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Lateegra Strengthens Board
VANCOUVER, BRITISH COLUMBIA, Aug. 23, 2010 (Marketwire) -- Lateegra Gold Corp. (the "Company") (TSX VENTURE:LRG)(FRANKFURT:LTGB) is pleased to announce that Mr. Peter Crossgrove and Mr. Tim Ryan have been appointed to the Company's Board of Directors.
Mr. Crossgrove is currently a director of Lake Shore Gold Corp having joined its board in November, 2009, following completion of Lake Shore's business combination with West Timmins Mining Inc., where he also served as a director. In addition, Mr. Crossgrove is currently Chairman of Excellon Resources Inc. and Brush Creek Corp, and sits on various boards of directors including Barrick Gold, Quadra Logic Technologies, Pelangio Mines, Detour Gold Corporation and Dundee Realty. He is the former Chairman and founder of Masonite International Inc., and previously served as CEO and Vice Chairman of Placer Dome Inc. Mr Crossgrove is a Member of the Order of Canada, and a recipient of the Order of Ontario, and the Queens Golden Jubilee Medal.
Mr. Ryan is currently a director and Chairman of the audit committee of Excellon Resources, a TSX listed precious metal producer with operations in Mexico and is founder and President of First General Securities Inc. Mr. Ryan holds an M.B.A. from the University of Western Ontario and has served as a director and/or officer of a number of public and crown corporations including West Timmins Mining Corp. (WTM), sitting as an independent director prior to its merger with Lakeshore Gold Corp.
"Both Mr. Crossgrove and Mr. Ryan have extensive business experience, and are knowledgeable of the West Timmins Mining Camp. We are extremely pleased to be able to add these two senior mining executives to the Board of Directors," said Chris Verrico, President and CEO of the Company. "Their combined past accomplishments and demonstrated ability to work as a team will complement the wide range of expertise necessary to help direct the Company through the coming months as management demonstrates the inherent value contained at its DeSantis Mine Project. Infrastructure at the DeSantis Mine includes a 1200 foot three compartment shaft refurbished in the mid 80's by Noranda and is capable of hoisting 1500 tonnes/day. The replacement costs for this piece of key infrastructure is well over ten times the Company's present day market capitalization and will potentially enable near term future gold production. Initially targeting historic gold resources, most recently identified by previous operators Noranda Exploration and Stan West Mining Corp., while unlocking all this inherent value for the benefit of our shareholders, is a task made much easier with help from mining executives such as Mr. Ryan and Mr. Crossgrove."
The DeSantis Property is located immediately north of the Destor-Porcupine Fault Zone, 14 km northeast of Lake Shore Gold Corp's Timmins West Gold project and situated immediately east of and on strike with the Aunor, Delnite, Buffalo Ankerite and Preston Dome Mines trend where in excess of 20 million of the historic 70 million oz.'s of Gold production occurred within the prolific Timmins, Ontario Gold mining district.
In addition, the company announces Mr. Mitchell Adam has resigned as director of the Company and wishes to thank Mr. Adam for his services.
The Company also announces that it has granted incentive stock options under its 2010 stock option plan to its directors, officers and consultants for the purchase of up to 200,000 common shares of the Company for a period of two years at a price of $0.30 per share.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Verrico, President and CEO
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
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.
Chris Verrico Lateegra Gold Corp. 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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der wert macht wirklich freude, ich denke erst der anfang.
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Lateegra Hits Target in Timmins, Intersects 7.88 g/t Gold Over 5.18 Metres
Lateegra Gold Corp. (the "Company") (TSX VENTURE:LRG)(FRANKFURT:LTGB) announces
the results of the six hole drill program recently completed on the DeSantis
Mine project in the West Timmins area, Ontario (see press release dated July 15,
2010). The DeSantis Mine lies immediately north of the Destor Porcupine Fault
Zone, and is located midway between the Hollinger Gold Mine and Lake Shore's
Timmins West Mine. The property consists of roughly 818 hectares and covers a
regional strike length of approximately 5.1 kilometres.
The objective of the first phase of drilling was to confirm the continuity and
grade of gold mineralization as reported in historic underground and surface
drilling. Further drilling, which is expected to commence within the next few
days, will be aimed at confirming and expanding known gold mineralized zones
with the overall intent of preparing a revised and updated NI 43-101 compliant
resource estimate.
The property hosts at least 5 known gold bearing zones, including the Contact
Zone, Hydrothermal Zone, Albitite Zone, Arsenopyrite Zone, and East Pit area.
