Latin Metals Receives Ground Magnetic Survey Results, Lacsha Project, Peru
Latin Metals Receives Ground Magnetic
Survey Results, Lacsha Project, Peru
NR21-16 October 21, 2021
Vancouver, B.C. – Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS)
(OTCQB: LMSQF) announces receipt of results from a recently completed ground magnetic
survey at its 100% owned property Lacsha copper project (“Lacsha”), Peru.
Magnetic anomalies at Lacsha North and Lacsha South (Figure 1a) are coincident with anomalous
surface geochemistry in talus and rock chip samples (Figure 1b) and confirm the potential of
Lacsha to host porphyry copper-style mineralization. The m agnetic anomalies correspond to
areas of surface rock chip sampling, including 30m of 0.20% copper and 72m at 0.20% copper
(NR21-13, September 14, 2021).
In addition to confirming the targets at Lacsha North and Lacsha South, the survey was successful
in the definition of two additional new target areas C and D.
1b. C
ontoured copper in talus samples and rock ship channel sample locations, highlighting copper composites.
NR21-16 Continued 2 August 21, 2021
Magnetic Survey Interpretation
The areas of magnetic low highlighted in Figure 1a are interpreted to be phyllic to argillic
alteration typically seen above or adjacent to magnetics highs, which are interpreted to be the
potassic alteration in a porphyry system. A vertical northeast -southwest section is shown in
Figure 2 with discreet magnetic highs located below surface interpreted to be the core areas of
potassic alteration typified by secondary magnetite and biotite.
Magnetic anomalies at Lacsha North and Lacsha South are coincident with surface geochemistry
in talus and rock samples. The magnetic anomaly defining Target C is at slightly higher elevation
and therefore does not have a surface geochemical signature. Target D has significant talus
anomalies, but no rock sampling has been completed to date. Additional sampling will be carried
out at Targets C and D.
Figure 2 Inversion model NE-SW section showing high magnetic anomalies just below surface,
interpreted to be the potassic core of a porphyry system.
Next Steps
Induced Polarization (“IP”) is planned to follow up on these priority targets and is expected to be
completed in the coming month to finalize drill target locations. Drill permitting is underway and
expected to be completed before year-end.
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’ 100% -owned Lacsha copper -molybdenum
and Auquis copper-gold projects are both located in the northern Lima-Ica portion of the coastal
belt.
Incentive Stock Options
The Company also announces that it has granted 955,000 common share stock options (each, an
"Option") to various employees and consultants of the Company and its affiliates. The Options
NR21-16 Continued 3 August 21, 2021
entitle the holder to purchase Shares at a price of $0.15 per Share for a period of 36 months from
the issue date.
Data Collection and QA/QC
The survey was completed by Zissou SAC and data collection was supervised by Ronal Yupa
Paredes.
A total of 28 east-west survey lines were surveyed for a total of 36 line km, with lines spaced 100-
200m. Data was collected using a Magnetometer GEM system GSM-19, differential GPS data and
magnetic field intensity were recorded every 2 seconds with base station equipment recording
every 3 seconds. The data was processed daily and diurnal corrections were made with GEMLINK
software. Images were created with Oasis Montaj and the gridding was completed with an
algorithm RANGRID from GEOSOFT (cell size between 25m to 50 m, with the generation of images
using a Fourier Transformation). The Inversion model was created using MAG3D software (cell
size used was 138 x 184 x 90, the mesh dimensions were 1760 x 3680 x 1800 and the dimensions
of the small cells were 20 x 20 x 20 at the x,y,z directions).
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 890
999 West Hastings Street
Vancouver, BC, V6C 2W2
NR21-16 Continued 4 August 21, 2021
Phone: 604-638-3456
E-mail: [email protected]
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