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I am invested in LAQ on the TSX.V since 11/2006, and todays News are a Milestone (I think so)

 

http://www.stockhouse.ca/news/news.asp?new...74&tick=LAQ

 

Interesting detail:

 

Jean Luc Roy, MBA

Advisory Board

 

http://www.laquintaresources.com/advisors_...ied_persons.php

 

Here the NEWS:

 

La Quinta to Complete Acquisition of 7,010 Square km Gold Exploration Area in Democratic Republic of Congo

10/11/2007

VANCOUVER, BRITISH COLUMBIA, Oct 11, 2007 (MARKET WIRE via COMTEX News Network) --

 

La Quinta Resources Corporation, ("La Quinta" or "LAQ") (TSX VENTURE: LAQ) has today applied to the TSX Venture Exchange for approval to complete the acquisition of a contiguous group of 32 exploration licences, or Permis de Recherche, in Maniema and South Kivu Provinces in South Eastern DRC, owned by Wa Balengela Kasai-Investments Congo sprl, ("WB. Kasai", or "WBK",) a Congolese mineral exploration and exploitation company and La Quinta Resources Corporation's partner in the Democratic Republic of Congo. The licences held by WBK are for an area covering some 7,010 square kilometres of the highly prospective Twangiza - Namoya gold belt.

 

The properties in the WBK licence area have a long history of both formal and informal mining, having been extensively mined, mostly for alluvial gold, by BelgikaOr from the early 1940's to the 1970's when formal mining and exploration ceased. At least six sites of previous mining can be easily identified on the WBK properties and artisanal mining continues on much of the target areas today. The Agreement with WBK gives La Quinta the option to earn into up to 80% in a joint venture company with WBK, by funding US$ 10 million in exploration expenditure over five years, with a minimum expenditure of $2 million per year. Assuming that the exploration work, which will concentrate on outlining the hard rock gold sources of the earlier alluvial operations, is successfully concluded and properties can be taken to Feasibility Study status over the first five years of the agreement, then the Joint Venture will be entitled to develop the properties within the 7,010 square kilometre exploration licence areas by converting them to an Exploitation licence or licences, in accordance with the Code and Reglement Minier of the DRC.

 

Malcolm Swallow, La Quinta's Chairman, commented, "La Quinta has been working in Congo for some 12 months now and has successfully advanced its Kampene gold project obtained in May of this year. Simultaneously, we have assembled a team of expert geologists and support staff in Kinshasa and in Maniema Province to move forward our projects. The completion of the 43-101 report and the victory of WBK in the Courts in Congo have affirmed their rights to these projects and our rights to enter into the Memorandum of Understanding, first signed in August last year. While the legal debate in Congo has not ended and WBK continues to vigorously defend their rights to this property, we are confident in our partner's legal tenure over these projects and also in its right to enter into an agreement with us. The National Instrument 43-101 report completed by Wardell Armstrong International this September has further confirmed the value of this ground lying between Banro's Lugushwa and Namoya deposits. This 43-101 report will form a valuable reference document for the commencement of exploration over this extensive land package."

 

The properties to be acquired are considered to be highly prospective for gold, covering almost one third of the well defined Twangiza Namoya Gold belt and abutting and occupying almost all the ground between Banro Corporation's Lugushwa and Namoya licences, (two major gold exploration properties,) then extending some 120 kilometres to the West to LAQ's Kampene project. WBK's rights to these claims, was first established under the prior Zairian Mining Code in 1997. WBK's right to enter into a JV with La Quinta, plus its tenure over a number of these licences has been upheld by the Congolese Courts and the Government Mineral licensing office (the Cadastre Minier,) in the DRC and WBK has now received and have in their possession, the final and complete Exploration Licences, or "Permis de Recherche" for all 32 of the disputed claims, issued in late 2006 and early 2007. Further, WBK has received a written opinion from the College des Juristes of the Ministry of Mines and the Cabinet of the Cadastre Minier (the Government Authority that issues and manages mining licences in D.R. Congo,) that these Permis de Recherche are clearly the property of WBK only. This decision was signed and acknowledged by the Minister of Mines of D.R. Congo on 24th of February 2007. As a consequence of these decisions and WBK's successful case in the Commercial Court completed on March 14th 2007, negating claims by Banro Mining Congo sprl to have a prior accord with WBK, LAQ made the decision to re-commence work on the appropriate National Instrument 43-101 report on the 32 claim licence area, which was finally completed in September 2007 and is now posted to LAQ's web site and on SEDAR.

