TORONTO, ONTARIO -- (Marketwire) -- 02/25/13 -- Lago Dourado Minerals Ltd. (TSX VENTURE: LDM), (the "Company") is pleased to release a geological report by Mr. Simon Meldrum, a geological expert in porphyry-epithermal Au-Cu-Ag systems, on its flagship 100%-owned Juruena Project located in Mato Grosso, Brazil. The report confirms the porphyry-epithermal potential at Juruena and identifies the Arrastro Hills area as the most promising porphyry target on the property. Drilling to test this new target commenced in January.
Forbes Gemmell, President & CEO, said, "Mr. Meldrum's report is particularly encouraging as it provides further support to the porphyry-epithermal model initially proposed by Professor David Groves when he joined the Company as our Technical Advisor. While drilling to date has already identified seven distinct mineralized zones, the Arrastro Hills target has the potential to represent the 'main prize' given it boasts a classic geological setting whereby a gold-rich porphyry system can be preserved. The geological, geochemical and geophysical datasets are also all supportive of its porphyry potential as outlined in Mr. Meldrum's report. We are excited that drilling is now underway at Arrastro Hills and look forward to systematically drill testing this new target over the coming months."
Mr. Meldrum conducted a six-day site visit to Juruena in mid-December. Mr. Meldrum is a consulting geologist with more than 30 years experience focused on porphyry-epithermal systems working for major, mid-tier and junior exploration companies. He has participated in the discovery and evaluation of large-scale porphyry and epithermal gold systems, including Batu Hijau (Indonesia) and Rio Blanco (Peru). Mr. Meldrum's report (available at www.lagodourado.com under Projects-Juruena-Reports) describes his preliminary findings on the Juruena Project and is not a "Technical Report" as defined under NI 43-101.
In his report, Mr. Meldrum concludes that there is little doubt that a porphyry intrusion with the potential to produce high-sulfidation epithermal gold mineralization is concealed under the lithocap at Arrastro Hills based on the extensive clay-silica alteration, multi-element zonation, variable intrusive rock types and magnetic and radiometric characteristics. It is inferred that the intrusion was emplaced at a high crustal setting (near surface) during a period of rapid uplift and erosion, a tectonic environment not dissimilar to the current day Andes mountain chain in Chile.
Highlights from the Arrastro Hills target area and the rationale for its potential to host a gold-rich porphyry-epithermal system are outlined as follows (and in Figure A: http://media3.marketwire.com/docs/ldm_225_figure_a.pdf):
- The presence of a lithocap which, in most instances, is considered to develop over mineralized porphyry intrusions. The evidence for a lithocap is supported by widespread and intense acid alteration that is coincident with a potassium radiometric anomaly and elevated barium and arsenic soil values. The porphyry stocks that generate such lithocaps are typically high-level (within 200m to 800m from surface). Under the right conditions, mineralization directly beneath the lithocap may be enriched.
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