Deep drilling on the Fäboliden gold deposit indicates the gold
bearing zone under the entire open pit position to at least 550 m
depth.
Lappland Goldminers AB embarked on a deep drilling program in August
2006 at the Fäboliden gold deposit to determine the extent of gold
mineralization at depth for a potential underground mine. As of today
35 drill holes amounting to 18 600 m have been drilled of a 38
diamond drill hole program on eleven (11) profiles along the current
ore body. The assay results from drill holes confirm that the gold
mineralized zone is present under the entire 1,350 m length of the
proposed open pit and to a depth of more than 550 m below the
surface.
The following table shows results from profile 100N.
See attachment
Our present information indicates that the ore zone plunges about 45°
in a northerly and southerly direction, which indicates that further
deeper resources can be expected in these directions. It is also
interpreted that the gold grade decreased with depth in profile 100N
from approximately 350 m
The deep drilling program is now in a final stage and some infill
drilling will be concluded in August. Final assays will approximately
take another two months to obtain before an "Indicated Resource"
estimate for Fäboliden gold deposit can be determined for a potential
underground operation.
For more information abut the Fäboliden project se our website:
www.lapplandgoldminers.com.
About Fäboliden
Fäboliden, the Company's "flagship" and largest project, is located
in the municipality of Lycksele along the Gold Line in Sweden. The
Company is planning to build a central processing plant in this
location for extracting gold and silver, with an annual capacity of 5
million tonnes of ore. The plant will be built to process ore from
the Gold Line and the end product to be sold will be doré ingots.
About the Company
Lappland Goldminers AB is an exploration company with the goal of
becoming a producing mining company striving for "green" solutions
from an environmental point of view. The Company is listed on the
market place First North under the name GOLD, with Mangold
Fondkommission AB as Certified Adviser, and on the Oslo stock
exchange's OTC list. Lappland Goldminers has secured a number of gold
deposits along the Gold Line in the Västerbotten region. The
Company's strategy is to develop a profitable, producing gold company
with centrally located processing plants at Fäboliden and in the
Haveri area, which are supported by ore from one or several mines
from the Company's existing project portfolio, through ongoing
exploration activities and through potential acquisitions.
Lappland Goldminers is a member of SveMin, the Association of Mining,
Mineral and Metal Producers in Sweden (previously known as Svenska
Gruvföreningen), and complies with its reporting rules for public
mining and exploration companies. The supporting technical
information for this press release has been compiled under the
supervision of Leif Carlson, who is registered by SveMin as a"Qualified Person", QP.
For more information about Lappland Goldminers, please contact:
Karl-Åke Johansson, CEO Tomas Björklund, member of
the Board
Tel. +46 950 275 01, +46 70 625 22 Tel. +46 70 662 35 35
57
karl-ake.johansson@lgold.se tomas.bjorklund@lgold.se
Or visit the Lappland Goldminers web site at:
www.lapplandgoldminers.com
The full press release including table can be downloaded from the
following link:
Lappland Goldminers AB: Progress report for Fäboliden deep drilling program.
| Source: Lappland Goldminers AB
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