Logan finds ‘saddle reefs’ in Yukon

Vancouver — After reviewing results from last year’s mapping and sampling program, Logan Resources (LGR-V) believes it has delineated a significant copper-gold exploration target at its Shell Creek property, 75 km northwest of Dawson City in west-central Yukon.

The Vancouver-based company’s project area totals 98 sq. km and encompasses an 18-km-long belt of banded iron formation related to widespread copper-gold mineralization.

Quartz “saddle reefs” appear to be the main source of gold and copper in the project area. Four such reefs have been identified over a 6-km section of the belt; however, the company believes there is potential for additional discoveries.

The company points to geological and physical similarities to Australia’s Bendigo-Ballarat district, which has produced more than 25 million oz. gold from saddle reefs. The most notable similarity is the presence of coarse, visible gold in late-stage veins. One difference is the presence of copper at Shell Creek.

Logan views the target as having “economic potential” but notes that more work is required before grades and tonnage can be estimated.

The company is encouraged by the results of sampling and by the geological setting. The Tintina trench bounds the southern margin of the property, while the property overlies the largest gravimetric anomaly (identified by the Geological Survey of Canada) in the Yukon.

This year’s exploration program will include an airborne magnetic survey to define the banded iron formation, a gravity survey to define the geology, and an induced-polarization survey to identify mineralized areas.

More soil sampling and mapping are planned, following which drilling will attempt to define zones of late-stage veining. Favourable zones will be bulk-sampled to determine grades.

Logan has five other gold and base metal properties in the Yukon, British Columbia and Saskatchewan, and can earn half-interests in various uranium properties in Saskatchewan.

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