TORONTO, ONTARIO--(Marketwire - Sept. 10, 2012) - Latin American Minerals Inc. (TSX VENTURE:LAT)(OTCQX:LATNF) (the "Company") announces positive gold results from trenching and drilling along the northern extension of the Discovery Trend of its Paso Yobai gold project in Paraguay. The Company's Independencia Mine pilot operation, located in the central Discovery Zone sector of the Discovery Trend, shipped its first gold bar last week (Press Release August 29, 2012).
Miles Rideout, President and CEO of the Company stated: "These new results from the Discovery Trend program significantly expand the near-surface gold mineralization northward from the Independencia Mine open pit. These data will be used to plan northward pit extensions for bulk testing and to schedule further exploration northward to cover the entire Discovery Trend. We are also working in two other exploration areas of the project. The Paso Yobai epithermal gold system has an impressive footprint and it continues to grow as we explore."
Discovery Trend - North Arm Target
The initially discovered "Discovery Trend" is one of several large gold-mineralized structures on the 60 square-km Paso Yobai property. It is delineated by a soil anomaly 6 km long and 200 m wide, with gold values ranging from 76 to 1065 ppb. The Company recently commenced commercial scale bulk sampling operations at the Independencia Mine located in the central Discovery Zone, as part of a program to expose and quantify this extensive mineralized feature.
In order to continue development of the Discovery Trend formation, the Company collected 660 soil samples over the northern arm of the Discovery Trend target. 265 of these samples showed elevated gold values ranging from 20 to 957 ppb, and averaging 65 ppb gold. The Company subsequently excavated 6 trenches, which were distributed over 1000 metres of the Northern Arm target. The trenches were excavated to 10 m depth, exposing mineralized saprolite rock for mapping and sampling. The most important results from sampling within the trenches are:
- Trench 20: 1.0 m with 2.22 gpt gold;
- Trench 21: 1.3 m with 0.92 gold;
- Trench 22: 1.0 m with 1.9 gpt gold;
- Trench 23: 1.0 m with 6 gpt gold, 1m with 7.6 gpt and 1.37 m with 2.32 gpt gold;
- Trench 24: 1.0 m with 2.89 gpt gold;
- Trench 25: 1.7 m with 49.43 gpt gold.
These results imply a continuous gold bearing structure occurring near surface over 1000 m extent of the trend, extending northwest from the more intensively explored Discovery Zone. The most distant trench is located 2100 metres northwest of the Mina Independencia open pit. (See map entitled "Paso Yobai Discovery Trend Exploration Figure - Sept 2012", posted with this new release on www.latinamericanminerals.com.)
The work program continued with six initial diamond drill holes below these trenches. The most significant gold intersections are:
- DDH 65: 0.45 m with 1.31 gpt gold (true width 0.31 m);
- DDH 67: 0.7 m with 18.83 gpt gold (true width 0.54 m);
- DDH 68: 0.65 m with 3.51 gpt gold (true width 0.35 m) and 0.60 with 1.29 gpt gold (true width 0.33 m).
The northernmost of these drill holes (DDH-65) is located 1600m north of the Independencia Mine pit. These drill intersections confirm that the mineralized structure continues to the northwest from the Independencia Mine pit, through this sector. The mineral trend remains open to the northwest and to depth.
To view "Paso Yobai Discovery Trend Exploration Figure - Sept 2012," please visit the following link: http://media3.marketwire.com/docs/paso_yobai_discovery_fig01_sept10.pdf
About the Paso Yobai Gold Project:
The Paso Yobai Project is a 15,551 hectare exploration and mining property with multiple gold showings evident at surface. The Company's ongoing exploration continues to outline and validate epithermal gold mineralization on the project's Discovery Trend, on the 14.8 km X-Mile Trend and on out-lying targets.
The Company is operating the Independencia Mine Pilot Plant on the Company's 99%-owned, permitted mining concession, part of the Company's larger Paso Yobai Gold Project.
About the Company:
Latin American Minerals Inc. is a mineral exploration company whose core projects include the Company's Independencia Mine and satellite targets in the new Paso Yobai gold district. The Company also holds diamond, REE, Niobium and base metals projects in South America.
Dr. Waldo Perez is the Company's internal "Qualified Person" under the requirements of National Instrument 43-101 and has approved this press release.
Sampling and Analytical Protocols:
The sampling and analytical protocols were established, 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. At the drill site, the core was placed in core boxes and delivered to a secure field core processing centre. The core was "split" using a diamond saw by experienced exploration technicians 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 left in the core box as a permanent reference of the interval sampled and half of the designated sample interval was delivered to the Company's sample preparation facility, operated by Company technicians. The core samples were crushed, dried and split. A portion of the split sample was tagged and archived as coarse reject and the remaining portion ground to minus 200 mesh and shipped by bonded courier to the Alex Stewart Argentina S.A. laboratory in Mendoza, Argentina. All samples were assayed for gold and multi-elements by ICP. Gold was analyzed by Fire Assay with Atomic Absorption finish using 50 gram sample. For the multi-elements, the samples were dissolved in aqua regia and read in ICP-OES. Accuracy of results is tested through the systematic inclusion of blanks, duplicates and certified reference standards.
Metallic or Screen Fire Assays: Many exploration samples exhibit a pronounced "nugget" effect due to the presence of particulate gold in coarse fragments. The net result is a pronounced and unacceptable scatter in the gold analytical results making it difficult to assess the true gold concentration. To improve the analytical reproducibility a Metallic or "Screen" Assay is recommended. In the screen fire assay the sample is crushed, 400gr of pulp is sieved and the plus 100 micron (150 mesh) portion of the sample is screened out and assayed in its entirety. The minus 100 micron (150 mesh) portion of the sample is homogenized and a 50 gram fusion is used to determine its grade. Then the final assay reported is the weighted average of both fractions, coarse and fine.
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 Latin American Minerals' 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 American Minerals' 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.
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.