Logan Resources Announces 2017 Exploration Plans for Carswell (Gorilla Lake) Property, Athabasca Basin, Saskatchewan
LGR: TSX.V Page 1 of 3
Logan Resources Announces 2017 Exploration Plans for Carswell (Gorilla Lake)
Property, Athabasca Basin, Saskatchewan
January 19, 2017
VANCOUVER, BRITISH COLUMBIA, Logan Resources Ltd. (LGR: TSX-V) (“Logan” or the
“Company”) is pleased to jointly announce the 2017 uranium exploration plans on the Gorilla
Lake property (“Gorilla Lake”, or the “Property”) with ALX Uranium Corp (AL: TSX-V) (“ALX”).
Logan has historically referred to the Gorilla Lake property as the Carswell property in its public
disclosure. Gorilla Lake is located within the Carswell Impact Structure in the western Athabasca
Basin, Saskatchewan approximately 15 km north of the past-producing Cluff Lake uranium mine
which operated from 1980 to 2002.
The 2017 exploration plan for Gorilla Lake includes a four-hole diamond drilling program totaling
approximately 1,000 metres during the winter season. Work will be focused on the northern
portion of the Property and is scheduled to commence in mid-February.
The drilling program will follow up on basement-hosted uranium mineralization that was previously
intersected on the Property in historical holes CLU-01 (0.46% U 3O8 over 1.5 m) and CLU -07
(0.17% U3O8 over 7.0 m) drilled in 2006. The uranium mineralization is associated with numerous
conductors, as defined by airborne and ground electromagnetic (“EM”) surveys and is coincident
with a distinct northeast-trending gravity low highlighted from a ground gravity survey conducted
in the winter of 2016.
In addition, the drill program will test an airborne electromagnetic anomaly approximately 1500
metres south of Gorilla Lake coincident within a distinct northeast-southwest striking gravity low.
To view a map of the geophysical anomalies and planned 2017 drill target areas, please visit
the Logan website at: http://www.loganresources.ca/images/GorillaLake_2017Targets_LGR-
NR-20170119.jpg
About Gorilla Lake
The Gorilla Lake property consists of two contiguous mineral claims totaling 7,552 ha (18,661
acres) within the Carswell Impact Structure in the western portion of the Athabasca Basin,
northern Saskatchewan. The Property is held 80% by ALX , with Logan having a 20% carried
interest. ALX is the operator of the Property.
The Property is part of ALX’s Cluff Lake group of properties adjoining the former Cluff Lake mine
site, where over 62 million pounds of U3O8 were extracted during a 22-year operating life through
a combination of three open pit mines and four underground mines by predecessors of AREVA
Resources Canada Inc.
The exploration potential of the Gorilla Lake property is well established from nearly five decades
of exploration in the region. Important attributes for uranium potential include strong structural
zones with known uranium mineraliz ation and clay alteration in drill holes and numerous
conductors, as defined by airborne and ground EM surveys. In 2006, ESO Uranium Corp., a
predecessor company to ALX, drilled extensions to known mineralization intersected by Amok in
1979 (0.85% U3O8 over 2.5 m in hole CAR-425) in two of the six holes drilled. Drill hole CLU -01
intersected 0.46% U3O8 over 1.5 m from 174.0 to 174.5 metres. Drill hole CLU-07 intersected two
LGR: TSX.V Page 2 of 3
zones of uranium mineralization: one zone returned 0.17% U 3O8 over 7.0 metres from 1 53.0 to
160.0 m, including 0.82% U 3O8 over 1.0 metre and a second zone contained 0.20% U 3O8 over
2.0 m from 175.0 to 177.0 metres. These step -out holes confirmed the presence of uranium in
the area of previous hole CAR-425. The uranium mineralization intersected in drill holes CLU-01
and CLU-07 is associated with a virtually untested structure extending over at least 1,700 metres.
This structure represents a prime target for further drilling.
The results of a recent ground gravity survey conducted on the P roperty in the winter of 2016
identified two significant gravity anomalies to the east and west of Gorilla Lake and confirmed a
third geophysical anomaly approximately 1,500 metres south of Gorilla Lake as follows:
1. Anomaly “A”: The area to the east of Gor illa Lake showed a distinct northeast -trending
gravity low on the northeast side of the survey area with extremely low residual gravity.
