Latin Metals Inc. a leading mineral exploration company in South America, announces significant progress in its Mirador project in Argentina with the discovery of additional outcropping copper mineralization, where an extensive drainage survey is underway to screen the entire property. Initial prospecting at Mirador (previous news release January 17, 2023) identified outcropping sediment-hosted copper mineralization with one sample grading 2.4% copper. The discovery served as critical proof of concept for Latin Metals.
The recent mapping of additional outcropping copper mineralization builds upon this success, reinforcing the validity of the company’s exploration thesis. Exploration at Mirador began last month and it is planned that the property will be systematically covered by drainage sampling and prospecting. At this early stage the Company’s geologists have only walked over approximately 10% of this very large property and so it is encouraging to have already located additional outcropping copper mineralization. (Figure 1)
In addition to the advancements at Mirador, Latin Metals is pleased to report the acquisition of a 100% interest in the Ventana copper project (“Ventana” or the “Project”) through an agreement with Dreston SRL (“DSRL”), pursuant to which Latin Metals has purchased from DSRL (via an indirect subsidiary of Latin Metals), a 100% interest in the Project (Figure 2), for total cash consideration of $1,000,000 Argentine pesos. Situated in Salta Province, northwest Argentina, the Ventana project presents additional prospects for the discovery of sediment-hosted copper mineralization.
Together with the Company’s Mirador project and the recent acquisition of the Solario project, this additional acquisition further solidifies Latin Metals’ position as first mover in this emerging copper belt.
Ventana Project Highlights:
- Ventana Acquisition: Latin Metals now fully controls the Ventana project, encompassing an extensive 176,000 hectares in Salta.
- Exploration Potential: The Ventana project is favorably situated in the Cretaceous belt in central Salta, which the Company believes has potential for sediment-hosted copper deposits.
- Untapped Region: Latin Metals’ foresight has identified considerable exploration potential in the underexplored rift area of central Salta. The region shares geological characteristics with global sediment-hosted copper deposits, yet it remains underexplored.
As part of its forward-looking strategy, Latin Metals intends to initiate a large-scale regional stream sediment sampling program across its Mirador, Solario, and Ventana copper exploration projects. With one field team already operational, Latin Metals plans to deploy additional teams to expedite the initial screening of these three properties over the ensuing six months. This comprehensive geochemical screening is expected to highlight the most promising areas for further exploration.
About Latin Metals
Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. 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.
The work program at Ventana was designed and supervised by Eduardo Leon, the Company’s Exploration Manager, who will be responsible for all aspects of the work, including the quality control/quality assurance of the following programs.
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.
President & CEO
For further information, please contact:
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