Lateegra Gold Corp. Announces Commencement of Exploration Drilling at Beschefer Project, Quebec
28 Februar 2011 - 1:30PM
Marketwired Canada
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
Lateegra Gold Corp Com (TSXV:LRG)
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