This area is coincident with known drill intercepts of uranium mineralization.
2. Anomaly “B”: The area to the west of Gorilla Lake represented a new anomaly consisting
of a large northeast-trending gravity low west of Gorilla Lake.
3. Anomaly “C”: To the south of Gorilla Lake, gravity work completed over a magnetic button
and Ad Tau anomaly showed a distinct northeast-southwest striking gravity low.
NI 43-101 Disclosure
Technical information in this news release has been reviewed and approved by Sierd Eriks,
P.Geo., Vice President, Exploration of ALX, who is a Qualified Person, in accordance with the
Canadian regulatory requirements set out in National Instrument 43-101.
About ALX Uranium Corp.
ALX (AL: TSX-V) is a junior uranium exploration company formed in 2015 as the result of a
business combination between Lakeland Resources Inc. and Alpha Exploration Inc. ALX is
actively exploring a portfolio of pr ospective properties in the Athabasca Basin, which total
approximately 145,000 hectares. For more information on the project portfolio and the company,
please visit https://www.alxuranium.com/.
About Logan Resources Ltd.
Logan Resources Ltd. (LGR: TSX-V) is a junior exploration company in the business of acquiring
and advancing mineral properties. Logan’s focus is on actively exploring nine gold properties in
Nevada and Utah, USA that are under option from Pilot Gold Inc. Logan also has a 20% carried
interest in the Gorilla Lake uranium property , and has a 100% interest in the Redford iron ore
property on Vancouver Island, Canada. Redford is a former producing iron ore mine. For more
information, please visit www.loganresources.ca.
LOGAN RESOURCES LTD.
On behalf of the Board
“Mark Morabito”
Chief Executive Officer
LGR: TSX.V Page 3 of 3
For further information regarding this news release, please contact:
Jennifer Paterson, Manager of Corporate Development
T: 604-681-8030 x 248
F: 604-681-8039
www.loganresources.ca
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward -looking information" concerning anticipated developments and events that may
occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements
with respect to (i) the timing and details of the drill program, (ii) the exploration potential and prospective nature of the
properties, (iii) potential uranium mineralization on the properties; and (iv) the potential results of the drill program.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations,
beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward -looking
information contained in this news release is based on certain factors and assumptions regarding, among other things,
the estimation of mineral resources, the r ealization of resource and reserve estimates, gold, uranium and other
commodity prices, the timing and amount of future exploration and development expenditures, the estimation of labour
and operating costs, the availability of necessary financing and mate rials to continue to explore and develop the
Company’s properties in the short and long -term and to acquire new properties, the progress of exploration and
development activities, the receipt of necessary regulatory approvals, the estimation of insurance c overage, and
assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar
matters. While the Company considers these assumptions to be reasonable based on information currently available
to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially different from any future results,
performance or achievements exp ressed or implied by the forward -looking information. Such factors include risks
inherent in the exploration and development of mineral deposits, risks relating to variations in mineral resources, grade
or recovery rates resulting from current exploration and development activities, risks relating to the ability to access
infrastructure, risks relating to changes in gold, uranium and other commodity prices and the worldwide demand for
and supply of gold, uranium and related products, risks related to increased competition in the market for gold, uranium
and related products and in the mining industry generally, risks related to current global financial conditions,
uncertainties inherent in the estimation of mineral resources, access and supply risks, relianc e on key personnel,
operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases
in capital and operating costs and the risk of delays or increased costs that might be encountered during the
development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits,
financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and
development activities on the Company’s properties, or to acquire new properties, may not be available on satisfactory
terms, or at all, risks related to disputes concerning property titles and interest, environmental risks and the additional
risks identified in the "R isk Factors" section of the Company's reports and filings with applicable Canadian securities
regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to
differ materially from those de scribed in forward -looking information, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance
on forward-looking information. The forward-looking information is made as of the date of this news release. Except as
required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any
forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.