Lacsha Sampling Details
A total of seventeen rock samples were collected with copper values ranging from 110 ppm to 6,410 ppm and molybdenum values ranging between 1.5 ppm and 86.8 ppm (Figure 1, Plate 1).
The 4,000-hectare property was acquired based on historical stream sediment, soil and rock sampling results, defining an area of anomalous copper over approximately 5.0 km by 2.5km (news release
Property geology is dominated by granodiorite pluton intruded by various granites bodies up to 1 km length cut by monzonitic and diorite dykes with dominant north to northeast orientation. The area is largely covered by recent quaternary material of approximately 1 m in thickness obscuring much of the outcrop. There is significant potential for additional altered and mineralized rock to be discovered beneath this thin cover. Alteration mapped at surface is dominated by epidote as veinlets cutting the intrusive rocks and chlorite-magnetite replacing mafic minerals. Mineralization is related to oxidation of disseminated sulfides and quartz-copper oxide zones up to 2 m thick.
Next Steps
Follow-up work will include stream sediment sampling to cover the entire property and establish the most anomalous areas. Rock sampling and mapping will accompany this work, which will be undertaken in Q1.
The Company has met with the local community and has had very positive discussions about the planned work and schedule. As exploration proceeds, the Company will be aiming to secure drill permits to test priority targets when they are fully defined.
Figure 1: Geological map of the Lacsha Property with Historical and Current Rock Sampling Results.
https://www.globenewswire.com/NewsRoom/AttachmentNg/8d5e4b69-d234-444b-93ac-5e2c38222109
Plate 1: Mineralized
https://www.globenewswire.com/NewsRoom/AttachmentNg/2166808d-7475-4131-8d99-478d65d8318e
Incentive Stock Options
The Company also announced that it has granted 150,000 common share stock options (each an “Option”) to various employees and consultants of the Company and its affiliates. The Options entitle the holder to purchase shares at a price of
QA/QC
The work program at Lacsha was designed and is supervised by
On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ALS laboratory in
Qualified Person
The technical content of this release has been approved for disclosure by
About
Mining and extractive industries in the country account for approximately 15% of GDP and
About
On Behalf of the Board of Directors of
“
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:
Suite 2300
Phone: 604-638-3456
E-mail: info@latin-metals.com
Neither
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
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, including TSX-V acceptance for filing of the Option Agreements, 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.
Figure 1
Geological map of the Lacsha Property with Historical and Current Rock Sampling Results.
Plate 1
Mineralized Rock Samples
2021 GlobeNewswire, Inc., source