(via Thenewswire.ca)
Vancouver, B.C. February 2, 2012 - La Quinta Resources Corporation (TSX-V: LAQ / Frankfurt: LQK / OTCBB: LQRCF) ("La Quinta" or "The Company") is pleased to report that it has received approval from the U.S. Forest Service ("USFS") to rehabilitate the portal to the primary underground workings. The portal rehabilitation is anticipated to redistribute ten cubic yards of sloughed material, followed by retimbering the entrance and installing a locking door. The work planned will not cause significant disturbance as that term is specified in regulations, and is anticipated to require no more than ten days to complete. The Company plans to perform the work as soon as weather permits. That work is recommended as part of the work program specified in the NI 43-101 compliant technical report completed for the Company in December 2011. The Company also is currently preparing a Plan of Operations to obtain permits from USFS for a drill program to test geophysical anomalies identified during work programs in 2011.
Standards of Disclosure for Mineral Projects ("NI 43-101"):
La Quinta can earn a 100% interest in the Black Jack Project by expending US$1 million in exploration and development costs by November 10, 2015 as now amended, and making payments to Black Jack Exploration Inc. ("Black Jack") that total US$250,000 by November 10, 2014. La Quinta also is required to issue 125,000 common shares to Black Jack upon approval of the acquisition by the Exchange. Black Jack retains an overriding net smelter royalty of 3%.
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 on its Black Jack properties 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 is a massive sulphide 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: info@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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