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� Toronto, Ontario � Latin
American Minerals Inc. (TSXV:LAT) (the �Corporation�) announces the
first quarter exploration program for the Paso Yobai
Gold Project is underway, including a 2000m diamond drilling program. The
drill rig is already on site. Refer to www.latinamericanminerals.com for pictures of the
ongoing drilling.
The Paso Yobai Gold Project consists of a very large footprint
epithermal gold system exposed near surface along two trends:
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The Discovery Trend which is currently 8 km long, and
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The Valientes Trend (formerly known as the
New Trend, LAT New Releases dated Nov. 05, 2009 and Feb. 17, 2010) which is
approximately 11 km long.
Exploration work to date
on the 15,111 hectare concessions includes 6700m of diamond drilling, which
outlined mineralization from surface to depths of 100m to 130m, 18 large
machine-made trenches exposing the uppermost 13m of vein mineralization, and
extensive soil sampling, rock sampling and geophysics.
An aggressive new work
program has begun on the project consisting of exploration activity in three
areas, to be conducted simultaneously.
Program 1 - Discovery Zone
Detailed Trenching and In-fill Drilling:
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1500m of diamond drilling to in-fill the central 200m of the Discovery
Zone area with a 25m x 25m grid. This drilling began on Jan 29, 2011.
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500m of deep exploration drilling below the existing known
mineralization in the central area of the Discovery Zone;
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deep mechanical trenching at 25m intervals though the central 200m of
the Discovery Zone;
Miles Rideout,
President and CEO of the Corporation explained the importance of this initial
drill program: �The in-fill trenching, grid-drilling and deep drilling
through the core Discovery Zone is work that is essential to our
understanding of the Paso Yobai mineralization and
to the operation of our new commercial-scale bulk sampling plant (LAT News
Release dated Jan. 24, 2011). This program will culminate in 9 detailed
geologic sections spaced at 25m intervals, depicting the grades and the
geologic model from surface to depths exceeding 150m. Accurate delineation of
the mineralization at depth is one important element in the process of adding
ounces to this deposit.�
Program 2 - Exploration
trenching along the northern arm of the Discovery Trend
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5 new mechanical trenches at 200m intervals over the mostly unexplored
1100m long northwest arm of the Discovery Trend.
Rideout added the
following about the continuing exploration along the Discovery Trend: �The
high-value gold anomaly in the soil samples extends for almost 4.5km of the
Discovery Trend. The anomaly values are pretty consistent over this length.
The central 1500m of this anomaly has been the focus of LAT�s trenching and
drilling. The northern arm, more than 1100 m long, has previously been tested
with limited, shallow trenching and only three drill holes. The new trenching
program is the beginning of a concerted exploration program for this sizable
target area. There is a lot of potential in this area.�
Program 3 -Exploration on
the Valientes Trend
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The environmental permit has been received for the 100% LAT owned
prospecting concession, which encompasses most of the 11 km-long geologic Valientes Trend target (formerly referred to as the New
Trend).
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The Valientes Trend consists of five large
geochemical anomalies that will be intensively investigated by auger-hole
sampling, trenching where appropriate, and subsequent exploration drilling.
The next phase of
exploration on the Valientes trend was summarized
by Rideout: �Since we have large, high value yet
discontinuous soil and rock gold anomalies occurring along a linear feature,
we anticipate that alternative mineral models may apply, including structural
intersections, diatremes or mineralized intrusives .LAT is conducting detailed ground work now to
facilitate future drill targeting.�
Paraguay
has good social conditions and infrastructure to support construction of new
mines. Though underexplored, Paraguay has favorable regulations for
investment, mine development and exports. The Corporation�s Chiriguelo Rare Earth Element and Itapoty
Diamond Projects are also located in Paraguay.
Latin
American Minerals Inc. is a mineral exploration company focused on the
acquisition and development of base and precious metals projects in highly
prospective countries of South America. Dr. Waldo Perez is the Company's
internal "Qualified Person" under the requirements of National
Instrument 43-101.
For more
information, please contact:
Miles Rideout
President and CEO
Argentina: (54-261) 439-9268
Toronto: (1-416) 902-8558 or 363-0841
www.latinamericanminerals.com
Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
The statements made in this press
release that are not historical facts contain forward-looking information
that involves risk and uncertainties. All statements, other than statements
of historical facts, which address the Latin America�s expectations, should
be considered forward-looking statements. Such statements are based on
management�s exercise of business judgment as well as assumptions made by and
information currently available to management. When used in this document,
the words �may�, �will�, �anticipate�, �believe�, �estimate�, �expect�,
�intend� and words of similar import, are intended to identify any
forward-looking statements. You should not place undue reliance on these
forward-looking statements. These statements reflect our current view of
future events and are subject to certain risks and uncertainties as contained
in Latin America�s filings with Canadian securities regulatory authorities.
Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, our actual results could differ
materially from those anticipated in these forward-looking statements. We
undertake no obligation, and do not intend, to update, revise or otherwise
publicly release any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof, or to reflect the occurrence
of any unanticipated events, unless required under applicable securities
laws. Although we believe that our expectations are based on reasonable
assumptions, we can give no assurance that our expectations will materialize.
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