VANCOUVER, British Columbia, June 13, 2023 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) a leading mineral exploration company in South America, announces that it has received positive results from rock sampling completed at the 100%-owned Tillo Copper Project (“Tillo” or the “Project”) in Peru. The project is prospective for copper porphyry deposits, as demonstrated by previous soil and talus sampling which delineated an anomalous area of 2,500m x 1,000m (previous news release, January 30, 2023). Positive results from 140 rock samples add a great deal of confidence in this priority area.
Tillo Project Highlights
- Priority Geochemical Target: Soil and talus sampling completed earlier this year defined an area of 2.5km by 1.0km area of consistent geochemical anomalism.
- Rock Sampling Support: Results of rock sampling within the anomalous area provide good support for the target (Figure 1). Of 140 samples collected, 24 samples (17%) grade more than 0.2% copper, with a maximum grade of 5.9% copper and 421 ppm molybdenum.
- The Right Rocks: Mapping has delineated a quartz monzonite porphyry rock unit with potassic alteration and multiple generations of veining (Figure 2).
- Planned Exploration: Detailed mapping will continue within the anomalous area to outline vein density and vector towards potential centers of mineralization. A hyperspectral study will be carried out and used to help prioritize targets within the extensive geochemical anomaly.
“Latin Metals’ strategy to acquire grassroots properties by staking continues to pay off as we continue to delineate areas of significant copper mineralization at surface. Since first staking projects in Peru, the Company has successfully delineated copper mineralization at Lacsha, which is now fully drill permitted and ready for drill testing. At the Auquis project, porphyry-style and skarn mineralization has been delineated with exploration and drill permitting ongoing. With these two successes in hand, it is great that we now have a third copper project on which to focus,” stated Keith Henderson, Latin Metals’ CEO. “At Tillo we are encouraged by the extent of geochemical anomalies, by copper mineralization in rocks, by the identification of intrusive rocks with multiple generations of veining, and by the potential to generate quality drill targets; all of which features should be attractive to potential future exploration partners."
Figure 1: Results of previous soil / talus sampling (left) and rock chip sampling results(right) at the Tillo project, Peru.
Figure 2: Quartz monzonite porphyry with potassic alteration and multiple quartz veinlets (B veins) cutting earlier epidote veinlets, and all cross cut by later specularite-quartz veinlet.
About Latin Metals
Latin Metals is a mineral exploration company focused on acquiring a diversified portfolio of assets in South America. Operating under a Prospect Generator model, the Company aims to acquire exploration properties at a minimal cost, conduct cost-effective exploration to establish drill targets, and secure joint venture partners for funding advanced exploration. Shareholders benefit from exposure to the upside potential of significant discoveries without the dilution associated with funding high-risk drill-based exploration.
QA/QC
The work program at Tillo was designed and supervised by Eduardo Leon, the Company's Exploration Manager, who is responsible for all aspects of the work, including the quality control/quality assurance program. Rock chip samples were collected in a radius of 1m average, sample location was recorded, and the sample was security sealed and shipped to the Bureau Veritas laboratory in Lima. Samples used for the results described herein are prepared and analyzed by multi-element analysis using an inductively coupled mass spectrometer in compliance with industry standards.
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 890 - 999 West Hastings Street,
Vancouver, BC, V6C 2W2
Phone: 604-638-3456
E-mail: info@latin-metals.com
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 and base 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"), 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, 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35f802d1-af6b-4093-87bf-f0b5013032d7
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/afe47f5d-6931-463e-b11a-b986b22cfe2b
