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LGN Logan Energy Corp

0.70
-0.02 (-2.78%)
Last Updated: 19:41:10
Delayed by 15 minutes
Share Name Share Symbol Market Type
Logan Energy Corp TSXV:LGN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.02 -2.78% 0.70 0.70 0.71 0.73 0.70 0.73 124,016 19:41:10

Legend Gold Announces Completion of Gravity Survey in Mali

15/01/2014 12:28pm

Marketwired Canada


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Legend Gold Corp.
Douglas Perkins
President and Chief Executive Officer
(604) 669 0660 or Mobile: (514) 806 6788
dperkins@legendgold.com
www.legendgold.com

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