LAGUNA RESOURCES NL - ASX: LRC

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Description

The Company is listed on the Australian Stock Exchange (ASX : LRC) and based in Perth, Western Australia. It has a capable management team in Santiago and an experienced exploration group working out of its operational base in Copiapo in the Atacama Region of Chile.

Arqueros Projects

Arqueros (pronounced "Arkeros") is the key property in a large high sulphidation epithermal system known as Esperanza in La Coipa sector of the Maricunga District of Northern Chile. It has proven million ounces gold and silver mineralisation in JORC resources, which will support the development and production of a significant gold-silver mine.

* Located in Maricunga Gold Belt (70 Moz gold resources & 465,000 oz/a in production).
* 1.1 million gold equivalent ounces delineated in JORC Resources (Indicated + Inferred) at a cut-off grade of 0.7 g/t gold equivalent, for an average grade of 1.5 g/t Au equiv.
* Brownfield project which can be fast-track to production as an open cut mine, using conventional cyanide leaching technology to produce gold-silver bullion.
* Feasibility study in planning.
* Four additional high quality gold projects acquired in the Maricunga: Maricella, Cerro Imkan, Guanaca and Cachitos.

Southern Maricunga

The southern sector of the Maricunga Gold Belt is characterised by the presence of very large porphyry gold deposits and a smaller number of high grade epithermal systems. Large porphyry gold deposits include Caspiche and Cerro Casale. These have published resources (Measured, Indicated and Inferred) in excess of 30 Moz and 40 Moz gold equivalent respectively, with gold content being 24 Moz and 30 Moz – the balance is in copper.

Processed satellite images of the Southern Maricunga prepared by Laguna Resources, demonstrated the presence of a series of iron-clay anomalies, many of which are known zones of hydrothermal alteration, and some mineralised. In addition, geological interpretation indicates the possible presence of a poorly developed collapse feature associated with the centrally-located Cadillal stratavolcano (Nevado de Aguas Blancas Volcanics - Upper Tertiary) intersecting regional north-west and north-east structural features, which may account for the cluster.

Laguna Resources has identified this as a highly prospective area to identify, explore and develop a large scale gold project. To that end, it has signed an option agreement on two three properties, Cachitos and Maricella. The company has also "pegged" ground in its own right in the area.

Mine For

gold, silver, copper

Location of operation(s)

Chile

Address

15 Outram St
WEST PERTH, WA, Australia

Phone

+61 8 9426 6499

Email

Website

http://www.lagunaresources.com

Last Updated

4/5/2011