Lateegra
Lateegra Gold Corp (C:LRG)
Shares Issued 22,298,051
Last Close 1/16/2007 $1.43
Wednesday January 17 2007 - News Release
Mr. Chris Verrico reports
LATEEGRA DEFINES SEVERAL GOLD TARGETS ON THE EL CONDOR PROJECT, SOUTHEASTERN ECUADOR
Lateegra Gold Corp. has completed the first phase of exploration at the El Condor concession, southeastern Ecuador. Results have yielded eight anomalous zones consistent with the geochemical signatures of other recent discoveries nearby, including that of Aurelian Resources at Fruta del Norte. Initial work consisted of geological mapping, regional stream sediment sampling, and both rock and soil sampling blanketing its wholly owned 243-hectare concession, located immediately south of and on trend with Aurelian Resources' world-class discovery.
The highlights of the work show a large 19-hectare arsenic and antimony anomaly on the southern portion of the property. Dr. Richard Sillitoe states in his report, "Comments on Geology and Potential of the Fruta del Norte Epithermal Gold Prospect, Ecuador, July, 2006," prepared for Aurelian Resources (see Aurelian Resources' news in Stockwatch dated Aug. 23, 2006) that, "If the coherent arsenic and antimony anomalies in conglomerate that help to define the corridor south of Fruta del Norte are interpreted as upward leakage from blind gold mineralization, as they have been shown to be at Fruta del Norte, then additional epithermal gold mineralization may already have been located." Dr. Sillitoe further notes that, "The arsenic and antimony anomalies located south of Fruta de Norte are thought to merit immediate scout drill testing in search of blind gold mineralization in the underlying andesitic volcanic sequence."
Furthermore, at El Condor, a large gold-copper anomaly covering an area of 15 hectares is located in the north-central region of the property immediately south of Aurelian's El Tigre anomaly.
First phase work by Lateegra consisted of stream sediment sampling while establishing a grid for sample and mapping control comprising over 26 kilometres of cut lines spaced 100 metres apart. Nine hundred seventy-one soil samples were then collected at 25-metre intervals and analyzed using metal mobile ion technology at ALS Chemex laboratories.
MMI process was used for its demonstrated superior performance throughout the diverse suite of mineralization hosted in these tropical environments. In comparison with conventional techniques, MMI produces a better focus for follow-up exploration by detecting mobile ions weakly attached to soil particles emanating vertically above the oxidizing mineralization. Mobile metal ion analyses are expressed as concentrations, just like results from a conventional soil survey. However, Wamtech Pty. Ltd., the developer of MMI technology, reports that: "To facilitate multielement interpretation of MMI analytical data, it is recommended that for each element, a background for the data is calculated, using (say) the lowest quartile of the data. Then a peak-to-background ratio (response ratio) is calculated for each element for each sample(1)." The resulting unitless value, called response ratio, quantifies sample enrichment with respect to the background. For example, the concentration of a sample with a response ratio of 35 is 35 times higher than the background concentration.
The table entitled, "El Condor background concentrations used to calculate response ratios," lists the El Condor background concentrations for the elements reported herein(2).
EL CONDOR BACKGROUND CONCENTRATIONS
USED TO CALCULATE RESPONSE RATIOS
Element Background
concentration (PPB)
Gold 0.2
Copper 111
Silver 1.8
Arsenic 3.4
Antimony 0.8
Molybdenum 2.5
Resulting analysis defined eight anomalous areas(3) within the property as describe below (for brevity only the strongest response ratios are reported).
Anomalous zone 1 (AZ1), located in the northwest corner of the property, covers five hectares and shows a strong gold (RR equals 35), copper (RR equals 136 and 70) and molybdenum (RR equals 66 and 54) anomaly.
Anomalous zone 2 (AZ2), located on the southwest portion of the property, shows strongly anomalous gold (RR equals 35 and 24), silver (RR equals 3 and arsenic (RR equals 245 and 73).
