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Share Name | Share Symbol | Market | Type |
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Logan Copper Inc. | TSXV:LC | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Logan Copper Inc. (the "Company" or "Logan Copper"), (TSX VENTURE:LC) wishes to report that its technical team has completed 112 line kilometres of ground geophysics on 4 main project targets in stage 1 of its 2011 exploration season. A number of potential drill targets have been identified with further targets anticipated pending completion of the geophysics review. Drilling is expected to begin within the next few weeks, weather permitting. All 2010 drill holes have now been logged, sampled and sent for assay. Drilling permits are in place for the Bertha Molly and Dansey project areas with permitting of the Duffy and TW project areas underway pending First Nations consultation and archaeological overview assessment. These project areas are all located on Logan's central BC copper property, contiguous to Teck Resources Ltd.'s "Highland Valley" copper mine, currently Canada's largest actively producing copper mine. Logan Copper's property consists of 136 mineral claims for a total of 135,935 acres. Logan Copper's President and CEO, Thal S. Poonian stated "we are excited that through the dedication and hard work of our team we have identified a number of new anomalies, on all four project areas (Dansey, Bertha Molly, TW and Duffy), which represent high quality drill targets for the 2011 drill program. Between February and April 2011, 112 line kilometres of ground geophysics have been completed, geophysical interpretation is underway and 8 promising drill targets have been identified". Terry Garrow, P.Geo., with a technical team of 7 geologists and geophysical technicians directed and carried out exploration for the Company's 2010 and 2011 field seasons. The 2010 drilling and exploration program commenced on September 21st, 2010 and was completed on December 7th, 2010. The drilling and exploration was focused in the Dansey Project area with plans to explore larger portions of the property in the 2011 field season. Drill targets were defined by 42 line kilometers of ground geophysics near the North and Midway anomalies as well as the surrounding areas. Ground geophysics consisted of VLF-EM and Proton Magnetometer readings every 25 meters to define and target known and new anomalies. Geophysical anomalies were identified at depth below the 2008 drilling on the Northern and Midway project areas. In preparation for the 2011 field season, 9 line kilometers of ground geophysics were completed in the Bertha Molly project area. A total of 51 line kilometers of geophysics were completed during the 2010 field season. The 2010 drill program consisted of 5 diamond drill holes ranging from 200 to 300 meters deep for a total of 1,230 meters on both the North and Midway project areas. 32 element ICP and fire assay analysis were conducted on the drill core. Copper-pyrite mineralized zones were intersected on all drill holes. The 2011 field season commenced February 16th, 2011. Winter ground geophysics was completed on 4 target project areas which were selected by analyzing past drilling and historic reports to delineate the most promising project areas. These 4 target areas are the Dansey, Bertha Molly, Duffy, and TW project areas. During the 2011 field season 23 line kilometers of ground geophysics were completed in the Bertha Molly project area, 8 line kilometers in the Dansey, 11 line kilometers in the TW, and 70 line kilometers in the Duffy. A total of 112 line kilometers of ground geophysics were completed during the winter of the 2011 season. The objective of the winter ground geophysical survey of the 2011 field season was to examine several important project areas with ground geophysics and to identify promising anomalies for drilling when weather permits. Geophysical interpretation is still underway, though several promising targets have been identified and 8 diamond drill holes are currently planned. The technical team is continuing the 2011 geophysical interpretation in all 4 project areas. The technical team has completed the geological drill core logging, sampling and assaying from drill holes 19 and 20 from the 2010 drill program and assay results are expected in the next few weeks. A total of 163 line kilometers of ground geophysics were completed during the 2010 and 2011 field seasons. Spring drilling and geological mapping will continue when weather permits. Terry Garrow, P.Geo., a Qualified Person by the standards of National Instrument 43-101, has reviewed the results obtained and approved the technical information included in this news release. About Logan Copper Inc. Logan Copper Inc. is a Canadian copper exploration company listed on the TSX-Venture Exchange under the symbol LC. Our primary project areas include the "Dansey", "Lost Mine", "Duffy" and "TW" copper properties, which comprise a contiguous parcel totalling over 135,900 acres located between Kamloops and Merritt in British Columbia. The Logan Lake property is contiguous to: Getty Copper Inc.'s copper deposits in the North West; Teck Resources Ltd. "Highland Valley" copper mine to the South West; New Gold Inc.'s "Afton" copper-gold mine to the North East and Gold Fields Canada Exploration BV to the South East. The company currently has 32,928,940 common shares issued and outstanding. Note on forward looking statements This press release contains "forward-looking statements which involve, and are subject to, known and unknown risks, delays, and uncertainties not under the Company's control. These known and unknown risks, delays and uncertainties may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements. On behalf of the Board of Directors of LOGAN COPPER INC. Thal S. Poonian, CEO/President/Director
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