Levon Starts the 2017 Cordero Resource Infill Drilling Campaign to Begin Testing for Improved, Near Surface Grades of Ag, Zn, Pb, Au and the Youngest Rhyolites for Au
Levon Resources Ltd. (“Levon” or “the Company”) (TSX Symbol: LVN; OTCQX: LVNVF) Levon is pleased to announce the startup of the 5,000 m core drilling campaign at the Cordero Ag, Zn, Pb, Au discovery, 35 km north of Hildalgo Del Parral, Chihuahua, Mexico, previously announced by the Company on April 4, 2017. 200 m core holes are planned to infill drill a central part of the 2014 resource, (news release of October 20, 2014) to explore for improved near surface resource grades. The holes are being drilled in the Cordero Felsic Dome Complex (central) portion of the resource that spans four host igneous intrusive centers (Figure 1). If the drilling is successful, results can improve the projected economics of a starter open pit being evaluated by Independent Mining Consultants (IMC), Tucson, Arizona.
Current detailed geologic surface mapping in 2016 and 2017, and past drill results reveal abundant multiple intrusives within the Cordero Felsic Dome Complex that range from several meters (m) to 150 m in diameter, and the intrusives are generally enclosed in high grade, mineralized contact breccias that were often missed by the wider spaced resource grid drilling. Infill drilling is planned at 50 to 75 m centers in angle holes in targeted clustered intrusive areas to test for improved bulk tonnage grades.
A 3D reevaluation of all existing project data, and current geologic mapping reveals that the youngest intrusives within the Cordero Dome and the adjoining Pozo de Plata Diatreme, are silicified rhyolites that host the best gold in the resource. Best gold values of the resource to date are in the Pozo de Plata Diatreme. A 0.07 g/t Au shell within the resource extends from the Diatreme up into the Cordero Dome through the youngest silicified and veined rhyolite domes that form the highest peaks in the Cordero Dome Complex. The youngest rhyolites have not been drill tested for Au to date. About 50% of the planned 2017 drilling is aimed at starting to test the youngest rhyolite domes of the Cordero Felsic Dome Complex for Au.
Figure 1: 2017 planned 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.