Levon Completes 2017 Infill Core Drilling Aimed At Improving Modeled Starter Pit Economic Projections
Levon Resources Ltd. (“Levon” or “the Company”) (TSX Symbol: LVN; OTCQX: LVNVF) Levon is pleased to announce the completion of the core drilling campaign at the Cordero Ag, Zn, Pb, Au discovery, 35 km north of Hidalgo Del Parral, Chihuahua, Mexico, previously announced by the Company on May 15, 2017. Complete hole assays are pending and will be reported when the assays are received. A total of 5,655m of core in 18 infill core holes were drilled within the central part of the 2014 Cordero resource (the “Resource”) (news release of May 15, 2017).
The 2017 holes were drilled to test for near surface, higher gold grades within multiple rhyolite intrusives that make up the volcanic Cordero Felsic Dome Complex, and higher grade mineralization in contact breccia bodies that could improve a starter open pit configuration in the southwest part of the Resource.
A starter pit scenario is being designed and evaluated by Independent Mining Consultants (IMC) of Tucson, Arizona. The modeled pit and 2017 drilling is centered in the southwest third of the Resource, and includes higher grade Ag, Zn, Pb and a by-product Au zone within the Pozo de Plata Diatreme.
The 2017 drilling tested more of the Cordero Dome, and filled in a drilling gap between the Diatreme and the Cordero Dome that hosts this part of the Resource, and holds potential for at surface and shallow high grade Ag, Pb, Zn mineralization and by-product Au mineralization untested in the past (Figure 1). Geologic core logging confirms the mineralization for which the assays are pending.
Figure 1: 2017 infill drill holes in the central part of the Cordero Resource to test for improved grade and near surface Au.
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 on the Company’s website www.levon.com and under the Company’s 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
President and Chief Executive Officer
Neither the Toronto Stock Exchange (“TSX”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” and “forward-looking statements” (together, the “forward looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including our belief as to the extent and timing of various studies including the PEA, and exploration results, the potential tonnage, grades and content of deposits, timing and establishment and extent of resources estimates. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements