Latin American Minerals Reports Initial Results From The First Four Holes Drilled At The Paso Yobai
Reconfiguration Of The Gold Processing Plant In Final Stages Prior To Commissioning.
January 19, 2017 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “Company”) announces results from the first four drill holes of the 10,000 metre drill program at its Paso Yobai gold project in Paraguay.
Trenching, drilling, open pit excavation and bulk sampling have intersected gold mineralization over the 3000 metre long Discovery Trend. Multiple ore shoots have been identified in this work. The present drilling was situated to test at depth the gold mineralization sampled in Trench 6, located on this trend.
Basil Botha, President and CEO of the Company stated “The Company has a long list of targets ready for drilling, which have been identified though surface sampling and geophysical methods. This initial area is located within the permitted mining concession. Each drill hole, while not necessarily conclusive in itself, gives us more information on the very complex geological structure at Paso Yobai and once all the data from the rest of the program is combined, we will have greater clarity for future definition of the multiple ore shoots on this project.”
Results for diamond drilling:
Assays of Coarse Visible Gold: Coarse gold samples often exhibit a pronounced nugget effect due to the presence of discrete particulate gold. This may generate a pronounced scatter in the gold analytical results making it difficult to assess the true gold concentration. To improve the analytical reproducibility of samples identified with visible gold, an accelerated cyanide leach assay was performed by ALS utilizing LeachWELLTM tabs. Approximately 500 gr of material is split from the crushed, milled and homogenized sample prior to a 4 hour accelerated leach and atomic absorption assay.
In several instances of visible gold in samples, duplicate assays were completed using screen fire assay methods. Approximately 1000 gr of prepared pulp is sieved and the plus 75 micron (200 mesh) portion of the sample is screened out and assayed in its entirety. The minus 75 micron portion of the sample is homogenized and a 30 gram fusion is used to determine its grade. The final reported assay value is the weighted average of both fractions, coarse and fine.
Completion of Plant Reconfiguration
Independencia Mine update the reconfiguration of the gold processing plant is in the final stages of the build out with the lining of the three 7,500 tonne VAT leach pads completed prior to the end of 2016. The carbon columns for the capture of the gold solution will be completed this week and the final few weeks will be to connect all the pumps and pipes.
This is a fully integrated gravity gold processing system designed by JT Boyd & company, Pittsburg, U.S.A. Key process modifications proposed by BOYD include de-sliming ahead of the process plant, reconfiguration of the existing gravity circuit, modification of existing heap leach pads to a vat leach system, and various upgrades and modifications to the carbon loading and stripping circuits. With these modifications, it is expected that total gold recovery will be approximately 90%, with approximately 55% of total recovered gold reporting to the gravity circuit and 45% to the leach circuit. It should be noted that these recoveries are based on empirical data from LAT’s past operations, and on BOYD’s.
Sampling and Analytical Protocols
The sampling and analytical protocols were established, implemented and supervised by or under the direction of Paul Sarjeant, 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 by and logged by professional geologists. The nominal sample interval was approximately 1m, though locally the interval might be increased to 2m or decreased to 0.5m, 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 interval sampled and half of the designated sample set was cataloged and sealed in plastic sample bags for delivery to the certified ALS Global laboratory in Mendoza, Argentina, part of the ALS Laboratory Group. The core samples are crushed, dried and samples are split. Nominally, 1000gr of each sample is ground to minus 200 mesh, split and the assay portion shipped by bonded courier to the ALS laboratory in Lima Peru. 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 and diamond projects in Paraguay. The Company is currently expanding its Independencia Mine gold processing plant to encompass vat-leach gold recovery from mineralization extracted in open pit bulk mining activities at its fully permitted mining concession.
Management has identified exploration targets at Independencia Mine, and six new gold zones on the Company’s adjacent exploration claims, for drill testing. This property package comprises the Company’s 15,020 hectare Paso Yobai gold project.
The scientific and technical information in this news release has been approved by Paul Sarjeant, P.Geo., a Qualified Person under National Instrument 43-101.
For more information, please contact:
Basil Botha, CEO & Chairman
Vancouver: (1-604) 418-3856
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 firstname.lastname@example.org.
Neither the 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 release.
The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address Latin American Minerals’ expectations, should be considered forward-looking statements. Such statements are based on management’s exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words “may”, “will”, “anticipate”, “believe”, “estimate”, “expect”, “intend” and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as contained in Latin American Minerals’ filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation, and do not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events, unless required under applicable securities laws. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.