Lakeside Minerals Inc. Announces Drill Program on the Trojan Block, Launay Property
TORONTO, ONTARIO--(Marketwire - Oct. 29, 2012) - Lakeside Minerals Inc. (TSX VENTURE:LAK) (the "Company") is pleased to announce the commencement of a drill program on the Trojan block, Launay property, northwestern Quebec.
This first phase 2000 m drill program is a follow-up to summer and early fall work carried out on the Trojan block. Results show several northwest trending auriferous zones subparallel to the Macamic deformation zone. The current drill program will test high grade gold assays over narrow to metre-scale intervals as reported from historical drilling and from trench channel sampling work carried out in early fall. Channel sample results from Trench 3 include 4.52 g/t Au over 5.91 m, which includes 9.36 g/t Au over 1.94 m (see Oct. 17, 2012 press release: www.lakesideminerals.com).
Trench 3 is at the centre of a 40 to 50 m wide zone within a wider 120 m zone with narrow, subparallel, steeply southwest-dipping to subvertical auriferous zones. Shallow historical drilling intersected narrow auriferous zones along strike with Trench 3 over a distance of at least 600 m. Based on historical drilling, current mapping, and outcrop sampling, the zone partly exposed at Trench 3 may have a potential strike length of 2.2 km across the Trojan block.
About the Launay Property
The Launay property is located some 48 km northeast of Rouyn-Noranda, Quebec. The property comprises two hundred and twelve (212) mineral claims over several blocks and covers 95.8 km2. The property straddles 22 km of the prospective Macamic deformation zone (MDZ), a major deformation zone in the Abitibi subprovince. The Launay claim blocks cover a number of known gold occurrences associated with the MDZ. These gold showings form a trend over 17 km long and several display significant historical gold drill intersections (see www.lakesideminerals.com - Properties: Launay property).
The Trojan block, 15 claims and 6.3 km2, straddles a 3.1 km segment of the northwest trending MDZ. Interpretation of past exploration work, including drilling and trenching, as well as more recent mapping and sampling work shows several northwest trending auriferous zones subparallel to the MDZ. These narrow auriferous zones occur over an area with a strike length of at least 2.2 km and a width of 0.6 km.
About Lakeside Minerals Inc.
Lakeside Minerals Inc. is engaged in acquiring, exploring, and developing mineral properties in Quebec. Presently, the company holds a portfolio of properties located in the Rouyn-Noranda area of northwestern Quebec. These properties display significant historical gold drill results and have excellent potential for discovery.
This press release refers to quoted historical exploration results. These are derived from filed assessment reports and compiled from governmental databases. The Company and a QP have not independently verified and make no representations as to the accuracy of historical exploration results. Selected highlight results may not be indicative of average grades.
The technical information in this news release was prepared by Mario Justino, P.Geo., President and CEO of Lakeside Minerals Inc., a "qualified person" as defined in National Instrument 43-101.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Lakeside Minerals Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lakeside Minerals Inc.
President and CEO