SHAREHOLDER UPDATE 2016
On Saturday, October 1st 2016, the company launched a 10,000 metre drill program to further explore the 6 prominent gold targets on its 15,020 hectare, Paso Yobai gold property in Paraguay. At the time of writing approximately 150 metres have been completed.
Previous drilling completed in 2012 (see press release dated July 24, 2012) included the following highlights:
DDH-BT-08: o true width 22.0 m with 4.20 gpt gold including 5.69 m with 11.24 gpt,
beginning at surface; o true width 2.13 m with 94.6 gpt gold including 0.7 m with 271.2 gpt at
34.6. m vertical depth; and o true width 2.7 m with 107.7 gpt gold including 0.47 m with 611.07 gpt at
83.3 m vertical depth.
The current drill program has begun with a single rig, owned by the company and operated by a seasoned driller who is a LAT employee and is fluent in Spanish. The driller has worked in North and South America, including Ecuador, Peru, Guatemala, Chile, Panama and Argentina.
Technical advice on the drill program is being provided by Dr. Quinton Hennigh, a world renowned economic geologist with more than 25 years of practical experience with similar gold systems. (See press release dated 22nd August 2016.)
In proximity to the process plant, LAT holds rights to several mineral properties, including the Independencia Open Pit Gold Mine, located on the Discovery Trend. The Discovery Trend has been drill tested for more than three kilometers along strike. It consistently includes near surface drill intercepts of ore containing greater than 2 g/t Au and ranging from more than 1 m to upwards of 10 m in thickness. Available historic drilling information records some bonanza intercepts of more than 45 g/t Au measured over more than one meter. While there is no suggestion that these bonanza grades are continuous, significant gold mineralization can be inferred to exist at 2 g/t or better. For the most part, drilling to date has been restricted to shallow depths, targeting zones that can potentially be mined by surface methods. Free digging saprolite has been recorded typically to depths of approximately 15 m.
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