In order to estimate head grades of the gold bearing
material delivered to the local mills by the artisan miners, Latin American Minerals collected
three mini-bulk samples of approximately 60 kilograms each from pits excavated
by the company to expose the mineralized system.� The samples contain high grade, medium grade
and low grade material. Alex Stewart Assay Laboratories carried out a detailed
screen assay analysis of these materials to determine the head grades for the
various size fractions tested.� Results
are as follows:
1. Sandstone (host rock of
the mafic dyke):
2. Mafic Dyke (medium grade):
3. Mafic Dyke (high grade):
These results show that most of the gold is very
fine.� In the sandstone, up to 89% of the
gold is recovered at -200 mesh, and in the mafic dyke between 11 % and 15% of
the gold is recovered at -200 mesh and 36% of the gold is recovered at -100
mesh. Only greater than 100 mesh material can be recovered from the gravity
circuits of local mill operators, explaining why their recovery of fine gold
has been low.
�The tailings assays show that Paso Yobai not only has
great exploration potential, but that the existing tailing dumps host a
significant value of gold.� This
production comes from 8 pits along 3 km of the 7 km gold trend in Paso Yobai,�
observed Dr. Waldo Perez, Senior VP Exploration.
David Wahl, President and CEO, suggested, �Paso Yobai
provides a unique opportunity for Latin
American Minerals: the project is fully permitted for production, high
grade gold mineralization is exposed on surface, is highly weathered, and can
be extracted by mechanical excavators and processed by gravity to recover the
coarse gold followed by a cyanide leach finish to recover the fine gold.� Results of the ongoing metallurgical testing
are expected within the next month.��
The Paso Yobai
project comprises two nested mining
concessions (Minas Paraguay and Minera Guaira) covering 7,200 ha and three
exploration concessions covering 7,600 ha.�
The mining concessions entirely cover a new gold district 230 km east of
Paraguay�s capital of Asuncion. Latin
American Minerals optioned the mining concessions and acquired the
exploration concessions in April 2007 and has since collected 12,000 soil
samples, completed a 3,800 line kilometres helicopter borne EM and MAG survey,
collected 800 rock chip and channel samples and diamond drilled 5,200
metres.� Results have identified a 7 km
long soil gold anomaly and a 2 km long Discovery Zone with mineralization
confirmed by diamond drilling.�
Mineralization remains open along strike and to depth.
Dr. Waldo Perez, P.Geo., is Latin American Minerals Inc.�s
internal Qualified Person under
the requirements of National Instrument 43-101 and is responsible for this
press release.
Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development
minerals 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
Notes:
Sampling and Analytical Protocols:
The sampling and analytical
protocols were established, 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. The samples from the ponds weighted more
than 5 Kg and were collected digging a hole in the pond between 1m and 3m deep.
Two or three samples were collected in different locales of the pond. The
screen assay samples were collected from the pits and weighted 60 Kg each. The
sample preparation was carried on the Company�s sample preparation facility,
operated by Company technicians under the direct onsite supervision and QA/QC
provided by professionals from Alex Stewart Laboratories. Alex Stewart Assayers
Argentina S.A. (�ASAA�) laboratory is an ISO 9001-certified laboratory with
laboratory facilities in Mendoza, Argentina and headquarters in England. The
tailing pond samples were dried, crushed and split. A total of 200 grams of
sample have been separated for analysis The prepared samples were shipped by bonded
courier to �ASAA� laboratories in Mendoza Argentina for analysis. The screen
assay samples were sent to Alex Stewart Assayers in Peru. The samples were
dried, crushed, split in each mesh. A total of 50 grams of each fraction in the
sample have been separated for analysis. All samples were assayed for gold by
Fire Assay with AA finish using 50 gram sample. Accuracy of results is tested
through the systematic inclusion of blanks and certified reference standards.
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.
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.
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