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levon resources ltd (LO9) Details

Levon Resources Ltd., an exploration stage company, is engaged in the acquisition, exploration and development of natural resource properties in Mexico. The company primarily explores for gold, silver, lead, zinc, and copper. It principally owns a 100% interest in the Cordero Sanson property, which covers an area of approximately 20,000 hectares located near the Hidalgo Del Parral, Chihuahua, Mexico. Levon Resources Ltd. was founded in 1965 and is headquartered in Vancouver, Canada.

Founded in 1965

levon resources ltd (LO9) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$300.0K
Chief Financial Officer
Total Annual Compensation: C$56.2K
Vice President of Exploration and Director
Total Annual Compensation: C$189.3K
Compensation as of Fiscal Year 2014.

levon resources ltd (LO9) Key Developments

Levon Resources Ltd. Reports Audited Consolidated Earnings Results for the Year Ended March 31, 2014

Levon Resources Ltd. reported audited consolidated earnings results for the year ended March 31, 2014. For the year, the company reported total comprehensive loss was CAD 5,079,421 or CAD 0.03 basic and diluted loss per share against CAD 6,773,240 or CAD 0.03 basic and diluted loss per share a year ago. Loss before other items was CAD 5,690,053 against CAD 7,243,033 a year ago. Cash used in operating activities was CAD 5,445,391 against CAD 6,575,780 a year ago.

Levon Resources Ltd. Corrects Calculation Errors in the Report of Silver Equivalent Drill Hole Intersections

Levon Resources Ltd. has identified calculation errors in the silver equivalent (Ag Eq) values for the composited drill hole intersections reported in its press release of February 26, 2014. The silver equivalent calculations contained in the Press Release understated the actual calculated silver equivalent for the reported drill hole composites by approximately 5.4% due to an error in the metal prices used in the calculation. The Ag Eq values in the Press Release were presented in a series of five tables, and certain of these values were mentioned in the accompanying text in the Press Release. The correct values appear in the tables below and will be posted for all the holes on the Levon website. The corrected composite widths are unchanged and are reported in metres and feet, and calculated Ag Eq in grams per ton (g/t) Ag Eq, and ounces per ton (oz/t) Ag Eq. Assay reporting: The final lab assays for Ag, Au, Zn, and Pb from the 2 m sawed and continuously sampled core intercepts are summarized in this press release. Assays and calculated silver equivalent grams per metric tonne (g/t Ag Eq) are reported for the composited drill intersections in metres (m) and also in feet (ft), and troy ounces per metric tonne (oz/t Ag Eq). Drill hole assay composites were calculated using the metal prices and cut offs that Independent Mining Consultants (IMC) and M3 Engineering and Technology (M3) used in their calculation of the Cordero resource, and modeling in the Preliminary Economic Analysis (PEA). The PEA provides the details of the NSR/t cutoff grade modeling. Management believes the metal prices used in the PEA continue to be realistic long term estimates, and the prices used are: $25/oz Ag, $1,000/oz Au, $1.00/Pb Zn and Pb. Composite intervals were selected using a $6 NSR/t cutoff, which equates to about 10 g/t Ag Eq. Minimum down hole grade continuity is 10 m in any of the composites. The composites were calculated directly from the assays and represent in-situ Ag Eqs.

Levon Resources Ltd. Completes Phase 4 Exploration Drilling at Cordero, Intersecting Strong Mineralization from Surface Within the Aida Claim

Levon Resources Ltd. reported that Phase 4 drilling was completed on February 13, 2014 at the Cordero project near Hidalgo Del Parral, Chihuahua, Mexico. Twenty four (24) core holes (13,072 metres [m]) were drilled on a 100 m drill grid, testing the recently acquired Aida claim, which is located in the center of the Cordero project. Assays for 14 of the 24 holes have been received and are described in this release. The pending assays of the remaining 10 holes will be reported when available, then all project drill data will be forwarded to Independent Mining Consultants ("IMC") to prepare an updated Cordero resource estimate. The current exploration drill assay results reveal that strong bulk tonnage silver (Ag), gold (Au), zinc (Zn), and lead (Pb) mineralization extends from surface, over broad intervals within and near the Aida claim. Three (3) of the newly reported exploration holes also intersected wide, higher grade mineralization across mineralized volcanic feeder zones at depth within the volcanic Cordero Felsic Dome Complex.


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