Levon Resources Ltd (New) V.LVN

News - more drill results

[nexuss24]

March 31, 2011
LEVON EXPANDS BOTH DISCOVERY ZONES AT CORDERO PROJECT, MEXICO: 112 METRES GRADING 49.4 G/T SILVER, 0.07G/T GOLD, 1.9% ZINC & 1.1% LEAD IN HOLE C11-118 AT JOSEFINA


Levon Resources Ltd. ("Levon", or the "Company") (TSXV Symbol LVN.V) is pleased to announce additional results from the ongoing Phase 3 exploration and drill program currently underway at the Company's 100% owned Cordero bulk tonnage silver, gold, zinc and lead project located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico. Drill results include additional wide bulk tonnage intercepts from the Porphyry Zone that extends the footprint by 200 metres to the northeast (C11-107) and the discovery of a new near surface zone at the south end of the Zone (C11-139). At Pozo de Plata Diatreme additional bulk tonnage intercepts, starting at surface, were encountered in the southerly extension of the Zone which remains open. Higher grade results at the Josefina zone in hole C11-118 (112 metre at 49.4 g/t silver, 0.07 g/t gold, 1.9% zinc and 1.1% lead) correlate well with excellent results previously announced in hole C11-105.
Tables 1a to 1d summarize the latest drill results. Silver equivalent definitions are presented at the end of this release. Table 2 summarizes the drill hole locations and Figure 1 illustrates the locations.
Josefina Mine Zone
The Josefina Mine Zone (Josefina) is located east of the Pozo de Plata Diatreme discovery and extends for 800 metres northeast towards the Porphyry zone. The Josefina has been tested by a number of holes including wide intercepts in hole C11-105 (see news release dated March 17, 2011) Hole C11-118 collared 200 metres northwest of hole C11-105 encountered several well mineralized, long intervals below 54 m with the highest grade intercept of 112 metres of grading 49.4 g/t silver, 0.07 g/t gold, 1.9% zinc and 1.1% lead beginning at 344 metres depth. Mineralization in C11-118 is Porphyry zone-style and illustrates the transitional nature of the Josefina Zone which contains both diatreme hosted and porphyry hosted mineralization. Hole C11-110 collared 125 metres southwest of hole C11-118 also intercepted multiple intervals of mineralization including a 126 metre run starting at 66 metres that returned 30.7 g/t silver, 0.10 g/t gold, 0.31% zinc and 0.24% lead.
Table 1a: Josefina Zone Drill Results
1.10
Hole
from (m)
To (m)
length (m)
Ag (g/T)
Au (g/T)
Zn %
Pb %
Ag Eq (g/T)
C11-110
66
192
126
30.7
0.103
0.31
0.24
53.5
C11-110
268
292
24
11.5
0.013
0.91
0.28
47.3
C11-110
332
370
38
72.1
0.072
2.20
1.39
181.8
C11-110
464
508
44
25.2
0.036
0.61
0.50
59.9
C11-111
No significant assays





C11-112
54
84
30
160.1
0.023
0.95
0.66
208.4
C11-114
66
96
30
14.8
0.110
0.41
0.13
38.1
C11-114
202
214
12
36.7
0.057
0.56
0.36
67.1
C11-116
No significant assays





C11-117
No significant assays





C11-118
72
118
46
11.9
0.043
0.31
0.09
26.4
C11-118
176
324
148
34.8
0.090
1.33
0.59
97.1
C11-118
344
456
112
49.4
0.071
1.92
142.2
C11-119
No significant assays





C11-120
No significant assays





C11-121
220
240
20
5.9
0.022
0.63
0.16
30.3
Pozo de Plata Diatreme Zone
Seven step-out holes were drilled to extend the southern and westerly limits of the Pozo de Plata Diatreme Zone. Five of these holes encountered well mineralized diatreme breccia from surface to down hole depths of from 34 to 132 metres. The best hole is C11-124, that was collared near previous hole C09-02, and that returned 38.7 g/t silver, 0.17 g/t gold, 0.29% zinc and 0.36% lead. The Pozo de Plata zone remains open to the west and to the south.
Table 1b: Pozo de Plata Zone Drill Results
Hole
from (m)
to (m)
length (m)
Ag (g/T)
Au (g/T)
Zn %
Pb %
Ag Eq (g/T)
C11-104
30
42
12
41.7
0.081
1.11
0.59
96.5
C11-104
174
216
42
41.9
0.163
0.62
0.64
89.6
C11-104
328
336
8
160.9
0.067
3.16
1.66
306.1
C11-124
0
132
132
38.7
0.166
0.29
0.36
68.8
C11-125
0
34
34
31.2
0.236
0.18
0.17
57.4
C11-126
0
42
42
49.9
0.274
0.54
0.40
95.6
C11-126
66
98
32
53.9
0.063
0.28
0.68
86.2
C11-128
0
62
62
23.6
0.355
0.15
0.21
57.9
C11-133
No significant assays