Anomalous zone 3 (AZ3), located 600 metres east of AZ1, covers approximately 2.5 hectares showing an anomaly consisting mainly of copper (RR equals 131 and 108).
Anomalous zone 4 (AZ4), located 300 metres south of AZ3, covers an area of five hectares consisting mainly of gold (RR equals 31 and 30), silver (RR equals 47) and molybdenum (RR equals 107, 100 and 96).
Anomalous zone 5 (AZ5), located in the south-central region of the property, covers seven hectares characterized by anomalous gold (RR equals 26), copper (RR equals 103, 63 and 60) and silver (RR equals 35).
Anomalous zone 6 (AZ6) flanking AZ4 and AZ5 this large, approximately 19-hectare arsenic (RR equals 452, 278, 177 and 128) and antimony (RR equals 92, 92, 87 and 77) anomaly potentially indicates a large buried epithermal system.
Anomalous zone 7 (AZ7), located approximately 800 metres to the east of AZ6, consists of a north-south-trending arsenic (RR equals 89) anomaly 250 metres in length. Anomalous zone 8 (AZ8) is the largest and strongest gold (RR equals 45) and copper (RR equals 98, 76 and 75) anomaly on the property. Located in the north-central region, due south from Aurelian's El Tigre anomaly, is 1,400 metres northwest of AZ6. This anomaly covers over 15 hectares yielding the strongest gold value on the property.
Stream sediment sampling has also detected several gold anomalies confirming the existence of nearby gold mineralization.
Chris Verrico, chief executive officer and director of Lateegra, states: "The initial exploration results are extremely encouraging, generating multiple exploration targets in a world-class district. The discovery of the nearby Fruta del Norte deposit was no accident, but rather the consequence of aggressive exploration resulting in the discovery of a large buried epithermal system. Dr. Sillitoe's recent work for Aurelain Resources at Fruta del Norte will assist the understanding of the exploration on the El Condor concession immensely. Lateegra plans to explore these anomalies aggressively."
The technical information in this news release has been reviewed by, Jeffrey Reeder, PGeo, and Luc Pigeon, PGeo, both qualified persons as defined in National Policy 43-101.
(1) MMI Manual for Mobile Metal Ion Geochemical Soil Surveys, Version 5.04, copyright Wamtech Pty. Ltd., 2004.
(2) Background concentrations and response ratios were determined using the statistical procedures discussed in the MMI Manual for Mobile Metal Ion Geochemical Soil Surveys, Version 5.04, copyright Wamtech Pty. Ltd., 2004.
(3) Anomalous zones (AZ) are defined as areas containing samples with a marked enrichment of one or more element compared with the background concentrations of the property.
© 2007 Canjex Publishing Ltd.
This was one of the best written nr I have seen in describing the science of MMI... these results are extemely good giving a very defined target of RR\'s of 35 to 50 are definit indications that there is a significant target directly under these locations.
I have not been excited about LRG in the past, but I am now..
If drilling confirm these anomily size there could be a mirror image of ARU in the making.
JMHO
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Email blast today:
3 Strong Gold / Arsenic Anomalies 3000 Meters from Aurelian\'s Fruta Del Norte World Class Discovery
Soil Anomalies are Interpreted as Upward Leakage from Blind Gold Mineralization
Same Geochemistry as Aurelians Fruta Del Norte
$3.0 Million Dollar Drill Program to Start as Soon as Possible
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News sind da, evlt. gehts heute mit Can Eröffnung wieder los.
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Monday, January 22, 2007
January 22, 2007, Vancouver, B.C.: Lateegra Gold Corp. (the "Company") and Tara Gold Resources Corp (OTC: TRGD.PK) (Frankfurt T8N) are pleased to announce that a comprehensive phase 1 surface exploration program has been completed on the Picacho Gold Mine, located 84 kilometers south of the United States border, near the town of Bacoachi, Sonora State, Mexico.
