Tuesday 6th December 2016

Resource Clips


Posts tagged ‘Lago Dourado Minerals Ltd (LDM)’

Lago Dourado CEO Forbes Gemmell on Brazil gold assays of 9.82 g/t over 10m

April 20th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningLago Dourado Minerals Ltd TSXV:LDM announced assays from its Jauro project in Mato Grosso, Brazil. Results include

1.25 g/t gold over 4 metres
2.35 g/t over 11 metres (including 11.19 g/t over 2 metres)
1.44 g/t over 6 metres
1.03 g/t over 4 metres
9.82 g/t over 10 metres (including 92.6 g/t over 1 metre)
1.4 g/t over 8 metres
1.67 g/t over 43 metres (including 2.87 g/t over 11 metres)

President/CEO Forbes Gemmell tells ResourceClips.com, “Jauro is on a greenstone belt in the south of Brazil. There was some drilling done by BP in the 1980s—they drilled about 80 holes and had some encouraging hits. No real exploration work has been done since then. So we took over the project a couple of years ago, completed a soil sampling program over the main area of interest and also did an airborne survey—so we’ve done a magnetics and radiometrics interpretation—and recently completed a 1,600-metre Phase 1 drill program.

Hitting such intercepts as 43 metres of 1.67 grams and 10 metres of 9.82 grams, it obviously shows that there is gold in the system—Forbes Gemmell

“I thought the assays were very encouraging given the limited amount of data that was available,” Gemmell continues. “Hitting such intercepts as 43 metres of 1.67 grams and 10 metres of 9.82 grams, it obviously shows that there is gold in the system, and the key now for us is to get a better understanding of the main structural controls. That’s where methods such as trenching, as well as an IP survey, should give us a better feel, because it is an orogenic deposit, which tends to be controlled by structure or contact zones. Given that work is yet to be done, getting such good hits over very good widths is very encouraging.

“We’re looking to do some of that followup work in terms of trenching and some IP over the next few months. Any Phase 2 drilling [at Jauro] would likely get started at the end of the year. It’s too early [for a resource estimate]. The thing to keep in mind is that Juruena is our flagship project, and that is where most of our money is getting invested, but based on early results I think there’s exceptional optionality at Jauro.”

Regarding the company’s progress at its Juruena project, Gemmell says, “We’ve just started up our Phase 2 drill program. The big shift there has been the identification of a potential porphyry/epithermal system, which is a bit different from the geological model we started with. So the key there is doing some IP-type work to identify the sulphides. The IP’s starting in a couple of weeks, and once we get the results back from that we’ll test those porphyry-type targets. In the meantime, the Phase 2 drilling is going to do some followup holes at Uiliam, which is where we hit 216 metres of 0.55 g/t gold.

“We feel we’ve identified a couple of zones with resource potential [at Juruena] just based on some of the results from the Phase 1 drilling, but drilling up a resource there isn’t a priority for us. We think there are bigger prizes to be had. This potential for porphyry-type deposits on the property—that’s where you can easily add ounces. So that is going to be our priority for Phase 2: testing these porphyry targets rather than coming in and doing infill [work] to try and drill off a resource.”

Gemmell concludes, “We just completed a $9 million financing in the last few weeks. That should fund us through our Phase 2 drill program at Juruena, which should be the next 12 months.”

View Company Profile

Read more about Lago Dourado Minerals

Contact:
Forbes Gemmell
President/CEO
416.368.5005

by Ted Niles

Lago Dourado reports Brazil Gold Assays up to 9.82 g/t over 10m

April 18th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningLago Dourado Minerals Ltd TSXV:LDM announced assays from its Jauro project in Mato Grosso, Brazil. Results include

1.25 g/t gold over 4 metres
2.35 g/t over 11 metres (including 11.19 g/t over 2 metres)
1.44 g/t over 6 metres
1.03 g/t over 4 metres
9.82 g/t over 10 metres (including 92.6 g/t over 1 metre)
1.4 g/t over 8 metres
1.67 g/t over 43 metres (including 2.87 g/t over 11 metres)

President/CEO Forbes Gemmell tells ResourceClips.com, “Jauro is on a greenstone belt in the south of Brazil. There was some drilling done by BP in the 1980s—they drilled about 80 holes and had some encouraging hits. No real exploration work has been done since then. So we took over the project a couple of years ago, completed a soil sampling program over the main area of interest and also did an airborne survey—so we’ve done a magnetics and radiometrics interpretation—and recently completed a 1,600-metre Phase 1 drill program.

Hitting such intercepts as 43 metres of 1.67 grams and 10 metres of 9.82 grams, it obviously shows that there is gold in the system—Forbes Gemmell

“I thought the assays were very encouraging given the limited amount of data that was available,” Gemmell continues. “Hitting such intercepts as 43 metres of 1.67 grams and 10 metres of 9.82 grams, it obviously shows that there is gold in the system, and the key now for us is to get a better understanding of the main structural controls. That’s where methods such as trenching, as well as an IP survey, should give us a better feel, because it is an orogenic deposit, which tends to be controlled by structure or contact zones. Given that work is yet to be done, getting such good hits over very good widths is very encouraging.

