Lago Dourado Intercepts 158 Metres of 0.59g/t Gold at Juruena Project, Brazil; Announces IR Appointment
08 11월 2012 - 2:45AM
Marketwired Canada
Lago Dourado Minerals Ltd. (TSX VENTURE:LDM), (the "Company") is pleased to
announce the results from two follow up drill holes at the Uiliam zone at its
flagship, 100%-owned Juruena Project located in Mato Grosso, Brazil. These
additional drill holes, drilled prior to the temporary break in the Company's
Phase 2 diamond drill campaign which recommenced last month, confirm the
presence of a broad and persistently mineralized zone at Uiliam. It is also
interpreted that Uiliam is related to near-surface zones identified in recent RC
drilling which would suggest the down dip continuity of this large mineralized
body is greater than 700m. Key points of note are outlined below and relevant
figures can be found at the following link:
http://media3.marketwire.com/docs/LDMFigs1107.pdf.
-- JRND059 intercepted 158m @ 0.59g/t Au from a vertical depth of 250m.
JRND059 was drilled as a scissor hole to test the thickness and
orientation of the mineralization intercepted in hole JRND046 (216m @
0.55g/t Au).
-- It is interpreted that near-surface mineralization at the Mauro and
Mauro West zones is related to the mineralized body at depth at Uiliam.
This would suggest that the vertical extent of this mineralized body is
approximately 300m and the down dip continuity is greater than 700m.
Whilst further drill testing is required to confirm this, this is an
important step in defining a sizeable mineral resource associated with
this mineralized zone.
-- Lamprophyre dykes have now been observed in all three drill holes at the
Uiliam Zone implying gold mineralization at Juruena is associated with
exceptionally deep-seated magmatism.
-- The mineralized body has metal associations consistent with those
reported elsewhere within the project with strong Au-Ag-Te correlations
and lesser Mo, Bi & Cu present. This is consistent with the porphyry
model of mineralization driving the system.
Current drilling in the 8,000m Phase 2 diamond drill program is focused on the
new porphyry target, a large, round chargeability anomaly with coincident
porphyry and epithermal multi-element soil anomalies. Phase 2 drilling will also
test the Arrastro Hills porphyry/epithermal target as well as the Crentes/Donna
Maria Zone at depth. The Crentes/Donna Maria Zone has already returned 13
intercepts with gram-metres greater than 50 and has been the only zone tested to
date that has returned meaningful copper intercepts (57m @ 0.35% Cu & 1.39g/t
Au). This zone has not been previously drill tested at depth (greater than
250m). The 6,000m reconnaissance-style RC drill campaign is now complete. Drill
results will be released once final assay results have been received.
Uiliam Zone
Two diamond holes (JRND058 and JRND059) were drilled at Uiliam targeting the
mineralized body intercepted in JRND046 (216m @ 0.55g/t Au). The interpretation
from these drill results, along with RC drill results at surface, is that
mineralization at Uiliam is comprised of three different zones as outlined
below:
1. The breccia contact zone between the two main rock units, the
porphyritic granite and the microgranite. This contact zone was
intercepted in all three diamond holes at depth and returned the
following intercepts: 13m @ 2.58g/t Au in JRND046, 24m @ 0.65g/t Au in
JRND058 and 16m @ 1.73g/t Au in JRND059. This mineralized contact zone
projected to surface corresponds with the Mauro West zone where RC
drilling returned 13m @ 4.00g/t Au and 14m @ 1.07g/t Au in hole JRNRC010
and 13m @ 1.17g/t Au in hole JRNRC090. This interpretation would suggest
that the down dip continuity of this zone is greater than 700m (from
hole JRNRC010 to hole JRND059).
2. Porphyry dykes - holes JRND058 and JRND059 both intercepted
mineralization around the edges of vertical porphyry dykes. The vertical
nature of these dykes suggest this mineralized zone is associated with
the near-surface mineralization at the Mauro Zone where RC hole JRNRC014
returned 57m @ 1.52g/t Au. This would suggest vertical continuity of
this zone of approximately 300m.
3. Mafic/lamprophyric dykes - the Uiliam to Maca Zone is defined by an
intense zone of sulfidation associated with intermediate, mafic to
lamprophyric dykes. Holes JRND046 and JRND059 both encountered a broad
zone of dyke related mineralization that returned 180m @ 0.45g/t Au and
123m @ 0.51g/t Au, respectively.
