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Latin American Minerals

Latin American Minerals provides updated results on drilling at Paso Yobai

The drill program comprised 24 holes totaling 5,400m at the Tacuru, Tacuru North and Moroti exploration targets.

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Latin American Minerals focuses on gold projects in Paraguay

Paraguay-focused Latin American Minerals Inc (CVE:LAT) today released drilling results from its Paso Yobai gold project. 

The drill program comprised 24 holes totaling 5,400m at the Tacuru, Tacuru North and Moroti exploration targets.

The Tacuru exploration target was first drilled in 2012 and the previously hit gold, including 107.7 g/t (grams per ton) gold over 3m (metres) at 80m depth.

"The primary goal of the 2018 drilling was to locate and determine an orientation to the silicified zone, which may be the feeder to the gold identified in drilling and in soil samples at the site," said the firm. 

READ: Latin American Minerals closes placing; to advance Paso Yobai gold project

Holes along the western and northern periphery of the Tacuru target intersected a gold zone at surface of up to 16 metres thick at 0.95 g/t gold.

Holes were drilled at the Tacuru North target, which showed 8.5 metres at  0.52 g/t gold. The company said the mineralization appears to be part of the same near surface gold at the Tacuru target approximately 200 metres to the southeast. 

"This is the first time this project has seen a deep drilling program aimed at identifying the source of this large surface anomaly and following up on the high-grade results from 2012," said Jeremy Niemi, director of exploration.

"Our drill campaign has proven a strike length of 300m and while the results to date do not hold the grades we would have hoped for, the nature of these types of systems suggest we are very much on the right track."

"We have made great technical strides while also working hard with both the people of Paso Yobai and the government to make this a mining friendly jurisdiction. These types of systems are incredibly difficult to drill will need a lot of systematic drilling to advance," said president and chief executive officer, Mathew Wilson.

"The company is currently waiting on three assays and is in the process of evaluating options to advance this project and the company in the best interest of shareholders."

Quick facts: Latin American Minerals

Price: $0.02

Market: TSX-V
Market Cap: $2.02 m
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