Exploration At Cordero Discovers New Zone

 

VANCOUVER, BC - Levon Resources Ltd. and joint venture partner Valley High Ventures Ltd. reported that current exploration results have expanded the Cordero silver, gold, base metal porphyry district by about 2 km to the southwest along the strike of a mineralized porphyry belt. This new target, the Pozo de Plata (Silver Well) Zone, is defined by mapping and sampling results that establish the presence of a poorly exposed, mineralized rhyolite dike and diatreme complex in an area of alluvial cover. There is no evidence of past exploration work in this area except for the accidental exposure of silver bearing breccias in a recently deepened water well.

Results from a trench excavated approximately 50 m east and north from the water well returned 355 metres grading 14.0 g/T Ag, 0.13 g/T Au, 0.12% Zn and 0.12% Pb including 175 metres at 21.8 g/T Ag, 0.20 g/T Au, 0.16% Zn and 0.20% Pb. Additional rock sampling along a nearby stream bed that exposed rhyolite dikes and diatreme breccias returned anomalous grab samples from bedrock exposures over a distance of 150 metres. Of eighteen grab samples collected, silver values range from 3.2 ppm to 374 ppm with eight samples returning greater than 50 ppm. Gold values range from 157 ppb to 1190 ppb.

The Cordero property is centered on a mineralized belt of porphyries that has now been defined through a strike length of 6 km and a width of about 3 km. The district is covered by the joint venture claims and consolidated land agreements that total about 10,000 hectares. Work has been ongoing continuously since February with work comprised of detailed geological mapping, soil sampling, rock chip sampling, trenching and 3D induced polarization surveys.

A state of the art 3D induced polarization survey ("IP") designed by SJ Geophysics, Vancouver, B.C. has been completed. The data is currently being processed and a 3D inversion model constructed. The IP survey covers the Cordero dome, the next intrusion to the northeast and was extended to cover the Pozo de Plata zone. The IP inversion results will be integrated into a 3D Gocad exploration model being constructed for the porphyry belt in preparation for an extensive drill program planned for later this year.

Levon may earn a 51% interest in Valley High's Cordero by spending Cdn $1,250,000 by the end of February 2013 with a first year work commitment of Cdn $250,000. The Cordero project is located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico.

The company’s address is Suite 400, 455 Granville Street, Vancouver, BC V6C 1T1, 604.682.3701, fax: 604.682.3600.