March 2, 2018 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “Company”) is pleased to announce the commencement of its 2018 regional exploration drill program at its Paso Yobai Gold Project. Drilling has started at the extensive gold-in-soil Tacurú target. In addition to the Tacurú target, the Company will aim to drill 10 additional new targets and systematically test for gold rich feeders and roots to the extensive surface gold mineralization.
The 2018 drill program is designed to explore high priority gold targets and identify the roots of the regional gold system. The targets occur within a large area of approximately 15 kilometres long by 5 kilometres wide, on which the Company has extensive geochemical and geophysical databases. The Tacurú target is located approximately 8km from the company’s Discovery Zone drill hole from the spring of 2017 (see Figure 1), which revealed high grade gold of 37.9 g/t over 7.34 metres (see release dated May 2, 2017).
Limited previous drilling and trenching confirmed the Tacurú Block is an important gold discovery on the Company’s property. At the beginning of 2012, following up trench results of 3.8 gpt gold over 30.55 (see release dated Dec 15, 2011), twelve diamond drill holes totaling 1,712 metres were completed to a maximum depth of 115 m. All of the 12 drill holes intersected gold mineralization on 1500m x 2000m Tacurú Zone, including 94.6 gpt gold over 2.6m at 34 m depth; 107.7 gpt gold over 3.3m at 80m, open at depth and laterally (see release dated April 24, 2012).
“We are very excited to return to Tacurú and to kick off our regional drill program” states, Jeremy Niemi, Director of Exploration. “The Paso Yobai Gold Project is very unique in having so many untested gold targets in an area of extensive high-grade gold mineralization at surface. We look forward to drilling and to unlocking the potential of the property.”
Figure 1: Gold in soil geochemistry at Paso Yobai Gold Project
Mathew Wilson, President and CEO states: “Over the last nine months the company has undergone many changes to get to where it is today. The company has worked to generate several high priority targets based on the incredible breadth of data gathered over the last ten years. With this new drill program now beginning we can finally turn the page and move forward with what I think will be a very bright future.”
Sampling and Analytical Protocols
The sampling and analytical protocols were established, implemented and supervised by or under the direction of Jeremy Niemi, 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 and logged by professional geologists. The nominal sample interval was approximately 1m, though locally the interval might be increased to 2 m or decreased to 0.5 m, 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 sampled interval 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, pulverized, dried and samples are split. Nominally, 1000g 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.
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 scatter in the analytical results making it difficult to assess the true gold concentration. To improve the analytical reproducibility of samples identified with visible gold, screen fire assays were employed. 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.
About the Company
Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold 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 reviewed and approved by Jeremy Niemi, P.Geo., a Qualified Person under National Instrument 43-101. Mr. Niemi is Director, Exploration of the Company.
For more information, please contact:
Mathew Wilson, Mfin, CFA
President and CEO
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
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This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.