| | Published : April 23rd, 2008 | adds a Second Drill on its Tendal VMS Project La Rioja, Argentina. |
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Latin American Minerals adds a Second Drill on its
Tendal VMS Project La Rioja,
Argentina.
Toronto,
Canada, April 22, 2008, Latin American Minerals Inc. (LAT
- TSX-V) announces
that based on encouraging results it has added a second drill to is Tendal
massive sulphide (Zn-Cu-Pb-Ag) project and commences a gravity survey at its La
Rioja, Argentina. The second drill
rig arrived on site today and will accelerate and support the 5,000m Diamond
drill program currently underway on the property.
Mr.
David Wahl, President and CEO reports that ��the decision to add a second drill
at Tendal reflects LAT�s confidence in the project and the need to compress the
drilling to allow for the possible extension of the current 5.000m drill
contract��.
Additionally,
LAT has engaged Quantec Geoscience of Mendoza to carry out a gravity survey
designed to detail and extend the gravity anomaly identified during the
reconnaissance gravity studies completed on the property last year. The 300m
long gravity anomaly is located approximately 250m west and parallel to the
Verdiona massive sulphide trend.
Dr.
Waldo Perez, Senior VP Exploration reports that ��the results of this survey
will provide vectors for drill-hole targeting in the area geologically inferred
to host the displaced and down dip extension of the Verdiona massive
sulphides��.
For
further information reference www.latinamericanminerals.com
and follow the links to Tendal and the block diagrams depicting the conceptual
structural evolution of the Tendal Verdiona Mine zone.
Preliminary
results of the gravity survey are expected by the end of May and along the drill
results of the current Phase I program will provide the basis for an independent
43-101 report on the Tendal project and support for our Phase II drilling
program commencing in Q-4, 2008.
The
Tendal project is 100% owned by LAT and consists of six large mining concessions
in two blocks covering 36,434 hectares. Included in the project area, are
several small historic mines, comprising less than 1% of the total project area.
Five of the historic mines have been acquired by LAT including the Yegua Pircada
lead prospect covering 18ha, the Verdiona zinc-copper prospect covering 6ha, the
Estrella Primera copper prospect covering 6ha and Estrella Alta copper prospect
covering 6ha. Teck Cominco Limited has also been acquiring exploration
concessions and historic mines in the area and owns five small historic mines
covering 114ha within LAT�s exploration concessions. Please refer to LAT�s
website (www.latinamericanminerals.com) for the location of LAT�s mining concessions and the
historic mines.
The
Diamond drill program is designed to test the massive sulphide mineralization
exposed on surface on the Verdiona, Yegua Pircada, Las Catitas and El Alto
Zones, as shown on the Company web site.
The
Verdiona massive sulphides are
stratabound and confined to a horizon, which can be traced on surface for almost
2km and is up to 80m true width. The mineralization occurs as numerous
individual stacked lenses of massive sulphides, which strike northerly and dip
westerly at 40 degrees and range from 1 to 35m thick (true width). The
mineralization is variably oxidized on surface comprising oxides of copper
(chalcocite and malachite) and lead along with sphalerite and specularite.
Diamond saw channel sampling has been completed across the entire length of the
Verdiona massive sulphide trend. The significant assay results
include:
Trench |
Interval
(m) |
Zn% |
Pb% |
Cu
% |
Ag
(ppm) |
TR-4 |
18.5 |
4.28 |
0.75 |
0.7 |
7.45 |
Including |
6.0 |
8.66 |
2.24 |
0.7 |
16.00 |
TR-5 |
29.0 |
4.44 |
2.75 |
0.1 |
12.71 |
Including |
7.5 |
7.23 |
1.75 |
0.34 |
34.00 |
Including |
10.0 |
3.01 |
4.63 |
0.02 |
11.00 |
TR-15 |
13.21 |
3.65 |
0.51 |
0.64 |
29.01 |
Including |
5.07 |
6.26 |
0.98 |
0.08 |
27.18 |
TR-22 |
25.0 |
3.91 |
0.18 |
0.33 |
5.76 |
Including |
16.0 |
5.98 |
0.28 |
0.49 |
8.83 |
For
a complete listing of the assay results all of the please see www.latinamericanminerals.com
(this will be a direct link to the complete assay table).
The Yegua Pircada massive sulphide
discovery is located 3.6km west of the Verdiona Zone. The sulphides are
stratabound and occur within limestone unit that is 40m wide and trends N-S,
parallel to the Verdiona Zone. Massive sulfide mineralization has been traced on
surface for over 700m in two main mineralized zones located at the hanging wall
and footwall of the limestone unit. Each mineralized zone is between 8-12m wide
and is comprised of several lenses up to a meter wide and many smaller parallel
lenses. Diamond saw channel sampling has been completed across the entire
length of the Yegua Pircada massive
sulphide trend. The significant assay results include:
Trench |
Interval
(m) |
Zn% |
Pb% |
Cu
% |
Ag
(ppm) |
Tr-3 |
4 |
6.17 |
1.40 |
0.01 |
8.72 |
Tr-4 |
8 |
3.09 |
9.38 |
0.03 |
91.02 |
Tr-5 |
8 |
1.90 |
5.51 |
0.01 |
45.16 |
Las
Catitas massive
sulphide discovery is located 400m south of the Verdiona Zone. Las Catitas is a
complex mineralized zone approximately 300m wide. Mineralization is found in
lenses similar to the ones exposed on the Verdiona Zone, in veins and
disseminated in the host rock. Massive sulphide lenses are up to 3m wide and
have been traced in outcrop for approximately 50m. Chip channel sampling returned 3.33% Cu, 0.37% Zn and 25gpt Ag over 3m.