Subsequent to surface and underground exploration in the 1980's, Noranda
Exploration and Stan West Mining Corp reported reserve estimates for two of the
mineralized zones (the Hydrothermal and Albitite zones) which were accessible by
existing underground workings. The reserve estimate for the Albitite Zone
(between the 715' to 1,175' levels), as calculated by Stan West and classified
as "probable" stood at 72,212 tons with an average grade of 0.229 oz Au per ton
(Derry, Michener, Booth & Wahl, 1988). In 1989, Stan West (van Hees, E. H.,
1989) calculated a reserve estimate for the Hydrothermal Zone of 129,000 tons
with a cut grade 0.265 oz Au per ton (cut to 1 ounce), or 334,308 tons grading
0.19 opt (cut to 3.50 ounces). (See Note 1)
The first three holes (DS-10-1, 2 & 3) were drilled primarily to test the
Albitite and Arsenopyrite Zones in an area located approximately 250 meters
south of the Number 2 shaft (or main shaft). These three holes were collared on
the same set up and drilled at an azimuth of 330 degrees, inclined at -80, -76,
and -85 degrees respectively. Significant gold mineralization was encountered in
all three holes, including 7.88 g/t Au over a core length of 5.18 metres.
Holes DS-10-4, 5 & 6 were drilled to confirm the tonnage and grade potential of
the Hydrothermal Zone (HTAZ) in an area approximately 210m west of the main
shaft. These three holes were collared on the same set up and were drilled due
north, inclined at -75, -62 and - 67 degrees respectively. Hole DS-10-06
intersected a broad zone of gold mineralization, grading 2.71 g/t Au over a core
length of 19.2 metres including 6.61 g/t Au over a core length of 2.44 metres.
Holes DS-10-04 and DS-10-05 intersected broad zones of anomalous gold
mineralization with values up to 2 g/t Au over a core length of 0.76 metres
(DS-10-04) and 2.36 g/t Au over a core length of 0.76 metres (DS-10-05).
Significant assay results are summarized in the following table:
--------------------------------------------------
Core
Length
Hole Degrees Zone From To Au g/t metres
--------------------------------------------------
DS-10-01 -80 degrees Arsenopyrite Zone 297.49 299.01 1.42 1.52
--------------------------------------------------
Albitite Zone 446.84 449.89 5.73 3.05
--------------------------------------------------
DS-10-02 -76 degrees Arsenopyrite Zone 290.02 290.63 25.00 0.61
--------------------------------------------------
Albitite Zone 433.88 439.06 7.88 5.18
--------------------------------------------------
--------------------------------------------------
DS-10-03 -85 degrees Arsenopyrite Zone 322.45 324.61 3.35 2.16
--------------------------------------------------
DS-10-06 -67 degrees HTAZ Zone 212.14 231.34 2.71 19.2
--------------------------------------------------
Including 212.14 222.05 3.39 9.91
--------------------------------------------------
228.90 231.34 6.61 2.44
--------------------------------------------------
"We are extremely pleased with this first phase of drilling as these results
represent camp grade over mineable widths and the gold mineralization is located
within easy striking distance to the existing underground infrastructure,"
stated President and CEO, Christopher Verrico. "We are looking forward to
further proving up and developing the historic gold zones on the DeSantis with
the next phase or drilling to begin within the next few days."
The technical information in this news release has been prepared in accordance
with the Canadian regulatory requirements set out in National Instrument 43-101
and reviewed on behalf of the Company by Robert Duess, P.Geo., a Qualified
Person.
Note 1: The above reserve estimates generated by Noranda / Stan West are
historic in nature and do not have currently demonstrated economic viability,
and are considered to be historical resources. Although the reserve estimates
are relevant, they have not been verified. A qualified person has not done
sufficient work to classify the historical estimates as current mineral
resources or mineral reserves. The Company is not treating the historical
estimates as current mineral resources or mineral reserves and therefore the
historical estimates should not be relied upon.
Note 2: All split and/or sawn core drill were submitted to SGS Mineral Services
for analyses. All gold assaying was performed using a 30 g industry standard
fire assay with an AA and / or gravimetric finish. Widths as reported as core
lengths
ON BEHALF OF THE BOARD OF DIRECTORS
Christopher Verrico, President and CEO
Cautionary note: This report contains forward looking statements, particularly
those regarding cash flow, capital expenditures and investment plans. Resource
estimates, unless specifically noted, are considered speculative. The company
has not filed a National Instrument 43-101 report on any property, but will do
so as soon as the information is available. Any and all other resource or
reserve estimates are historical in nature, and should not be relied upon. By
their nature, forward looking statements involve risk and uncertainties because
they relate to events and depend on factors that will or may occur in the
future. Actual results may vary depending upon exploration activities, industry
production, commodity demand and pricing, currency exchange rates, and, but not
limited to, general economic factors. Cautionary Note to US investors: The U.S.
Securities and Exchange Commission specifically prohibits the use of certain
terms, such as "reserves" unless such figures are based upon actual production
or formation tests and can be shown to be economically and legally producible
under existing economic and operating conditions.
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wie mit den paar shares der kurs nach unten geführt wird, die frage ist nur, für wen ? Für mich auf jeden fall.0
VANCOUVER, BRITISH COLUMBIA, Dec. 2, 2010 (Marketwire) -- Lateegra Gold Corp. (TSX VENTURE:LRG)(FRANKFURT:LTGB) announces the results from the latest 9 drill holes (DS-10-7 to DS-10-15) that were recently completed on the DeSantis Project. Since June 2010, a total of 15 holes totalling 5888 metres have been drilled with the primary objective to confirm the continuity and grade of gold mineralization reported in historic underground and surface drilling. The DeSantis Mine lies immediately north of the Destor Porcupine Fault Zone, and is located approximately mid way between the Hollinger Gold Mine and Lake Shore Gold's Timmins West Mine. The property consists of approximately 818 hectares and covers a regional strike length of approximately 5.1 kilometres.
