VANCOUVER, British Columbia, Nov. 03, 2022 (GLOBE NEWSWIRE) — Latin Metals Inc. (“Latin Metals” or the “Company”) – (TSXV: LMS and OTCQB: LMSQF) announces the results of its surface rock sampling program at the 100% owned Auquis Project (the “Project”), located in Peru. A total of 200 additional rock samples were taken, returning anomalous mineralization grading up to 5.8% copper and 236 ppm molybdenum. A total of 434 rock samples have now been taken from the project area, defining a central zone of high-grade mineralization that measures 1.5 km by 1.5 km.
“Ongoing rock sampling results from Auquis continue to expand the footprint of copper mineralization on the project with the central zone expanded by more than 100% as a result of recent exploration,” said Keith Henderson, President and CEO of Latin Metals. “The project has potential scale and quality, which are important ingredients needed to find a future partner.”
Plate 1. Typical B-type porphyry veins in outcrop (left) and
Outcropping copper oxide mineralization (right) from within
the central zone of high-grade mineralization (shown in Figure 1).
Rock Sampling Results
Results from additional rock sampling completed in August 2022 have expanded the central zone of high-grade mineralization to approximately 1.5 km by 1.5 km (red outline, Figure 1). In this core area, the combined results of 265 rock sample results yield grades ranging from 6 ppm to 5.8% copper (average 0.10% copper) and 0.3 ppm to 236 ppm copper. molybdenum (average of 4.9 ppm molybdenum). Pre-Auquis rock sampling results were disclosed in a press release dated July 20, 2022 (234 samples).
In the central zone of copper-molybdenum mineralization, porphyry-type mineralization was recognized and sampled (Plate 1). In the western part of the property, an interpreted contact with carbonaceous rocks has the potential to host skarn mineralization. This contact is overlain by volcanic rock, but hydrothermal alteration has been recognized in the limestone units to the west.
Figure 1. Map showing all rock sample locations on the project and highlighting rock samples not
disclosed with a larger symbol. All copper grades above 0.2% copper are labeled.
The area defined by a red square shows consistent copper mineralization over an extent of 1.5 km x 1.5 km.
Latin Metals plans to conduct a ground magnetic survey covering the central copper-molybdenum anomalies over a total of approximately 60 line km. The magnetic survey is designed to determine the size of the surface-mapped porphyry target and potential skarn mineralization to the west.
The Coastal Copper Belt in Peru is a Cretaceous belt hosting a variety of deposit types including porphyry, epithermal, VMS, and IOCG. The Auquis, Lacsha, Yanba, Tillo, Para and Loli projects, 100% owned by Latin Metals, are all located in the northern Lima-Ica part of the coastal belt.
The work program at Auquis was designed and overseen by Eduardo Leon, the company’s exploration manager, who is responsible for all aspects of the work, including the quality control and assurance program. The project’s on-site personnel collect and rigorously track the samples, which are then securely sealed and shipped to the ALS laboratory in Lima. Samples used for the results described here are prepared and analyzed by multi-element analysis using an inductively coupled mass spectrometer according to industry standards.
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 CEO of the company. 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 mining exploration company acquiring a diversified portfolio of assets in South America. The Company operates with a prospect generator model focused on acquiring potential exploration properties at minimal cost, achieving initial valuation through profitable exploration to establish drill targets and ultimately , securing joint venture partners to fund drilling and advanced exploration. Shareholders benefit from the upside exposure of a significant discovery without the dilution associated with financing the riskiest drill-based exploration.
On behalf of the Board of Directors of
LATIN METALS INC.
President and CEO
For more details about the company, readers are referred to the company’s website (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
For more information, please contact:
999 Hastings Street West
Vancouver, BC, V6C 2W2
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Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995. All statements , other than statements of historical facts, included herein, including, without limitation, statements regarding the negotiation of option agreements and the exercise of option for properties, content, commencement , the anticipated timing and cost of exploration programs with respect to the Properties and otherwise the 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 pla n planned business and timing of future activities of the Company, are anticipated d-looking statements. Although the Company believes these statements to be reasonable, it cannot guarantee that these 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”, “expected”, ” estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of these words, including negative variations of them, and phrases that refer to certain actions, events or results that may, might, might or will occur or be taken or achieved. In making the forward-looking statements contained in this press release, the Company has applied several important assumptions, including, without limitation, market fundamentals will result in sustained demand and prices for precious metals, the achievement of all necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Argentinian projects in a timely manner, the availability of financing on appropriate terms for the development, construction and continued operation of the Company’s projects, and the the Company’s ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that 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 information. prospective. These risks and other factors include, among others, operational and technical difficulties related to mineral exploration and development and mine development activities on the properties, including the geological mapping, prospecting and sampling programs proposed for the properties (the “programs”), the actual results of exploration activities, including programs, the estimate or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs production, capital expenditures, costs and timing of development of new deposits, availability of sufficient supplies of water and other materials, additional capital requirements, future prices of precious metals and copper, changes in general economic conditions, changes in financial markets and in demand and price x of the market for raw materials, possible variations in grade or ore recovery rates, possible failure of plants, equipment or processes to operate as intended, accidents, labor disputes and other risks of the mining industry, delays or inability of the Company to obtain necessary permits, consents or authorizations, including acceptance of the TSX-V for the filing of option agreements, any current or future property acquisitions, financing or d other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or limitations of claims on insurance coverage and the timing and outcome possible pending litigation, environmental issues and liabilities, risks related to joint venture activities and risks related to international ration of acquisitions, as well as the factors discussed under the heading “Risk Factors” in the Company’s latest MD&A and other documents filed by the Company with the Canadian Securities Administrators, copies of which may be found at 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 forward-looking information contained in this press release or incorporated by reference herein.
Photos accompanying this announcement are available at: