Levon Resources Ups Cordero's Indicated Silver Resource by 34 Percent

Levon Resources Ups Cordero's Indicated Silver Resource by 34 Percent

It's been a sparse news year thus far for Vancouver-based Levon Resources (TSX:LVN), but the company made up for that today with the release of an updated resource estimate for its Mexico-based Cordero project.

The new report, which takes into account all Phase 4 core drill results to date, is an update of the company's June 2012 resource estimate. It includes an indicated resource containing 488,494,796 ounces of silver, 1,366,129 ounces of gold, 9 billion pounds of zinc and 4.7 billion pounds of lead in 848.5 million tonnes of material grading 41.03 grams per tonne (g/t) silver equivalent; that includes 17.91 g/t silver, 0.05 g/t gold, 0.479-percent zinc and 0.254-percent lead at a cut-off grade of 15 g/t silver equivalent.

Silver equivalents are calculated at $20 per ounce silver, $1,250 per ounce gold, $0.94 per pound zinc and $0.95 per pound lead.

"The new resource estimate includes a 34% increase in the indicated silver resource over the Company's June 2012 resource estimate," said Ron Tremblay, president and CEO of Levon, adding, "[w]e are pleased with the Company's progress at Cordero, which has advanced quickly from our original discovery in 2009 through four accelerated drill programs to reach the present resource estimate."

Today's press release also notes that the open-pit resource geometry contains an inferred resource of 44,448,039 ounces of silver, 84,746 ounces of gold, 663,311 million pounds of zinc and 396,532 million pounds of lead within 92,158 million tonnes of material. Grades for that material sit at 31.4 g/t silver equivalent, including 15 g/t silver, 0.029 g/t gold, 0.327-percent zinc and 0.195-percent lead at a cut-off grade of 15 g/t silver equivalent.