26. Jun. 2008 - Latin American Minerals identifies high grade zinc massive sulfides in the drilling program at Tendal Project, La Rioja, Argentina | |
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Toronto, Canada, June 26, 2008, Latin American Minerals Inc. (LAT - TSX-V) announces it has identified several massive sulfide lenses with grades of 9.18% Zn and 3.57% Pb over 1.7m and 10% Zn and 0.59% Pb over 1.4m as well as wide low grade zinc intervals including 50m with 1% Zn, at its 100% owned Tendal massive sulphide project, La Rioja Province, Argentina. The wide intervals are close to surface and amenable to open pit mining.
The first 2,000m of the planned 5,000m drill program have been completed on the three main targets: Yegua Pircada, Verdiona and Catitas. All three targets expose massive sulfides at surface (trench results summarized in April 22nd, 2008 press release).
A total of 17 holes were drilled in the project. At the Yegua Pircada target, three holes were drilled and two intercepted massive sulfides. Summary results are as follows:
|
HOLE |
FROM |
TO |
Width |
Ag (ppm) |
Cu% |
Pb % |
Zn % |
|
DDH-15 |
0 |
0.4 |
0.4 |
92 |
|
18.98 |
9.68 |
|
DDH-16 |
55.15 |
105.2 |
50.05 |
5 |
0.01 |
0.62 |
0.95 |
|
Includes |
58.15 |
62.15 |
4 |
32 |
0.02 |
2.92 |
4.61 |
|
Includes |
85.15 |
103.9 |
18.7 |
7 |
0.01 |
1.01 |
1.49 |
|
Includes |
94 |
98 |
4 |
19 |
0.01 |
3.15 |
5.18 |
|
Includes |
96.3 |
98 |
1.7 |
25 |
0.03 |
3.57 |
9.18 |
At the Verdiona target a total of 11 holes were drilled. Ten holes intercepted massive sulfides and one did not reached the target due to poor ground conditions. Summary results are as follows:
|
HOLE |
FROM |
TO |
Width |
Ag (ppm) |
Cu% |
Pb % |
Zn % |
|
DDH - 02 |
55 |
71.55 |
16.55 |
|
|
|
1.28 |
|
Includes |
59.3 |
66.21 |
6.91 |
2 |
0.67 |
|
2.50 |
|
Includes |
62.3 |
63.3 |
1 |
18 |
3.60 |
|
6.70 |
|
DDH-06 |
19.45 |
45 |
25.55 |
|
|
|
1.02 |
|
Includes |
20.49 |
24.9 |
4.41 |
14 |
0.04 |
0.36 |
4.99 |
|
Includes |
22.8 |
24.2 |
1.4 |
28 |
0.08 |
0.59 |
10.09 |
|
DDH-7 |
22.84 |
44.5 |
21.66 |
|
|
|
1.22 |
|
Includes |
22.84 |
30.13 |
7.29 |
14 |
0.40 |
0.50 |
3.18 |
|
Includes |
23.85 |
25.6 |
1.75 |
33 |
|
1.46 |
6.53 |
|
DDH-8 |
22.05 |
32.8 |
10.75 |
9 |
0.40 |
0.27 |
2.05 |
|
Includes |
23.05 |
25.15 |
2.1 |
22 |
0.02 |
1.17 |
5.07 |
|
Includes |
28.8 |
30.6 |
1.8 |
25 |
2.39 |
0.16 |
5.56 |
At the Catitas target three holes were drilled. Two holes missed the target because they entered into modern andesite dykes and one hole yielded the following:
|
HOLE |
FROM |
TO |
Width (m) |
Ag (ppm) |
Cu% |
Pb % |
Zn % |
|
DDH-11 |
111.9 |
113.1 |
1.2 |
20 |
1.2 |
|
2.9 |
For a complete listing of the assay results please see http://www.latinamericanminerals.com/NRfiles/NR062608_Results.html
Tin was discovered in surface grab samples containing up to 1.5% Sn. In light of this recent discovery the Company is re-assaying all drill core for tin. Some massive sulfide deposits report tin as a secondary recoverable mineral. The current tin price is approximately US $10.00 per pound and if confirmed in drill core would represent a significant credit to the value of the mineralization at Tendal.