Host rock (sandstone) adjacent to the mineralized lenses/veins
contains disseminated sulphides. Trenches 39 and 40 in the following table shows
the extension of disseminated
mineralization in the wall rock:
Trench |
Interval
(m) |
Zn% |
Pb% |
Cu
% |
Ag
(ppm) |
Tr-39 |
27.5 |
0.66 |
0.7 |
0.24 |
4.95 |
including |
4.0 |
1.22 |
0.3 |
0.2 |
21.68 |
Tr-40 |
36.0 |
0.59 |
0.24 |
0.22 |
3.83 |
including |
6.0 |
1.3 |
0.07 |
1.12 |
18.42 |
El
Alto massive
massive
sulphide discovery is located 700m west of the Verdiona Zone and consists of
five parallel E-W vein breccias between 0.4 and 1m wide. The veins can be traced
in outcrop for approximately 50m, at which point, the vein-zone is covered by
overburden. Selected grab samples
returned to 9% Cu and 0.2% Zn.
Dr.
Perez is the Company�s internal �Qualified Person� under the requirements
of National Instrument 43-101 and is responsible this press release.
LAT
is a mineral exploration company focused on the acquisition and development of
base and precious metals projects in under-explored but highly prospective
countries of Latin America.
For
more information please contact David Wahl at (416) 363-0841,
or
visit www.latinamericanminerals.com.
Sampling
and Analytical Protocols:
Sampling and analytical protocols were implemented and supervised by or under
the direction of Dr. Waldo Perez, the Company�s internal Qualified Person as
defined by National Instrument 43-101. All of the lithogeochemical samples were
collected by geologists taking into account the nature of the material being
sampled and with due respect to geologic contacts. The individual sample
interval varied depending on the location but typically ranged from 0.5 to 5.0
metres. Each individual sample weighted between 2 to 5 kilograms and was
collected in a plastic bag, tagged with a pre-numbered ticket and tightly closed
with plastic tape. The samples were stored in a secured location at the base
camp and were transported by Company professional to Alex Stewart Assayers
Argentina S.A. (�ASAA�) laboratories in Mendoza (Argentina). ASAA is an ISO
9001-certified laboratory with headquarters in England. The samples were
crushed, dried, split and grinded to #200 mesh. A total of 200 grams of sample
have been separated for analysis. All samples were assayed for 39 elements by
ICP. The samples were dissolved in Aqua Regia at 120�C and read in ICP-OES. The
samples that were above the upper detection limit for Cu, Pb and Zn (1%) for the
technique were reanalyzed by dissolving in Aqua Regia again using a larger
volume of solution to raise the upper detection limit to 30% for Cu, Pb and Zn.
Silver above 200 ppm was re-run by Fire Assay with gravimetric finish. Accuracy
and precison of results is tested through the systematic inclusion of certified
reference standards, blanks and duplicates.
The
TSXV has not reviewed and does not accept responsibility for the adequacy or the
accuracy of this release. This news release contains forward-looking statements,
which can be identified by the use of statements that include words such as
�could�, �potential�, �believe�, �expect�, �anticipate�, �intend�, �plan�,
�likely�, �will� or other similar words or phrases. These forward-looking statements,
including statements regarding the Corporation�s beliefs in potential
mineralization, are based on current expectations, assumptions and projections
about future events and entail various risks and uncertainties that are beyond
the Corporation�s ability to control or predict. Actual results may materially differ from
expectations as more information regarding a property is gathered or if the
Corporation�s estimates or assumptions prove inaccurate. Factors that may
materially affect actual results include, but are not limited to, political,
business and economic conditions in Argentina and in jurisdictions where the
Corporation conducts business, and risks associated with mineral exploration and
production. The
Corporation does not intend, and does not assume any obligations, to update
forward-looking statements, whether as a result of new information, future
events or otherwise except
as required by applicable securities law.
Readers should not place undue reliance on forward-looking statements. The
results described herein are exploratory in nature and there can be no assurance
that they are indicative of Mineral Resources as defined in accordance with
National Instrument 43-101.
Historic
estimates contained herein do not meet the definition of Mineral Resources as
contained in National Instrument 43-101 of the Canadian Securities
Administrators; furthermore, neither the Corporation nor the Qualified Person
have reviewed any of the reports or exploration results underlying such
estimates and accordingly, such estimates (and any assumptions underlying such
estimates) have not been independently verified. As a result, there can be no
assurance that such historic estimates are reliable, or that such estimates are
indicative of any mineralization which would meet the criteria of Mineral
Resources as defined in accordance with National Instrument 43-101.
Consequently, no reliance should be placed upon these historical estimates.
However, the Corporation believes that these historical estimates may be
indicative of the potential for mineralization on these
properties.
TOR_LAW\
6850752\2
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Latin American Minerals Inc.
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EXPLORATION STAGE |
CODE : LAT.V |
ISIN : CA51827X1015 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Latin American Min. is a gold exploration company based in Canada. Latin American Min. holds various exploration projects in Argentina, in Colombia and in Paraguay. Its main exploration properties are LA CAROLINA, USPALLATA GRABEN and RIO TENDAL in Argentina, PASO YOBAI in Paraguay and ESMERALDA (LATIN AMERICAN) in Colombia. Latin American Min. is listed in Canada. Its market capitalisation is CA$ 2.5 millions as of today (US$ 1.9 millions, € 1.6 millions). Its stock quote reached its highest recent level on June 20, 2014 at CA$ 2.50, and its lowest recent point on June 19, 2020 at CA$ 0.01. Latin American Min. has 70 440 000 shares outstanding. |
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