Latin American Minerals Announces High Grade Gold Intercepts And Provides Corporate Update
Latin American Minerals Announces High Grade Gold Intercepts And
Provides Corporate Update
August 18, 2017 – Toronto, Ontario – Latin American Minerals Inc. (TSXV: LAT) (the “Company”) is
pleased to provide the results from the next four holes of the Q1 drilling program and an update on
corporate activities.
Discovery Zone Drill Results
At the end of the first quarter the company drilled seven shallow holes into the northwest end o f the
Discovery Trend, the Temi Zone (see Figure 1 below for project map). The effort was undertaken to
define the extent of the mineralization near surface as well as to provide further insights into the
orientation of larger potential feeder structures at depth. The drilling was conducted approximately
1.8km northwest along trend from DDH-LAT-79 which returned 7.34m of 37.94g/t gold (please see press
release dated May 02, 2017). The company is pleased to announce that gold mineralization was present
in all holes assayed to date. Visible gold was noted in several drill holes. Results for the final three holes
are still in progress.
Results from first quarter 2017 diamond drilling* at the Temi Zone
Drill hole From (m) To (m) Interval (m) Au (gpt) Observations
DDH-LAT-80.1 48.00 48.60 0.60 24.40 Visible gold noted in interval
50.35 51.34 0.99 0.64
DDH-LAT-80.2** 46.53 47.60 1.07 0.64
DDH-LAT-81 55.1 55.66 0.56 0.36
DDH-LAT-82 44.61 46.12 1.51 0.97
including: 44.61 45.05 0.44 2.73 Visible gold noted in interval
* 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.
** Drill holes LAT 80.1 and LAT 80.2 were drilled from the same setup. LAT 80.1 was terminated early
due to drilling issues.
Paul Sarjeant, P.Geo., Vice President of Exploration of the company stated “It is very exciting that we see
the same nature of mineralization nearly 2km away from previous high grade drilling results. In each drill
hole reported to date, the targeted altered and mineralized dyke was intersected where anticipated. In
each hole multiple zones of the typical manganese oxide, carbonate and clay alteration with quartz and
carbonate veinlets that hosts the gold mineralization were drilled. The highly variable assay results
indicate that we are likely not in the core of the system but we are very excited by the bonanza grades
we continue to encounter.”
Deep Drilling Program and the X-Mile Trend
The company is pleased to announce that it has begun the first ever deep drilling program at its Paso
Yobai Gold Project. The company is currently testing large geophysical anomalies underneath the
Discovery Zone. After testing these targets the company is planning to move its fully owned drill rig to
the Cresta and Ycua Pora targets on the X-Mile trend. The X-Mile trend is 14.8km long containing several
large gold in soil geochemical anomalies and coinciding geophysical anomalies. The Cresta and Ycua Pora
targets contain gold in soils across an area of approximately 2.5km x 1km.
Paul Sarjeant, P.Geo., stated “The high grades we have encountered to date make us very excited to be
the first to explore the significant potential of this project at depth. After completing a re-evaluation of
all aspects of the geophysical database a number of high quality targets have been developed and await
drill testing. Though previously believed to exist, recent work has given more credibility to the concept
of a large intrusive complex at depth, roughly corresponding to the extent of the X-Mile trend. In
addition, numerous district sized structural breaks with coincident gold in soil geochemical anomalies
appear to be strengthen this most recent interpretation as a potential source of mineralizing fluids for
the Paso Yobai gold system.”
Independencia Mine Reconfiguration
The company is pleased to announce that it has completed the circuits for both gravity and VAT leach
gold recovery at its Independencia Mine reconfiguration. The company currently has two VAT leach pads
full with approximately 5000 combined dry tonnes of tails feed. The company has begun the process of
leaching material in the first VAT and hopes to soon begin the recovery process in the second VAT.
Cameron Tymstra, P. Eng., Chief Operating Officer of the company stated “it has been a more difficult
road than anticipated. The fine nature of the material has proven to be a significant challenge to the
gravity portion of the recovery circuit. We have now adjusted to give the VAT leach portion of the
recovery circuit an even greater role in the overall recovery process. Our team has done a great job in
overcoming each obstacle and we are all excited to now be able to move forward into the next phase of
company development”.
Figure 1: Gold in soil geochemistry at Paso Yobai Gold Project
Sampling and Analytical Protocols
The sampling and analytical protocols were established, implemented and supervised by or under the
direction of Paul Sarjeant, 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 be increased to 2 m or decreased to 0.5 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 certified ALS Global laboratory in Mendoza, Argentina, part of the
ALS Laboratory Group. The core samples are crushed, pulverized, dried and samples are split. Nominally,
1000g of each sample is ground to minus 200 mesh, split and the assay portion shipped by bonded
courier to the ALS laboratory in Lima, Peru. In the general case, gold was analyzed by fire assay with
atomic absorption finish using a 50 gram sample. Accuracy of results is tested through the systematic
inclusion of blanks, duplicates and certified reference standards.
Assays of Coarse Visible Gold: Coarse gold samples often exhibit a pronounced nugget effect due to the
presence of discrete particulate gold. This may generate a scatter in the analytical results making it
difficult to assess the true gold concentration. To improve the analytical reproducibility of samples
identified with visible gold, screen fire assays were employed. Approximately 1000 gr of prepared pulp
is sieved and the plus 75 micron (200 mesh) portion of the sample is screened out and assayed in its
entirety. The minus 75 micron portion of the sample is homogenized and a 30 gram fusion is used to
determine its grade.
About the Company
Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold
projects in Paraguay. The Company is currently expanding its Independencia Mine gold processing plant
to encompass vat-leach gold recovery from mineralization extracted in open pit bulk mining activities at
its fully permitted mining concession.
Management has identified exploration targets at Independencia Mine, and six new gold zones on the
Company’s adjacent exploration claims, for drill testing. 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 Paul
Sarjeant, P.Geo., a Qualified Person under National Instrument 43-101. Mr. Sarjeant is Vice President of
Exploration and a director of the Company.
For more information, please contact:
Mathew Wilson, Mfin, CFA
President and CEO
Tel: (1-604) 418-3856
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
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this
release.
This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward
looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or
conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions
and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ materially from those projected in the forward -looking
information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should
refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-
looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader
is cautioned not to place undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction
may constitute a violation of U.S. Securities laws.