Legend Gold Announces Completion of Gravity Survey in Mali
15 Gennaio 2014 - 2:28PM
Marketwired
Legend Gold Announces Completion of Gravity Survey in Mali
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 15, 2014) -
Legend Gold Corp. (the "Company" or "Legend Gold")
(TSX-VENTURE:LGN) is pleased to announce that the Company has
received the results of the ground gravity survey recently
completed by MWH Geo-Surveys Ltd over the Lakanfla and Tinntiba
permits in western Mali. The objective of the ground gravity survey
was to identify intersections of mineralized structures with
weathered carbonate lithologies where there is potential for
significant gold accumulation and enrichment. Analogs to this
geological model can be found at Yatela, FE3 and FE4 gold deposits
of AngloGold Ashanti Ltd and IAMGOLD Corporation. The FE3 and FE4
deposits have produced over 1 million ounces of gold and are
located four kilometres from Lakanfla's northern boundary and are
on strike with Legend Gold's previously identified Zones 1, 2, 3,
and 4 (see attached map).
The gravity survey covered 48 sq km with a 100 m x 100 m grid
with the E-W lines being offset 50 m. The sensitivity of the
gravity survey is reported as ±0.1 milligal which is considered
sufficient to define subtle density contrasts in the bedrock. Four
areas warranted infill surveys at 100 m line spacing with readings
every 25 m. Interpretation of the free-air Bouguer and residual
anomaly maps clearly shows a series of N-S to NNW-SSE trending
anomalies cross-cutting the regional NNE-SSW trends. The
intersection of these N-S gravity lows with positive NNE
lithological trends may indicate areas of deep weathering of
altered calcareous sediments and associated mineralization. Several
of these anomalous "lows" lie adjacent to outcropping N-S trending
vein artisanal workings, suggesting that the structures have
promoted deeper weathering and may be indicate areas of deeper
oxidation.
Douglas Perkins, President and Chief Executive Officer of Legend
Gold stated "We are very encouraged by the new insights to
targeting of mineralization offered by the results of the gravity
survey. As disclosed on January 6, 2013, the Company plans to drill
test on a limited basis four of the anomalous areas where extant
drilling already suggests deeper, infilled, erosional topography
which may not have been tested to bedrock."
Qualified Person
Dr. Demetrius Pohl, Ph.D, AIPG Certified Geologist, a qualified
person under NI 43-101 standards, is responsible for ensuring that
the information in this news release is an accurate summary of the
original reports and data provided to or developed by Legend
Gold.
About Legend Gold
Legend Gold is a mineral exploration and development company
focused on exploring for gold in the Republic of Mali, West Africa
and gold and base metals in the Republic of Congo. Legend Gold's
portfolio includes Lakanfla, Diba, Badiazilia, Mougnina, and
Tiekoumala projects where significant discoveries have been made.
Please visit Legend Gold's website www.legendgold.com to view
project details.
To view the Map associated with this release, please visit the
following link:
http://media3.marketwire.com/docs/legend_gold_maps_jan15.pdf.
This press release
has been prepared by Legend Gold Corp. Neither the TSX Venture
Exchange nor its Regulation Service Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Statements contained in this news release that are not
historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward-Looking Information includes, but is
not limited to, disclosure regarding possible events, conditions or
financial performance that is based on assumptions about future
economic conditions and courses of action; the timing and costs of
future exploration activities on the Company's properties; success
of exploration activities; permitting time lines and requirements;
time lines for technical reports; planned exploration and
development of properties and the results thereof; and planned
expenditures and budgets and the execution thereof. In certain
cases, Forward-Looking Information can be identified by the use of
words and phrases such as "plans", "expects" or "does not expect",
"is expected", budget", "scheduled", "suggest", "optimize",
"estimates", "forecasts", "intends", "anticipates", "potential" or
"does not anticipate", believes", "anomalous" or variations of such
words and phrases or statements that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". In making the forward-looking statements
in this news release, the Company has applied several material
assumptions, including, but not limited to, that the current
exploration and other objectives concerning its mineral projects
can be achieved and that its other corporate activities will
proceed as expected; that the current price and demand for gold
will be sustained or will improve; that general business and
economic conditions will not change in a materially adverse manner;
the continuity of the price of gold and other metals, economic and
political conditions and operations. Forward-Looking Information
involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by the
Forward-Looking Information. Such risks and other factors include,
among others, risks related to the availability of financing on
commercially reasonable terms and the expected use of proceeds;
operations and contractual obligations; changes in exploration
programs based upon results of exploration; future prices of
metals; availability of third party contractors; availability of
equipment; failure of equipment to operate as anticipated;
accidents, effects of weather and other natural phenomena and other
risks associated with the mineral exploration industry;
environmental risks; certainty of mineral licenses; community and
governmental relations; delays in obtaining governmental approvals
or financing; fluctuations in mineral prices; the nature of mineral
exploration and mining and the uncertain commercial viability of
certain mineral deposits; the Company's lack of operating revenues;
governmental regulations and the ability to obtain necessary
licenses and permits; changes in environmental laws and regulations
and changes in the application of standards pursuant to existing
laws and regulations which may increase costs of doing business and
restrict operations; risks related to dependence on key personnel;
and estimates used in financial statements proving to be incorrect;
as well as those factors discussed in the Company's public
disclosure record. Although the Company has attempted to identify
important factors that could affect the Company and may cause
actual actions, events or results to differ materially from those
described in Forward-Looking Information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
Forward-Looking Information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on Forward-Looking Information. Except as
required by law, the Company does not assume any obligation to
release publicly any revisions to Forward-Looking Information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Legend Gold Corp.Douglas PerkinsPresident and Chief Executive
Officer(604) 669 0660 or Mobile: (514) 806
6788dperkins@legendgold.comwww.legendgold.com
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