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Latin Metals Receives Ground Magnetic Survey Results, Lacsha Project, Peru
VANCOUVER, British Columbia, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces receip
About this update from Latin Metals Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces receipt of results from a recently completed ground magnetic survey at its 100% owned property Lacsha copper project (“Lacsha”), Peru. Magnetic anomalies at Lacsha North and Lacsha South (Figure 1a) are coincident with anomalous surface geochemistry in talus and rock chip samples (Figure 1b) and confirm the potential of Lacsha to host porphyry copper-style mineralization. The magnetic anomalies correspond to areas of surface rock chip sampling, including 30m of 0.20% copper and 72m at 0.20% copper (NR21-13, September 14, 2021). In addition to confirming the targets at Lacsha North and Lacsha South, the survey was successful in the definition of two additional new target areas C and D. Magnetic Survey Interpretation The areas of magnetic low highlighted in Figure 1a are interpreted to be phyllic to argillic alteration typically seen above or adjacent to magnetics highs, which are interpreted to be the potassic alteration in a porphyry system. A vertical northeast-southwest section is shown in Figure 2 with discreet magnetic highs located below surface interpreted to be the core areas of potassic alteration typified by secondary magnetite and biotite. Magnetic anomalies at Lacsha North and Lacsha South are coincident with surface geochemistry in talus and rock samples. The magnetic anomaly defining Target C is at slightly higher elevation and therefore does not have a surface geochemical signature. Target D has significant talus anomalies, but no rock sampling has been completed to date. Additional sampling will be carried out at Targets C and D. Next Steps Induced Polarization (“IP”) is planned to follow up on these priority targets and is expected to be completed in the coming month to finalize drill target locations. Drill permitting is underway and expected to be completed before year-end. Coastal Copper Belt The Coastal Copper Belt in Peru is a Cretaceous belt hosting a variety of deposit types including Porphyry, Epithermal, VMS and IOCG. Latin Metals’ 100%-owned Lacsha copper-molybdenum and Auquis copper-gold projects are both located in the northern Lima-Ica portion of the coastal belt. Incentive Stock Options The Company also announces that it has grant...