 

The proposed acquisition of these licences was first reported by La Quinta in its news release (number 06-11) dated August 28th, 2006. Completion of this acquisition was subsequently suspended following Banro Congo Mining sprl's ("Banro Congo", a subsidiary of Banro Corporation, a TSX listed company) claim that it had a prior agreement with WBK over the same property (See LAQ Press Release: 06-18, dated Oct 23rd 2006.). On October 18, 2006, Banro Congo initiated a court action in British Columbia, claiming that it had a prior agreement with WBK and that La Quinta's entering into the MOU amounted to wrongful interference. The suit in British Columbia has remained dormant pending the final disposition of the matter in the DRC.

 

WBK subsequently initiated legal action in the DRC against Banro Congo in Kinshasa. On March 14th 2007, WBK informed La Quinta that it had received a favourable judgement in the Commercial Court of the DRC. The Commercial Court at Kinshasa (DRC) refuted Banro Congo's claim that it held a binding agreement over WBK's licence area. The Commercial Court held that the prior protocol between WBK and Banro Congo signed in 2005 was not finalized, hence there are no obligations between WBK and Banro Congo and went on to award WBK $200,000 in damages plus costs. Banro Congo has appealed this decision to the Appeal Court in the DRC. In addition, Banro Congo has applied to the Supreme Court of Congo to have the ruling of the Commercial Court overturned and the Commercial Court President rebuked. Separately, WBK is an interested party with the Congolese Government in a legal action brought by a third party against the Congolese Government and the Cadastre Minier challenging the manner of issue of licences during the period of Force Majeur. WBK continues to vigorously defend their legal position and their validly granted Exploration Licences.

 

Upon the commencement of the Joint Venture, La Quinta will hold a 10% interest in the joint venture company and WB Kasai will hold a 90% interest. La Quinta shall have the right to increase its interest in the joint venture company to an 80% interest by making payments to WBK totalling US$1,500,000 and issuing 8,000,000 shares of La Quinta over the first three years of the agreement. Upon completion of all share issuances and cash payments, La Quinta will be vested with an 80% interest and WBK with a 20% interest in the joint venture company. One year after the signing of the Agreement, WBK will also be entitled to nominate an additional member to the Board of LAQ. During the exploration period ownership of the concessions shall remain vested with WBK and will be transferred to the joint venture company on completion of the Feasibility Study as contemplated in the MOU and formal documentation. WBK shall be responsible for assisting the joint venture company with government relations, social programmes, local liaison and expediting of the projects in the DRC, for which it will be entitled to charge an appropriate fee.

 

On any gold production, the joint venture company shall pay WBK a net smelter return of 2.5%. La Quinta has agreed to pay Finder's Fees in respect of the transaction in the amount of 550,000 shares payable by La Quinta in six instalments, over the first three years of the agreement, all prorated and made at the same time as La Quinta is required to make share payments to WBK; all subject to Exchange approval. There is an area of mutual interest established stretching 20 kilometres from the outside borders of any of the rights held in the joint venture company, which will encompass LAQ's Kampene project, which will be rolled into the JV at cost.

 

A map showing the location and extent of the exploration leases; the Company's adjacent Kampene Exploration Licence area, and the overall area's relationship to the Twangiza - Namoya gold belt; plus further discussion of the initiative by La Quinta Resources in the Democratic Republic of Congo, can be found on the Company's web site at www.laquintaresources.com It is expected that LAQ and WBK will commence work on the Licence area as soon as the acquisition process is complete. The completion of the proposed transaction remains subject to the approval of the Exchange.

