Lateegra Gold Corp fka LRG

[Tackler]

Lateegra, Tara Gold drill 11.28 m of 15.57 g/t Au

2007-06-15 15:41 MT - News Release

Also News Release (U-TRGD) Tara Gold Resources Corp

Mr. Chris Verrico of Lateegra reports

LATEEGRA DRILLS 11.28 METERS OF 15.57 GRAMS GOLD AND 32.41 GRAMS SILVER PER TONNE AT PICACHO

Lateegra Gold Corp. and Tara Gold Resources Corp. are releasing the results from the phase I drill program at El Picacho, Sonora, Mexico. Lateegra Gold is providing the results from 13 additional drill holes on its epithermal gold-silver El Picacho project. This first phase of the drill program, conducted by Lateegra, consisted of 2,569 metres in 14 drill holes designed to confirm and expand upon historic data derived from 22 previously drilled holes and sampling from within existing underground workings. A total of 13 of the wide-spaced drill holes from this latest program tested approximately 700 metres of strike length on the El Picacho structure along the strike extent of underground workings. Drill hole MPDH07-008 targeted the structure approximately 500 metres to the northwest of the other 13 holes and outside of the area of underground development.

Results include 6.13 metres grading 4.73 grams per tonne (g/t) gold (Au) and 60.26 g/t silver (Ag) in drill hole MPDH07-014, 9.43 metres grading 7.80 g/t Au and 72.89 g/t Ag in MPDH07-002, and 11.28 metres grading 15.57 g/t Au and 32.41 g/t Ag in MPDH07-013. Assay results from the first drill hole, MPDH07-001, reported Stockwatch news April 25, 2007, were five metres (true thickness of 4.3 m) of 12.81 g/t Au and 27.80 g/t Ag.

 
  
   EL PICACHO STRUCTURE -- MINERALIZED INTERVAL	WEIGHTED AVERAGE 
  
 Hole 	       From	    To	   Interval	    True width	     Au	    Ag 
 No.   	        (m)	   (m)	        (m)	           (m)	   g/t	   g/t 
  
 *MPDH07-001	 80.5	  85.5	       5.00	          4.33	  12.81	 27.80 
 MPDH07-002	126.75	 128.9	       2.15	          1.74	   1.94	 20.07 
 and	       133.65	 145.3	      11.65	          9.43	   7.80	 72.89 
 MPDH07-007	 155.5	 159.6	       4.10	          3.73	   1.16	  2.98 
 and	        164.5	 183.5	      19.00	         17.28	   0.84	  1.16 
 incl.	      164.5	 170.5	       6.00	          5.46	   1.25	  0.62 
 MPDH07-008	167.37	167.87	       0.50	          0.48	   3.32	106.00 
 MPDH07-010	151.85	155.35	       3.50	          3.17	   4.58	 24.20 
 MPDH07-013	127.95	142.45	      14.50	         11.28	  15.57	 32.41 
 incl.	     132.65	 140.5	       7.85	          6.11	  23.59	 39.68 
 MPDH07-014	 155.2	 157.9	       2.70	          1.72	   1.95	 17.87 
 and	        162.7	 172.3	       9.60	          6.13	   4.73	 60.26 
 incl.	      166.9	 172.3	       5.40	          3.45	   6.99	 99.12 
 

* reported in Stockwatch news April 25, 2007

Note: MPDH07-003, 004, 005, 006, 009, 011 and 012 contained no
significant values.

The company is very pleased with these results as they provide both verification of historically reported drill hole data, as well as confirming continuity of the vein along strike and to depth well away from the existing mine workings. The El Picacho vein structure remains open to depth and along strike in both directions.

"This first phase drilling and the data collected have really helped our team better understand the nature of the El Picacho structure," says chief executive officer Chris Verrico. "We are now aware of the plunging, high-grade ore zones within the El Picacho structure and will be targeting some of these ore shoots in our second phase drill program."

The El Picacho structure will be the primary focus of the company's phase II, 5,000-metre, drill program estimated to begin in mid-July, 2007. The company plans to delineate high-grade reserves within the El Picacho structure for commencement of milling operations scheduled for mid-2008.

The Dos Amigos structure, which boasts grab samples with grades as high as 87.5 g/t gold and 4,880 g/t silver (see Stockwatch news Jan. 23, 2007), is also presently being evaluated. The structure has a known strike length of over three kilometres and has never been drilled.

"Although our focus for the near term is on the El Picacho structure and reserve calculations, the Dos Amigos structure is a very promising target that adds plenty of blue sky to the potential of this property. We plan to put the first holes into the Dos Amigos structure this year," said Mr. Verrico.

The company is compliant under National Instrument 43-101 for the Picacho project. Jeffery Reeder, PGeo, is the qualified person responsible for the exploration program, and for the supervision of the associated quality-control/quality-assurance programs. The quality-control program consists of inserting standards, duplicates and blanks within the sample sequence.

The company is also granting incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 250,000 common shares of the company for a period of two years at a price of 60 cents per share.