| ||May 21, 2009|
Blackfox Property Update - Phase 1 Exploration
| ||VANCOUVER, BRITISH COLUMBIA, May 21, 2009 (Marketwire via COMTEX) - Lund Gold Ltd. (LGD) ("Lund") is pleased to report that the Phase 1 Exploration at the Blackfox Property in Northern Ontario is complete. The Property is located approx. 225km east of Thunder Bay and approx. 70km west of the Hemlo Gold Deposit. The Property lies within an extension of the Schreiber-Hemlo Greenstone Belt which is host to the 25 million ounce Hemlo Gold Deposit.|
The Phase 1 Exploration comprised detailed geological and geochemical sampling and mapping, prospecting, line-cutting and detailed ground magnetic surveying. In total, 2116 soil and 320 rock samples were collected and 52 line kilometres of ground magnetics were completed.
Initial gold results from the Phase 1 reconnaissance sampling program show that gold in soil anomalies (up to 1260 ppb Au) exist within the Property and six areas warrant follow-up exploration. As well, at least two anomalous areas have coincident magnetic features based on the ground geophysical survey. Rock samples collected at the Property contain up to 2 g/t Au from the Fire Mountain Showing/area. There is minimal outcrop exposed throughout the Property. The discovery of high grade gold float near the centre of the Blackfox Property, sampled and assayed by the Ontario MNDM office in Thunder Bay returned consistent results ranging from 165 to 189 g/t gold. The hydrothermally altered float samples (silica, sericite and iron carbonate with pyrite) consisted of fragile angular blocks that are assumed proximal to their source location.
Samples were analyzed at TSL Laboratories, Saskatoon, Saskatchewan. The samples were analyzed for gold and multi-element geochemistry. TSL is ISO17025 certified.
A follow-up program is planned for early June 2009 to follow-up anomalous gold in rocks and soil samples.
The 2008 exploration was completed under the direction of Mr. Dean Besserer, P.Geol., APEX Geoscience Ltd., of Edmonton, Alberta, who is a qualified person as defined in National Instrument 43-101.
To find out more about Lund Gold Ltd. (TSX-V: LGD), visit our website at www.lundgold.com.
On behalf of the Board of Directors of
LUND GOLD LTD.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.
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