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Vancouver, B.C. February 22, 2012 - La Quinta Resources Corporation (TSX-V: LAQ / Frankfurt: LQK / OTCBB: LQRCF) ("La Quinta" or "The Company") will initiate its 2012 diamond drilling campaign at the Easter Project on March 1, following the completion of access road rehabilitation to the property and scheduling of its drill contractor. During the past months the Company refined the design of its drilling program to focus primarily on the West Vein at Easter to assess this new geological target and determine the initial potential for a resource expansion a kilometer west along strike from the Easter Main Vein.
"The West Vein target will be the initial focus of this drilling campaign," said CEO Glen Watson. "The results of surface sampling at the West Vein target from our 2011 fieldwork are significant enough to cause us to re-evaluate our priorities for drill targeting to prove-up what we believe to be a discovery of interest. The planned diamond drilling program will test the shallow extensions of the 10 g/t gold grades exposed at surface with a minimum of six drill holes totaling approximately 1,000 meters."
The Company has posted a feature page on the West Vein to its web site. See highlights of the West Vein drilling campaign at laquintaresources.com/WestVein Feb 2012
The Company has engaged American Drilling of Spokane, Washington to conduct the diamond drilling, with delivery of PQ - sized core. Samples will be processed and analyzed at ALS Minerals in its Reno, Nevada laboratory.
The information contained in this news release has been reviewed, approved and deemed relevant by Walter Martin, the Company's President, C.P.G., a qualified person as defined under Standards for Disclosure of Mineral Projects (National Instrument 43-101).
La Quinta can earn a 65% interest in the Easter Project by incurring US$2 million in exploration expenditures during the five year term ending January 4, 2015, and by making payments to Pilot Gold Inc. ("Pilot Gold") that total US$190,000. Terms of the earn-in arrangement in the first year include a US$30,000 payment (paid) and a work requirement of US$100,000 (expended). Upon exercising the option to form a joint venture at the end of year five, La Quinta is required to issue 500,000 common shares to Pilot Gold. Pilot Gold retains a net smelter royalty of 2.5% - 4%, depending on the price of gold, if it opts not to participate as a 35% co-venture partner.
About La Quinta Resources Corporation
La Quinta is a junior precious metals exploration company actively seeking mineral opportunities for the benefit of our stakeholders. Currently the Company is focused on exploring for gold and silver on the Easter Project, and gold, silver and base metals on its Black Jack property, both located in Nevada. The Easter Project is underlain by an epithermal quartz-adularia vein stockwork system hosted within Tertiary volcanic rocks of the Caliente Caldron Complex of southeastern Nevada. Numerous drill programs were conducted over the past 27 years by several operators. The resultant 121 holes and five adits were used to outline a 43-101 compliant resource of 2.6 million tons at 1.3 g/t gold (0.038 oz/t) and 14 g/t silver (0.4 oz/t) within an area of gold mineralization with a strike length of at least 6,450 feet (1,966 m) and drill-defined widths up to 90 feet (27.4 m). Significant prior intercepts include up to 0.194 oz. Au / ton over 90 feet (6.6 g/t over 27.4m true thickness), including 0.549 oz. Au / ton over 15 feet (18.8 g/t over 4.5m) and 0.084 oz. / ton over 110 feet including 0.534 oz. Au / ton over 5 feet (2.88 g/t over 33.5 m w/internal 18.3 g/t in 1.52 m). The Black Jack property, an early-stage exploration target in NE Nevada, consists of old mine workings that contain silver- gold-base metals veins hosted in Ordovician limestones that overlie nearby Cambrian shale. The Carruthers Pass property, located in British Columbia, is a massive sulfide project with copper, gold and silver located 70km south of Kemess copper-gold mine. The project consists of 8 claims covering 3,250 hectares. No resources have been identified in either the Black Jack or Carruthers Pass properties.
On behalf of the board
Glen Watson
CEO and Director
For further information, please contact:
Glen Watson, CEO and Director: 1(604) 803-5229
Walter Martin, President and Director: 1(775) 225-8514
Ed Baer, Director: 1(416) 804-0512
La Quinta Resources Corp.
1(604) 943-1199 - Email: glen@laquintaresources.com - Web Site: www.laquintaresources.com
"Neither 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." This document includes forward- looking statements. When used in this document, the words "potential", "plan", "could", "estimate", "expect", "intend", "may", "should", and similar expressions are intended to be among the statements that identify forward-looking statements. Although La Quinta believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements."
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