Here's the release...Will be interesting to see how this is...

Here's the release...

Will be interesting to see how this is received by the market considering the lack of interest and confidence in the small exploration companies at the moment.

I couple of important statements are highlighted below..

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Encouraging Results from exploration drilling at Rapu Rapu.

Lafayette Mining today announced encouraging results from its initial drilling program at the Rapu Rapu project in the Philippines. The Company’s first quarter exploration program was targeted over the current Ungay Malobago orebody, and comprised a 22-hole drill program of 1,188 metres, designed to identify extensions to the current orebody. Results from the program included:

• [email protected]% Cu, 3.04% Zn, 2.07 g/t Au and 93.68 g/t Ag,
• [email protected]% Cu and 2.16 g/t Au; and
• [email protected]% Cu, 6.33% Zn and 1.98 g/t Au.

Lafayette’s Managing Director, Mr Andrew McIlwain, stated that these encouraging results [b]will increase the resource within the Ungay pit substantially and said that the Company intends to be in a position to release an updated JORC compliant resource by the end of June 2005.[/b]

Exploration activities will now focus on the nearby Hixbar deposit where an electromagnetic survey has just been completed. [b]The survey indicated several strong induced polarisation responses including a significant anomaly trending north west, and these will be targeted with a follow up drilling program to be completed in the second quarter.[/b] This program will include 4,500m of reverse circulation (RC) drilling targeting the deeper anomaly and the known zones
of oxide mineralization at the eastern end of the Hixbar mine with the objective of defining a JORC compliant resource in the Hixbar area.

[b]“The recently completed capital raising enables the Company to now focus on an aggressive exploration program to (initially) increase the life of the Rapu Rapu project,” Mr McIlwain said.[/b]