Lateegra Gold Corp. (LRG-TSX.V) (LTG-Frankfurt)

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Lateegra Gold Corp. is a gold exploration and development company. Lateegra's focus is to create value for shareholders through acquiring and developing gold projects in regions that have historic or current major discovery potential.

Lateegra utilizes the expertise of the management team and the Company's proven ability to finance its programs to develop its interests to their full potential.

The “Flagship” asset of Lateegra Gold Corp is the past producing DeSantis Mine Property located in the heart of the West Timmins Mining area. The DeSantis Property has a past history of limited underground mining (mainly in the 1930's and 1940's), having produced approximately 36,000 ounces of gold (200,000 tons with a recovered grade of 0.18 oz Au/ton.)

Since June 2010, a total of 15 holes totalling 5888 metres have been drilled with the primary objective to confirm the continuity and grade of gold mineralization reported in historic underground and surface drilling. The DeSantis Mine lies immediately north of the Destor Porcupine Fault Zone, and is located approximately mid way between the Hollinger Gold Mine and Lake Shore Gold’s Timmins West Mine. The property consists of approximately 818 hectares and covers a regional strike length of approximately 5.1 kilometres.

Four of the nine holes (DS-10-7 to DS-10-10) were drilled to further test the Hydrothermal Zone (HTAZ) at depths varying from 175 to 225 metres vertically below surface. These holes were collared approximately 150 to 200 metres west of the Main Shaft, with holes DS-10-8 and DS-10-9 drilled from the same set up. All holes were drilled from south to north. The HTAZ was intersected in each hole, consisting of zones of strong deformation and alteration, including quartz carbonate veining, tourmaline, pyrite, arsenopyrite and anomalous gold mineralization. Significant results are summarized in the following table.

Note: DS-10-07 intersected anomalous gold values, up to 0.88 g/t over a core length of 0.61 metres.

Five holes, DS-10-11 to DS-10-15 were drilled to test the “Green Carbonate” and “Albitite” zones at depths ranging from 300 to 400 metres vertically below surface, and approximately 20 to 70 metres east of the Main Shaft. Holes DS-10-11 and DS-10-12 veered to the west, and intersected a diabase dike prior to reaching target depth. Holes DS-10-14 and DS-10-15 intersected a highly altered, fractured porphyry system (termed “white albitite zone” in historical drilling) which intrudes a broad zone of carbonate and fuchsite altered ultramafics rocks. Gold mineralisation was found to occur within the porphyry and altered host rock. Significant results are summarized in the following table

Update : July 2010 Site Visit Timmins