Dr. Waldo Perez, Senior VP Exploration reports that ��the current drilling results prove that the massive sulfides that can be traced on surface for at least 2km from Verdiona to Catitas and for 0.4km at Yegua Pircada extend to a depth of at least 100m. The next phase is to test the plunge of the lenses within the mineralized zone along strike.
A gravity survey was carried out by Quantec Geoscience Ltd out of Mendoza, Argentina. The survey was carried out along the Catitas-Verdiona trend, where numerous lenses of massive sulfide are found at surface. The lenses on surface get narrower south of Verdiona towards Catitas, therefore the gravity survey was aimed at identifying large hidden massive sulfide lenses along the strike of the system. A one kilometer gravity high anomaly was identified immediately south of the main massive sulfide exposed on surface in Verdiona suggesting the presence of a large, near surface extension of the main massive sulfide horizon that requires drill testing.
Mr. David Wahl, President and CEO reports that ��the clear spatial relationship of the gravity anomaly with the known massive sulfides at surface confirms the large volume potential of the Verdiona trend. I believe that we are close to the discovery of a significant massive sulfide camp in South America��.
The Company also reports that the recently concluded analyst tour to Tendal and Paso Yobai was a great success. The Northern Miner is publishing an article on the tour in its special edition on Latin America to be released tomorrow.
The Tendal project is 100% owned by the Company and consists of six large mining concessions in two blocks covering 36,434 hectares. Included in the project area are several small historic mines, comprising less than 1% of the total project area. Five of the historic mines have been acquired by the Company including the Yegua Pircada mine license covering 18ha, the Verdiona zinc-copper mine license covering 6ha, the Estrella Primera copper mine license covering 6ha and Estrella Alta copper mine license covering 6ha. Teck Cominco Limited has also been acquiring exploration concessions and historic mine licenses in the area and owns five small historic mines covering 114ha within the Company�s exploration concessions. Please refer to the Company�s website (www.latinamericanminerals.com) for the location of its mining concessions and the historic mines.
Dr. Perez is the Company�s internal �Qualified Person� under the requirements of National Instrument 43-101 and is responsible this press release.
LAT is a mineral exploration company focused on the acquisition and development of base and precious metals projects in under-explored but highly prospective countries of Latin America.
For more information please contact David Wahl at (416) 363-0841, or visit www.latinamericanminerals.com.
Sampling and Analytical Protocols: Sampling and analytical protocols were implemented and supervised by or under the direction of Dr. Waldo Perez, the Company�s internal Qualified Person as defined by National Instrument 43-101. All of the lithogeochemical samples were collected by geologists taking into account the nature of the material being sampled and with due respect to geologic contacts. The individual sample interval varied depending on the location but typically ranged from 0.5 to 5.0 metres. Each individual sample weighted between 2 to 5 kilograms and was collected in a plastic bag, tagged with a pre-numbered ticket and tightly closed with plastic tape. The samples were stored in a secured location at the base camp and were transported by Company professional to Alex Stewart Assayers Argentina S.A. (�ASAA�) laboratories in Mendoza (Argentina). ASAA is an ISO 9001-certified laboratory with headquarters in England. The samples were crushed, dried, split and grinded to #200 mesh. A total of 200 grams of sample have been separated for analysis. All samples were assayed for 39 elements by ICP. The samples were dissolved in Aqua Regia at 120�C and read in ICP-OES. The samples that were above the upper detection limit for Cu, Pb and Zn (1%) for the technique were reanalyzed by dissolving in Aqua Regia again using a larger volume of solution to raise the upper detection limit to 30% for Cu, Pb and Zn. Silver above 200 ppm was re-run by Fire Assay with gravimetric finish. Accuracy and precision of results is tested through the systematic inclusion of certified reference standards, blanks and duplicates.
The TSXV has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. 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 Argentina and 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 law. Readers should not place undue reliance on forward-looking statements. . 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.