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With Renewed Focus, Lateegra Gold
Corp. is Seizing Near Term Opportunities (TSX Venture:LRG) by
Greg Moses - AllPennyStocks.com News Reporter
June 18, 2007 (AllPennyStocks.com Media
Inc.) – While many Gold exploration firms seem locked into
properties with only long term and future out year development
possibilities; one emerging gold company is taking a different
approach, with a focus on advanced stage properties.
Designed to the advantage of investors, Lateegra Gold Corp.
(TSX
Venture: LRG)
is seizing near term opportunities including producing assets.
Investors are taking notice, as well. Last Friday, 6/15/07 the
shares soared Up 19.05%, on very solid volume of 353k shares
traded, to close at $0.50.
Lateegra Gold Corp. is a junior exploration and development
Company, based in Vancouver, BC, operating currently with a
portfolio of precious metals properties in Ecuador, Mexico,
and Peru.
The Company has been widely featured with interviews and
analysis at
http://www.smartstox.com/interview/lrg/, as well as the
highly regarded The SMARTSTOX Report On-Line at
http://www.smartstox.com/reports/LRG.pdf.
Southern Ecuador is destined to become a new mining center, as
it represents an emerging gold belt. In Ecuador, Lateegra owns
the 243 hectare El Condor property, located within the
Aurelian Resources property containing Aurelian’s massive
Fruta del Norte discovery.
In fact, El Condor is right in the center of Aurelian’s land,
three kilometers to the east of the Fruta del Norte Gold
target, and just a few hundred meters from Aurelian’s El Tigre
Gold target. El Condor represents a huge upside potential for
the Company, as experts speculate that Aurelian may sell to a
larger gold firm.
Currently, Aurelian is undertaking major drilling on their
property. The geology reports on the Fruta Del Norte target
indicate a major find there. The Aurelian property is surely
going to ultimately host a mine.
Lateegra has undertaken their first phase of exploration at El
Condor including a geochemical survey which has identified
strong evidence of gold mineralization. The geochemical
signatures are consistent with the nearby discoveries at
Aurelian’s Fruta del Norte.
To sum up the El Condor property, Michael Townsend, President
and Director of Lateegra said it best during the SMARTSTOX
video interview, “the best place to find a new mine is right
beside an old mine, and in this case (El Condor) a discovery
right beside another discovery.”
As Aurelian has a large project underway, Lateegra’s business
strategy at El Condor is to let Aurelian do most of the early
development work, and to focus its own exploration dollars on
its other active projects.
Also in Ecuador earlier this year, Lateegra began its Phase I
exploration program on the Company’s recently acquired 23,450
hectare Auripamba East and West properties. The Auripamba
concessions, comprising 5 concessions are located in the
Provinces of Bolivar, Los Rios and Guayas in central Ecuador.
Lateegra’s exploration target is a gold rich volcanogenic
massive sulfide ore deposit.
In Mexico, within the resource rich and prolific Sierra Madre
Occidental Mountain range, Lateegra has a major producing
project. The Sierra Madres have for centuries held a great
wealth of minerals, including iron ore, lead, silver, and
gold. The mountains are sparsely populated, with settlement
limited mostly to mining towns.
The Company is currently building production capacity in
Mexico. The Picacho Gold-Silver Project, located in the state
of Sonora, is an opportunity that provides Lateegra a solid
ongoing production base. The property is located in the
Northern Sierra Madre Gold Belt in Mexico, and has extensive
underground workings and mill facilities. The Picacho mill has
the capacity for production at a rate of 250 tonnes per day.
The project started out with silica mining, but the Company is
now finding higher gold grades, as they dig deeper. During the
Phase 1 program, two new large gold bearing veins were
identified and named the Dos Amigos and Basaitegui. In April,
the Company reported positive results from the first assayed
drill-hole in a first phase drilling program at the site.
Lateegra indicated that the results were consistent with, and
served as validation for, historically reported drill-hole
results.
Also in Mexico, the Company has the 306 hectare La Guidalupana
property, which has seen previous bulk sample work including a
12.5 ton sample that returned 4 g/t Au, 20 oz/t Ag and 29.9%
Cu. Located in the Sierra Madre Occidental, this property is
also a past producer. As this is a newly acquired property,
Lateegra plans to use a typical step by step exploration
process.
All being said, Lateegra Gold Corp. (V.LRG) appears to be
skillfully working their two prong business approach. It is a
strategy which blends the benefits of both current production,
with future realization. At Picacho in Mexico, the sale of the
tailings product covers the cost of operations; making gold
and silver sales a plus. At El Condor in Ecuador, the future
upside potential is great, due to the potential size of the
mineral deposit.
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delays in the content, or for any actions taken in reliance
thereon.
Although the majority of
AllPennyStocks.com reports are independent, it has received
compensation for carrying the report on
Lateegra Gold Corp, the compensation is
three thousand dollars by a non-affiliated third-party,
BayStreet.ca Media, Corp. This
creates an inherent conflict of interest and readers are
encouraged to view the main disclaimer at
/aps_ca/company_spotlights/archives/lrg.asp |
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