Table 1 - Uiliam Result Summary:
----------------------------------------------------------------------
From To Length Au Ag
Hole Number Hole Type (m) (m) (m) (g/t) (g/t)
----------------------------------------------------------------------
JRND058 Diamond 53 54 1 1.46 4.32
----------------------------------------------------------------------
182 184 2 1.01 3.22
----------------------------------------------------------------------
280 302 22 0.55 1.11
----------------------------------------------------------------------
343 367 24 0.65 1.96
----------------------------------------------------------------------
JRND059 Diamond 0 20 20 0.27 0.46
----------------------------------------------------------------------
213.6 224 10.4 0.66 1.45
----------------------------------------------------------------------
233 249 16 0.41 0.65
----------------------------------------------------------------------
300 301 1 1.53 5.09
----------------------------------------------------------------------
351 509 158 0.59 1.47
----------------------------------------------------------------------
including 397 421 24 1.09 2.71
----------------------------------------------------------------------
including 494 509 15 1.83 3.79
----------------------------------------------------------------------
including 504 505 1 21.30 39.13
----------------------------------------------------------------------
Note - Intervals are based on a bottom cut-off of 0.15g/t gold and do not
necessarily indicate true widths.
IR Appointment
Lago Dourado has engaged Proconsul Capital to provide investor relations
services that include outreach to the investment community and strategic
communications counsel. The principals of Proconsul Capital are Andreas Curkovic
and Martti Kangas. Proconsul, headquartered in Toronto, provides investor
relations counsel for a variety of small and mid-cap clients in the resource
sector. Lago Dourado will pay a monthly fee of $5,000 for these services.
Qualified Person
Murray Paterson, P.Geo, Vice President Exploration and Development for Lago
Dourado Minerals Ltd, is the Qualified Person, within the meaning of NI
43-101,who reviewed the technical data in this news release. Samples were fire
assayed by Acme Analytical Laboratories S.A. in Santiago, Chile.
About the Company:
Lago Dourado Minerals Ltd. is a Canadian mineral exploration company focused on
advancing its 100%-owned Juruena gold project in the state of Mato Grosso,
Brazil. Extensive gold mineralization has been identified over 15 square
kilometres of the property, and at least 450,000 oz of gold has been mined from
surface workings. The Company has conducted systematic exploration programs over
portions of the property and priority target areas will be drill tested with a
Phase 2 drill campaign that is expected to be ongoing through 2012.
For further information about the company, please visit www.lagodourado.com or
www.sedar.com.
Forward-Looking Statements
This news release contains certain forward-looking statements and
forward-looking information (collectively referred to herein as "forward-looking
statements") within the meaning of Canadian securities laws. All statements
other than statements of historical fact are forward-looking statements. Undue
reliance should not be placed on forward-looking statements, which are
inherently uncertain, are based on estimates and assumptions, and are subject to
known and unknown risks and uncertainties (both general and specific) that
contribute to the possibility that the future events or circumstances
contemplated by the forward-looking statements will not occur. Although Lago
Dourado believes that the expectations reflected in the forward looking
statements contained in this press release, and the assumptions on which such
forward-looking statements are made, are reasonable, there can be no assurance
that such expectations will prove to be correct. Readers are cautioned not to
place undue reliance on forward-looking statements included in this document, as
there can be no assurance that the plans, intentions or expectations upon which
the forward-looking statements are based will occur. By their nature,
forward-looking statements involve numerous assumptions, known and unknown risks
and uncertainties that contribute to the possibility that the predictions,
forecasts, projections and other forward-looking statements will not occur,
which may cause Lago Dourado's actual performance and results in future periods
to differ materially from any estimates or projections of future performance or
results expressed or implied by such forward-looking statements. The
forward-looking statements contained in this news release are made as of the
date hereof and Lago Dourado does not undertake any obligation to update
publicly or to revise any of the included forward-looking statements, except as
required by applicable law. The forward-looking statements contained herein are
expressly qualified by this cautionary statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lago Dourado Minerals Ltd.
Forbes Gemmell
President and Chief Executive Officer
(416) 368-5005 or 1-855-368-5005
investor@lagodourado.com
www.lagodourado.com
Lago Dourado Minerals Ltd. (TSXV:LDM)
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