 

Wa Balengela- Kasai Investments Congo sprl is based in Kinshasa and holds extensive mineral leases in the DRC. WBK has exploration agreements with two major resource groups for Diamonds and has been instrumental in introducing other Companies into Congo for Copper and Cobalt. WBK's principals are Dr. F. Bodika, a Congolese thoracic surgeon and Mr. J. Malaba, a Congolese businessman both of whom have extensive experience in the mineral industry over the last 30 years.

 

Malcolm Swallow, the Chairman of the Company, is a Vancouver based Mining Engineer, (B.Sc. - Hons. Mining Engineering - Imperial College, London,) with over 35 years operating and management experience in the Industry. He is an Associate of the Royal School of Mines, a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer in the UK. He is also a registered Professional Engineer in British Columbia, Canada and acted as the Qualified Person for this news release, having visited a number of the properties in the 7,010 square kilometre WBK licence area.

 

This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.

 

On behalf of the Board

 

Malcolm JA Swallow, Chairman and CEO

 

The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release, which has been prepared by management.

 

Contacts: La Quinta Resources Corp. Glen Watson Senior Vice President (604) 685-1818 or Toll Free: 1-877-891-4653 Email: info@laquintaresources.com Website: www.laquintaresources.com

 

SOURCE: La Quinta Resources Corporation

 

mailto:info@laquintaresources.com http://www.laquintaresources.com

Copyright 2007 Market Wire, All rights reserved.

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http://www.stockhouse.ca/news/news.asp?new...64&tick=LAQ

 

La Quinta Discovers Two Massive Quartz Vein Structures on its Kampene Gold Property, Maniema Province in Congo-DRC

 

VANCOUVER, BRITISH COLUMBIA, Oct 16, 2007 (MARKET WIRE via COMTEX News Network) --

 

La Quinta Resources Corporation, ("La Quinta" or "LAQ") (TSX VENTURE: LAQ) is announcing today the first results of its ongoing exploration program on the Kampene exploration license no. 4926, in the DRC. Work has been undertaken under a lease agreement with the Association Miniere du Kivu (AMIKI sprl) which was announced earlier this year. The work was carried by a team of four Congolese senior geologists led by a Swiss-born expatriate geological engineer. The team is supported by very efficient local workers, well trained in this rain forest environment.

 

The Kampene project covers 34.2 square kilometers and includes an exploitation license for gold, silver coltan (colombite-tantalite) and tin (cassiterite). Kampene has a long history of extensive artisanal mineral production dating back to the 1940's and the Belgian era, when mineral production for gold, cassiterite and coltan formed the economic basis for the formation of the town, complete with its hydro-electrical power plant, airstrip, schools, churches and hospital.

 

After the first seven weeks of fieldwork on the Kampene license, Phase I of the program was recently completed, consisting of a regional soil sampling investigation aimed at identifying the hard rock sources of the alluvial mineralisation mined in the past. This survey employed a grid of 400-meter spaced N-S lines with a 200-meter interval for individual samples. A total of 453 two-kilogram samples were collected, shipped by air to Kinshasa and are on their way to the ALS-Chemex laboratories in Johannesburg, South Africa for preparation and multiple element assay determinations.

 

At the beginning of October, a Phase II geological program was commenced. Phase II consists of the field verification of twenty (20) structural anomalies interpretated through LANDSAT Satellite imagery investigation complemented by geological mapping of the license area. The dense equatorial forest with its thick top soil cover and limited outcrop occurrence represents a very challenging work environment.

 

This second phase was initiated in a hilly topographical environment. Here a 220 meter-long and 20 meter-thick massive quartz vein structure was outlined. The continuous N-S trending structure dipping at 80 degrees seems to be hosted by a blackish to greenish, silicified schist. The contact zone between the host rock and the vein is not visible in outcrop and both ends of the structure are still open in length, due to a shortage of easily visible outcrop. The distribution of quartz vein boulders in the valley below the structure tends to indicate that it is much longer than observed to date.

