"claims cover approximaately 179sqkm."Linux Gold Corp. Receives New Technical Report on the Granite Mountain Property in Western Alaska
Mar 17, 2008 9:30:00 AM
Copyright Business Wire 2008
View Additional ProfilesVANCOUVER--(BUSINESS WIRE)--
Linux Gold Corp. (OTCBB:LNXGF) John Robertson, President of Linux Gold Corp., is pleased to announce that a new 43-101 technical report, for the Granite Mountain Property in western Alaska, and the consent of the author of the report, was filed February 7, 2008 on SEDAR (www.sedar.com).
The Granite Mountain property consists of 276 State of Alaska MTRSC quarter-section mining claims (160 acres each), within seven contiguous claim blocks, recorded in the Cape Nome Recording District. These claims cover approximately 179sqkm. The property is located in western, Alaska, at the east edge of the Seward Peninsula, approximately 240km east-northeast of Nome, and approximately 640 km west of Fairbanks.
The report's author proposes that further exploration on the Property be conducted in two phases. These phases include a surface exploration program (Phase 1, estimated $504,064 CAN$), and, contingent on encouraging results, a follow-up exploration drilling program (Phase 2, estimated 325,238 CAN$). The total estimated cost of the proposed programs is $829,302 (CAN$).
Phase 1
Surface exploration program which includes rock sampling and geologic mapping of the known prospects, grid base auger drilling, soil sampling, trenching and rock chip sampling, airborne geophysical survey and additional ground geophysical surveys.
Phase 2
Conduct a 6 hole diamond drill program of 3,600 ft (1,097 meters) to test several known mineralized areas and newly discovered drill targets from the Phase 1 surface exploration program.
The full 43-101 technical report can be viewed at:
https://www.linuxgoldcorp.com/gm0643101feb2008.pdf
It is also available on the Company's website at www.linuxgoldcorp.com.
Mineralization:
Polymetallic mineralization within the Granite Mountain property occurs at numerous locations on the property and in several distinct styles. Extremely limited outcrop exposures have made it difficult to assess the surface extent of mineralization at these locations. Most significant lode and placer occurrences known to date are located on the western portion of the Granite Mountain property, within a broad north-northwest trending mineralization-alteration zone known as the "Kiwalik trend". In the late 1960's, USGS geologists first recognized this zone as being spatially associated with the Quartz Creek Pluton and several northwest trending fault structures. Alteration which defines this zone includes widespread propylitic alteration of volcanic rocks and local intense quartz-sericite, carbonate and tourmaline alteration. Polymetallic mineralization, found on the eastern portion of the Granite Mountain property, associated with the Peace River Stock, has a slightly different style and geochemical signature.
The report's author, Mr. David Adams, is a Qualified Person as defined by National Instrument 43-101. He is a Certified Professional Geologist (American Institute of Professional Geologists #7586), and a member of the Society of Economic Geologists, the Association for Mineral Exploration in B.C, the Alaska Miners Association and the Geological Society of America.
ABOUT LINUX GOLD CORP:
Linux Gold Corp. is involved in exploration of mineral properties. Our current plans are to joint venture and explore our mineral properties in Northern B.C., Alaska and China. Linux Gold Corp. owns 284 State of Alaska mining claims at several locations near Granite Mountain on the eastern Seward Peninsula of Alaska. The Company has acquired a 100% interest in the TY and ORO properties in B.C. Linux Gold Corp. also owns a 50% interest in 30 mineral claims known as the Fish Creek Prospect, located in the Fairbanks Mining Division in Alaska. Linux Gold Corp. optioned a 50% interest in the Fish Creek claims to Teryl Resources Corp. (TRC-V), retaining a 5% net smelter return or may convert into a 25% working interest. Linux has also staked mineral exploration claims covering 6,400 acres in the Livengood-Tolovana Mining District, in the State of Alaska.
For more information please visit www.linuxgoldcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"John Robertson"
President