TORONTO, ONTARIO--(Marketwire - March 31,
2009) - Latin American Minerals Inc. (TSX VENTURE:LAT) has resumed its resource
definition drilling program on the 1,000 metre long Discovery Zone at its Paso Yobai Gold Project in Paraguay.
The first 1,500 metres of the 2009 program targets confirmation of continuity
at depth and extension of high grade gold mineralization discovered earlier by
drilling and exposed during trenching. Results are detailed in our releases of
January 17th, 2008: "Latin American Minerals Intersects 6.5 m with 26.64 gpt gold including 4 m with 43.08 gpt
gold," and January 8th, 2009: "Mechanical Trenching Reports 7 gpt Gold over 8.5 Metres." In addition to the
mineralization expansion potential of the current drilling program, results will
be used to generate a resource estimate for the Discovery Zone in compliance
with NI 43-101, and to establish parameters for the entire Paso Yobai gold trend.
The company has completed two holes. Both intersected the gold bearing zone
characterized by intense quartz-calcite veining, disseminated pyrite and strong
smectite and kaoline
alteration. The holes were located to test the down dip extension of the gold
mineralization exposed in trenches 1 and 2 respectively. Subsequent holes will
test the gold bearing zone below the remaining trenches at depths between 50
and 150m.
The Paso Yobai gold trend is defined by an 8,000
metre long by 300 metre wide gold soil anomaly. The core of the anomaly is
defined by gold values ranging from 75 ppb to 1,100 ppb. Airborne and ground
magnetometer surveys identified a linear magnetic feature coincident with the
gold soil anomaly. The gold is hosted in veins and stockwork
within the more intensely altered and fractured portions of a mafic dyke intruding sandstone.
Reconnaissance diamond drilling completed during 2007-2008 on sections
established at 200-400 metre intervals along strike of the Paso Yobai gold soil/magnetic anomaly confirmed the continuity
of the gold bearing dyke (December 18th, 2007: "Latin American Minerals
Completed 2,000 m of Drilling at its Paso Yobai Gold
Project; Finds Gold at Depth"). Geochemically anomalous gold values were
reported in all holes, and several of the holes intersected encouraging gold
values over potentially significant intervals. Most of the follow-up
exploration activity focused on the most readily accessible long section of the
Paso Yobai trend named the Discovery Zone.
Dr. Waldo Perez, P.Geo., Senior Vice-President of
Exploration of Latin American Minerals Inc., is the designated Qualified Person
for the Project and is responsible for the contents of this news release.
Latin American Minerals Inc. is a mineral exploration company focused on the
acquisition and development of exploration opportunities in South
America.
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 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, except as required by
applicable securities laws. 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.
Drill Rig:
Core Sample:
The TSXV has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release.