Lago Dourado Minerals Ltd.
TSX VENTURE : LDM

Lago Dourado Minerals Ltd.

September 06, 2012 06:00 ET

Lago Dourado Intercepts 59 Metres of 2.22g/t Gold Including 1 Metre of 62.60g/t Gold from Surface at Juruena Project; Hole Ends in Mineralization

TORONTO, ONTARIO--(Marketwire - Sept. 6, 2012) - Lago Dourado Minerals Ltd. (TSX VENTURE:LDM), (the "Company") has intercepted a new near-surface intrusive body from its ongoing reconnaissance-style RC drill campaign at its flagship, 100%-owned Juruena Project located in Mato Grosso, Brazil. Hole JRNRC032, drilled 300m north of the Tomate pit, intercepted 59 metres of 2.22g/t gold from surface and ended in mineralization. Key points of note are outlined as follows:

  • Mineralization mostly consists of disseminated sulfides and is not vein controlled. Gold grade continuity throughout the hole was excellent (see Figure A for a Strip Log).

  • The mineralized zone is located on the southeastern edge of the central IP anomaly and along strike of the Tomate Zone (JRND050 intercepted 7.5 metres of 6.30g/t gold). The zone remains unconstrained to the east and 300 metres to the north and west (bounded by Crentes and Uiliam).

  • A narrow high-grade zone associated with a geological contact zone was intercepted at a depth of 43 metres (1 metre of 62.60g/t gold with visible gold - true width is unknown).

  • From 44 metres to 54 metres, the drill hole encountered a highly-altered intermediate porphyry dyke that averaged 2.91g/t over the 10 metres. The nature of mineralization is a positive indicator that this new zone could be continuous in strike, dip and grade.

Recent exploration results provide further support that Juruena belongs to a class of gold-rich porphyry systems. The geochemical and geophysical data suggest the main intrusive body associated with this system is located within the Crentes-Tomate-Mauro-Chico boundary as evidenced by the following (see Figure B for a visual summary):

  • Large (>1km x 1.5km), ovoid chargeability anomaly;

  • Associated 'porphyry' and 'epithermal' multi-element soil anomalies; and

  • Existence of multiple high-grade zones or 'offshoots' adjacent to the main IP anomaly (Crentes, Tomate and Mauro)

Follow up RC drilling is being conducted to the north and west of JRNRC032 to determine the size extent of this new mineralized intrusive body and its possible association to an interpreted larger mineralized porphyry body at depth beneath the central IP anomaly. The diamond rig is scheduled to recommence drilling in late September and will initially target the depth continuity of this zone.

Table 1 - Juruena Assay Result Summary:
Hole Number Zone From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
Hole ended in mineralization
JRNRC032 Tomate 0 59 59 2.22 0.65 Y
including 23 55 32 3.60 1.06
including 43 44 1 62.60 14.34
JRNRC033 Tomate 0 9 9 0.29 nsm
45 57 12 0.33 0.32
Note - Intervals are based on a bottom cut-off of 0.15g/t gold and do not necessarily indicate true widths.

Qualified Person

Murray Paterson, P.Geo, Vice President Exploration and Development for Lago Dourado Minerals Ltd, is the Qualified Person, within the meaning of NI 43-101,who reviewed the technical data in this news release. Samples were fire assayed by Acme Analytical Laboratories S.A. in Santiago, Chile.

About the Company:

Lago Dourado Minerals Ltd. is a Canadian mineral exploration company focused on advancing its 100%-owned Juruena gold project in the state of Mato Grosso, Brazil. Extensive gold mineralization has been identified over 15 square kilometres of the property, and at least 450,000 oz of gold has been mined from surface workings. The Company has conducted systematic exploration programs over portions of the property and priority target areas will be drill tested with a Phase 2 drill campaign that is expected to be ongoing through 2012.

For further information about the company, please visit www.lagodourado.com or www.sedar.com.

Forward-Looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although Lago Dourado believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Lago Dourado's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Lago Dourado does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

To view the maps associated with this press release, please visit the following links:

Figure 1: http://media3.marketwire.com/docs/LDM95Figure1.pdf

Figure 2: http://media3.marketwire.com/docs/LDM95Figure2.pdf

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.

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