C11-134
No significant assays





C11-135
14
38
24
32.3
0.058
0.46
0.37
60.5
Cordero Porphyry Zone
The Cordero Porphyry Zone is located 1,500 metres east of the Pozo de Plata Diatreme Zone and comprises a number of mineralized centres within a north south corridor, over a large area now 1,200 metres by 800 metres. Ongoing drilling at the northern end of the zone continues to block out an area of enhanced mineralization. Hole C11-107 encountered several intervals including a run starting at 426 metres that returned 82 metres of 18.8 g/t silver, 0.03 g/t gold, 1.20% zinc and 0.08% lead. This hole represents a 200 metre extension of the Porphyry zone to the east. Hole C11-115 located an additional 200 metres north of hole C11-107 encountered two minor intervals at depth that may indicate a further extension of the zone in that direction. Two holes in central part of the Porphyry zone, C11-113 and C11-123, returned multiple mineralized intervals including one intercept in hole C11-113 of 108 metres of 44.9 g/t silver, 0.04 g/t gold, 1.86% zinc and 0.65% lead starting at 280 metres depth.
Farther south in the Porphyry zone, some 400 metres from hole C11-113, a new near surface zone was discovered in hole C11-139 that returned in part 74 metres of 52.0 g/t silver, 0.05 g/t gold, 1.73% zinc and 1.09% lead beginning at a depth of 2 metres.. Mineralization is hosted by high grade crackle breccias in dacite porphyry and disseminated and stockwork mineralization at depth.
Table 1c: Porphyry Zone Drill Results
Hole
from (m)
to (m)
length (m)
Ag (g/T)
Au (g/T)
Zn %
Pb %
Ag Eq (g/T)
C10-91
124
136
12
21.2
0.390
0.17
0.14
56.2
C10-92
602
620
18
18.8
0.022
1.11
0.10
55.6
C10-92
676
694
18
7.3
0.004
0.96
0.06
37.4
C10-92
732
744
12
21.9
0.015
1.78
0.10
77.8
C11-107
28
124
96
13.5
0.021
0.32
0.18
29.6
C11-107
242
378
136
14.6
0.031
0.51
0.20
37.4
C11-107
426
508
82
18.8
0.026
1.20
0.08
57.8
C11-113
98
118
20
15.0
0.013
0.48
0.23
36.7
C11-113
280
388
108
44.9
0.040
1.86
0.65
120.9
C11-113
416
434
18
47.2
0.048
0.46
0.35
74.0
C11-113
524
538
14
27.7
0.036
1.30
0.17
73.0
C11-113
668
696
28
13.4
0.011
0.41
0.19
31.7
C11-115
210
246
36
17.3
0.099
0.13
0.08
30.0
C11-115
520
574
54
17.7
0.011
0.58
0.23
42.2
C11-122
No significant assays





