Latin Metals Reports Completion of Airborne Magnetic and Radiometric Survey, Organullo Project, Argentina.
Latin Metals Reports Completion of
Airborne Magnetic and Radiometric Survey,
Organullo Project, Argentina.
NR23-19 November 22,2023
Vancouver, B.C. – Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS)
(OTCQB: LMSQF) announces significant progress at its Organullo Project (“ Organullo” or the
“Project”) where an existing option agreement with AngloGold Argentina Exploraciones S.A.
(“AngloGold”), a wholly owned subsidiary of AngloGold Ashanti plc. (NYSE: AU, JSE: ANG)
provides AngloGold with an option to earn up to an 80% interest in the Project. AngloGold has
completed an airborne geophysical survey collecting magnetic and radiometric data over most
of the Project area (Figure 1).
“This extensive geophysical survey is a significant step for the Organullo project. With the survey
complete, processing is in progress, and we look forward to seeing the results of the survey in
due course.” stated Keith Henderson, Latin Metals’ CEO. “The data and interpretation will be
integrated with existing data collected by AngloGold to help finalize drill targets . AngloGold
Ashanti has submitted a drill permit for 11,900m and plans to commence drilling once this permit
and other licenses are received.
Figure 1: Map showing the Organullo property claims under option to AngloGold
and the area where airborne geophysical survey has been completed.
NR23-19 Continued 2 November 22, 2023
Airborne Survey Details
Airborne geophysical surveys allow the collection of subsurface data using sensors and
instruments mounted on an aircraft. The primary goal is to obtain a better understanding of the
distribution of subsurface rock types and mineralization prior to drill testing. The method can be
expensive due to the use of aircraft to collect the data, but it is efficient compared to ground -
based methods and almost completely non -invasive, minimizing the impact on flora, fauna and
local communities.
The survey completed by AngloGold collected magnetic and radiometric data along 3,500 line -
km, covering most of the Property in eleven days. Survey lines were flown on a 100m spacing
north-south and a 1,000m spacing east-west, at an average flight height of 60m above ground.
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.
Qualified Person
Keith J. Henderson, P.Geo., is the Company's qualified person as defined by NI 43-101 and has
reviewed the scientific and technical information that forms the basis for portions of this news
release. He has approved the disclosure herein. Mr. Henderson is not independent of the
Company, as he is an employee of the Company and holds securities of the Company.
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
NR23-19 Continued 3 November 22, 2023
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
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"), the fact that
the Company’s anticipated interests in the Properties will only be an option and there is no guarantee that such interest, if earned,
will be certain, 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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