 

Additionally, a second vein structure with the same orientation has been detected thirty meters east of the first massive occurrence. This structure can be followed over an initial 50 meters and shows a thickness of 2 meters at surface. Up to now, no visible gold mineralization has been detected, but seven samples were taken perpendicular to the massive vein structure for analysis (sampling interval of 3 meters) and trenching of the primary and secondary structure continues. Further, the erratic schist blocks found in the environment of these structures contains signs of intense quartz-carbonate stockwork veining. Results of assays are pending.

 

Theses quartz veins as well as the stockwork veining is an indication of intense hydrothermal activity probably triggered by a tectonically active zone in a high stress regime. This activity could lead the host rock to burst and implement a higher permeability area of the system. The increase of permeability would allow mineralizing hydrothermal fluids to circulate impregnating the environment. The veins identified to date, (large and small scale) as well as the silicified schist (alteration feature) are promising indications of a fluid flow regime with the potential of being mineralized (vein mineralization as well as disseminated mineralization in the host rocks). This phase of investigation is still in progress and assay results will be reported immediately, as soon as available.

 

La Quinta Resources Corporation, ("La Quinta" or "LAQ") acquired the Kampene Project in February 2007 (see Press Release dated February 20th 2007) and has recently (see Press Release dated October 11, 2007) applied to the TSX Venture Exchange for approval to complete the acquisition of a contiguous group of 32 exploration licences, or Permis de Recherche, in Maniema and South Kivu Provinces in South Eastern DRC, covering some 7,010 square kilometres of the highly prospective Twangiza - Namoya gold belt. In addition the Company is working in Mexico on the Orofino Project in Sonora State. A map showing the location and extent of the exploration leases; the Company's adjacent Kampene Exploration Licence area, and the overall area's relationship to the Twangiza - Namoya gold belt; plus further discussion of the initiative by La Quinta Resources in the Democratic Republic of Congo and its gold exploration work in Mexico, can be found on the Company's web site at www.laquintaresources.com.

 

Michel Cormier, the President and Chief Operating Officer of the Company, is a Montreal-based Geological Engineer with over 33 years of exploration, operation and management experience in the industry. He is also a registered Professional Engineer in Quebec, Canada and acted as the Qualified Person for this news release, being responsible for the execution and supervision of the program. He recently visited the Kampene property and the Company's Mexico operations.

 

This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.

 

On Behalf of the board

 

Malcolm JA Swallow, Chairman and CEO

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release, which has been prepared by management.

 

Contacts: La Quinta Resources Corporation Glen Watson Senior Vice President (604) 685-1818 or Toll Free: 1-877-891-4653 Email: info@laquintaresources.com Website: www.laquintaresources.com

 

SOURCE: La Quinta Resources Corporation

 

mailto:info@laquintaresources.com http://www.laquintaresources.com

Copyright 2007 Market Wire, All rights reserved.

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  • 2 weeks later...

La Quinta Receives Conditional Approval of the Acquisition of 7,010 Sq Km in Maniema South Kivu Gold Belt

Monday, October 29, 2007; Posted: 10:30 AM

 

VANCOUVER,

BRITISH COLUMBIA, Oct 29, 2007 (Marketwire via COMTEX) -- LAQ | charts

| news | PowerRating -- La Quinta Resources Corporation, ("La Quinta"

or "LAQ") (TSX VENTURE:LAQ) is pleased to announce that it has received

conditional approval of its application to the TSX Venture Exchange to

complete the acquisition of a contiguous group of 32 exploration

licences, or Permis de Recherche, in Maniema and South Kivu Provinces

in South Eastern DRC, covering some 7,010 square kilometres of the

highly prospective Twangiza - Namoya gold belt. (See Press Release

dated October 11, 2007.) This acceptance is subject to completion of

formal acquisition agreements and meeting of a number of other minor

requirements and a funding plan for the acquisition.

 

Malcolm

Swallow, the Company's Chairman said "We as a Board are relieved, after

some 15 months of due diligence, to be able to bring this transaction

to close and to commence exploration on such a highly prospective piece

of ground, in a known gold belt, abutting and between recently

discovered major gold deposits. We look forward to working with our

partners Wa Balengela Kasai investments sprl to outline and discover

new gold projects in this highly prospective gold belt."

