Lago Dourado Commences 12,000 Metre Phase 2 Drill Program to Test Highly Prospective Targets Identified in Successful 2011 Exploration Program at Juruena Project, Brazil
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 04/26/12 -- Lago Dourado Minerals Ltd. (TSX VENTURE: LDM), (the "Company") is pleased to provide an exploration update at its flagship, 100%-owned Juruena Project located in Mato Grosso, Brazil. Highlights include:
Porphyry-epithermal geological model
A critical, new and important development resulting from exploration work over the last 12 months has been the recognition that Juruena potentially belongs to a class of gold-rich porphyry systems, a shift from the original intrusion-related gold system model. Based on global comparisons between these two deposit styles, this has very positive implications for the size potential of the Juruena deposit. The critical components that support this porphyry-epithermal geological model at Juruena are:
Two major intrusions have recently been identified at Juruena that both have classic porphyry signatures: Arrastro Hills, a mineralized felsic intrusion situated adjacent to the high-sulfidation epithermal Crentes Zone, and South Mag, a major magnetic body anomalous in Cu, Zn, Pb, Ag and Fe. Neither of these targets has been tested in previous drilling campaigns by Lago Dourado or previous companies. The Company has recently commenced an IP survey, a critical exploration tool for porphyry deposits, which will initially target Arrastro Hills before focusing on the central part of the gold-in-soil anomaly (including Crentes and Uiliam) and the South Mag Zone.
Phase 2 drill program
The Company has recently initiated a 12,000 metre Phase 2 drill program consisting of 4,000 metres of RC drilling and 8,000 metres of diamond drilling. There is currently an RC rig and diamond rig turning on the property. The three high priority targets to be tested in the Phase 2 drill program are:
Phase 1 drill results
The Company's 15,000 metre Phase 1 drill program was recently completed. Highlights of the drill campaign were as follows:
Final assay results have now been received for the remainder of the holes drilled in the Phase 1 drill campaign and are summarized in the table below and in Figure A. Highlights include:
Table 1 - Juruena Assay Result Summary:
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 or .
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.
To view the map associated with this press release, please visit the following link: .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Lago Dourado Minerals Ltd.
Forbes Gemmell
President and Chief Executive Officer
(416) 368-5005 or 1-855-368-5005
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Datum: 26.04.2012 - 13:14 Uhr
Sprache: Deutsch
News-ID 139672
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Mining & Metals
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