LOGAN COPPER ACQUIRES FORMER HIGH GRADE NORANDA GRAPHITE PROPERTY
Up to 85 % Graphite drilled
May 14, 2012
DELTA, BC, Canada – Logan Copper Inc. (the “Company”, “Logan Copper”, “LC”), (TSX.V: LC) is pleased to announce the acquisition of a third Graphite property in Quebec.
This new property, the Carheil Graphite Property (Carheil) was acquired through Quebec’s Gestim system. Carheil encompasses approximately 5,400, 100% owned, contiguous acres with no NSR or work commitment attached.
The Carheil property is located approximately 280 km NNW of Val-d’Or, QC and is approximately 120 km N of La Sarre, QC. Aurizon Mines Ltd.’s producing Casa-Berardi Gold Mine is located approximately 19 km south of LC’s Carheil property. There is an existing road crossing the property which leads to the BHP Billiton Ltd.’s past-producing Selbaie Zinc Mine which is located approximately 20 km east of LC’s Carheil property.
Mr. Thal S. Poonian, President and CEO of Logan Copper commented “LC believes that the Carheil property has the potential to become its flagship graphite property. We look forward to verifying the historical results and defining the project potential”.
A percentage (6.67% or 360 acres) of the 5,400 acre Carheil property was formerly explored by Noranda Exploration Co. Ltd. (Noranda). In August 1975 Noranda completed a geophysical survey covering approximately 300 acres of the Carheil graphite property.
Noranda completed two diamond drill holes in the surveyed area in May of 1978. The first hole was lost in overburden while the second hole number 2-78 was drilled to a depth of 497 feet. Historical diamond drill core log report number GM33862 returned results as follows:
157 – 227 feet about 5% graphite
240 – 425 feet 20 – 60% graphite
428 - 453 feet about 85% graphite
The hole was drilled at dip collar -55o and core size was AQ.
The historical, non-43-101 compliant, geophysical survey report filed with the Quebec Ministry of Natural Resources, report number GM: 31366, reported the following.
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