Latin Metals Discovers New Copper Porphyry and Skarn Mineralization at Auquis, Peru
Latin Metals Discovers New Copper Porphyry and
Skarn Mineralization at Auquis, Peru
NR23-08 April 4, 2023
Vancouver, B.C. – Latin Metals Inc. (“Latin Metals” or the “Company”) – (TSXV: LMS)
OTCQB: LMSQF) announces that ongoing mapping and prospecting has identified two additional
mineralized zones with high-grade copper and base metal mineralization at the Company’s
Auquis Project (“Auquis” or the “Project”). Several styles of mineralization have been identified
including newly discovered porphyry-style copper mineralization, and skarn mineralization. The
property now hosts three distinct mineralized zones (Figure 1).
Keith Henderson, the Company’s President & CEO stated, “Our work at Auquis continues to
deliver excellent results, with the recognition of two mineralized porphyry centers and a separate
zone of skarn mineralization so far, giving all the indications of a large and robust hydrothermal
system with potential to define both porphyry and skarn deposits. We eagerly await the results
of a ground magnetic survey recently completed over the property which will aid our
interpretation and continued exploration over the property.”
Tinto and Blanco Zone Details
Newly discovered mineralized areas are in the western portion of the property (Figure 1). Grab
samples of outcropping mineralization are photographed (Figure 2). Highlights from 23 rock grab
samples are discussed below.
At the Tinto Zone porphyry target, strongly developed sulfide stockworks (pyrite-chalcopyrite)
are associated with intense sericite alteration and partial oxidation to hematite and goethite.
Grab sampling of outcropping mineralization returned grades of 1.8% copper and 54 g/t silver
with trace molybdenum (Sample A) and confirms the Tinto Zone as a priority target for porphyry
style mineralization.
At the Blanco Zone, prograde garnet-dominated skarn alteration has been identified as well as
retrograde epidote and magnetite alteration (Samples C & D). The Blanco Zone is proximal to a
dark fine-grained limestone, where marble has been recognized but not yet fully mapped. Veins
and structures with base metal mineralization and jasperoid have been identified cutting the
limestone package, with one grab sample returning 1.4% lead, 0.7% zinc, 0.08% copper, and 17
ppb gold (Sample B).
Sampling at the Blanco Zone returned values of up to 9.3% zinc, 6.1% lead, 2.8% copper, 176 g/t
silver and 82 ppb gold. The skarn alteration does not appear to be related to either the Tinto
Zone to the west, or the previously identified porphyry mineralization at the Rose Zone to the
east, where sampling outlined a large area of copper and molybdenum mineralization measuring
1.5 km x 1.5 km (see news release November 3, 2022). The skarn mineralization at the Blanco
Zone is tentatively interpreted as being related to an intrusive at depth.
NR23-08 Continued 2 April 4, 2023
Grab samples (23 samples) are taken across an area of approximately 8 km by 1 km and results
are variable ranging from 1.5 ppm to 28,000 ppm (2.8%) copper, 8 ppm to 93,000 ppm (9.3%)
zinc, 4.5 ppm to 60,400 ppm (6.0%) lead, 1 ppm to 19.4 ppm molybdenum, 0.01 ppm to 176 ppm
(176 g/t) silver and below detection to 82 ppb gold.
Figure 1. Location of mineralized zones at Auquis, including newly discovered zones at Tinto and Blanco. Photos
of outcrops taken at sample locations A to E are shown in Figure 2.
Figure 2. Samples showing porphyry and skarn type mineralization in the new Tinto and Blanco Zones
NR23-08 Continued 3 April 4, 2023
Next Steps
Once processing of the recently collected magnetic data is complete, the data will be interpreted
and used to refine the exploration model before additional follow- up sampling is undertaken at
the new zones of mineralization and throughout the remainder of the property.
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 has a total of six 100%-owned copper
exploration properties in the Coastal Belt. The Company’s Lacsha copper-molybdenum project
is drill ready and fully permitted for drilling. The Auquis copper-molybdenum-gold project is
advanced and expected to be drill ready in 2023 and Tillo and Para properties are in the starting
process of exploration.
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 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 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.
NR23-08 Continued 4 April 4, 2023
For further information, please contact:
Keith Henderson
Suite 890
999 West Hastings Street
Vancouver, BC, V6C 2W2
Phone: 604-638-3456
E-mail: [email protected]
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Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including,
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anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter
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