LATIN AMERICA — Lac encouraged by results from Chilean gold

Encouraging results have been reported by Lac Minerals (TSE) from eight additional holes drilled at the Nevada gold project in Chile.

Highlights included a 492-ft. intersection grading 0.29 oz. gold per ton and 0.2 oz. silver, including 266 ft. of 0.48 oz. gold and a 105-ft. section grading 1.14 oz. gold from hole RDH-43; 502 ft. of 0.04 oz. gold from hole RDH-44; and 108 ft. averaging 0.09 oz. from hole RDH-46.

The 45,000-acre Nevada project is 30 miles north of Lac’s El Indio mine at an elevation of 15,000 ft. Owner is Compania Minera Nevada of which Lac, through its Chilean subsidiary, owns 80% with the balance belonging to the original Chilean owners.

The latest drilling confirms Lac’s projection of a potential large-tonnage, open-pit gold project.

Lac says the latest eight holes extended the sub-horizontal tabular gold and silver mineralized zone 400 ft. to the south from previous drilling. An area 1,300 by 1,000 ft. has now been tested.

The mineralized zone is open to the southwest and step-out drilling is focused in this direction. The company says previous surface work discovered mineralization outcropping about one mile to the southwest at the same elevation in a similar rock type.