Blackfox Property Summer Program Update
As previously reported, the discovery of high grade gold float near the centre of the Blackfox Property, sampled and assayed by the Ontario Ministry of Northern Development and Mines ("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.
The initial phase of exploration completed between fall 2008 and spring 2009 comprised detailed geological and geochemical sampling and mapping, prospecting, line-cutting and detailed ground magnetic surveying. In total, 2,618 soil and 421 rock samples were collected and 52 line kilometers of ground magnetics were completed. Initial gold results confirmed the existence of gold-in-soil anomalies (up to 1,260 ppb Au) within the Blackfox Property. Rock samples collected at the property contain up to 3 g/t Au from the Fire Mountain showing/area.
A northeast trending sequence of folded and faulted mafic-felsic volcanic, sedimentary and intrusive rocks occur to the north of Black Fox Lake. Soil anomalies within this area returned results of up to 1,260 ppb Au. Nearby, six of twelve soil samples collected across a belt of mafic volcanic rocks returned results ranging from between 50 and 90 ppb Au. The Blackfox soil anomaly occurs within an area of complex structural geology that includes northeast trending faults and isoclinal folds that have been overprinted by late northwest-southeast trending folds, faults and diabase dykes. The results of a 1999 Ontario Geological Survey helicopter-borne geophysical survey reveal the area is coincident with northeast trending conductive and northwest trending magnetic anomalies.
Based on the presence of favourable geology and coincident conductive, magnetic and gold-in-soil anomalies, Lund considers the Blackfox anomaly a high priority for follow-up. The summer 2010 exploration program will include prospecting, rock geochemical sampling and geologic mapping to determine the source of the soil anomaly and identify the geologic and structural controls of mineralization.
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.
"Chet Idziszek"
Chet Idziszek,
President
NEITHER 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.
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Winter Don-Don Drilling Program Results
Seven geophysical lines at 400 metre spacing tested a 2.8 km strike extent of the property which is underlain by prospective Triassic-Jurassic Takla volcanic sequence along this portion of the Pinchi fault. Drilling tested two NW-SE trending 2.8 km long open-ended geophysical anomalies (magnetics and IP) which cross the property. A third geophysical anomaly located further south was not tested. No previous drilling has been recorded in this thick glacial debris covered area.
The best results came from drill hole #2 which tested the northern open-ended NW-SE trending moderate IP and magnetic geophysical anomaly located near the northern claim boundary. Based on this drilling the anomaly is underlain by magnetic, variably altered and pyritic volcanic rocks of the prospective Triassic-Jurassic Takla sequence.
Results from drill hole #2 were extremely interesting, showing anomalous copper and gold results over the entire hole. Local one metre intervals, having 200-250 ppb gold and 0.2-0.37% copper, occur mainly in the upper 100 metres with an 80 metre interval (20 to 100 metres) averaging 80 ppb gold and 0.1% copper including an upper thirteen metres at 135 ppb gold and 0.13% copper. This hole was not completed to depth due to drilling problems. Also, as this drill hole was collared into mineralization at surface, additional close spaced (100 m) geophysical surveying and drill testing will be required to further evaluate and define the full extent of this immediate mineralized area.
At the Company's Blackfox property in Ontario, the follow-up exploration program in the second half of 2009 confirmed that no further exploration is warranted at this time. Further, Lund is seeking additional quality gold/copper projects.
Fieldwork was carried out under the supervision of Gerald McArthur, P. Geo., a "qualified person" for the purposes of National Instrument 43-101, who has verified the data disclosed in this news release.
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.
"Chet Idziszek"
Chet Idziszek,
President
NEITHER 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.
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Fall Don-Don Drilling Program Completed
Geophysical contractor, Peter Walcott & Assoc., completed 24 line km of IP and magnetic geophysical surveys. These were performed on two separate strong airborne geophysical anomalies. The ground geophysics outlined three northwest trending sub parallel zones of anomalous chargeability/ resistivity and magnetic response. Two of these anomalies were chosen to be drill tested.
Falcon commenced drilling mid November. The central geophysical anomaly, which had the highest IP chargeability / resistivity results, was chosen for the first drill hole. Drilling intersected sheared, strongly quartz-carbonate veined graphitic argillite containing minor interbedded pyritic tuffaceous intervals. The lithologies and pyrite intersected in drilling appears to explain the source of the geophysical results while the amount of quartz-carbonate veining is positive.
The remaining three holes tested the eastern zone of anomalous IP chargeability and magnetic response at two different grid locations 400 metres apart. These drill holes intersected weak to moderately propylitic (epidote-chlorite-carbonate) altered and strongly quartz-carbonate veined mafic volcanics believed to be part of the prospective Triassic-Jurassic Takla volcanics sequence. Encouraging potassic alteration is accompanied locally by pyrite and magnetite. The geophysical results appear to be somewhat explained by the increased amounts of sulphides and the stronger alteration encountered.
Altered and mineralized drill core samples are being split and sent to ISO/certified TSL Laboratories of Saskatoon, Saskatchewan, for gold, copper and multi element ICP analysis. Analytical results are pending.
Fieldwork was carried out under the supervision of Gerald McArthur, P. Geo., a "qualified person" for the purposes of National Instrument 43-101, who has verified the data disclosed in this news release.
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.
"Chet Idziszek"
Chet Idziszek,
President
NEITHER 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.
Drilling Crew Mobilized To Don-Don Property
The Company has the right to acquire a 100 per cent interest in this project, under the terms of an option agreement the terms of which are set out in our news release of September 17, 2009.
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.
"Chet Idziszek"
Chet Idziszek,
President
NEITHER 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.
Lund Starts Exploration At Don-Don Project
A large northwest trending, coincident airborne magnetic and ground induced polarization (IP) geophysical anomaly on Amarc's adjacent Pinchi project property has been targeted in their recent drill program. This prominent geophysical target coincides with a portion of the Pinchi Fault where intrusive phases of the Hogem Batholith have been found to host copper-gold mineralization. Approximately 600 metres of this coincident I.P. chargeability/magnetic anomaly appears to be open to depth to the southwest, potentially extending onto the northern portion of the Don-Don property. A second, nearby sub parallel northwest trending magnetic anomaly, which may represent a slice of the Hogem intrusive rocks has also been identified.
In addition, Lund has contracted Kit Campbell of Intrepid geophysics to complete a review of the available public, regional geophysical, geochemical and remote sensing data for the area. Five EM anomalies were identified to occur within an overall anomalously (20 by 10 kilometre) conductive zone within the central and southern portion of the Don-Don property. Higher resolution aeromagnetic data has also identified a number of linear features, possibly related to structures or lithological contacts and smaller, possibly intrusive related, magnetic signatures.
The above anomalies constitute the first generation of exploration targets to be evaluated. Lund's initial exploration program, now underway, will consist of 20 kilometres of line cutting, induced polarization (IP) and ground magnetic surveys followed by at least 1,000 metres of diamond drilling.
Prospective rocks of the Quesnel Trough cut through central British Columbia from the U.S. border north to the Stikine River and host most of the province's producing copper mines and advanced deposits. This 2,000-km-long belt is known as a prime exploration ground for alkalic copper-gold-silver deposits and calc-alkaline porphyry copper-molybdenum deposits, but is also prospective for other mineral deposit types. The diverse mineral potential and new mineral discoveries within the Quesnel Trough have made it attractive for exploration and Lund is pleased to be active in British Columbia's most productive mineral belt.
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.
"Chet Idziszek"
Chet Idziszek,
President
NEITHER 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.