Lateegra Gold Corp. Announces Commencement of Exploration Drilling at Beschefer Project, Quebec
28 Février 2011 - 2:30PM
Marketwired
Lateegra Gold Corp. (TSX VENTURE: LRG)(FRANKFURT: LTGB) ("Lateegra"
or "the Company") is pleased to announce the commencement of
exploration drilling on its Beschefer Project, Quebec.
A diamond drilling program of approximately 2,000 metres in 6
holes is planned as a first phase of exploration drilling by
Lateegra on the project. This drilling campaign is focused on
follow-up of historic ore grade gold intercepts by other operators
on the property as well as will test trends indicated from recently
completed geophysical surveying.
Lateegra's Beschefer Project is located in the north-central
portion of the prolific Abitibi Subprovince of the Canadian Shield
within the Harricana-Turgeon Greenstone Belt, approximately 10km
east of the Selbaie Mine (past production of 56.5 million tonnes
grading 0.56gpt Au, 38.1gpt Ag, 0.87% Cu, and 1.85% Zn; MRNQ, DV
2001/01), 50km northeast of the Casa Berardi Mine (in production),
and 60km east of the Detour Lake Project (in development). The
Beschefer property consists of 33 claims covering 5.3 sq. km.
Access to the property is excellent with a regional road and power
line passing 2 km north of the property and an access road
cross-cutting the property.
The Beschefer property is situated within intermediate to mafic
volcanic rocks of the Broulan Volcanic Complex on the east flank of
the Broulan batholith. Gold mineralization in the B-14 Zone as well
as elsewhere on the property is hosted by hematized, sericitized
and silicified volcanics which also contain 1 to 5% disseminated
pyrite and 2 to 15% quartz+/-carbonate veins and veinlets. This
geological setting is typical of other shear zone hosted gold
deposits throughout the Abitibi.
The B-14 Zone was discovered by Billiton Canada Inc. in February
1996 with drill hole B14-1. Subsequent drilling by Sea Green
Capital Corp. focused on follow-up in the near vicinity of drill
hole B14-35. Historic drill intercepts (uncut gold grades) on the
Beschefer property from these former operators include:
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DDH No. From (m) To (m) Gold Grade(i) (gpt) Intercept Length (m)
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B14-1 153.0 154.5 8.56 1.5
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and, 168.0 177.0 2.96 9.0
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B14-4 159.9 160.7 17.27 0.8
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B14-5 158.5 159.5 1.85 1.0
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B14-6 156.1 159.7 7.41 3.6
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including, 156.1 157.3 11.78 1.2
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and, 168.3 169.5 8.15 1.2
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and, 172.7 184.1 5.18 11.4
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including, 180.8 181.6 20.69 0.8
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B14-28 108.4 110.0 2.70 1.6
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and, 115.9 116.6 4.34 0.7
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and, 123.8 125.0 6.17 1.2
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B14-30 121.0 121.3 15.58 0.3
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B14-31 139.5 143.1 3.50 3.6
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including, 139.5 140.5 9.71 1.0
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B14-35 204.0 212.0 10.27 8.0
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including, 204.4 205.0 86.57 0.6
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B14-39 319.3 324.6 2.53 5.3
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and, 330.9 334.2 3.55 3.3
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B14-43 187.3 187.8 29.71 0.5
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and, 195.0 195.6 5.92 0.6
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SBJ-06-01 201.8 211.8 4.46 10.0
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including, 201.8 202.8 12.45 1.0
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SBJ-06-03 176.0 177.0 2.43 1.0
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and, 190.0 191.0 1.81 1.0
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and, 218.0 219.0 1.71 1.0
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and, 227.0 230.0 1.98 3.0
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and, 233.0 234.0 1.96 1.0
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(i) Note: gold grades are uncut
Since acquisition in early 2011, Lateegra has completed
linecutting, IP, and ground magnetometer surveying on the property.
A 3D geological compilation of the project is also in progress. The
relationship of the B-14 Zone intercepts with other significant
gold intercepts on the property will be examined in Lateegra's
upcoming exploration programs.
President Chris Verrico comments, "Lateegra's Beschefer Property
with its previously identified B-14 Zone holds tremendous potential
for exploration success."
"This is an important milestone for Lateegra as, along with the
recently completed drilling campaign on the DeSantis Project (LRG
Press Release Dec. 2, 2010), it represents a second step in the
significant investment of exploration expenditures on Lateegra's
properties in Ontario and Quebec. This, along with the recent
augmentation of the company's exploration team, marks the emergence
of Lateegra as a significant, active explorer in the northeastern
Ontario and northwestern Quebec gold camps."
Reporting of Historical Work
Certain of the exploration results reported on in this news
release are based on historical work by others and are identified
in the preceding as such. Those reports of work cannot and have not
been fully verified by Lateegra. Investors or potential investors
should take this into account.
Drilling, Assaying and QA/QC
The Company intends that its' exploration programs be subject to
QA/QC and security programs which conform to industry-standard best
practices and are in compliance with NI 43-101.
The current phase of diamond drilling on the Beschefer Project
is being conducted by Bradley Bros. Drilling Ltd. Analytical work
is being performed by ALS Chemex Ltd., an ISO 9001-2000 registered
laboratory with internal QA/QC procedures. Lateegra utilizes, as
part of its' QA/QC program, the insertion of standard reference
materials and blanks representing approximately 5% of the total
sample population. Drill core is sampled according to standardized
technical procedures, which include the core being sawn in half,
half of the core being retained, while the other half is sampled
for gold analysis via Fire Assay-Atomic Absorption finish using a
50g assay aliquot. Intervals where visible gold has been identified
are analyzed via gravimetric or screened metallic procedures.
Samples are securely packed for shipment utilizing security seals
noted on Chain of Custody documents, which are confirmed as intact
upon receipt at ALS's sample receiving facility.
Qualified Person
Lateegra's exploration programs are conducted under the
supervision of its Vice President of Exploration, Ms. Heather
Miree. Ms. Miree is a Qualified Person as defined by NI 43-101, and
has reviewed and approved this news release.
About Lateegra
Lateegra is a well-financed junior exploration company with gold
exploration properties primarily located in northeastern Ontario
and northwestern Quebec. The Company is currently conducting
geophysical surveying on the Beschefer Project, located near La
Sarre, Quebec and the Stoughton Project, near Lake Abitibi. In
2010, Lateegra completed over 4,000 metres of diamond drilling on
its wholly-owned DeSantis Project located within the Porcupine gold
mining district and plans to commence follow-up drilling on
DeSantis during the second quarter 2011. The Company's common
shares trade on the TSX Venture Exchange under the symbol LRG.
ON BEHALF OF THE BOARD OF DIRECTORS
Christopher Verrico, President and CEO
"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: Lateegra Gold Corp. Christopher Verrico President and
CEO 604-669-9330 or Toll Free: 1-866-669-9377 604-669-9335 (FAX)
info@lateegra.com www.lateegra.com
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