Latin Metals Receives Positive Results from Mapping and Sampling at the Lacsha Copper Project, Peru
Latin Metals Receives Positive Results
from Mapping and Sampling
at the Lacsha Copper Project, Peru
NR21-01 January 13, 2021
Vancouver, B.C. – Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS)
(OTCQB: LMSQF) announces receipt of positive exploration results from its 100% owned Lacsha
copper property (“Lacsha” or the “Project”) located in the Peruvian Coastal Copper Belt. Rock
sampling results confirm the existence of copper mineralization at Lacsha, related to the Coastal
Batholith.
Lacsha Sampling Details
A total of s eventeen rock samples were collected with c opper values ranging from 110 ppm to
6,410 ppm and molybdenum values ranging between 1.5 ppm and 86.8 ppm (Figure 1, Plate 1).
The 4,000- hectare property was acquired based on historical stream sediment, soil and rock
sampling results, defining an area of anomalous copper over approximately 5.0 km by 2.5km
(news release August 4, 2020). Verification of altered and mineralized outcrop at surface
confirms the Company’s exploration model.
Property geology is dominated by granodiorite pluton intruded by various granites bodies up to
1 km length cut by monzonitic and diorite dy kes with dominant north to northeast orientation.
The area is largely covered by recent quaternary material of approximately 1 m in thickness
obscuring much of the outcrop. There is significant potential for additional altered and
mineralized rock to be discovered beneath this thin cover. Alteration mapped at surface is
dominated by epidote as veinlets cutting the intrusive rocks and c hlorite-magnetite replacing
mafic minerals. Mineralization is related to oxidation of disseminated sulfides and quartz-copper
oxide zones up to 2 m thick.
Next Steps
Follow-up work will include stream sediment sampling to cover the entire property and establish
the most anomalous areas. Rock sampling and mapping will accompany this work, which will be
undertaken in Q1.
The Company has met with the local community and has had very positive discussions about the
planned work and schedule. A s exploration proceeds, the Company will be aim to secure drill
permits to test priority targets when they are fully defined.
NR21-01 Continued 2 January 13, 2020
Figure 1: Geological map of the Lacsha Property with Historical
and Current Rock Sampling Results.
NR21-01 Continued 3 January 13, 2020
Plate 1: Mineralized Rock Samples
Incentive Stock Options
The Company also announced that it has granted 150,000 common share stock options (each an
“Option”) to various employees and consultants of the Company and its affiliates. The Options
entitle the holder to purchase shares at a price of $0.16 per share for a period of 36 months from
the issue date.
QA/QC
The work program at Lacsha was designed and is 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 ALS laboratory in Lima. Samples used for the results described herein are
NR21-01 Continued 4 January 13, 2020
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 Peru
Mining and extractive industries in the country account for approximately 15% of GDP and Peru
is a significant producer of base metals and precious metals. In world production, Peru is ranked
#2 in copper production and #7 in gold production. Politics in Peru is currently dominated by
democratic center-right policy and the government understands the importance of mining to the
national economy. Mining law and regulatory framework in Peru is well -established and the
country is competitive with respect to labour and power costs. Fraser Institute Annual Survey of
Mining Companies 2019 results show Peru is the second most attractive jurisdiction in Latin
America and the Caribbean.
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]
NR21-01 Continued 5 January 13, 2020
Neither 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 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", "anticipates",
"believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to 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.
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