News Lago Dourado (LDM.V) Discovers New Gold Zone: Intercepts 13 Metres of 4.00g/t Gold and 57 Metres of 1.52g/t Gold From Surface at Mauro, Juruena Project, Brazil
TORONTO, ONTARIO--(Marketwire - Aug. 28, 2012) - Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) (the "Company") has discovered a new mineralized zone from its ongoing reconnaissance-style RC drill campaign at its flagship, 100%-owned Juruena Project located in Mato Grosso, Brazil. The discovery of the Mauro Zone is particularly encouraging due to the presence near-surface of higher grade mineralization within a lower grade halo. The Mauro Zone is located adjacent to the new major porphyry target identified in the recently completed IP survey and is proximal to the Uiliam zone, where Hole JRND046 intercepted 216 metres of 0.55g/t gold (see Figure A). Assay highlights from this zone include:
•Hole JRNRC014 intercepted 57 metres of 1.52 g/t gold from surface including 1 metre of 60.70 g/t gold;
•Hole JRNRC010 intercepted 13 metres of 4.00 g/t gold including 2 metres of 20.90 g/t gold;
•Hole JRNRC011 intercepted 22 metres of 1.11g/t gold from surface including 1 metre of 16.30g/t gold.
"The existence of higher grade mineralization close to surface has positive implications for the resource potential of the Mauro Zone and also adds another zone to the potential resource base being systematically compiled by our exploration team. We look forward to receiving additional RC results of the main porphyry targets as well as to the deeper testing of these targets with the recommencement of diamond drilling in September," commented Forbes Gemmell, CEO.
High-grade near-surface mineralization at Mauro is predominantly associated with supergene enrichment but also includes primary mineralization within the host rock. The mineralized zone at Mauro has been identified over an area of 300 metres by 150 metres with ten of the 11 holes drilled at this zone intersecting gold mineralization and with three holes ending in mineralization (see Figure B). The zone remains largely untested and there is excellent exploration potential given the gold-in-soil anomaly that led to the identification of the Mauro Zone continues approximately 500 metres to the north and 500 metres to the south.
Arrastro Target
Drill hole JRNRC007 at Arrastro Sul, a new and previously untested zone adjacent to the south of the Arrastro Hills Porphyry complex, intercepted 65 metres of 0.21g/t gold near-surface and 22 metres of 0.46g/t gold at the bottom of the hole. The hole was mineralized throughout. Its close proximity to the Arrastro Hills porphyry system indicates that this large system (5km by 2.5km) is highly likely to contain multiple mineralized bodies. Arrastro Sul consists of a large Au-Mo-Cu soil anomaly that corresponds with an ovoid magnetic feature (+600m) which is intersected by the main Juruena Fault. Mineralization consists of finely disseminated sulfides within a moderately altered, fine grained mafic intrusive rock with an intensely altered, fine grained felsic intrusive unit encountered towards the bottom of the hole where higher gold grades were reported.
Five RC holes were drilled at the Arrastro SE porphyry target with only JRNRC004 intercepting gold mineralization (3 metres of 0.75g/t gold and 1 metre of 3.61g/t gold). All holes were drilled prior to the completion of the IP survey and were drilled outside the zone that demonstrated the strongest chargeability anomaly. Hole JRNRC004 was the closest hole to the IP anomaly (100m away) and gold mineralization in the hole was associated with sulfide veinlets, a positive indicator that the IP anomaly lies on mineralization. Follow up RC holes have been designed to test the four main IP anomalies at Arrastro Hills and will be completed in the coming weeks.
Table 1 - Juruena Assay Result Summary:
Hole Number
Zone
From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
Hole ended in
mineralization
JRNRC001
Arrastro Sul
0
25
25
0.16
0.08
JRNRC002
Arrastro SE
No significant mineralization
JRNRC003
Arrastro SE
No significant mineralization
JRNRC004
Arrastro SE
28
31
3
0.75
0.26
46
47
1
3.61
1.40
JRNRC005
Arrastro SE
No significant mineralization
JRNRC006
Arrastro SE
No significant mineralization
JRNRC007
Arrastro Sul
4
69
65
0.21
0.34
Y
94
116
22
0.45
0.60
JRNRC008
Mauro
0
19
19
0.48
0.27
Y
40
44
4
1.18
5.89
JRNRC009
Mauro
0
8
8
0.36
nsm
Y
33
37
4
0.39
0.65
JRNRC010
Mauro
0
14
14
1.07
0.58
43
56
13
4.00
0.52
including
43
45
2
20.90
2.29
JRNRC011
Mauro
0
22
22
1.11
0.57
including
12
13
1
16.30
3.65
JRNRC012
Mauro
14
19
5
0.70
nsm
JRNRC013
Mauro
34
40
6
0.27
nsm
Y
JRNRC014
Mauro
0
57
57
1.52
0.28
including
10
11
1
60.70
5.17
JRNRC015
Mauro
0
21
21
0.27
nsm
JRNRC016
Mauro
20
21
1
2.49
0.47
29
31
2
0.88
0.21
JRNRC017
Mauro
33
36
3
0.86
0.44
JRNRC018
Mauro
45
47
2
1.00
0.29
Note - Intervals are based on a bottom cut-off of 0.15g/t gold and do not necessarily indicate true widths.
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.