- The Knaften gold exploration project is previously known as the
largest gold anomaly in bottom moraine in Sweden. We acquired the
project a few years ago and are now starting to get a clear view of
the deposit. The results we now have obtained, after completing the
latest drilling program, are valuable and show that the Knaften
deposit has a potential to become one of the satellite mines for the
planned processing plant at Fäboliden. The Knaften project is now
entering into a phase, where we can direct our efforts at drilling
for a mineral resource and we are now investing further in a drill
program scheduled for spring 2008, comprising 3 000 m distributed
between around 20 drill holes. The very large gold anomaly in the
moraine, where the mother lode now has been partially indicated in
the bedrock in the area, gives us great hope for the Knaften project
says Lappland Goldminers' CEO, Karl-Åke Johansson
The best results from the 2007 tests are found in drill holes
KNA200707 from section 83.5-93.5 m, i.e. 10 m with 3.20 g/t Au,
KNA200714 from section 138.80-143.80 m, i.e. 5 m with 4.27 g/t Au,
KNA200715 from section 118.80-123.80 m, i.e. 5 m with 2.89 g/t Au and
KNA200719 from section 14.50-17.50 m, i.e. 3 m med 3.42 g/t Au. Gold
mineralization of 1-10 m section length has been found in 11 of the
14 so far reported drill holes from 2007.
The Knaften gold exploration project is situated 15 km south of
Lycksele and around 55 km from Fäboliden. The Company has an
exploration permit in Knaften comprising around 1 477.68 ha. The executed drilling program totalled 3 328 metres, distributed
between 20 drill holes, which were completed during the period August
- December 2007. A total of 9 201 metres have been drilled in several
stages starting in 1995, and distributed between 58 drill holes, of
which 23 holes totalling 3 711 were carried out by the previous
owners. The majority of the analyses from the completed program have
now been received from the certified laboratory ALS-Chemex/Vancouver,
see table attached for the drilling of 2006, 2007 and 2008.
Logging of cores, other documentation of the drill holes as well as
sample sectioning have been carried out by the Companys' geologists
and technicians in Lycksele. Splitting of the drill core (39 mm
diameter) and sample preparations have been carried out by
ALS-Chemex/Piteå.
The methods of analyses are done according to the following ALS
codes: gold Au-AA 26 (ore grade Au 50 g /FA-AA finish); arsenic
As-AA46 (ore grade As-aqua regia/AA; multi-element ME-MS62 (trace
level ICP-MS analysis) and ME-ICP41 (35 element aqua regia ICP-AES).
Included in the sample series are blank samples and certified control
analyses.
The core drilling of 20 drill holes during 2007 east of Örån has been
conducted in nine east-west profiles and one south-west profile
within an area 650 long (N-S) and 600 m wide (E-W) with a depth from
105-200 m. The drilling has mainly been directed at geophysical IP
anomalies, caused by shallow schist zones, dipping towards south-east
in quartz diorite with breccias and weak arsenopyrite disseminations,
quartz veining and carbonate alteration. Gold mineralization is found
as sparse very small, visible, gold grains.
The best gold mineralizations encountered so far are found in three
areas and around the profiles 265N, 0N-S and 350S situated 300 m
apart. The gold mineralization in profile 265N is found under a
depth of 35 m moraine at around 50-65 m vertical depth. The gold
mineralization in profile 0N-S is found at a drilling depth of 15-20
m. This means that the mineralization is found close to the surface,
under a relatively shallow moraine cover, which at Knaften is up to
50 m as a maximum. In profile 350S, finally, the gold mineralization
is found at a drilling depth of 119-144 m. It would appear, in other
words, that gold mineralization is found in several tectonic zones,
which are dipping both shallow and steep. The widest gold mineralized
zone in previous drilling is in drill hole KNA01001, with 14 m of
1.79 g/t Au in section 55.0- 69.45 m in profile 265N.
About the Company
Lappland Goldminers AB is an exploration company with the goal of
becoming a producing mining company. The company is listed on the
market place "First North" under the name GOLD, with Mangold
Fondkommision AB as the Certified Advisor, as well as the OTC list of
the Oslo exchange. Lappland Goldminers has secured a number of gold
deposits along the so-called Guldlinjen ("The Gold Line") in
Västerbotten. The Company's strategy is to develop a profitable,
producing gold company with a centrally located processing plant in
Fäboliden, Sweden, and in the Haveri area in Finland, which is
supported by ore from one or several mines either through the
Company's own exploration or alternatively through acquisitions.
The company is a member of SveMin, the trade association for mines,
minerals and metal producers in Sweden (formerly called the Swedish
Mining Association) and follows SveMin's reporting rules for public
mining and exploration companies.
The technical data for this press release has been compiled under the
supervision of Leif Carlson, who is a Director at the Board of
Directors of the Company, and who furthermore is registered by SveMin
as a "Qualified Person", QP.
For additional information about Lappland Goldminers AB, please
contact:
Karl-Åke Johansson, CEO Tomas Björklund, Board Member
Ph. +46 950-275 01, +46 70-625 22 57 Ph. +46 70-662 35 35
karl-ake.johansson@lgold.se tomas.bjorklund@lgold.se
Or see Lappland Goldminers' web site www.lapplandgoldminers.com
at: www.mangold.se
About Mangold Mutual Fund:
Lappland Goldminers has carried out successful drilling at the gold project Knaften.
| Source: Lappland Goldminers AB
Attachments
