(TheNewswire)
Toronto, Ontario / TheNewswire / May 2, 2017 - Latin American Minerals Inc. (TSXV: LAT) (the "Company") announces significant results from continued drilling on the Discovery Zone at its Paso Yobai gold project in Paraguay.
In the first quarter of 2017, the Company focused drilling on the southern end of the Discovery Zone, in a stretch not previously drilled. Gold mineralization was returned in all reported holes, which were distributed over a 56 metre distance along the trend. Broad high-grade intersections were recorded in adjacent holes DDH-LAT-78 and DDH-LAT-79. The mineral intersections are tabulated below.
Basil Botha, President and CEO of the Company stated "DDH-LAT-79 has returned the best intersection yet on the Discovery Zone. These bonanza gold values recall the same style of alkaline gold mineralization reported at the Company's Tacur?? showing more than 7 km to the north (LAT Press Release July 24, 2012 reported DDH-BT-08 intersections of 94.6 gpt over 2.6m and 107.7 gpt over 2.7m.) Given the similarity in mineralization style and grade encountered throughout the project area, Paso Yobai has strong potential to host a significant alkali gold system."
Results from first quarter 2017 diamond drilling* at the Discovery Zone:
-------------------------------------------------------------------------------------------------------- |Drill hole|From|To (m) |Interval (m)|Au |Observations | | |(m) | ||(gpt) | | |------------------------------------------------------------------------------------------------------| |DDH-LAT-72-2 |109.60 |118.60|9.0 |1.38|Interval of targeted veining and alteration| |------------------------------------------------------------------------------------------------------| |including interval:|109.60 |110.15|0.55|16.46 | | |------------------------------------------------------------------------------------------------------| ||| || | | |------------------------------------------------------------------------------------------------------| |DDH-LAT-76|Laboratory assays are pending| | | |------------------------------------------------------------------------------------------------------| ||| || | | |------------------------------------------------------------------------------------------------------| |DDH-LAT-77|105.16 |105.75|0.59|1.19|Visible gold noted in interval | |------------------------------------------------------------------------------------------------------| ||| || | | |------------------------------------------------------------------------------------------------------| |DDH-LAT-78|85.91|90.32 |4.41|2.82|Visible gold noted in 3 assay intervals | |------------------------------------------------------------------------------------------------------| ||| || | | |------------------------------------------------------------------------------------------------------| |DDH-LAT-79|92.40|99.74 |7.34|37.94 |Significant visible gold noted | |------------------------------------------------------------------------------------------------------| |including |96.0|96.67 |0.67|34.9 |LeachWellTMassays of| |intervals:| || || | |------------------------------------------------------------------------------------------------------| | |98.34|98.84 |0.50 |174.25|screened fines produced| |------------------------------------------------------------------------------------------------------| | |99.24|99.75 |0.50|318.5 |assays of>125 gpt for | | | || ||all 3 included| | | || ||intervals | |------------------------------------------------------------------------------------------------------| ||| || | | --------------------------------------------------------------------------------------------------------* 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 mineralised zones as close to perpendicular as possible.
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 2m or decreased to 0.5m, 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. As an additional control, an accelerated cyanide leach assay was performed by ALS utilizing LeachWELLTM tabs. The minus 75 micron fraction from the screen assay was split, prior to a 4 hour accelerated leach and atomic absorption assay. The final reported assay value is the weighted average of the final fractions, coarse fraction screen fire assay and fine fraction accelerated leach assay.
About the Company
Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold project 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.
The scientific and technical information in this news release has been approved by Paul Sarjeant, P. Geo., a Qualified Person under National Instrument 43-101.
For more information, please contact:
Basil Botha, CEO & Chairman
Vancouver: (1-604) 418-3856
E-mail: information@latinamericanminerals.com
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 information@latinamericanminerals.com.
Neither the 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 release.
The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address Latin American Minerals' expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as contained in Latin American Minerals' filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation, and do not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events, unless required under applicable securities laws. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.
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