LATITUDE MINERALS CORP. ("LTU-V") - Positive Results from Preliminary Metallurgy at Pan Gold Deposit
John R. Carden, President of Latitude Minerals Corp. is pleased to announce that it has received preliminary metallurgy results from the recent Phase I drilling conducted at the company's Pan gold deposit, White Pine County, Nevada. The samples were leached for 1 hour using a hot cyanide bottle roll technique to determine the extractability of the mineralization using cyanide leaching. The results are positive and indicate that the Pan ore is amenable to processing by heap leaching. Results of mineralized intervals from the Red Hill area have a weighted average of 84% gold extraction, mineralized rock from the Gap has a weighted average of 90% gold recovery, mineralized intervals from South Pan have a weighted average of 88%, and the new mineralization discovered at Middle Pan is 96% extractable. Further metallurgical work, including column tests, are underway.
Latitude is currently preparing a drill plan for permitting a 20 hole (8,000-foot) Phase II RC drilling program at Pan. At least 10 holes are planned for the Pilot Ridge area of North Pan, where 74 previous holes bottom in gold mineralization. Furthermore, Latitude is mobilizing a second, track-mounted drill rig to the property to test the sheet-like nature of near-surface mineralization encountered at the new Middle Pan discovery. Joint venture partner N.A. Degerstrom (NAD) is undertaking preliminary discussions with the U.S. Bureau of Land Management regarding mining permits. Degerstrom is also initiating baseline studies, including air quality work which is scheduled to begin this Spring.
N. A. Degerstrom, Inc. is an independent contractor serving the mining and construction industry since 1904. Headquartered in Spokane, Washington, NAD got its start in railroad construction throughout the western United States. Its services have grown over the past 95 years to include, construction, aviation, drilling, crushing, and analytical and metallurgical services. For further information, visit their website at: nadinc.com
Latitude Minerals Corp. is a junior exploration company engaged in exploring and developing a number of advanced-stage gold deposits in the western United States. The company is also evaluating a number of additional opportunities in the Americas.
Additional information can be obtained by contacting Norman Eyolfson in Investor Relations (800) 265-7646 or by visiting the Company's website at latitudeminerals.com WARNING: The company relies upon litigation protection for "forward-looking" statements.
TABLE 1. PHASE I DRILL HOLE SUMMARY AND GOLD EXTRACTION RESULTS FOR
ONE HOUR HOT CYANIDE BOTTLE ROLL TEST
HOLE NUMBER AREA INTERCEPT INTERVAL % Gold Metallurgy
Grade in opt (Feet) Recovery Interval
Au
LPR-401 Red Hill 80'@ 0.044 opt 95'-175'
includes 30'@ 0.082 opt 125'-155' 75% 125'-150'
LPR-406 Red Hill 125'@ 0.047 opt 100'-225'
includes 50'@ 0.067 opt 175'-225' 89% 175'-225'
LPR-415 Red Hill 128'@ 0.072 opt 105'-233' 84% 185'-233'
includes 53'@ 0.111 opt 180'-233'
LPR-407 Gap 150'@ 0.020 opt 15'-165' 87% 85'-115'
97% 140'-150'
LPR-408 Gap 155'@ 0.022 opt 50'-205'
includes 90'@ 0.025 opt 95'-185' 91% 95'-160'
LPR-409 South Pan 450'@0.023 opt 0'-450'
includes 65'@ 0.034 opt 130'-195' 90% 130'-195'
includes 80'@ 0.040 opt 260'-340' 93% 260'-340'
LPR-410 South Pan 30'@ 0.027 opt 115'-145' 88% 115'-140'
80'@ 0.026 opt 275'-355' 92% 275'-295'
LPR-411 South Pan 25'@ 0.025 opt 0'- 25' 90% 0'- 25'
85'@ 0.025 opt 60'-145' 95% 60'-140'
25'@ 0.046 opt 270'-295' 86% 270'-295'
LPR-412 South Pan 150'@0.051 opt 25'-165' 81% 25'-165'
LPR-413 South Pan 260'@0.022 opt 140'-400'
includes 120'@0.032 opt 280'-400' 81% 280'-390'
LPR-416 Middle 50'@ 0.034 opt 0'- 50' 96% 0'- 40'
TEL: (800) 265-7646 Norman Eyolfson in Investor Relations FAX: (509) 536-6442 Internet: www.latitudeminerals.com
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