“We’re looking to do some of that followup work in terms of trenching and some IP over the next few months. Any Phase 2 drilling [at Jauro] would likely get started at the end of the year. It’s too early [for a resource estimate]. The thing to keep in mind is that Juruena is our flagship project, and that is where most of our money is getting invested, but based on early results I think there’s exceptional optionality at Jauro.”

Regarding the company’s progress at its Juruena project, Gemmell says, “We’ve just started up our Phase 2 drill program. The big shift there has been the identification of a potential porphyry/epithermal system, which is a bit different from the geological model we started with. So the key there is doing some IP-type work to identify the sulphides. The IP’s starting in a couple of weeks, and once we get the results back from that we’ll test those porphyry-type targets. In the meantime, the Phase 2 drilling is going to do some followup holes at Uiliam, which is where we hit 216 metres of 0.55 g/t gold.

“We feel we’ve identified a couple of zones with resource potential [at Juruena] just based on some of the results from the Phase 1 drilling, but drilling up a resource there isn’t a priority for us. We think there are bigger prizes to be had. This potential for porphyry-type deposits on the property—that’s where you can easily add ounces. So that is going to be our priority for Phase 2: testing these porphyry targets rather than coming in and doing infill [work] to try and drill off a resource.”

Gemmell concludes, “We just completed a $9 million financing in the last few weeks. That should fund us through our Phase 2 drill program at Juruena, which should be the next 12 months.”

View Company Profile

Read more about Lago Dourado Minerals

Contact:
Forbes Gemmell
President/CEO
416.368.5005

by Ted Niles

Lago Dourado reports Brazil Results of 2.3 g/t Gold over 15m

December 8th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningLago Dourado Minerals Ltd TSXV:LDM announced assays from the Jacare’s Field Zone of its Juruena Project in Mato Grosso State, Brazil. Highlights include

2.3 g/t gold and 2.15 g/t silver over 15 metres
(including 26.2 g/t gold and 13.17 g/t silver over 1 metre)
1.35 g/t gold and 2.43 g/t silver over 21 metres
(including 10.1 g/t gold and 17.86 g/t silver over 1 metre)
1.02 g/t gold and 0.83 g/t silver over 23 metres
(including 10.1 g/t gold and 17.86 g/t silver over 1 metre)
0.91 g/t gold and 1.4 g/t silver over 12 metres
1.16 g/t gold and 2.42 g/t silver over 9 metres

CEO Forbes Gemmell commented, “The phase I drill program has demonstrated the potential for Juruena to host large lower-grade porphyry-epithermal multi-element targets with high-grade cores, rather than simply smaller, high-grade structural targets as per the initial geological interpretation. It is also worth noting that gold has been intersected in this preliminary drill program in approximately 70% of the drill holes. Moving forward, the recent geological mapping program and multi-element geochemical survey indicated that there are large zones of anomalous copper-gold-molybdenum-iron-sulphur that remain to be tested with the follow-up drill program to be focused on both these exciting new gold-copper targets and on extending the previously drilled targets.”

View Company Profile

Read more about Lago Dourado

Contact:
Forbes Gemmell
President/CEO
or Natasha Blackburn
Corporate Development
416.368.5005
855.368.5005

by Greg Klein

A Big Footprint

June 8th, 2011

Lago Dourado Sources Artisanal Gold in Brazil

By Ted Niles

It’s early days at Lago Dourado Minerals’ 70,000-hectare Juruena project, but the company’s President and CEO is full of optimism. “I think the key thing that makes our project stand out from others,” Forbes Gemmell remarks, “is the size of the footprint. We’ve had artisanal workings as well as gold and silver anomalies over 10 square kilometres. That would make it one of the biggest gold and silver anomalies in Brazil.”

Lago Dourado Sources Artisanal Gold in Brazil

Acquired by the company last year, Juruena is located on the Alta Floresta Gold Belt in Mato Grosso State, Brazil. Gemmell says of the Belt, “It’s 500 kilometres long, and it’s got 40 gold deposits. There’s been up to 10 million ounces mined by artisanals on it.” Since the 1980s, these garimpeiros have taken in excess of 500,000 ounces of gold from the 30 metres of saprolite material between the surface and bedrock at Juruena itself. The only drilling done on the project was in the 1990s, by Ourominas Minerals. Gemmell notes that while 90 holes were drilled, Ourominas’ focus was only under two of the artisanal pits. But, he adds, “There is plus-10 kilometres, so it’s a very large geochem anomaly. It’s a structural deposit, [so] what we’ve done differently is a geophysical interpretation, which is showing some nice structures. That’s what we’re going to be testing off with the drill bit over the next six months or so.”

