Logan Resources Ltd.: Drilling to Commence on ESO Uranium's Cluff Project in the Athabasca Basin
VANCOUVER, BRITISH COLUMBIA, Feb 1, 2006 (CCNMatthews via COMTEX) --
Logan Resources Ltd. (the "Company") (TSX VENTURE:LGR)(PINK SHEETS:LGREF) is pleased to announce that ESO Uranium Corp.'s exploration is now under way on its western Athabasca basin uranium project in Northern Saskatchewan. Logan Resources Ltd. entered into an option agreement with ESO Uranium Corp. (ESO) (See News Release # No. 05-03 issued March 15, 2005 for terms of the agreement). Logan Resources Ltd. owns the property 100%. ESO has an option to earn 50% interest in the claims (S-107580 and S-107581- approx. 7,604 hectares). The claims are situated on the Carswell Dome, Athabasca Basin, Saskatchewan.
The winter program will initially focus on the "Gorilla Lake" zone of the Cluff project. The claims underlying the Gorilla Lake zone, totalling approximately 7,640 hectares, are the subject of a 50/50 joint venture between the Company and ESO. Six drill holes averaging 200 metres to 300 metres deep will test the "Gorilla Lake" zone. Previous exploration in this area in 1979 encountered an intercept grading 0.85 per cent U308 over 2.3 metres in hole CAR 425. Road clearing and site preparation is under way with camp and crew arriving by the end of the week. Drilling is planned to start the following week.
ESO is the operator of this exploration program. The Company will release results as they are received from ESO. Logan Resources Ltd. is a mining exploration company engaged in the acquisition, exploration and development of mineral properties. The Company currently owns five precious and base metal properties in British Columbia, Yukon Territory and a uranium property in Saskatchewan. For more information on the properties and Logan Resources Ltd. please visit www.loganresources.ca and SEDAR and EDGAR websites.
ON BEHALF OF THE BOARD
Seamus Young, President
Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
SOURCE: Logan Resources Ltd.
