Latin American Minerals Announces Drill Results
Latin American Minerals Announces Drill Results
July 3, 2018 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “Company”)
is pleased to announce assay results from the 2018 exploration drill program at its Paso Yobai
gold project in Paraguay. The program comprised of 24 holes totaling 5,400m at the Tacuru,
Tacuru North and Moroti exploration targets.
The Tacuru exploration target was first drilled in 2012 and the Company intersected 107.7 g/t gold
over 3 metres at 80m depth in hole LAT-BT-008. The high-grade gold interval was hosted within
a silicified zone in the sediments which displayed a texture of bladed quartz -carbonate. The
primary goal of the 2018 drilling was to locate and determine an orientation to the silicified zone,
which may be the feeder to the gold identified in drilling and in soil samples at the site.
The silicified zone was intersected in hole LAT -18-019 at a depth of approximately 170 metres
and subsequently intersected in follow up holes LAT -18-020 through LAT-18-024. Initial assays
demonstrate that the zone is mineralized with anomalous gold and appears to be relatively steeply
dipping. Textures of the quartz mineralization, such as banded coliform and bladed, along with a
non-existent sulphide content suggest the makings of a low sulphidation epithermal system. The
Company has interpreted results to date as intersecting the upper portion of the system and the
more prospective high-grade gold part of the system may be below.
Holes along the wes tern and northern periphery of the Tacuru target, LAT -18-012/14/16
intersected a gold zone at surface of up to 16 metres thick and grading 0.95 g/t gold (see Table
1 below for all results). Multiple narrow gold horizons were intersected in all holes and th ese
horizons are interpreted to be flat to shallow dipping veins which splay off of the main feeder
system.
The Tacuru North target drilling intersected a gold zone at surface in holes LAT -18-
007/010/011/017/018 of up to 8.5 metres grading 0.52 g/t gold. The mineralization is interpreted
to be part of the same near surface gold at the Tacuru target approximately 200 metres to the
south-east. All holes intersected multiple horizons of intrusive mafic volcanics in sills within
sandstone. The mafic intrusives are significant hosts to gold mineralization elsewhere on the Paso
Yobai property.
At the Moroti Target, approximately 4 kilometres north -west of and along the main geological
trend of the Tacuru Target, two holes (LAT-18-008 and LAT-18-009) were drilled. The holes were
spaced approximately 1 kilometre apart and along the interpreted eastern margin of the intrusive
complex covering the entire Paso Yobai project area. The target was a geophysical conductor
with a coincident soil anomaly of copper, zinc and lead. The source of the copper, zinc and lead
soil anomaly was identified as a mafic sill with anomalous base metals. The conductor has not
yet been identified in the drilling.
Jeremy Niemi, Director of Exploration states: “This is the first time this p roject has seen a deep
drilling program aimed at identifying the source of this large surface anomaly and following up on
the high-grade results from 2012. Our drill campaign has proven a strike length of 300m and while
the results to date do not hold the grades we would have hoped for, the nature of these types of
systems suggest we are very much on the right track”.
Mathew Wilson, President and CEO states: “We have made great technical strides while also
working hard with both the people of Paso Yobai and the government to make this a mining
friendly jurisdiction. These types of systems are incredibly difficult to drill will need a lot of
systematic drilling to advance. The company is currently waiting on 3 batches of assays and is in
the process of evaluating options to advance this project and the company in the best interest of
shareholders.”
Table 1. Drill hole assay intersections.
Hole From
(m) To (m) Length Au g/t
LAT-18-007 0 6.5 6.5 0.5
LAT-18-008 No significant results
LAT-18-009 No significant results
LAT-18-010 No significant results
LAT-18-011 No significant results
LAT-18-012 0 13 13 0.66
and
LAT-18-012 186.5 188 1.5 0.33
And
LAT-18-012 264.45 265 0.55 0.25
And
LAT-18-012 317 317.55 0.55 0.2
LAT-18-013 No significant results
LAT-18-014 0 16 16 0.95
LAT-18-014 121 122.35 1.35 2.4
And
LAT-18-014 197.1 197.57 0.47 0.52
And
LAT-18-014 246.2 247 0.8 0.51
LAT-18-015 No significant results
LAT-18-016 0 13.5 13.5 0.82
And
LAT-18-016 314 315 1 0.65
And
LAT-18-016 367.9 369 1.1 0.23
LAT-18-017 0 7.5 7.5 0.58
LAT-18-018 0 8.5 8.5 0.52
LAT-18-019 176 178 2 0.23
LAT-18-020 Assays pending
Hole From
(m) To (m) Length Au g/t
LAT-18-021 172 173 1 0.8
and
LAT-18-021 179 180 1 0.69
and
LAT-18-021 187.5 188.5 1 0.23
LAT-18-022 Assays pending
LAT-18-023 165 166 1 0.23
and
LAT-18-023 172 173.15 1.15 0.28
LAT-18-024 Assays pending
All intercepts reported represent core lengths; true width will vary depending on the angle of
intersections of the diamond drill and the targeted zone. Holes are planned to intersect
mineralized zones as close to perpendicular as possible.
