Latin American Minerals Inc. - Drilling Update
Toronto, May 22, 2018 - Latin American Minerals Inc. (TSXV: LAT) (the "Company") is pleased to announce an update on its drilling activity at its Paso Yobai Gold Project. The company has two rigs operating and has completed 11 drill holes for a total of approximately 4000m. 10 of these holes are either currently in the assay lab or in transit to the lab in Mendoza, Argentina. The company to date has tested 4 targets and has recently begun to focus on the central area of the Tacuru gold zone. The current holes are testing for a feeder to the approximately three square kilometer high grade gold anomaly. Drilling is currently at the south eastern portion of the anomaly where the company has previously intersected high grade gold mineralization; including 94.6 gpt gold over 2.6m at 34 m depth and 107.7 gpt gold over 3.3m at 80m (see release dated April 24, 2012).
"The drilling program to date has intersected multiple mafic sills which intrude sandstones down to vertical depths of greater than 250m. Over the entire property, gold is observed to be hosted within sills and at the contact with the sandstone. While our program initially began with a regional focus, we have since turned all attention to targeting the Tacuru target due to the high-grade nature and extent of the gold historically observed on the property."
The company is anticipating that assays will begin to be received over the next several weeks.
Mathew Wilson, President and CEO states: "The blueprint to a successful exploration company is to find great people to discover, explore, interpret, and operate in areas where these people deem there to be great potential for mineralization. With people like Jeremy Niemi and Bira de Oliveira leading our program and the nature of the mineralization seen to date, I think this company is primed for exciting things."
Sampling and Analytical Protocols
The sampling and analytical protocols were established, implemented and supervised by or under the direction of Jeremy Niemi, P. Geo., the Company's internal Qualified Person as defined by National Instrument 43-101. At the drill site, the core was placed in core boxes and delivered to a secure field core processing centre. The core was split by trained technicians using a diamond saw and logged by professional geologists. The nominal sample interval was approximately 1m, though locally the interval might be increased to 2 m or decreased to 0.3 m, the interval being determined by the logging geologists based on geologic indicators. Half of the core was stored in the core box as a permanent reference of the sampled interval and half of the designated sample set was cataloged and sealed in plastic sample bags for delivery to the Company's internal sample preparation facility at its Independencia Mine. The core samples are crushed, pulverized, dried and samples are split. Nominally, 1000g of each sample is ground to minus 200 mesh, split and the assay portion shipped by bonded courier to the Alex Stewart International in Mendoza, Argentina. In the general case, gold was analyzed by fire assay with atomic absorption finish using a 50 gram sample. Accuracy of results is tested through the systematic inclusion of blanks, duplicates and certified reference standards.
Assays of Coarse Visible Gold: Coarse gold samples often exhibit a pronounced nugget effect due to the presence of discrete particulate gold. This may generate a scatter in the analytical results making it difficult to assess the true gold concentration. To improve the analytical reproducibility of samples identified with visible gold, screen fire assays were employed. Approximately 1000 gr of prepared pulp is sieved and the plus 75 micron (200 mesh) portion of the sample is screened out and assayed in its entirety. The minus 75 micron portion of the sample is homogenized and a 30 gram fusion is used to determine its grade.
About the Company
Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold projects in Paraguay. Management has identified exploration targets at Independencia Mine, and six new gold zones on the Company's adjacent exploration claims, for drill testing. The current drill program is testing 10 priority targets with a primary focus on the Tacuru zone. This property package comprises the Company's 15,020 hectare Paso Yobai gold project.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Jeremy Niemi, P.Geo., a Qualified Person under National Instrument 43-101. Mr. Niemi is Director, Exploration of the Company.
For more information, please contact:
Mathew Wilson, Mfin, CFA
President and CEO
Tel: 1-416-643-7630
E-mail: information@latinamericanminerals.com
Website: www.latinamericanminerals.com
The Company's public documents may be accessed at www.sedar.com.
For further information, please visit our website at www.latinamericanminerals.com or email us at
information@latinamericanminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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