Proactiveinvestors recommends

New Guinea Energy to gain from Talisman, Mitsubishi gas alliance in Papua New Guinea
Elementos succeeding in South American precious and base metal diversification strategy
Greenearth Energy: clean technology program a windfall for energy efficient lighting technology

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

1 year chart

1 day chart

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 encouraged by silver assays from drilling at 701 Mile

Thursday, November 03, 2011 by Angela Kean

Laconia Resources (ASX: LCR) has received promising silver assays from drilling at its 701 Mile base metals project in the Pilbara, including a peak hit of up to 23.9 grams per tonne of silver from surface.

Significantly, silver anomalism was identified to extend over a strike length in excess of 15 kilometres, and the project is prospective for base metals, gold and uranium.

The 701 Mile project is located approximately 80 kilometres south-east of Newman in Western Australia, within the north-eastern portion of the Collier Basin, and is transected by a regionally significant structure called the Tangadee lineament.

The company recently completed an extensive auger drilling and soil sampling program comprising 751 auger holes and 384 soil samples for a total of 1,135 samples.

The auger drill traverses were sampled on 400 by 400 metre spacings over areas of favourable geology, proximal to magnetic structures, and moving to 800 by 800 metre spacings in other parts of the tenement.

Large areas of the tenement are overlain by cover including alluvial wash, calcrete and sand. Auger drilling was conducted in these areas to penetrate this cover to obtain meaningful geochemical samples.

Managing director Ian Stuart said, “We consider this kind of anomalism highly significant and it adds greatly to the base metal prospectivity of the project.

“This auger drilling has penetrated that surface cover so we’re getting meaningful samples, but they’re highly anomalous.

“The area of silver-lead anomalism is very extensive, exceeding 15 kilometres in length.

“If you put the anomalism together with the large structures that are running through it, it bodes well for more exploration.”

Stuart said given the coincident geochemical anomalism and favourable geological structures, Laconia will immediately prioritise follow-up geochemical sampling and begin planning for rotary air blast drilling to test these targets.

He anticipates this drilling program will begin at the end of the first quarter, start of the second quarter of 2012.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.