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Levshares 3X Nvidia Etp LVNVF


Primary Symbol: LVNNF



GREY:LVNNF - Post by User

Post by Baymanon Apr 04, 2017 9:23am
414 Views
Post# 26072218

News -more drilling

News -more drillingLevon to Complete Resource Infill Drilling to Test a Starter Pit Scenario Levon Resources Ltd. ("Levon" or the "Company") (TSX Symbol: LVN; OTCQX: LVNVF) announces that it plans 5,000m (28 core holes) in close spaced, infill drilling within the Cordero Felsic Dome portion of the 2014 Cordero resource (the 2014 Resource), to test for near surface, high grade mineralization within the modeled open pit containing the 2014 Resource, calculated by Independent Mining Consultants (IMC) (news release of October 20, 2014) (Figure 1). Preparations for the drill program are being completed for an April 2017 start up. In mid-2013, Levon acquired the 16 hectare Aida claim in the centre of the 2012 Cordero resource (news release of July 10, 2013) and grid drilled the claim. IMC then updated the 2012 Cordero resource to include the Aida drill results and produce the 2014 Resource. The 2014 Resource has yet to be delineated by drilling and is open to expansion around most of its perimeter, (Figure 1) and at a depth within the modeled pit (news release of September 3, 2014). In the face of low metal prices, Levon contracted IMC to study the possibility of the existence of a smaller starter pit within the 2014 Resource. IMC modeled several possible starter open pits. Aida drill results in a central portion of the mineralized Cordero Felsic Dome, document that the resource is exposed at surface and a higher grade feeder zone was intersected by the drilling (news release of February 26, 2014). With these drill results, and additional detailed geological mapping performed by Levon in 2016, together with the IMC starter pit modeling, the Company has designed infill drilling within the 2014 Resource to test for near surface higher grade material to improve a possible starter pit scenario, and further improve the stripping ratio by turning undrilled areas modelled as waste into resource. (Figure 1). Once the 2017 drilling is complete, the 2014 Resource will be updated and in turn IMC will prepare a Preliminary Economic Assessment (PEA) for the project, building on the 2012 PEA written before Levon purchased and drilled the Aida claim, which only accessed 30% of the modelled resource at that time. Levon 1 Figure 1: Cordero 2017 Planned Core Drilling About Levon Resources Ltd. Levon is a well-funded gold and precious metals exploration Company, exploring the company's 100% owned flagship Cordero bulk tonnage silver, gold, zinc, and lead project near Hidalgo Del Parral, Chihuahua, Mexico. Cordero hosts a world class Silver, Zinc, Lead, and Gold resource with indicated resources of 488.5 million ounces of Silver, 9.0 billion pounds of Zinc, 4.7 billion pounds of Lead, and 1.37 million ounces of Gold. Levon's most recent mineral resource estimate is contained in a technical report prepared by IMC titled Cordero Project September 2014 Mineral Resource Update, Chihuahua, Mexico dated October 15, 2014, which was filed under the Companys profile at www.sedar.com. Vic Chevillon, AIPG QPG # 11054, the Company's VP Exploration and a qualified person as such term is defined in NI 43-101 of the Canadian Securities Administrators, has reviewed and approved this news release. For further information, contact the Company IR Direct at 604-682-2991, or main office number 778-379-0040. ON BEHALF OF THE BOARD "Ron Tremblay"
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