65
|
93.00
|
5.35
|
4.10
|
27.44
|
24.19
|
|
|
and
|
RAM
|
102.10
|
107.90
|
5.80
|
4.44
|
4.89
|
|
Norte
|
Nukay
|
UNK-07-18
|
CON
|
130.60
|
131.45
|
0.85
|
0.80
|
54.80
|
40.00
|
|
|
and
|
RAM
|
139.65
|
143.35
|
3.70
|
3.48
|
4.57
|
|
Norte
|
Nukay
|
UNK-08-18
|
RAM
|
122.30
|
125.85
|
3.55
|
2.72
|
8.18
|
|
|
|
and
|
RAM
|
132.60
|
133.95
|
1.35
|
1.03
|
21.50
|
|
Norte
|
Nukay
|
UNK-11-18
|
RAM
|
140.00
|
144.05
|
4.05
|
3.51
|
4.77
|
|
|
|
and
|
CON
|
194.10
|
204.20
|
10.10
|
8.75
|
8.94
|
8.01
|
|
|
including
|
CON
|
194.10
|
196.65
|
2.55
|
2.21
|
4.88
|
|
|
|
including
|
CON
|
198.25
|
201.30
|
3.05
|
2.64
|
22.81
|
19.71
|
Norte
|
Nukay
|
UNK-12-18
|
CON
|
94.55
|
104.70
|
10.15
|
9.54
|
9.71
|
|
Norte
|
Nukay
|
UNK-13-18
|
CON
|
107.75
|
122.10
|
14.35
|
10.99
|
4.38
|
|
|
|
including
|
CON
|
107.75
|
110.75
|
3.00
|
2.60
|
8.25
|
|
|
|
including
|
CON
|
116.90
|
122.10
|
5.20
|
4.50
|
5.44
|
|
|
|
and
|
CON
|
138.25
|
141.25
|
3.00
|
2.60
|
13.28
|
|
Norte
|
Peninsular
|
UP-01-18
|
CON
|
92.60
|
94.45
|
1.85
|
1.82
|
11.87
|
|
Norte
|
Peninsular
|
UP-03-18
|
RAM
|
70.95
|
71.95
|
1.00
|
0.98
|
24.10
|
|
Norte
|
Peninsular
|
UP-04-18
|
RAM
|
57.35
|
59.30
|
1.95
|
1.49
|
14.70
|
|
Norte
|
Conchita
|
LC-01-18
|
RAM
|
99.45
|
106.65
|
7.20
|
6.95
|
31.48
|
23.64
|
|
|
and
|
RAM
|
113.35
|
115.60
|
2.25
|
2.17
|
8.07
|
|
|
|
and
|
RAM
|
124.45
|
132.00
|
7.55
|
7.29
|
5.85
|
|
|
|
including
|
RAM
|
127.30
|
132.00
|
4.70
|
4.54
|
7.49
|
|
Norte
|
Conchita
|
LC-03-18
|
RAM
|
135.45
|
138.00
|
2.55
|
2.21
|
29.59
|
23.85
|
|
|
and
|
CON
|
152.55
|
163.90
|
11.35
|
9.83
|
6.40
|
|
|
|
and
|
CON
|
170.85
|
174.60
|
3.75
|
3.25
|
3.75
|
|
|
|
and
|
RAM
|
187.50
|
194.00
|
6.50
|
5.63
|
4.77
|
|
Norte
|
Conchita
|
LC-05-18
|
CON
|
117.00
|
120.95
|
3.95
|
3.71
|
4.55
|
|
|
|
and
|
CON
|
123.40
|
126.50
|
3.10
|
2.91
|
4.40
|
|
|
|
and
|
RAM
|
141.20
|
142.50
|
1.30
|
1.22
|
26.40
|
|
Sur
|
Creston
Rojo
|
US-01-18
|
CON
|
24.05
|
27.20
|
3.15
|
3.14
|
6.86
|
|
Sur
|
Creston
Rojo
|
US-02-18
|
CON
|
26.30
|
34.65
|
8.35
|
7.57
|
9.21
|
|
|
|
including
|
CON
|
26.30
|
28.65
|
2.35
|
2.13
|
16.75
|
|
|
|
including
|
CON
|
32.25
|
34.65
|
2.40
|
2.18
|
10.20
|
|
Sur
|
Creston
Rojo
|
US-04-18
|
CON
|
24.10
|
26.55
|
2.45
|
2.45
|
3.81
|
|
Sur
|
Creston
Rojo
|
US-09-18
|
RAM
|
37.65
|
39.10
|
1.45
|
1.40
|
21.00
|
|
Sur
|
Creston
Rojo
|
US-11-18
|
CON
|
115.20
|
117.75
|
2.55
|
2.09
|
7.95
|
|
Sur
|
Creston
Rojo
|
US-14-18