Lago Dourado began its Phase 1 Juruena drilling program in December 2010. June 2 assay results include 1.39 grams per tonne gold over 57.5 metres, 1.07 g/t over 36 metres, 101.1 g/t over 1 metre and 0.75 g/t over 34 metres. Gemmell comments, “We’ve got three rigs; we’re basically testing three different targets. We’ve put out 13 holes of a 70-hole campaign, so you’re probably going to see another 60 holes from now through the end of the year on those three areas.”

We’re interested in finding a multimillion-ounce deposit – Forbes Gemmell

Gemmell admits that it likely won’t be until next year that any serious thought can be given to a resource estimate. He explains, “Because it’s such a big area, and we’re testing multiple targets, we’d only be able to drill off a resource on the back of a Phase 2 campaign. That would be a drill campaign through 2012. So we’re still a while away yet. This first pass is trying to find out where the juicy spots are through nice, wide-spaced drilling. Then we can fill in the gaps in Phase 2.”

Gemmell continues, “There’s a lot of gold at surface, and the key for us is trying to get an understanding of the structures that brought all that gold to surface. That’s what we’re trying to test with this Phase 1 drill campaign.”

As befits a company that sees exploration as its primary strength, Gemmell wants to find something extraordinary. “We are trying to show that this thing has size,” he emphasizes. “We’re interested in finding a multimillion-ounce deposit. So we’re less interested in finding a half-million to million ounces and putting feasibility studies on that.”

He concludes, “It’s going to be a busy six months, so there’s going to be a lot of news flow on the drill front. It’s an interesting point in time for us.”

The company acquired the remaining 16 exploration licences for the Juruena project from a private Brazilian company, Geomin, in March. At press time, Lago Dourado has a market cap of $40.35 million, with 62.1 million shares outstanding.

Lago Dourado President Forbes Gemmell on Brazil assays of 1.39 g/t gold over 57.5m

June 6th, 2011

“There’s been artisanal miners there since the 1980s. They’ve mined upwards of half a million ounces of gold just in the soft saprolite material in the top 30 metres. There was a bit of drilling done in the mid-90s by a company called Ourominas Minerals—they put in 90 holes. The geochem anomaly there is plus-10 kilometres, so it’s a very large anomaly, and their drilling only focused under two of the artisanal pits. It’s a structural deposit, and what we’ve done differently coming in is we’ve done a geophysical interpretation which is showing some nice structures, and that’s what we’re going to be testing off with the drill bit over the next six months or so.

“We started drilling in December and the initial holes were under one of those pits which was drilled historically. There had already been 45 holes put under that pit. When we came in we just wanted to do 10 to 13 holes on the first pass, just to get a feel for what the controls of the mineralization are. So it was more for informational purposes. Then, afterwards, we started the geophysics. So we’ve gone through that, and now we’re moving to targets that look a lot better on the geophysical side of things.

“We’ve got three rigs. We’re basically testing three different targets. We’ve put out 13 holes out of a 70-hole campaign, so you’re probably going to see another 60 holes from now through the end of the year on those three different areas.

There’s a lot of gold at surface, and the key for us is trying to get an understanding of the structures that brought all that gold to surface. – Forbes Gemmell

“Because it’s such a big area, and we’re testing multiple targets, we’d only be able to drill off a resource on the back of a Phase 2 campaign. That would be a drill campaign through 2012. So we’re still a while away yet from a resource estimate. This first pass is trying to find out where the juicy spots are through nice, wide-spaced drilling. Then we can fill in the gaps in Phase 2.

“We see our expertise in exploration. So I think that’s going to be our focus. We are trying to show that this thing has size. We’re interested in finding a multimillion-ounce deposit. So we’re less interested in finding a half-million to million ounces and putting feasibility studies on that. Then, if there is interest from anyone in the area who does have production expertise, then that would probably make more sense.

“Brazil’s a good country. There’s a well-established mining code. There’s a little bit of red tape and bureaucracy, but once you’re through that—on the ground and set-up—it is a good place to operate in. I think it’s ranked third in South America by the Fraser Institute, so it’s definitely one of the better mining jurisdictions in the Americas.

“I think the key thing that makes our project stand out from others is the size of the footprint. We’ve had artisanal workings as well as gold and silver anomalies over 10 square kilometres. That would make it one of the biggest gold and silver anomalies in Brazil. There’s a lot of gold at surface, and the key for us is trying to get an understanding of the structures that brought all that gold to surface. That’s what we’re trying to test with this Phase 1 drill campaign. We’re on a good belt here, the Alta Floresta Gold Belt—it’s 500 kilometres long and you’ve got 40 gold deposits. There’s been up to 10 million ounces mined by artisanals along the belt.

“It’s going to be a busy six months for us, so there’s going to be a lot of news flow on the drill front. It’s an interesting point in time for us.”

View Press Release Summary

View Company Profile