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Latin American Minerals Announces Proposed Work Plan on Butt Township Uranium and Rare-Earth Project
Toronto, Ontario--(Newsfile Corp. - October 29, 2018) - Latin American Minerals Inc. (TSXV: LA...
About this update from Sterling Metals Corp.
[{"type":"text","content":"Latin American Minerals Announces Proposed Work Plan on Butt Township Uranium and Rare-Earth ProjectToronto, Ontario--(Newsfile Corp. - October 29, 2018) - Latin American Minerals Inc. (TSXV: LAT) (\"LAT\" or the \"Company\") is pleased to announce the completion of a preliminary review of historical data on its Butt Township property (the \"Property\") and an initial proposed two-phase work program of approximately $200,000, staking of additional claims, and completion of the first option payment to the Property vendor. Property Summary and HighlightsThe Property consists of 133 mineral claims covering approximately 1,621 hectares in Butt Township, District of Nipissing, Ontario. Uranium and rare-earth bearing pitchblende was discovered on the Property in the early 1900's. The Property lies within the Kiosk geological domain and is underlain by mafic, quartzo-feldspathic, and metapelitic geological units. These various geological units host radioactive granitic pegmatite dikes which contain minerals such as allanite, uraninite, pyrochlore, columbite, and other rare earth and uranium-bearing minerals.Recent target-generation exploration work has been completed on the Property, including magnetometer and induced polarization geophysical surveys, geological mapping, and prospecting. The Property has never been drilled, but numerous historical trenching and small-scale mining operations have occurred on the Project. Advanced prospects on the Property include: the William Elliot & Mica Lake prospects, discovered in 1919 from which highly selective grab samples returned up to 79.5 % U3O8 along with high-grade rare earth elements; the Ryan, Mann and Sheehan prospect, discovered in 1921 from which selective grab samples returned up to 0.45 % U3O8 over a 3 foot chip sample; the E.J Rivers prospect, discovered in 1953 from which selective grab samples returned values of up to 9.75 % U3O8 along with high-grade rare earth elements. In addition, the Property is contiguous with Ontario Graphite's Kearney Mine property.Figure 1To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/5398/40676_7e43c1a194f64a8a_001full.jpgA summary of the more significant mineral occurrences in the area and property highlights can be seen in figure 1.Proposed Work ProgramA two phase exploration program has been propos...