Join Ellis Martin for a conversation with Elyssia Patterson, Director of Corporate Communications for Latin Metals Corp (TSX-V:LMS) (OTCQB:LMSQF) as we discuss the following news release.
Latin Metals Inc. provides an update on exploration at the Cerro Bayo project located in the Deseado Massif, Santa Cruz Province, Argentina. Cerro Bayo is subject to an earn-in agreement with a wholly owned subsidiary of Barrick Gold Corporation. Under the terms of the Earn-In Agreement, Barrick has the right to acquire up to an 85% interest in the Project.
Exploration Update & Planned Work Exploration completed by Barrick in the first year of the Earn-In Agreement has identified a preserved low sulphidation epithermal system and included:
Structural mapping is key with identification of west-northwest to northwest trending structures that are believed to control mineralization in the area. These faults define an extensional basin which is approximately 6km wide (Figure 1). Rock sampling identified mineralization up to approximately 2 g/t gold (Figure 2). The exploration program is targeting potential bonanza grade gold and silver at 150m to 200m depth from palaeosurface.
The project holds an environmental permit for prospecting activities, which allows for surface work (excluding trenches). Barrick is evaluating additional exploration work that may include:
The program would generate approximately 2,500 samples crossing all of the vein zones identified to date. Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America, primarily Argentina and Peru. The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration. Latin Metals has recently concluded deals to option out exploration properties to a wholly-owned subsidiary of AngloGold Ashanti, a wholly-owned subsidiary of Barrick Gold Corporation, and Libero Copper.
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