Lateegra optionee MPH hires KTTM for survey at M-10
2007-11-06 10:35 ET - News Release
Mr. Chris Verrico reports
AGREEMENT WITH KTTM GEOPHYSICS TO CONDUCT SURVEY ON M-10 CONCESSION, ECUADOR
Lateegra Gold Corp. has received the following update from MPH Ventures Corp. concerning the company's M-10 concession located in the Pinchincha province of Ecuador.
MPH has signed an agreement with KTTM Geophysics to conduct an induced polarization chargeability/resistivity and magnetometer survey on its M-10 concession. The 5,600-hectare property lies 50 kilometres west of Quito, Ecuador.
The M-10 property lies within the intraoceanic island arc sequence of the Machuchi unit approximately five kilometres north, along strike of the La Plata volcanogenic massive sulphide deposit, which is contained within the same north-south-trending stratigraphy.
The exploration activities to date have concentrated on geological mapping and sampling. The exploration work programs have identified two areas of particular interest. The North Grid area lies immediately south of the E-1 concession owned and operated by Avalanche Minerals Ltd. Sampling has returned rock chip and float samples in excess of 20 grams per tonne gold as well as 0.12 per cent copper and 20 parts per million molybdenum.
A grid consisting of approximately 25 line kilometres is under way on the North zone where the geophysical program will commence.
Significant gold, copper and molybdenum samples have also been taken from the central portion of the M-10 concession and a second grid also of approximately 25 line kilometres will be installed in the Central zone to provide IP resistivity and magnetometer coverage over this area.
Lateegra Gold has expanded its holdings in Ecuador and acquired a jointly owned interest in the Efyza II concession contiguous with the M-10 concession. This additional acquisition has solidified the company's land position in this very prospective area of Ecuador.
Lateegra Gold anticipates that the current geophysical survey will identify prospective drill targets in both the North zone and the Central zone.
Samples are sent to either ALS-Chemex or Inspectorate del Ecuador receiving facility in Quito, Ecuador. Both companies forward pulps onto their laboratories in Lima, Peru, for analysis. Assaying consists of ICP multielement analysis with overlimit checks competed for silver (over 100 grams per tonne), copper (over 1 per cent), molybdenum (over 1 per cent), lead (over 1 per cent) and zinc (over 1 per cent) by atomic absorption (AA) spectrometry. Gold analysis was completed using fire assay technique. The quality-control protocols that are in place consist of insertion of one blank at least every 20 samples and a field or lab duplicate every 20 samples. In addition, standard reference material are inserted once every 20 samples. The exploration programs in Ecuador are under the supervision of MPH Ventures' vice-president of exploration, Allen Cole.
Dale Schultz, PGeo, and managing director/chief consultant of Buscore International Consulting, has been retained by MPH Ventures to provide qualified person services in compliance with National Instrument 43-101.
We seek Safe Harbor.
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