 

The

company is currently working adjacent to these claims on the Kampene

gold project also in DRC. (See Press Release dated October 16, 2007) In

addition the Company is working in Mexico on the Orofino Project in

Sonora State. Because of the extent of its current holdings

overseas, the Board of La Quinta has taken the decision to allow its

holdings in BC, Canada, centered around the Crowsnest and Howell

Properties, to lapse on the expiry of its recent agreements.

 

A

map showing the location and extent of the exploration leases; the

Company's adjacent Kampene Exploration Licence area, and the overall

area's relationship to the Twangiza - Namoya gold belt; plus further

discussion of the initiative by La Quinta Resources in the Democratic

Republic of Congo and its gold exploration work in Mexico, can be found

on the Company's web site at www.laquintaresources.com.

 

Malcolm

Swallow, the Company's Chairman and CEO and a Qualified Person, both in

BC, Canada and in Europe, acted as the Qualified Person for this news

release, being responsible for the acquisition of this property. He

recently visited the 7,010 Sq Kms, the Kampene property and the

Company's Mexico operations.

 

This Press Release includes

forward-looking statements that are subject to risks and uncertainties.

All statements within, other than statements of historical fact, are to

be considered forward looking. There can be no assurances that such

statements will prove accurate and, therefore, readers are advised to

rely on their own evaluation of such uncertainties.

 

On Behalf of the board

 

Malcolm JA Swallow, Chairman and CEO

http://www.tradingmarkets.com/.site/news/S...%20News/755774/

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  • 4 months later...

Pinetree acquires 661,500 La Quinta shares

 

2008-03-14 13:13 ET - News Release

 

See News Release (C-PNP) Pinetree Capital Ltd

 

Mr. Larry Goldberg of Pinetree reports

 

PINETREE CAPITAL LTD. ACQUIRES COMMON SHARES OF LA QUINTA RESOURCES CORP.

 

Pinetree Capital Ltd., through a series of transactions ending on Feb. 22, 2008, has acquired ownership of 661,500 common shares of La Quinta Resources Corp. through the facilities of the TSX Venture Exchange, representing approximately 2.4 per cent of the total issued and outstanding common shares of La Quinta as of Feb. 22, 2008. As a result of this transaction, Pinetree held, as at Feb. 22, 2008, a total of 3,661,500 common shares of La Quinta and rights to acquire an additional 1.5 million common shares of La Quinta upon the exercise of convertible securities. In the event that the convertible securities are fully exercised, the holdings of Pinetree represent a total of 5,161,500 common shares of La Quinta, or approximately 17.5 per cent of all issued and outstanding common shares as at Feb. 22, 2008, calculated on a partially diluted basis assuming the exercise of the convertible securities only.

 

These transactions were made for investment purposes and Pinetree could increase or decrease its investments in La Quinta depending on market conditions or any other relevant factor.

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  • 1 month later...

La Quinta Signs Final Agreements for the Acquisition of 7,010 Sq Km in Maniema South Kivu Gold Belt-DRC

 

La Quinta Resources Corporation, ("La Quinta," "LAQ," or the “Company”) together with its partner in the Democratic Republic of Congo, Wa Balengela Kasai Investments Congo sprl, (WBK) are pleased to announce that they have signed formal agreements completing the formation of a Joint Venture Company which will option and explore a contiguous group of 32 exploration licences, or Permis de Recherche, granted to WBK by the Cadastre Minier under the Mining Code of the Democratic Republic of Congo. The Research Permits or Exploration Licenses are located in Maniema and South Kivu Provinces in South Eastern DRC abutting and covering all the ground between Banro Corporation’s (TSX:BAA) Lugushwa and Namoya gold properties. The WBK Licenses cover some 7,010 square kilometres of the highly prospective Twangiza - Namoya gold belt and extends some 120 kilometres to the West. Banro Corporation has indicated the discovery of multi-million ounce deposits of gold on both Lugushwa and Namoya.

 

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