Toronto, Ontario / TheNewswire / May 2, 2017 - Latin American Minerals Inc. (TSXV: LAT) (the "Company") announces significant results from continued drilling on the Discovery Zone at its Paso Yobai gold project in Paraguay.
In the first quarter of 2017, the Company focused drilling on the southern end of the Discovery Zone, in a stretch not previously drilled. Gold mineralization was returned in all reported holes, which were distributed over a 56 metre distance along the trend. Broad high-grade intersections were recorded in adjacent holes DDH-LAT-78 and DDH-LAT-79. The mineral intersections are tabulated below.
Basil Botha, President and CEO of the Company stated "DDH-LAT-79 has returned the best intersection yet on the Discovery Zone. These bonanza gold values recall the same style of alkaline gold mineralization reported at the Company's Tacuru showing more than 7 km to the north (LAT Press Release July 24, 2012 reported DDH-BT-08 intersections of 94.6 gpt over 2.6m and 107.7 gpt over 2.7m.) Given the similarity in mineralization style and grade encountered throughout the project area, Paso Yobai has strong potential to host a significant alkali gold system."
Results from first quarter 2017 diamond drilling* at the Discovery Zone:
| Drill hole | From (m) | To (m) | Interval (m) | Au (gpt) | Observations | |
| DDH-LAT-72-2 | 109.60 | 118.60 | 9.0 | 1.38 | Interval of targeted veining and alteration |
|
| including interval: | 109.60 | 110.15 | 0.55 | 16.46 | ||
| DDH-LAT-76 | Laboratory assays are pending | |||||
| DDH-LAT-77 | 105.16 | 105.75 | 0.59 | 1.19 | Visible gold noted in interval | |
| DDH-LAT-78 | 85.91 | 90.32 | 4.41 | 2.82 | Visible gold noted in 3 assay intervals |
|
| DDH-LAT-79 | 92.40 | 99.74 | 7.34 | 37.94 | Significant visible gold noted | |
| including intervals: | 96.0 | 96.67 | 0.67 | 34.9 | LeachWellTM assays of | |
| 98.34 | 98.84 | 0.50 | 174.25 | screened fines produced | ||
| 99.24 | 99.75 | 0.50 | 318.5 | assays of >125 gpt for all 3 included intervals |
||
* All intercepts reported represent core lengths; true width will vary depending on the angle of intersections of the diamond drill and the targeted zone. Holes are planned to intersect mineralised zones as close to perpendicular as possible.
Sampling and Analytical Protocols
The sampling and analytical protocols were established, implemented and supervised by or under the direction of Paul Sarjeant, P. Geo., the Company's internal Qualified Person as defined by National Instrument 43-101. At the drill site, the core was placed in core boxes and delivered to a secure field core processing centre. The core was split by trained technicians using a diamond saw and logged by professional geologists. The nominal sample interval was approximately 1m, though locally the interval might be increased to 2m or decreased to 0.5m, the interval being determined by the logging geologists based on geologic indicators. Half of the core was stored in the core box as a permanent reference of the sampled interval and half of the designated sample set was cataloged and sealed in plastic sample bags for delivery to the certified ALS Global laboratory in Mendoza, Argentina, part of the ALS Laboratory Group. The core samples are crushed, pulverized, dried and samples are split. Nominally, 1000g of each sample is ground to minus 200 mesh, split and the assay portion shipped by bonded courier to the ALS laboratory in Lima, Peru. In the general case, gold was analyzed by fire assay with atomic absorption finish using a 50 gram sample. Accuracy of results is tested through the systematic inclusion of blanks, duplicates and certified reference standards.
Assays of Coarse Visible Gold: Coarse gold samples often exhibit a pronounced nugget effect due to the presence of discrete particulate gold. This may generate a scatter in the analytical results making it difficult to assess the true gold concentration. To improve the analytical reproducibility of samples identified with visible gold, screen fire assays were employed. Approximately 1000 gr of prepared pulp is sieved and the plus 75 micron (200 mesh) portion of the sample is screened out and assayed in its entirety. The minus 75 micron portion of the sample is homogenized and a 30 gram fusion is used to determine its grade. As an additional control, an accelerated cyanide leach assay was performed by ALS utilizing LeachWELLTM tabs. The minus 75 micron fraction from the screen assay was split, prior to a 4 hour accelerated leach and atomic absorption assay. The final reported assay value is the weighted average of the final fractions, coarse fraction screen fire assay and fine fraction accelerated leach assay.
About the Company
Latin American Minerals Inc. is a mineral exploration and gold mining company which holds its core gold project in Paraguay. The Company is currently expanding its Independencia Mine gold processing plant to encompass vat-leach gold recovery from mineralization extracted in open pit bulk mining activities at its fully permitted mining concession.
Management has identified exploration targets at Independencia Mine, and six new gold zones on the Company's adjacent exploration claims, for drill testing. This property package comprises the Company's 15,020 hectare Paso Yobai gold project.
The scientific and technical information in this news release has been approved by Paul Sarjeant, P. Geo., a Qualified Person under National Instrument 43-101.
Website: www.latinamericanminerals.com
