Latin Metals Inc. (
“Latin Metals”
or the
“Company”) -
(TSXV: LMS)
(OTCQB: LMSQF) announces discovery of
outcropping copper-molybdenum mineralization within the previously
defined Lacsha South geochemical anomaly. Continuous rock-chip
sampling was completed with each sample taken over 2 meters;
results show broad and consistent copper and anomalous molybdenum
values that define a large zone that is unconstrained by the
sampling to date (
Figure 1). The Company’s
100%-owned, 4,000-hectare Lacsha project is one of three
large-scale copper exploration projects in Peru.
Outcrop is dominated by a granodiorite intrusive
showing broad zones of oxide copper mineralization, within only
part of a much larger 2km by 1km geochemical anomaly previously
defined by talus sampling.
Composite grades across consecutive sample
sections are highlighted below (Figure 1c) and
include:
- 26m grading
0.20% copper and 119ppm molybdenum
- 30m grading
0.22% copper and 76ppm molybdenum
- 74m grading
0.14% copper and 47ppm molybdenum
- 28m grading
0.17% copper and 44ppm molybdenum
True thickness is not possible to determine from
the current level of available data, but sample orientation is
designed to be as representative as possible.
Keith Henderson, President and CEO commented “We
are very excited to receive these initial rock chip results from
Lacsha South, where the remarkable consistency in assays, including
30m grading 0.22% copper and 76ppm molybdenum, could represent the
upper weathered portion of a potentially large porphyry system on
the property. Additionally, similar sampling has been undertaken at
Lacsha North, where rock chip sampling has been completed over
approximately 326m of strike length, with results pending. Work is
continuing with the objective to define drill targets over the next
few months.”
Ground magnetic surveys will commence in August,
with grids covering both Lacsha North and South anomalies. The
survey will help map intrusive contacts and aid in the detection of
potentially mineralized breccia bodies at depth and in the
definition of drill targets. Talks are underway with nearby
communities to secure the necessary access agreements required for
drill permits.
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/02694ed8-1e6f-431b-b977-c5a2e5707e56
Figure 1 a. Lascha Project
highlighting North and South targets defined by talus
sampling.1 b. Location of the continuous channel
sampling within the Lacsha South target area.1 c.
Detail map showing rock chip sample copper grades values and
selected composite rock chip intercepts.
Coastal Copper Belt
The Coastal Copper Belt in Peru is a Cretaceous
belt hosting a variety of deposit types including Porphyry,
Epithermal, VMS and IOCG. Latin Metals’ 100%-owned Lacsha
copper-molybdenum and Auquis copper-gold projects are both located
in the northern Lima-Ica portion of the coastal
belt.
QA/QC
The work program at Lacsha was designed and
supervised by Eduardo Leon, the Company's Exploration Manager, who
is responsible for all aspects of the work, including the quality
control/quality assurance program. On-site personnel at
the project rigorously collect and track samples which are then
security sealed and shipped to the ALS laboratory in Lima. Samples
used for the results described herein are prepared and analyzed by
multi-element analysis using an inductively coupled mass
spectrometer in compliance with industry standards.
Qualified Person
The technical content
of this release has been approved for disclosure by Keith J.
Henderson P.Geo, a Qualified Person as defined by NI 43-101 and the
Company’s CEO. Mr. Henderson is not independent of the
Company, as he is an employee of the Company and holds securities
of the Company.
About Latin
Metals
Latin Metals is a
mineral exploration company acquiring a diversified portfolio of
assets in South America. The Company operates with a Prospect
Generator model focusing on the acquisition of prospective
exploration properties at minimum cost, completing initial
evaluation through cost-effective exploration to establish drill
targets, and ultimately securing joint venture partners to fund
drilling and advanced exploration. Shareholders gain exposure to
the upside of a significant discovery without the dilution
associated with funding the highest-risk drill-based exploration.
On Behalf of the Board
of Directors of
LATIN METALS INC.
“Keith Henderson”
President & CEO
For further details on the Company readers are
referred to the Company's web site (www.latin-metals.com) and its
Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Keith Henderson
Suite 890999 West Hastings StreetVancouver, BC, V6C 2W2
Phone: 604-638-3456E-mail: info@latin-metals.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains forward-looking
statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable
Canadian and U.S. securities legislation, including the United
States Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact, included
herein including, without limitation, statements regarding the
negotiation of the Option Agreements and exercise of the Option for
the Properties, the anticipated content, commencement, timing and
cost of exploration programs in respect of the Properties and
otherwise, anticipated exploration program results from exploration
activities, and the Company's expectation that it will be able to
enter into agreements to acquire interests in additional mineral
properties, the discovery and delineation of mineral
deposits/resources/reserves on the Properties, and the anticipated
business plans and timing of future activities of the Company, are
forward-looking statements. Although the Company believes that such
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Often, but not always,
forward looking information can be identified by words such as "pro
forma", "plans", "expects", "may", "should", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", "believes",
"potential" or variations of such words including negative
variations thereof, and phrases that refer to certain actions,
events or results that may, could, would, might or will occur or be
taken or achieved. In making the forward-looking statements in this
news release, the Company has applied several material assumptions,
including without limitation, market fundamentals will result in
sustained precious metals demand and prices, the receipt of any
necessary permits, licenses and regulatory approvals in connection
with the future development of the Company’s Argentine projects in
a timely manner, the availability of financing on suitable terms
for the development, construction and continued operation of the
Company projects, and the Company’s ability to comply with
environmental, health and safety laws.
Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
differ materially from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such risks and other factors include, among others,
operating and technical difficulties in connection with mineral
exploration and development and mine development activities at the
Properties, including the geological mapping, prospecting and
sampling programs being proposed for the Properties (the
"Programs"), actual results of exploration activities, including
the Programs, estimation or realization of mineral reserves and
mineral resources, the timing and amount of estimated future
production, costs of production, capital expenditures, the costs
and timing of the development of new deposits, the availability of
a sufficient supply of water and other materials, requirements for
additional capital, future prices of precious metals and copper,
changes in general economic conditions, changes in the financial
markets and in the demand and market price for commodities,
possible variations in ore grade or recovery rates, possible
failures of plants, equipment or processes to operate as
anticipated, accidents, labour disputes and other risks of the
mining industry, delays or the inability of the Company to obtain
any necessary permits, consents or authorizations required,
including TSX-V acceptance for filing of the Option Agreements, any
current or future property acquisitions, financing or other planned
activities, changes in laws, regulations and policies affecting
mining operations, hedging practices, currency fluctuations, title
disputes or claims limitations on insurance coverage and the timing
and possible outcome of pending litigation, environmental issues
and liabilities, risks related to joint venture operations, and
risks related to the integration of acquisitions, as well as those
factors discussed under the heading "Risk Factors" in the Company's
latest Management Discussion and Analysis and other filings of the
Company with the Canadian Securities Authorities, copies of which
can be found under the Company's profile on the SEDAR website
at www.sedar.com.
Readers are cautioned not to place undue
reliance on forward looking statements. Except as otherwise
required by law, the Company undertakes no obligation to update any
of the forward-looking information in this news release or
incorporated by reference herein.
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