Laconia hits impressive copper in Peru

THE DRILL SERGEANT: Laconia Resources (ASX: LCR) has received high-grade copper-gold-silver values from historical underground drive development sampling undertaken at the Española 1 prospect, situated within the company’s Rasuhuilca project in Peru.

The company described this copper occurrence to be significant as it combines with its previously released knowledge of the geology, mineralisation and alteration, to expand the exploration model to an “El-Indio style” gold, silver and copper porphyry system.

Results from the Española 1 underground sampling include:

–    2.1 metres at 8.4 per cent copper, 6.13 grams per tonne gold and 111.7 grams per tonne silver;

–    2.2m at 6.8 per cent copper, 6.47g/t gold and 141.8g/t silver; and

–    1.1m at 9.7 per cent copper, 8.7g/t gold and 152.8g/t silver.

 

Plan View of the 4810m level adit at Española 1 showing copper
results from historical channel sampling. Source: Company announcement

 

“The company is very pleased with the identification of positive copper-gold-silver grades from our flagship Peruvian project,” Laconia Resources managing director Ian Stuart said in the company’s announcement to the Australian Securities Exchange.

“We are continuing to grow our knowledge of the wider Rasuhuilca Volcanic system through the systematic processing of historical data.

“The presence of significant copper in conjunction with the gold and silver epithermal veins already identified adds significantly to the potential of the entire Rasuhuilca project.

“The company has also been progressing well with the permitting and approvals process to commence exploration drilling, and has a preliminary 2,000 metre diamond drilling program planned to both upgrade the existing JORC resource, and to test high quality gold and copper targets identified through previous exploration activity.”

Laconia indicated it is currently planning further exploration programs for gold-silver and copper zones and will be conducting  surface and underground channel sampling and drill testing during 2013 and into the first half of 2014, subject to approvals.

At present, the company is working on permitting and community agreements utilising the
Declaración de Impacto Ambiental (“DIA”) process of the Peruvian regulatory system, to obtain approval for the drilling and sampling program to commence.