TORONTO, ONTARIO -- (Marketwire) -- 01/15/13 -- Lakeside Minerals Inc. (TSX VENTURE: LAK) (the "Company") is pleased to announce results from its first drill program on the Trojan block, Launay property, northwestern Quebec. The Company completed a thirteen hole, 3981 m, drill program in December 2012 and highlights from the first seven drill holes are reported here.
Drill results indicate significant high grade gold intersections within much wider anomalous to lower grade zones. Higher grade highlights include 29.00 g/t Au over 1.5 m; 10.31 g/t Au over 3.0 m, which includes 17.90 g/t Au over 1.5 m; 7.08 g/t Au over 1.5 m; and 4.82 g/t Au over 1.6 m.
Anomalous to lower grade intersections have composite average values greater than 0.10 g/t Au (100 ppb) to greater than 1.00 g/t Au over drill intervals from several metres to tens of metres wide. Anomalous highlights include 1.65 g/t Au over 18.0 m; 1.23 g/t Au over 64.5 m; 0.29 g/t Au over 11.2 m; 0.25 g/t Au over 25.5 m; 0.16 g/t over 45.0 m; 0.12 g/t over 36.0 m; 0.14 g/t over 32.0 m; and 0.10 g/t over 27.0 m.
Mario Justino, President and CEO of Lakeside Minerals Inc., commented: "The results of the first seven drill holes further validate the potential of the gold zones on the Trojan block associated with the Macamic deformation zone. These results correlate well with historical high grade drill intersections. The Company plans to continue assessing the along strike and depth potential of these gold zones. The current drill program only tested several hundred metres of the over 22 km of Macamic deformation zone on the Launay property. Based on historical exploration and drill data, we are confident the Launay property shows high potential to host significant gold mineralization."
Launay Property - Trojan Block Drill Results
In late October to December 2012, Lakeside conducted a thirteen hole, 3981 m, drill program on the Trojan block, Launay property, located in northwestern Quebec. Gold assay results from the first seven drill holes, LKTR-001 to LKTR-007, are summarized in Table 1 below. Location maps will be made available at www.lakesideminerals.com (see Properties: Launay property).
Table 1: Gold assay result highlights from drill holes LKTR-001 to LKTR-007. "Anomalous" indicates drill intervals with weighted average results greater than 0.10 g/t Au (100 ppb) to greater than 1.0 g/t Au. Drill intervals (core length) greater than 10 m and gold results greater than 1.0 g/t Au are indicated in bold. (Note: "anomalous" may include intervals with less than 0.10 g/t Au)
---------------------------------------------------------------------------- Hole ID From (m) To (m) Interval (m)(i) Au g/t---------------------------------------------------------------------------- LKTR-001 anomalous 78.00 123.00 45.00 0.16 includes 81.00 84.95 3.95 0.54 includes 89.00 90.50 1.50 0.55 includes 116.30 119.00 2.70 0.58-------------------------------------------------------------------------------------------------------------------------------------------------------- LKTR-002 anomalous 39.00 48.90 9.90 0.51 includes 43.50 45.00 1.50 1.04 includes 47.40 48.90 1.50 1.65---------------------------------------------------------------------------- LKTR-002 anomalous 64.50 72.00 7.50 0.14---------------------------------------------------------------------------- LKTR-002 anomalous 96.00 115.50 19.50 0.16---------------------------------------------------------------------------- LKTR-002 anomalous 156.00 165.10 9.10 0.10-------------------------------------------------------------------------------------------------------------------------------------------------------- LKTR-003 anomalous 72.00 99.00 27.00 0.10---------------------------------------------------------------------------- LKTR-003 anomalous 115.50 126.70 11.20 0.29 includes 121.50 123.00 1.50 1.47---------------------------------------------------------------------------- LKTR-003 anomalous 138.00 174.00 36.00 0.12-------------------------------------------------------------------------------------------------------------------------------------------------------- LKTR-004 90.00 91.50 1.50 1.32---------------------------------------------------------------------------- LKTR-004 anomalous 102.00 120.00 18.00 1.65 includes 104.90 106.50 1.60 4.82 includes 111.00 112.50 1.50 1.30 includes 112.50 114.00 1.50 7.08 includes 114.00 115.50 1.50 2.51 includes 115.50 117.00 1.50 2.15---------------------------------------------------------------------------- LKTR-004 135.00 136.50 1.50 2.52---------------------------------------------------------------------------- LKTR-004 anomalous 160.50 216.00 55.50 0.18---------------------------------------------------------------------------- LKTR-005 145.50 210.00 64.50 1.23 includes 163.50 166.50 3.00 10.31 which includes 163.50 165.00 1.50 17.90 which includes 165.00 166.50 1.50 2.72 includes 199.50 201.00 1.50 29.00---------------------------------------------------------------------------- LKTR-006 117.20 122.70 5.50 1.24 includes 117.20 117.90 0.70 1.31 includes 117.90 118.80 0.90 3.92 includes 121.50 122.70 1.20 1.06-------------------------------------------------------------------------------------------------------------------------------------------------------- LKTR-006 159.00 159.50 0.50 1.44---------------------------------------------------------------------------- LKTR-006 anomalous 175.50 201.00 25.50 0.25 includes 184.50 186.00 1.50 2.41---------------------------------------------------------------------------- LKTR-006 anomalous 220.50 225.00 4.50 0.81 includes 220.50 222.00 1.50 1.96-------------------------------------------------------------------------------------------------------------------------------------------------------- LKTR-007 82.20 83.30 1.10 1.10---------------------------------------------------------------------------- LKTR-007 anomalous 129.00 133.00 4.00 0.49 includes 129.70 130.30 0.60 1.04---------------------------------------------------------------------------- LKTR-007 anomalous 184.00 216.00 32.00 0.14--------------------------------------------------------------------------------------------------------------------------------------------------------(i) Core length Note: hole inclination -45 degrees----------------------------------------------------------------------------