Four of the nine holes (DS-10-7 to DS-10-10) were drilled to further test the Hydrothermal Zone (HTAZ) at depths varying from 175 to 225 metres vertically below surface. These holes were collared approximately 150 to 200 metres west of the Main Shaft, with holes DS-10-8 and DS-10-9 drilled from the same set up. All holes were drilled from south to north. The HTAZ was intersected in each hole, consisting of zones of strong deformation and alteration, including quartz carbonate veining, tourmaline, pyrite, arsenopyrite and anomalous gold mineralization. Significant results are summarized in the following table.
--------------------------------------------------Hole Dip Zone From To Core Length Au g/t-------------------------------------------------- -60 DS-10-08 degrees N HTAZ 195.83 203.91 8.08 1.71-------------------------------------------------- including 200.71 203.91 3.20 3.18-------------------------------------------------- -70 DS-10-09 degrees N HTAZ 200.41 201.63 1.22 1.98-------------------------------------------------- -70 DS-10-10 degrees N HTAZ 214.27 217.02 2.75 1.47--------------------------------------------------Note: DS-10-07 intersected anomalous gold values, up to 0.88 g/t over a corelength of 0.61 metres. --------------------------------------------------
Five holes, DS-10-11 to DS-10-15 were drilled to test the "Green Carbonate" and "Albitite" zones at depths ranging from 300 to 400 metres vertically below surface, and approximately 20 to 70 metres east of the Main Shaft. Holes DS-10-11 and DS-10-12 veered to the west, and intersected a diabase dike prior to reaching target depth. Holes DS-10-14 and DS-10-15 intersected a highly altered, fractured porphyry system (termed "white albitite zone" in historical drilling) which intrudes a broad zone of carbonate and fuchsite altered ultramafics rocks. Gold mineralisation was found to occur within the porphyry and altered host rock. Significant results are summarized in the following table.
--------------------------------------------------Hole Degrees Zone From To Core Length Au g/t-------------------------------------------------- -72 DS-10-13 degrees Green Carbonate 336.35 337.72 1.37 2.37-------------------------------------------------- -58 DS-10-14 degrees Porphyry System 376.43 381.46 5.03 0.82-------------------------------------------------- including 378.41 379.02 0.61 3.65-------------------------------------------------- -74 DS-10-15 degrees Porphyry System 357.3 362.7 5.40 0.94-------------------------------------------------- Porphyry System 373.23 375.97 2.74 3.78-------------------------------------------------- Porphyry System 386.49 394.56 8.07 0.93--------------------------------------------------Note: Holes DS-10-13 and DS-10-14 were drilled from the same set up. --------------------------------------------------
The geometry of this gold bearing porphyry system is poorly understood due to limited drilling in the area. Follow up exploration on this zone, especially at depth, will be the primary focus of the next phase of drilling, expected to commence in January 2011.
"A sizeable pregnant gold system exists on the DeSantis property as recent drilling has encountered significant gold mineralization in a variety of geological settings," stated President and CEO, Christopher Verrico. "We are particularly excited about the gold mineralization associated with the altered porphyry; a geological setting similar to several of the major producers in the Timmins Camp."
All split and/or sawn core drill samples were submitted to Swastika Laboratories Ltd, Swastika Ontario, for analysis. All gold assaying was performed using a 30 g standard fire assay with an AA and/or gravimetric finish.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Robert Duess, P.Geo., a Qualified Person.
ON BEHALF OF THE BOARD OF DIRECTORS
Christopher Verrico, President and CEO
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
"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."
Lateegra Gold Corp. President and CEO 604-669-9330 or Toll Free 1-866-669-9377 604-669-9335 (FAX) info@lateegra.com www.lateegra.com
drückt hoffentlich den kurs noch etwas, im januar geht es weiter.
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Dusan Berka ist Preäsident von Megastar und Director von Lateegra.
http://www.lateegra.com/corporate/management.html
Lateegra hat genug Geld.
http://tmx.quotemedia.com/...le.php?newsid=36791189&qm_symbol=LRG
Lateegra expandiert nach Quebec.
http://tmx.quotemedia.com/...le.php?newsid=37529793&qm_symbol=LRG
Lateegra ist 15 Mio wert, Megastar nur 2,5 Millionen!
Würde mich nicht wundern, wenn die beiden fusionieren, so wie VG Gold und Lexam Gold.
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Bei einer Sonderversammlung in Toronto Ende Juli hatten die Aktionäre von Lateegra mit 99,98% für die Transaktion gestimmt. Die Aktionäre von Lateegra erhalten je Lateegra-Stammaktie 0,54 einer Stammaktie von Excellon.