Latin Metals Inc. (
“Latin Metals”
or the
“Company”) -
(TSXV: LMS)
OTCQB: LMSQF) is pleased to announce results
of a recently completed rock sampling program at its 100% own
Auquis project (the “
Property”) located in the
Coastal Copper Belt, Peru. A total of 234 rock chip samples were
collected to follow up on anomalous soil samples collected earlier
in the year (see NR22-06, April 2022). Rock chip sampling has
highlighted copper grades ranging from 22 ppm to 12.8% copper
across the Property (
Figures 1 and 2).
Figure 1. Map highlighting areas where
recent rock chip sampling was completed over several peak soil
anomalies at Auquis Property, Coastal Copper Belt, Peru. Area
defined by red square shows very consistent copper mineralization
over 1km x 1km extent is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/22d3ff98-e59e-49c3-a351-7ed150fd0405
Keith Henderson, CEO, commented, “Our recent
follow-up sampling program has outlined a large 1km x 1km area of
consistent mineralization where 101 samples returned copper values
of up to 2.37% copper and 236 ppm molybdenum, with a mean value of
0.13% copper and 6.4 ppm molybdenum. We are very excited about
these initial results, with many areas of this large 4,000 hectare
property still unsampled.”
This portion of the Coastal Copper Belt is the
focus of attention for several major mining companies, such as
Newmont and Vale.
Figure 2. Location of the Auquis Property
in Peru and within the Coastal Copper belt is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3cc93fb3-062a-4705-9791-5d199bef54f5
Rock Chip Sampling Details
Recently completed rock chip sampling was
focused in the highly anomalous areas identified in a previous soil
sampling survey. A total of 234 rock chip samples were collected
with values up to 4.74% copper and 236 ppm molybdenum. Mean values
from the 234 samples are 0.10% copper and 5ppm molybdenum. These
results are very encouraging as regional results but looking more
closely at the southeastern portion of the Property, mineralization
is seen to be very consistent with highly anomalous values of
copper and molybdenum. In this large 1km x 1km area, 101 samples
returned values with a mean of 0.13% copper and 6.4 ppm molybdenum.
This area is characterized by multiple phases of intrusive rocks
with porphyritic textures and copper oxide mineralization.
Next Steps
Recent sampling was focused on testing existing
soil anomalies. Other areas of the Property are still open for
exploration, and the Company will extend the sampling program. Next
steps include a property-wide rock chip sampling and geological
mapping program in the next months to define the area for an
initial ground magnetic survey.
QA/QC
The work program at
Auquis 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 prepare and track
samples which are 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.
Investor Relations and
Marketing
The Company has engaged BTV-
Business Television (“BTV”) to improve exposure to
Canadian capital markets. The engagement is for an initial period
of three months, renewable for an additional three months. As
consideration, the Company will pay a total fee of
$31,850. BTV produces a half-hour weekly investment show, profiles
emerging companies across Canada and the US to bring investors
information for their portfolio. On air for 20+years, BTV is
broadcast nationally on BNN Bloomberg, FOX Business News, BizTV.
With Hosts, Taylor Thoen and Jessica Katrichak, BTV interviews
top analysts plus features companies at their location for an
insightful business perspective. Services provided under the
contract with Latin Metals include digital marketing on well-known
financial web platforms BNN Bloomberg, Forbes, Yahoo Finance,
Seeking Alpha, Financial Post, and Market Watch), Facebook advert
campaign, mobile optimized banners, and TV advert for broadcast on
BNN Bloomberg. To the Company’s knowledge, BTV does not have any
direct interest in the Company or its securities.
The Company has also engaged OTCWagon for a
one-month market awareness program. As consideration, the Company
will pay a total fee of $5,000. To the Company’s knowledge,
OTCWagon does not have any direct interest in the Company or its
securities.
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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