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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	LCR
Latest Price:	0.04 (-6.52% )
52-week High:	0.09
52-week Low:	0.04
Market Cap:	3.03M

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Laconia Resources Full Laconia Resources profile here

Laconia Resources (ASX: LCR) is a Perth-based gold and base metals exploration company. The Company has a portfolio of advanced gold and base metals projects in the Pilbara, the Murchison and Eastern Goldfields regions of Western Australia across 35 granted tenements covering approximately 955km².

Laconia has a significant base metal ground position in the Pilbara including the Lennons Find Project. Lennons Find has a JORC Code Inferred Resource of 853,000 tonnes grading 7.7% Zn, 1.8% Pb, 0.7% Cu and 115g/t Ag.

Laconia Resources continues to deliver high grade silver strikes at Lennons Find

Wednesday, October 12, 2011 by John Phillips

With very high grade silver hits across three prospects at Lennons Find in the Pilbara, the pending resource upgrade and modelling announcements are highly anticipated.

Laconia Resources (ASX: LCR) is making some major exploration strides forward at the Lennons Find Project, with the company announcing very high grade silver intersections for the second time in a week from maiden drilling.

The project is located near Marble Bar in the Pilbara region of West Australia.

The most recent highlights are from the Tiger prospect and include:

- 2 metres at 232 grams per tonne (g/t) silver, 0.56g/t gold, 0.07% zinc and 0.08% copper from 15 metres;
- 2 metres at 145g/t silver, 0.67g/t gold, 0.13% zinc and 0.76% copper from 6 metres; and
- 3 metres at 173g/t silver, 0.47g/t gold, 0.11% zinc, 0.08% copper from 10 metres.

Importantly - ore grade mineralisation has been confirmed along strike in both directions.

These results at Tiger follow on from the bumper results last week at the Hammerhead and Bronze Whaler prospects, which are worth mentioning again.

Hammerhead delivered 4 metres at 174 g/t silver, 0.23g/t gold, 2.35% zinc, 0.08% copper and 1.04% lead from 150 metres, and 2 metres at 307g/t silver and 1.32% zinc from 89 metres, including 1 metre at 402g/t silver.

Hammerhead already hosts an Inferred JORC Resource of 853,000 tonnes at 115g/t silver, 7.7% zinc, 0.7% copper and 1.8% lead.

The significance of the new results at Hammerhead which were targeting infill and deeper drilling, is the potential to significantly increase the project’s resource base.

At Bronze Whaler, the recent highlight was 5 metres at 117g/t silver, 0.66g/t gold, 0.67% zinc, 0.23% copper and 1.52% lead from just 10 metres.

Other hits at Bronze Whaler from less than 20 metres included 5 metres at 93g/t silver, 2 metres at 130g/t silver, 5 metres at 68g/t silver and 2 metres at 128g/t silver.

Ian Stuart, managing director, commented “We continue to be delighted with the results from our targeted drilling at the Lennons Find project.

"The additional high grade results from the Tiger prospect, combined with the previous results from Hammerhead and Bronze Whaler, paint a compelling picture of the project’s potential.

"Significant zinc and silver grades have now been intersected on strike, on either side of the existing Resource at Hammerhead, and we look forward to incorporating these new intersections in Resource modelling as soon as possible.”

A brief history of Lennons Find

In March Laconia acquired a 95% stake in the Lennons Find project from Jabiru Metals (ASX: JML). At the same time it announced the acquisition of the nearby Yandicoogina base metals project from Shaw River Resources (ASX: SRR).

The two projects are located about 40 kilometres from Marble Bar on the southern edge of the Mt Edgar Granitoid Complex, in the East Pilbara region of Western Australia.

The Lennon’s Find and Yandicoogina projects are located in close proximity to Laconia’s highly prospective Barramine Base Metal Project.

No investment advice

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