Linear Gold Corp. is the new name proposed for Linear Resources who picked up M.I.M.'s Central American Exploration program and commitments in October, 2003.
Linear Resources Inc. (LRR.V) is pleased to announce the completion of its purchase of the mineral exploration portfolio of MIM International Exploration in Central America from Xstrata Plc. Linear now owns a 100% interest in Minera Mount Isa Panama S.A., which has been actively exploring for gold and base metals in the Dominican Republic and Panama for the last six years, and a 100% interest in M.I.M. Mexico, S.A. de C.V. which has been actively exploring for gold and base metals in Mexico for the last seven years. This acquisition includes all mineral exploration concessions belonging to MIM/Xstrata in the Dominican Republic and Mexico, as well as extensive exploration geoscience datasets covering the entire Central American region.
Press Release 27Oct03
Linear’s wholly owned subsidiary, M.I.M. Mexico S.A. de C.V. has been exploring in Mexico for gold and base metals since 1995. As this work progressed, it became clear that the southern states of Mexico, particularly Chiapas, had been overlooked by most other exploration companies. As a result of an evaluation of the Sante Fe mine area in northern Chiapas in mid 2000, it was apparent that there were a number of high sulfidation epithermal and shallow porphyry environments present in Chiapas which could be identified by stream sediment reconnaissance. The Ixhuatan project was acquired on this basis in the year 2000, and a satellite interpretation of the continuation of the Central American Island arc was undertaken in 2002 followed by a detailed stream sediment geochemical program. As a result of the followup of these anomalies, nine more properties were staked during early 2003.
Ixhuatan Project, Chiapas. 28,324 hectares. Exploration concession granted May, 2001. The Ixhuatan project is located immediately southwest of the Santa Fe mine owned by Minera Frisco, in northern Chiapas. The project is accessible by unimproved roads 5km east of the city of Rayon, Chiapas two hours south of Villahermosa, Tabasco by paved highway. Stream sediment sampling of the concession area indicated a large cluster of gold and copper anomalies in the -80 mesh fraction associated with an intrusive trend of probable Miocene age tending northeast-southwest through the region. Followup ridge and spur soil sampling and later grid soil sampling has identified four separate anomaly areas in excess of 400m x 400m each of plus 100ppb gold. Each of the four anomalies, named San Isidro, Central, Northern, and Campamento have strong indications of porphyry and skarn style alteration with rock chip samples from 0.1 to 9.4 gAu/t and 0.1 to 1.1% Cu.
Motozintla Project, Chiapas. 7755 hectares. Exploration Concession granted July 2003. Motozintla was acquired on the basis of stream sediment sampling along the trend of volcanic rocks projecting from Guatemala. The results thus far are very encouraging with 27 out of 187 samples containing between 100 and 1240 ppb Au in the -80 mesh fraction, and 40 out of 170 samples containing between 50 and 350 ppb Au in the BLEG (Bottle Leach extractable gold) technique. Rock sampling during the followup phase indicate 14 out of 72 rock samples containing between 100 to 5760 ppb Au. The Motozintla project is located 65 km immediately west from the Marlin gold project of Glamis Gold Corp, containing reported resources in excess of 4 million ounce of gold.
La Reforma Project, Chiapas. 5084 hectares. Exploration concession granted July 2003. La Reforma was identified further to west in the same trend as Marlin and Motozintla with seven samples in the -80mesh fraction between 100 and 467 ppb Au and 14 samples between 100 and 451 ppm Cu. Four rock samples fall within the range of 100-500 ppb Au. Significant zones of phyllic style alteration indicative of a porphyry environment are present with the property holding.
Los Olivos Project, Chiapas. 1917 hectares. Exploration concession granted July 2003
Huixtla Project, Chiapas. 11797 hectares. Exploration concession granted July 2003
Tenochitlan Project, Chiapas. 1879 hectares. Exploration concession granted July 2003
Cerro Brujo Project, Chiapas. 10861 hectares. Exploration Concession granted July 2003
El Pajal Project, Chiapas. 1395 hectares. Exploration concession granted July 2003
Piedra Azul Project, Chiapas. 682 hectares. Exploration concession granted July 2003
El Porvenir Project, Chiapas. 1400 hectares. Exploration concession granted July 2003WWWinfo 27Oct03
