Latin American Minerals Announces Final Drill Results and Corporate Plans Moving Forward
July 24, 2018 - Toronto, Ontario / TheNewswire / Latin American Minerals Inc. (TSXV: LAT) (the "Company") is announcing assay results from the final three holes of its 2018 exploration drill program at its Paso Yobai gold project in Paraguay. The program comprised of 24 holes totaling 5,400m at the Tacuru, Tacuru North and Moroti exploration targets.
The Tacuru exploration target was first drilled in 2012. The gold intervals were hosted within a silicified zone in the sediments which displayed a texture of bladed quartz-carbonate. The primary goal of the 2018 drilling was to locate and determine an orientation to the silicified zone, which may be the feeder to the gold identified in drilling and in soil samples at the site.
As stated in the Company's press release from July 3, 2018, the silicified zone was intersected in hole LAT-18-019 at a depth of approximately 170 metres and subsequently intersected in follow up holes LAT-18-020 through LAT-18-024. Initial assays demonstrate that the zone is mineralized with anomalous gold and appears to be relatively steeply dipping. Textures of the quartz mineralization, such as banded coliform and bladed, along with a non-existent sulphide content suggest the makings of a low sulphidation epithermal system. The Company has interpreted results to date as intersecting the upper portion of the system and the more prospective high-grade gold part of the system may be below. Results from the Company's final three holes are presented below in Table 1.
Table 1. Drill hole assay intersections.
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All intercepts reported represent core lengths; true width will vary depending on the angle of intersections of the diamond drill and the targeted zone. Holes are planned to intersect mineralized zones as close to perpendicular as possible.
Corporate Plan Moving Forward
Mathew Wilson, President and CEO stated, "despite challenging markets, we believe we have found the top of a potential feeder structure for the 2km x 1km Tacuru gold anomaly. We continue to work to find a partner on this asset, while continuing to conserve as much cash as possible during this time in an effort to maximize shareholder value."
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 sample preparation facility at the 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 laboratory 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.
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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