Holes LAT-18-001 through LAT-18-006 were holes that a local landowner and drill operator drilled
as a test. Company geologists were not present at the drill to oversee the drilling or to plan the
holes. The core has been logged and used in our geological i nterpretation and is now stored at
the Independencia Mine site but was not assayed.
Table 2. Hole locations, direction and depths.
Hole Easting Northing Elevation Total depth (m) Azimuth Dip
LAT-18-001 597,682 7,155,209 241 60.9 0 -90
LAT-18-002 597,694 7,155,151 220 45 0 -90
LAT-18-003 597,697 7,155,149 220 46.9 80 -50
LAT-18-004 597,729 7,155,141 227 33.1 0 -90
LAT-18-005 597,730 7,155,142 227 18.25 240 -60
LAT-18-
006A 597,708 7,155,148 227 300.25 0 -90
LAT-18-007 597,778 7,155,157 235 150.8 0 -90
LAT-18-008 595,337 7,158,270 251 356 225 -55
LAT-18-009 596,188 7,157,269 226 323.5 45 -65
LAT-18-010 597,610 7,155,371 233 91.7 225 -65
LAT-18-011 597,638 7,155,160 226 194.3 0 -90
LAT-18-012 597,833 7,155,003 244 461 100 -50
LAT-18-013 597,726 7,155,191 216 200.7 0 -90
LAT-18-014 597,990 7,155,102 250 410.5 135 -65
LAT-18-015 597,666 7,155,156 233 201 150 -60
LAT-18-016 597,983 7,155,109 227 473 115 -60
LAT-18-017 597,776 7,155,156 227 200 90 -60
LAT-18-018 597,776 7,155,156 227 142.5 45 -75
LAT-18-019 598,208 7,155,081 223 458 225 -65
LAT-18-020 598,203 7,155,076 223 296.5 210 -70
LAT-18-021 598,207 7,155,080 223 218.7 215 -70
LAT-18-022 598,207 7,155,078 223 271.4 215 -80
LAT-18-023 598,202 7,155,078 223 197.4 235 -65
LAT-18-024 598,202 7,155,074 223 248.1 215 -60
Sampling and Analytical Protocols
The sampling and analytical protocols were established, implemented and supervised by or under
the direction of Jeremy Niemi, P. Geo., the Company’s internal Qualified Person as defined by
National Instrument 43-101. At the drill site, the core was placed in core boxes and delivered to a
secure field core processing centre. The core was split by trained technicians using a diamond
saw and logged by professional geologists. The nominal sample interval was approximately 1m,
though locally the interval might b e increased to 2 m or decreased to 0.3 m, the interval being
determined by the logging geologists based on geologic indicators. Half of the core was stored in
the core box as a permanent reference of the sampled interval and half of the designated sample
set was cataloged and sealed in plastic sample bags for delivery to the Company’s sample
preparation facility at the Independencia Mine. The core samples are crushed, pulverized, dried
and samples are split. Nominally, 1000g of each sample is ground to minu s 200 mesh, split and
the assay portion shipped by bonded courier to the Alex Stewart International laboratory in
Mendoza, Argentina. In the general case, gold was analyzed by fire assay with atomic absorption
finish using a 50 gram sample. Accuracy of res ults is tested through the systematic inclusion of
blanks, duplicates and certified reference standards.
About the Company
Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its
core gold projects in Paraguay. Management has identified exploration targets at Independencia
Mine, and six new gold zones on the Company’s adjacent exploration claims, for drill testing. The
current drill program is testing 10 priority targets with a primary focus on the Tacuru zone. This
property package comprises the Company’s 15,020 hectare Paso Yobai gold project.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by
Jeremy Niemi, P.Geo., a Qualified Person under National Instrument 43 -101. Mr. Niemi is
Director, Exploration of the Company.
For more information, please contact:
Mathew Wilson, Mfin, CFA
President and CEO
Tel: 1-416-643-7630
E-mail: [email protected]
Website: www.latinamericanminerals.com
The Company’s public documents may be accessed at www.sedar.com.
For further information, please visit our website at www.latinamericanminerals.com or email us
at
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