Latin Metals Inc. (“
Latin Metals”
or the “
Company”) -
(TSXV: LMS)
OTCQB: LMSQF) is pleased to announce rock
chip channel sampling results defining a new zone of copper
mineralization at the Lacsha project (“
Lacsha” or
the “
Project”) and initiation of an Induced
Polarization (“
IP”) geophysical survey.
Rock Chip Sampling
Continuous rock chip channel sampling results
show consistent values in copper and molybdenum, including 52m
grading 0.38% copper and 237ppm molybdenum, with copper values
ranging from 460 ppm copper to 45,200 ppm (4.52%) copper (Figure
1).
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b16a743-e85c-46c1-9c69-bf59b58f1361
Figure 1. New Lascha SW Zone continuous
rock chip sampling showing copper grades and
selected composite rock chip intercepts.
These results are in addition to assays reported
previously in Lacsha South and Lacsha North target areas, where
similar mineralization was identified (previous news release,
September 14, 2021), including 30m grading 0.22% copper and 76ppm
molybdenum in Lacsha South and 72m grading 0.20% copper and 62ppm
molybdenum in Lacsha North (Table 1).
Table 1: Comparison of Rock Chip Channel
Sample Grades at Lacsha Target Areas
Target Area |
Highlights Composite Grades(0.20% copper
or greater) |
Grade Range(%) |
Lacsha North |
72m @ 0.20% copper, 62ppm moly;incl. 46m@0.25% copper, 81ppm
moly |
0.07% - 0.68% |
Lacsha South |
30m @0.22% copper, 76ppm moly;and 26m @ 0.20% copper, 119ppm
moly |
0.04% - 4.10% |
Lacsha South-West |
136m @ 0.24% copper, 179ppm moly;incl. 52m @ 0.38% Copper, 237ppm
moly |
0.05% - 4.52% |
These copper-molybdenum values are interpreted
as indicating a leached zone typically found in arid environments
related to porphyry deposits. Individual samples were taken at 2 m
intervals. 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.
Induced Polarization Survey
Latin Metals is currently undertaking a
geophysical IP survey, which will be completed over the Lacsha
project. This survey will help us to define drill targets for
permitting. The survey is planned to cover all targets generated to
date for a total of 18 lines, each averaging 1.5 km in length.
Lines are orientated perpendicular to the principal NE-SW
mineralized trend.
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, Yamba copper-molybdenum, Auquis copper-gold and
Tillo, Para and Loli projects are all 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. He 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 acquiring
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 website (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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