Results of the Phase 1 geochemical sampling and detailed geological mapping have identified two new large gold bearing Quartz-Breccia vein structures (Dos Amigos and Basaitegui). Both structures trend NW-SE, with individual results grading as high as 87.5 g/t Au (2.8oz/t) and 4880 g/t Ag (156.9 oz/t). Sampling was conducted over an area greater than 3000m in length (NW-SE), with the vein structures exposed up to 5m in width. Numerous samples provided assays of >2g/t Au. Samples were analyzed by ALS Chemex Ltd. of Vancouver B.C. Please refer to the attached table for the complete assays results. A map of the location of the structures is available on the companies website.
Field crews including geologists, geophysicists and a mining engineer have been mobilized to the property outfitted with a new Hyundai 16T excavator and a Longyear 38 diamond drill rig along with the necessary down-the-hole tooling. The phase two program has commenced consisting of the following:
* Ground Magnetic Geophysical Survey by Zonge Engineering and Research Organization Inc. of Tucson Arizona-USA;
* 1,000 meters of NQ diamond drilling aimed at twining historic drill holes (to verify to current standards the previous results);
* 1,000 meters of NQ diamond drilling to develop the extent of the surface structure, and;
* Surface trenching on the newly discovered targets.
Detailed geological mapping, geochemical rock sampling and surveying in concert with a complete data compilation aided development of a geological model clearly portraying 3 distinct parallel mineralized zones having a combined mineralized strike length of 8.5km, 10 times greater than that originally understood. The discovery of these new areas of mineralization is providing the Company a basis for determining the projects potential to host near surface, lower grade heap-leachable bulk tonnage gold mineralization amenable to open pit development.
Data from 22 historic diamond drill holes (drilled by Groupo Mexico and Minera Escuadra) indicates the presence of near surface low grade bulk-tonnage target. Planned phase 2 drilling will target extensions to both the known zones and newly discovered areas providing a basis for an improved understanding of the geological and structural control of the mineralization. The 22 holes drilled by Groupo Mexico and Minera Escuadra were completed prior to implementation of NI43-101 guidelines for assuring accuracy, therefore individual results, while providing valuable information to Lateegra for exploration guidance, are not deemed reliable by the Company, and are therefore not being reported.
The 2007 exploration program, planned with two phases, focuses on identifying further areas of gold mineralization while generating a N.I. 43-101 compliant resource estimate by attempting to duplicate historical data, justifying the expansion and upgrading of the company's mining and milling facilities.
The company is currently re-fitting the 250 tonne/day operation, previously recovering grades averaging 5g/t Au, 15g/t Ag and 85 % Silica, while maintaining contracted silica supply commitments with a nearby smelter.
Exploration work is being conducted under the supervision of the Company's Qualified Person, Jeff Reeder, P.Geo.
ON BEHALF OF THE BOARD OF DIRECTORS
"Chris Verrico",
CEO and Director
THis news is absolutely amazing!
Can you believe the numbers??
A TOTAL surprise!
This is going to the moon tommorrow!!!!!!
riddlethis
euer
goodman666
Einen raschen Wechsel des Anlegerverhaltens erwartet Heraeus aber nicht und sieht aus diesem Grund auch nur einen relativ moderaten Anstieg des Goldpreises voraus, nämlich im Durchschnitt um sieben Prozent 2007 und um drei Prozent 2008. Konflikte in Iran und Nordkorea oder Terroranschläge könnten diese Vorhersage allerdings durchkreuzen.
zum nachlesen
http://www.faz.net/s/...4C8806DA1763961954E~ATpl~Ecommon~Scontent.htm
und gold und öl schwingen zu neuen höhen auf
bin eben zu 0,75 auch bei lateegra eingestiegen
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vermutlich die Ruhe vor dem Sturm.
Bin zuversichtlich, bald wieder im grünen Bereich zu sein.
Gruß und allen Investierten ein schönes Wochenende
also
schaunmermal
Nun ist der Weg nach Süden offen und es kann durchaus richtig bergab gehen.
Höchstens es kommen so schnell wie möglich die Neuigkeiten.
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