Lago Dourado Minerals Ltd.

Lago Dourado Minerals Ltd.

December 16, 2010 08:00 ET

Lago Dourado Discovers Major Gold-In-Soil Anomaly More Than 4km Long Directly South Of Existing Workings

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2010) - Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) (the "Company") is pleased to announce that a major gold-in-soil anomaly extending more than 4km long and 700m wide has been discovered at its flagship Juruena property located in MatoGrosso, Brazil. The anomaly is particularly encouraging as the trend (north-west) appears to be relatively well defined and corresponds to a regional lineament and the contact zone between the two dominant geological blocks in the area. Of further note, the anomaly is located on an elevated part of the property and has not been subject to artisanal mining suggesting that the soil anomalies are in-situ geochemical anomalies. This new Gold-In-Soil anomaly is located directly south of the central core area, an area that has been subject to decades of extensive artisanal mining (see Figure A).

In addition to the above, the recently completed reconnaissance soil survey programs have also identified anomalous zones in the far west of the property (known as the Matador target) and in the eastern portion of the property (known as the Novo Astro target) (see Figure B). Both areas are adjacent to or surrounding historic and current artisanal activity.

In an effort to consolidate its land ownership package on this prolific mineralised geological belt, the Company is also pleased to announce that it has expanded its land package at Juruena from 50,000ha to 70,000ha with the granting of additional exploration licences to the south of existing licences.

Qualified Person

Murray Paterson, Vice President Exploration and Development for Lago Dourado, is the Qualified Person who supervised the preparation of the technical data in this news release.

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 MatoGrosso, 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.

To view the two figures, please visit the following links:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

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