Latin Metals Outlines Drill Targets at Aylen Project, Argentina
Latin Metals Outlines Drill Targets
at Aylen Project, Argentina
NR21-06 June 7, 2021
Vancouver, B.C. – Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS)
(OTCQB: LMSQF) provides an update on exploration at the Company’s optioned Aylen property
(“Aylen” or the “Project”) located in Deseado Massif. A ground magnetic survey has been
completed over more than 66 line-kilometers covering the northern portion of the Aylen
Project and in particular the area along strike from the past-producing Martha Mine.
Drill Targets Defined
The geophysical surveying has defined 3 target areas ( Figure 1), each being 1 to 2 km in length
and displa ying a s imilar geophysical signature and structural trends to the epithermal silver -
gold mineralization hosted at the Martha Mine. Structural trends highlighted by the magnetic
data are dominantly east -west and northwest- southeast, similar to the Martha Mine vein
system to the east and the Barril vein system to the west.
Previous rock sampling by Latin Metals and previous operators has identified high- grade silver
mineralization at the outcropping Estero Vein, which confirms that the epithermal system and
associated precious metals continue onto the Aylen Project. However, the new geophysical
data suggests that the main target area at Estero (Target C) is blind and located approximately
200m south. Targets A and B look similarly compelling and none of the three targets have been
tested by drilling.
Figure 1: Drill targets defined by ground magnetic surveying and previous rock sampling
results at the Aylen Project, Santa Cruz Projects.
NR21-06 Continued 2 June 7, 2021
Latin Metals ’ previously completed rock sampling at the Estero vein is located approximately
500m west from the Martha mine and approximately 200m north of Target C . A total of 8 rock
samples were taken at Estero and returned consistently anomalous gold values between
0.11g/t gold and 0.57 g/t gold as well as silver mineralization peaking at 470 g/t. Three samples
returned high-grade silver values from 118 g/t silver to 470 g/t silver, with another four samples
returning highly anomalous grades from 20 g/t silver to 43 g/t silver.
Next Steps
Ground magnetic data, together with previous mapping and rock sampling, has been successful
in outlining three areas requiring drill testing. Next steps for the Project will include an induced
polarization survey to further define and prioritize drill targets , as well as permitting for a
preliminary diamond drill program. Latin Metals is actively seeking an option partner to fund
exploration drilling at Aylen.
Appointment of Corporate Secretary
The Company announces that it has appointed Dani Palahanova as Corporate Secretary. Ms.
Palahanova currently serves as Chief Financial officer of the Company. She has been working
with publicly listed Canadian companies in the minerals exploration sector for over 15 years
and has held positions as CFO, Controller and Corporate Secretary for various junior exploration
and technology companies in Vancouver. Ms. Palahanova holds an Executive MBA degree from
Simon Fraser University and a CPA, CGA designation.
Marla Ritchie has resigned as Corporate Secretary and the Company wishes to thank Ms. Ritchie
for her work over the past three years.
About Martha Mine
During its production life Martha produced from very high- grade veins and vein breccias. The
high silver grades of the historic Mineral Reserves, ranging from over 2,500 g/t in the early
years of the project to over 400 g/t in the later production years, a nd the high silver to gold
ratio of the historic mineralization which averaged over 900:1, set Martha apart from the other
producing mines in the Province of Santa Cruz.
The northern portion of the Aylen concession is contiguous with the former producing Martha
Mine, which was operated between 2000 and 2016 by Coeur Mining Inc. and Yamana Gold Inc.
The property is currently owned by Patagonia Gold who reportedly aim to double the
processing capacity of the plant at Martha Mine to 480tpd.
Deseado Massif
The Deseado Massif in southernmost Argentina is an exposed block of Mesozoic volcanic rocks
that host low- to intermediate-sulfidation style gold-silver epithermal systems (Schalamuk et al.
1997). Mining is in several districts such as Cerro Vanguardia, Manantial Espejo, Martha, Cerro
Negro, San José, Don Nicolas, Cerro Moro, and Cose. Other systems are at different stages of
exploration. Mineralization is of late Jurassic age what makes the Deseado Massif one of the
older epithermal metallogenic provinces on earth. Aylen is located next to Martha mine.
NR21-06 Continued 3 June 7, 2021
QA/QC
The work program at Aylen was designed by Eduardo Leon, the Company's Exploration
Manager, who is responsible for the work.
Geophysical data was collected by QUANTEC Geoscience Argentina SA. Information was
corrected for diurnal drift, spikes and magnetic dropouts were removed, repeatability and
instruments accuracy of the magnetometer was verified by taking reference station repeat
measurements at the beginning and end of each survey day, and care was taken to ensure
proper magnetic sensor orientation at all times. A GEM GSM - 19 Magnetometer was used at
the survey with a resolution of 0.01 nT and a relative sensibility of 0.02 nT.
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.
For further information, please contact:
Keith Henderson
Suite 2300
1177 West Hastings Street
Vancouver, BC, V6E 2K3
Phone: 604-638-3456
E-mail: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
NR21-06 Continued 4 June 7, 2021
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",
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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.