February 9, 2012
Logan Resources Ltd. (TSX-V: LGR) (“Logan”) is pleased to announce the successful completion of its 2011 exploration program on the Chuchi Property, located in the Nation Lakes region of central British Columbia, Canada. Several anomalous areas, some worthy of follow up diamond drilling, were identified as a result of a multi-faceted program that consisted of the collection of 1,319 soil and 61 rock samples, in addition to a 43.9 line-km Induced Polarity (“IP”) and Resistivity (“Res”) survey, as well as geological mapping and reconnaissance scale prospecting. This exploration program was carried out by Equity Exploration Consultants Ltd. of Vancouver, BC.
Geochemical and geophysical surveys in 2011 resulted in the identification of several areas of interest defined by moderate to high chargeabilities coincident with high resistivities, anomalous soil geochemistry and prospective underlying geology. The most intriguing of these is centered over an intrusion that returned consistently anomalous gold in rock samples of up to 0.794 g/t. Outcrops of this intrusion are coincident with a 1,300 m x 400 m copper-gold soil anomaly that returned gold values of up to 1.33 g/t.
Soil samples were collected at 50 m intervals from the same north-south oriented grid with 250 m spaced lines that were used for the 2011 IP/Res survey. Samples were collected by hand-auger or mattock from the red-brown “B” soil horizon where possible. All samples were sent to ALS Minerals Laboratories in North Vancouver, BC, an ISO 9001:2008 accredited facility, which is independent of Logan Resources. Both rock and soil samples were analysed for 35 elements by inductively coupled plasma atomic emission spectroscopy (ICP-AES). Gold values were determined using fire assay-atomic absorption spectroscopy. Blank and duplicate samples were inserted into each batch shipped from the field as part of Logan’s Quality Assurance / Quality Control program.
All of the data collected to date are currently being reviewed in order to develop the details of the next stage of exploration and, specifically, to determine if follow-up diamond drilling is warranted.
The Chuchi Property is located roughly 75 kilometres (km) northwest of Fort St. James, BC and is accessible by well-maintained forest service roads. The property lies within the Nation Lakes copper-gold camp that contains notable areas of mineralization such as the Lorraine and Kwanika deposits, 100 km and 55 km to the northwest respectively, as well as the Mt. Milligan deposit, 40 km to the east. Previous work in the area has identified a large alteration halo of propylitic and potassic alteration with scattered copper-gold mineralization.
Additional information on the Chuchi Property can be found on the Logan website at: http://www.loganresources.ca/index.php/chuchi
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. Logan has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and Logan, please visit www.loganresources.ca.
Adrian Bray, P.Geo., Director of Logan and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release. Mr. Bray has verified the data disclosed herein, including sampling, analytical and test data underlying the disclosed information. Mr. Bray has verified that the results were accurate from the official assay certificates provided to Logan.
About Equity Exploration Consultants Ltd.
Equity Exploration Consultants Ltd. is a private, Canadian company focused on providing high quality consulting and project management services to the mineral exploration industry. The company’s core strength is its full-time staff of 14 expert geologists and support team members, in addition to a wide network of associates, who have worked to maximize exploration success for its clients since 1987.
LOGAN RESOURCES LTD.
On behalf of the Board
President & CEO
For further information regarding this press release, please contact:
Konstantine Tsakumis, Investor Relations
T: 604-681-8030 x 232
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the exploration potential of the Chuchi Property are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Logan undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
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