Symbol: LCO - TSXV
VANCOUVER, June 29 /CNW/ - LAGASCO CORP. ("Lagasco" or the "Company") is pleased to provide an update on initial exploration work and to report the commencement of drilling on the Anchaca gold/copper porphyry system in central Peru.
The Anchaca exploration camp was constructed two weeks ago and property-wide prospecting commenced immediately. With the use of heavy equipment the first few of twelve drill sites were completed - the drill crew is on-site and will begin drilling immediately. 2,000 to 3,000 meters of drilling and formal trench sampling are permitted for the next three months, with initial assay results anticipated as early as mid-late July.
The initial drill holes and trenches will follow the down-dip continuation of outcropping high-grade gold and copper values associated with intrusive dikes interpreted to be the epithermal representation of an underlying gold/copper porphyry mineral system. Concurrently, the Lagasco geological team is systematically cutting channels through outcropping mineralization with the use of a gas-powered diamond saw to provide engineering-quality samples. The results of drilling, channel sampling and geological mapping will form the basis of a preliminary resources assessment by Gustavson and Associates, who also prepared the Company's recently-filed NI43-101 qualifying technical report dated April 15, 2010 which is available at www.sedar.com.
Leigh Freeman, President and CEO said: "We are excited to begin our formal drilling evaluation of the Anchaca mineral system. Our geological work over the last few months has substantially expanded on the original interpretation by Bernie Bernstein that Anchaca is a major mineral system, and that outcropping gold and copper mineralization represents the 'tip of an iceberg'."
About Lagasco Corp.
Lagasco Corp. is a newly constituted minerals exploration company focused on the discovery of large precious- and base-metal mineral systems in stable political terrains. Effective June 21, 2010, Lagasco completed its re-activation and commenced trading on Tier 2 of the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE LAGASCO CORP.
For further information: For further information: D. Barry Lee, Chairman, (604) 689-8336