C11-123
20
74
54
36.1
0.109
0.89
0.17
74.5
C11-123
510
568
58
19.3
0.024
0.17
0.10
28.9
C11-139
2
76
74
52.0
0.052
1.73
1.09
137.9
C11-139
102
110
8
145.9
0.155
4.94
1.81
353.2
C11-139
220
288
68
12.7
0.021
0.39
0.20
31.2
C11-139
396
408
12
17.9
0.017
0.37
0.26
37.2
Discussion of Results
Ongoing Phase 3 drilling at the Cordero project continues to expand both discovery zones, which now appear to be connecting up in a southern corridor of mineralization. The original discovery at Pozo de Plata Diatreme remains open to the south and west where new intercepts reported here, over an area of 300 metres by 160 metres, encountered, from surface, diatreme hosted mineralization. To the east, the Porphyry zone is a loosely defined area wherein mineralization is hosted by high-level stocks and related breccias and contact hornfels-altered zones where mineralization is comprised of disseminated, stockwork and vein controlled sphalerite and galena. Results from the porphyry zone presented herein have expanded the zone by an additional 200 metres to the northeast In addition a new surface zone was discovered in hole C11-113 near the central part of the Porphyry zone, and in C11-139 near the present sourtheast part of the zone. The intermediary Josefina Zone is a transitional area between the Pozo de Plata Diatreme and Porphyry Zones, and hosts mineralization with the character of both areas. Drilling continues to expand this zone to the east, west and at depth.
IMC Engineering of Tucson, Arizona is engaged in preparing an initial 43-101 resource calculation in companion with M3 Engineering of Tucson, Arizona who has initiated metallurgical testing and the engineering studies required for a 43-101 preliminary economic assessment (PEA) of Cordero.
"We continue to be pleased with the steady Phase 3 discovery expansion drilling atCordero now that we haveconsolidated our 100 % ownership in the project with the acquisition of our joint venture partner after 25 months of exploration as summarized in our March 25, 2011 news release" comments Ron Tremblay, President, CEO, Levon. "We are entering a significant new stage at Cordero".
"Geologic mapping and soils sampling grids (1,200 samples in three exploration grids) are underway mostly as surface follow up on the just returned 3D IP survey inversion results by SJ Geophisics reported previously. The 3D IP inversions show subsurface chargebility anomalies that appear to be extensions north, south and east of the presently defined Cordero Porphyry Zone and northwest from the Pozo de Plata Diatreme Zone. Our goal is to prioritize areas for drill testing. The geologic mapping so far confirms exposed, iron stained diatreme breccias 300 m south of the Josefina zone, but only exposed in float and sparce outcrop in an area of mostly cow pasture and cornfields. This is well south of the axis of the Cordero Porphyry Belt where we have been focusing exploration to date" explains Vic Chevillon, VP Exploration, Director, Levon. "We named the area Pastora del Sur several weeks ago and the detailed mapping results over the last several days tends to confirm initial diatreme projections."
QA/QC Procedures
All drill holes are started with HQ diameter core and then when necessary reduced to NQ diameter core depending on drilling conditions. The drill core is sawed through its length and samples collected in continuous two-metre intervals. All drill intercepts reported are core lengths and not true widths, which are unknown. All of the samples are prepared and analyzed by ALS Chemex at its labs in Chihuahua, Mexico, and Vancouver, Canada respectively. Gold analyses are being performed by 30-gram fire assay with an atomic absorption finish. Silver, zinc and lead were analyzed as part of a multi-element inductively coupled argon plasma ("ICP") package using a four-acid digestion with over-limit results being reanalyzed with assay procedures using ICP-AES. The company employs a rigorous quality assurance and quality control program that include standardized material, blanks and duplicates. AMEC Americas Ltd. has designed the QAQC protocol from a study and review of information provided by the Joint Venture to AMEC. Independent Mining Consultants (IMC), Tucson, Arizona reviews the QA/QC data.
The project is under the direct supervision of Vic Chevillon, MA, CPG, Vice President of Exploration for Levon who is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for this News Release.
* Silver equivalent grade, based on assumed recoveries, is calculated using the following metal prices: silver at $15 per ounce, gold at $1,000 per ounce, zinc at 90 cents per pound, lead at 90 cents per pound and assumed recoveries (metallurgical and smelter deductions) of 70% for silver and gold and 50% for zinc and lead. Actual metal recoveries have not been determined. Summary assay intervals as reported above were selected based on a 22.64 g/T Ag equivalent cut-off over significant widths that by inspection show geochemical consistency down the hole among the 2 m sample intervals.
Table 2. Reported drill hole locations (UTM Conus Nad 72, Zone 13).
Hole
East
North
Elevation
Length
Azimuth
Dip
C10-91
443618
3014109
1589
659.9
0
-90
C10-92
443558
3015101
1591
936.6
0
-90
C11-104
442806
3014151
1586
497.0
180
-60
C11-107
443678
3015306
1603
867.3
0
-60
C11-110
443080
3014311
1623
541.7
180
-60
C11-111
442814
3014144
1584
502.8
90
-60
C11-112
443075
3013845
1578
500.2
0
-60
C11-113
443433
3014768
1598
909.3
0
-90
C11-114
443080
3014312
1623
414.7
0
-90
C11-115
443698
3015500
1609
969.5
0
-90
C11-116
443201
3013856
1573
524.5
0
-90
C11-117
443073
3013842
1578
496.9
0
-90
C11-118
443200
3014350
1624
455.5
0
-90
C11-119
443201
3013858
1573
495.8
0
-60
C11-120
443073
3013841
1578
490.2
180
-60
C11-121
443203
3013851
1573
452.0
180
-60
C11-122
443811
3015110
1586
488.9
0
-90
C11-123
443374
3014870
1605
646.5
0
-90
C11-124
442341
3013754
1564
191.5
0
-90
C11-125
442342
3013865
1570
131.3
0
-90
C11-126
442341
3013754
1564
254.2
180
-60
C11-128
442342
3013861
1568
189.6
0
-60
C11-133
442359
3013997
1555
35.1
0
-60
C11-134
442374
3014046
1560
130.4
0
-60
C11-135
442374
3014051
1561
118.9
0
-90
C11-139
443809
3014526
1559
448.1
345
-60
About Levon Resources Ltd.:
Levon is a junior gold and precious metals exploration company exploring the Cordero silver, gold, zinc and lead project near Hidalgo Del Parral, Chihuahua, Mexico. The Norma Sass and Ruf claims located near the Pipeline gold deposit, which is being mined and explored by Barrick Gold Corporation in the heart of the Cortez Gold Trend in Lander County, Nevada, USA. The Company also holds key land positions at Congress, BRX, and Wayside in the productive Bralorne Gold camp of British Columbia, Canada.
For further information contact Levon Resources Ltd. at [phone], or log onto our website www.levon.com.
LEVON RESOURCES LTD.
"Ron Tremblay"
______________________________
Ron Tremblay
President and CEO