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lago dourado minerals ltd (LDM) Snapshot

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03/19/14 - C$0.05
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lago dourado minerals ltd (LDM) Details

Lago Dourado Minerals Ltd. engages in the acquisition, exploration, and development of mineral properties in Brazil. It explores primarily for gold. The company, through its subsidiaries, owns a 100% interest in 26 exploration licences in the Juruena property that covers an area of 15 square kilometers and is located in the state of Mato Grosso. Lago Dourado Minerals Ltd. was incorporated in 2009 and is headquartered in Toronto, Canada.

Founded in 2009

lago dourado minerals ltd (LDM) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: C$200.0K
Chief Financial Officer
Total Annual Compensation: C$48.8K
Vice President of Exploration and Development
Total Annual Compensation: C$200.0K
Compensation as of Fiscal Year 2013.

lago dourado minerals ltd (LDM) Key Developments

Lago Dourado Minerals Ltd., Special/Extraordinary Shareholders Meeting, Jun 25, 2014

Lago Dourado Minerals Ltd., Special/Extraordinary Shareholders Meeting, Jun 25, 2014., at 11:00 US Eastern Standard Time. Location: Cassels Brock & Blackwell LLP, 2100 Scotia Plaza. Agenda: To consider and approve the special resolution relating to what may constitute the sale of all or substantially all of the assets of the company; and to transact such other business as may properly come before the meeting or any adjournment thereof.

Lago Dourado Mulls Acquisitions

Lago Dourado Minerals Ltd. (TSXV:LDM) has signed a definitive agreement relating to the sale of its Juruena and Novo Astro projects to Crusader Resources. Forbes Gemmell, President & Chief Executive Officer, said, "The sale of our Brazilian projects provides the Company with a material upfront cash injection while the share consideration will provide ongoing leverage to any exploration or production success that Crusader may achieve at Juruena and Novo Astro. This is further complemented by the excellent track record Crusader has thus far demonstrated in Brazil. Moving forward Lago Dourado will be focused on acquiring or joint venturing new projects in the mining space at a time when a significant number of opportunities are presenting themselves due to the recent downturn in the industry."

Lago Dourado Minerals Provides Exploration Update

Lago Dourado Minerals Ltd. announced exploration updates on its Juruena project and its new Novo Astro target, a prolific set of artisanal workings positioned 28km along trend from Juruena. Juruena Project - Drilling at the Juruena project was halted in May 2013 upon the completion of the Phase 2 diamond drill program. The Phase 2 drill program was focused on conceptual porphyry targets, in particular the central IP anomaly, bounded by the Crentes, Uiliam & Chico mineralized zones, and the Arrastro Hills target, an extensive lithocap in the northwest of the property. The lack of gold mineralization and associated porphyry-related elements in the assays from these target zones downgraded the probability of intersecting a mineralized porphyry at a shallow to intermediate depth at both the central IP anomaly and the Arrastro Hills Complex. Despite this, the Phase 2 program was successful in identifying a new high grade structure within close proximity to the Uiliam Zone, where hole JRND062 returned an intercept of 9m @ 15.39g/t, and in confirming the presence of a broad and persistently mineralized zone at Uiliam, where JRND059 returned an intercept 158m @ 0.59g/t Au. The Company has now completed two diamond drill programs at Juruena totaling 22,000 metres and one RC drill program totaling 6,600 metres. These drill programs in conjunction with 15,000 metres of historical drilling have resulted in the discovery of six distinct mineralized zones, including five near-surface zones all with excellent resource potential, and returned more than 20 intercepts with greater than 50 gram-metres gold. Novo Astro - Over the last 12 months the Company has been steadily advancing the Novo Astro target, a prolific set of artisanal workings positioned 28km southeast and along trend from Juruena. Novo Astro is interpreted to be a classical lode-style structural system with gold hosted within intensely formed shear zones and sheeted veins. The mineralized system is large, based on a contiguous gold-in-soil anomaly of 2km by 2km, and hosts high-grade gold zones, based on assay values of rock chip samples.


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