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lago dourado minerals ltd (LDM) Snapshot

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04/30/13 - C$0.14
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Market Cap
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94.3M
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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 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.

Lago Dourado Minerals Ltd. Provides Exploration Update on its Juruena Project, Brazil

Lago Dourado Minerals Ltd. has received assay results for an additional three diamond drill holes at the Arrastro Hills porphyry target at its 100%-owned Juruena Project located in Mato Grosso, Brazil. Holes JRND066 and JRND067, drilled in the central part of Arrastro Hills, and hole JRND068 (results have been received for the top 200m of this hole), the first hole drilled at the Arrastro Hills South East target, did not intercept any significant gold mineralization. Assay results for the remaining two holes drilled at Arrastro Hills South East (JRND069 and JRND070) are still pending. However, based on these initial drill results and the visual core inspection of these remaining holes, it would suggest that the alteration minerals and assemblages at Arrastro Hills and Arrastro Hills South East are a result of an intrusive heat source that is distal to or non-related to an underlying mineralized porphyry body. The Arrastro Hills Complex was identified as a potential mineralized porphyry target based on the extensive clay-silica alteration, multi-element zonation, alteration signature, variable intrusive rock types and magnetic and radiometric characteristics. In total six reconnaissance-style diamond drill holes were completed within the Arrastro Hills complex. The first three holes (JRND065, JRND066 and JRND067) targeted soil values anomalous with elements associated with the possible epithermal leakage in the central part of the hills. The second three holes (JRND068, JRND069 and JRND070) were drilled in the southeastern part of the hills to test an Au-Cu soil anomaly, strongly brecciated and silicified volcanic rocks, interpreted magnetic heat source, and a strong high temperature muscovite alteration signature identified from SWIR analysis. The six drill holes intersected acid altered silicic volcanic rocks including multiple zones containing dykes and breccia intervals, finely disseminated sulfides and sulfide-filled fractures and vein. However, the lack of gold mineralization and associated porphyry-related elements in the assays received to date downgrade the probability of intersecting a mineralized porphyry at a shallow to intermediate depth at the Arrastro Hills Complex. Based on these results, the Company will shift its focus back to the multiple high-grade gold zones previously discovered in the central part of Juruena. Future Plans: Drilling at the project has been halted and exploration work will now focus on advancing the known mineralized zones in the central part of Juruena in a cost effective manner. Previous drilling from the central area of the project has identified seven distinct mineralized zones with more than 20 intercepts with greater than 50 gram-metres gold. The two high priority zones the company will initially focus on are the high-grade mineralized zones of Querosene and Donna Maria. Querosene is a high-grade structure with more than 400 metres strike length that has returned intervals of 4m @ 32.5 g/t Au and 2m @ 47.1 g/t Au. Only eight shallow (less than 200m) diamond holes have been drilled at this zone. Donna Maria is a high-grade structure adjacent to the Crentes Zone. Historic drilling at Donna Maria returned 5.8m @ 52.4 g/t Au and 10.5m @ 14.6 g/t. The Company has drilled only one diamond drill hole at Donna Maria which returned two intervals of 1.0m @ 101.1 g/t Au and 16.0m @ 2.1g/t Au. Given the structural control of both these zones, ground magnetics will likely be a useful and cost-effective exploration tool to gain a clearer understanding of the underlying structures that host the gold mineralization.

Lago Dourado Minerals Ltd. Provides Drilling Update on the Arrastro Hills South East Porphyry Target at its Juruena Project, Brazil

Lago Dourado Minerals Ltd. has completed the first diamond drill hole at the Arrastro Hills South East porphyry target at its 100%-owned Juruena Project located in Mato Grosso, Brazil. Hole JRND068 was drilled vertically to a depth of 480m to test a strong muscovite alteration signature that corresponded with a major crosscutting fault structure and a deep seated IP anomaly. Drill core for the hole is being split and logged on site and will be shipped for fire assaying later this week. Drilling productivity has significantly improved compared to the start of the year due to the easing of the wet season and Arrastro Hills South East being much more accessible than the central part of Arrastro Hills. The next hole planned at Arrastro Hills South East (JRND069) is approximately 500m east of JRND068 and will target a phengite-rich zone that corresponds with an IP anomaly and broad Au-Cu soil anomaly. The presence of phengite is indicative of a higher temperature part of the system that may represent an exposed part of a porphyry system. A study conducted by the MDRU found a strong association between phengite and gold mineralization at known mineralized zones elsewhere at Juruena, including the Crentes, Tomate and Uiliam zones, which are located proximal to Arrastro Hills South East.

 

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