|
CON
|
59.00
|
60.80
|
1.80
|
1.38
|
10.60
|
|
Sur
|
Creston
Rojo
|
US-19-18
|
CON
|
62.75
|
65.05
|
2.30
|
1.76
|
5.83
|
|
Sur
|
Creston
Rojo
|
US-20-18
|
CON
|
34.00
|
36.65
|
2.65
|
2.64
|
11.18
|
|
|
|
and
|
CON
|
40.95
|
43.10
|
2.15
|
2.14
|
16.41
|
|
Sur
|
Creston
Rojo
|
CRZ-182-17
|
CON
|
333.40
|
336.20
|
2.80
|
2.29
|
8.18
|
|
Sur
|
Creston
Rojo
|
CRZ-183-18
|
CON
|
159.60
|
162.20
|
2.60
|
2.44
|
9.31
|
|
Sur
|
Creston
Rojo
|
CRZ-185-18
|
CON
|
179.80
|
184.45
|
4.65
|
4.37
|
11.30
|
|
Sur
|
Creston
Rojo
|
CRZ-187-18
|
CON
|
81.55
|
82.90
|
1.35
|
1.27
|
10.75
|
|
|
|
and
|
CON
|
199.65
|
207.65
|
8.00
|
7.52
|
6.48
|
|
|
|
Including
|
CON
|
199.65
|
202.75
|
3.10
|
2.91
|
14.03
|
|
Sur
|
Creston
Rojo
|
CRZ-189-18
|
CON
|
266.15
|
275.40
|
9.25
|
8.69
|
9.07
|
|
|
|
and
|
CON
|
284.30
|
285.35
|
1.05
|
0.99
|
10.90
|
|
Sur
|
Creston
Rojo
|
CRZ-191-18
|
RAM
|
180.35
|
182.80
|
2.45
|
2.37
|
5.42
|
|
Sur
|
Creston
Rojo
|
CRZ-193-18
|
RAM
|
206.05
|
211.60
|
5.55
|
4.81
|
5.02
|
|
Sur
|
Creston
Rojo
|
CRZ-194-18
|
CON
|
132.00
|
138.90
|
6.90
|
6.48
|
9.85
|
|
|
|
including
|
CON
|
132.00
|
136.05
|
4.05
|
3.81
|
14.47
|
|
|
|
and
|
RAM
|
146.05
|
147.20
|
1.15
|
1.08
|
11.15
|
|
Sur
|
Creston
Rojo
|
CRZ-195-18
|
CON
|
214.55
|
224.20
|
9.65
|
9.07
|
3.31
|
|
|
|
including
|
COM
|
220.30
|
224.20
|
3.90
|
3.66
|
4.46
|
|
|
NOTES:
|
•
|
Intervals in bold are
mentioned in the text of the news release
|
•
|
CON = oxide
mineralization at the intrusive contact; RAM= mineralization in a
separate zone that is away from the contact
|
•
|
Only Intercepts with
over 3 gpt when diluted to a minimum true width of 3 metres are
shown
|
•
|
Individual assays
within the intercepts were capped using 40 g/t limit
|
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.
The 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 in Vancouver for
analyses by fire assay and ICP - OES (Inductively Coupled Plasma
optical emission spectrometry). 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 mid-tier gold producer with a focus on
opportunities in Latin America.
The Company is based in Vancouver,
Canada and owns 100% of the Los Filos mine in Mexico. Leagold is listed on the TSX under the
trading symbol "LMC" and trades on the OTCQX market as "LMCNF".
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 and drilling at the Los Filos Mine and plans for a
final resource estimate. 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