Lago Dourado Minerals Ltd.

Lago Dourado Minerals Ltd.

December 07, 2010 08:00 ET

Lago Dourado Commences Drilling on Its Juruena Property

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2010) - Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) (the "Company") is pleased to announce that drilling has commenced on its flagship Juruena Project located in the state of Mato Grosso, Brazil. Phase I drilling will consist of a 12,000 metre program (approximately 60 holes) over the next 9 months and will target gold mineralization to a depth of approximately 200m. There is currently one drill rig turning at Juruena with a second rig expected to be added by the end of the first quarter 2011. The drill program is being conducted by Energold Drilling Corp.

Initial holes will target mineralized zones that were drilled on the property in the 1990s from which the core is not available. Structural and geological logging from the recovered core will aid in better understanding the characteristics of the mineralization and the controls on gold distribution at Juruena. Drilling to test several other known mineralized zones that have not been drill tested as well as targets identified by the recently flown airborne magnetic and radiometric surveys will commence in early 2011. The company anticipates receiving the results from these surveys by the end of December 2010. 

About the Company

Lago Dourado Minerals Ltd. is a Canadian mineral exploration company focused on advancing the Juruena Project, an extensive gold mineralization system located in the State of Mato Grosso, Brazil. At least 0.5Moz have been mined from surface workings over an area spanning more than 10sq km, most of which remains untested. The Company is currently conducting a Phase I drill campaign on the property. The Company also controls the Jauru Project, an earlier stage gold project located on a prospective belt in the south of Brazil.

Contact Information

  • Lago Dourado Minerals Ltd.
    Forbes Gemmell
    President and Chief Executive Officer
    (416) 368-5005