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Latin Metals Receives Positive Results from Mapping and Sampling at the Lacsha Copper Project, Peru
VANCOUVER, British Columbia, Jan. 13, 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, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces receipt of positive exploration results from its 100% owned Lacsha copper property (“Lacsha” or the “Project”) located in the Peruvian Coastal Copper Belt. Rock sampling results confirm the existence of copper mineralization at Lacsha, related to the Coastal Batholith. Lacsha Sampling Details A total of seventeen rock samples were collected with copper values ranging from 110 ppm to 6,410 ppm and molybdenum values ranging between 1.5 ppm and 86.8 ppm (Figure 1, Plate 1). The 4,000-hectare property was acquired based on historical stream sediment, soil and rock sampling results, defining an area of anomalous copper over approximately 5.0 km by 2.5km (news release August 4, 2020). Verification of altered and mineralized outcrop at surface confirms the Company’s exploration model. Property geology is dominated by granodiorite pluton intruded by various granites bodies up to 1 km length cut by monzonitic and diorite dykes with dominant north to northeast orientation. The area is largely covered by recent quaternary material of approximately 1 m in thickness obscuring much of the outcrop. There is significant potential for additional altered and mineralized rock to be discovered beneath this thin cover. Alteration mapped at surface is dominated by epidote as veinlets cutting the intrusive rocks and chlorite-magnetite replacing mafic minerals. Mineralization is related to oxidation of disseminated sulfides and quartz-copper oxide zones up to 2 m thick. Next Steps Follow-up work will include stream sediment sampling to cover the entire property and establish the most anomalous areas. Rock sampling and mapping will accompany this work, which will be undertaken in Q1. The Company has met with the local community and has had very positive discussions about the planned work and schedule. As exploration proceeds, the Company will be aiming to secure drill permits to test priority targets when they are fully defined. Incentive Stock Options The Company also announced that it has granted 150,000 common share stock options (each an “Option”) to various employees and consultants of the Company and its affiliates. The Options entitle the holder to purchase shares at a price of $0.16 per s...