laguna commences drilling @ arqueros gold proj

Source: www.proactiveinvestors.com.au



Laguna Resources

Laguna Resources NL is dedicated to the exploration and development of high quality gold resources in Latin America. The company's primary focus is the Arqueros gold-silver deposit, located in the La Coipa sector of the northern part of the Maricunga district of the Atacama Region of Northern Chile.

Laguna Resources commences drilling at the Arqueros Gold Project
Tuesday, November 24, 2009



Laguna Resources (ASX: LRC) has kicked off drilling at the Arqueros Gold Project in the northern sector of the World Class Maricunga Gold Belt in the Atacama Region of northern Chile.

A drilling rig has mobilised to site and started on the first hole in the first phase of a 10,000 metre campaign.

Managing director Nick Lindsay said the focus of the drilling programme would be on further extending the existing resource base as well as testing the poorly defined high grade gold bearing structures.

"The principal goal of exploration on the Arqueros gold and silver deposit is the increasing of the resource to 2 million ounces of gold equivalent." Mr Lindsay said.

"This is being accomplished by an integrated programme of underground mapping and sampling of the mineralisation exposed by previous mine development, and drilling."

The drilling campaign has been subdivided into two phases. The first phase which has now commenced comprises 3,000 metres of reverse circulation drilling followed by 1,000 metres of diamond drilling.

This will be completed by year end, with the objectives to include verification of assay results from previous historical drilling and underground sampling, in-filling gaps on the resource model and testing the extent of mineralisation in the silver domain and sub-vertical gold rich domain.

The latter has been identified as having the greatest potential to add gold ounces and grade to the JORC resource, with the company targeting the discovery of additional gold zones where previous exploration drilling exposed the high grade nature of gold structures, with values of 10 and 20 g/t gold reported over intervals of 8 to 10 metres.

The company also hopes the drilling will provide critical geotechnical information and additional samples for metallurgical test work.


Ends.

Cheers, Pie (: