Proactive Investor's  Instablog

Laconia Resources (ASX: LCR) is strengthening its board expertise with the appointment of Saliba Sassine as a director and consultant to the company.

Sassine is a founding shareholder in Gold Mines of Peru, the vendor of the advanced stage Rasuhuilca gold-silver development project in Peru that Laconia recently acquired.

He has held the positions of chairman and chief executive officer in a number of listed and privately held companies, and has directed and advised on the activities of a number of start-up and early stage enterprises at pre and post-IPO.

Sassine is managing director of BlueMount Capital (WA), a member company of an international corporate capital group, chairman of S&A Capital, a commodities mercantile group, and a director of Red October Resources.

He has also worked as a senior ministerial and government adviser in Australia and represented the Western Australian Government on a number of state and national advisory boards and committees.

Sassine's experience will greatly benefit Laconia as it brings the Rasuhuilca project into production, with Sassine assigned to do this.

Rasuhuilca boasts high grade gold and silver with near term development potential and major exploration upside.

The project is situated in the same region as Hochschild Mining's (LON: HOC) major silver and gold operations, which host Reserves and Resources of more than 186 million ounces of silver and 1.1 million ounces of gold.

Laconia is aiming to bring the project into production within 12 to 18 months' time. Revenue from production will enable the company to undertake exploration for further resources at the project.

Rasuhuilca hosts a JORC Resource of 360,000 tonnes at 1.97 grams per tonne (g/t) gold and 179g/t silver, with a 2.5g/t gold equivalent cut-off grade.

Laconia has begin exploration work at Rasuhuilca, with the aim of upgrading both the size and category of the Resource.

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