| Latin American Minerals Reports Milestone: Heap Leach Processing Initiated at Paso Yobai | |
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TORONTO, ONTARIO--(Marketwired - Sep 29, 2014) - Latin American Minerals Inc. (TSX VENTURE:LAT)(LATNF) (the "Company") reports the commencement of heap leach gold processing at its fully permitted Independencia Mine, part of its Paso Yobai gold project located in Paraguay. Miles Rideout, President and CEO stated, "This step is a milestone towards the Company's objective of developing a significant gold resource in this mining-friendly region. We are fully permitted and now executing heap leach processing, which will form part of any future open pit production decision, as currently envisioned at Paso Yobai. The Company already holds 12 months of assayed stockpiles averaging 0.6 to 0.8 gpt onsite to be processed using heap leach, with ongoing extraction expected to replenish stockpiles. Increased gold recovery from low cost heap leach processing is expected to drive positive cash flow to support operations." The Company is significantly increasing gold extraction at the Independencia Mine. The existing bulk sampling operations at its gravity plant (mill) will now be supplemented with the operation of reusable heap leach pads, effectively expanding its capacity of 4,000 tonnes to 21,000 tonnes per month. The first of several pads has been completed, with gold leaching now underway. The Company is proceeding with construction of additional pads. The heap leach operation contemplates extraction and assaying of saprolite mineralization from the existing open pit, agglomeration of mineralization to improve gold recoveries and leach times to a short 20-30 day period, conveyor belt distribution to reusable covered leach pads, on-site desorption of loaded carbon, electro-winning, and final smelting of doré. Tailings will be rinsed and neutralized prior to movement to the Company's on-site tailings dam. These heap leach pads will run concurrently with on-going gravity plant gold extraction. Dr. Waldo Perez is the Company's internal "Qualified Person" under the requirements of National Instrument 43-101, and has reviewed and approved this news release. The Company's heap leach processing decision is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and is required to advise the reader that there is no certainty the proposed operations will be economically viable. |
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Latin American Minerals Inc.
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EXPLORATION STAGE |
CODE : LAT.V |
ISIN : CA51827X1015 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Latin American Min. is a gold exploration company based in Canada. Latin American Min. holds various exploration projects in Argentina, in Colombia and in Paraguay. Its main exploration properties are LA CAROLINA, RIO TENDAL and USPALLATA GRABEN in Argentina, PASO YOBAI in Paraguay and ESMERALDA (LATIN AMERICAN) in Colombia. Latin American Min. is listed in Canada. Its market capitalisation is CA$ 2.5 millions as of today (US$ 1.9 millions, € 1.6 millions). Its stock quote reached its highest recent level on June 20, 2014 at CA$ 2.50, and its lowest recent point on June 19, 2020 at CA$ 0.01. Latin American Min. has 70 440 000 shares outstanding. |