The Solario project, situated in the Cretaceous belt in central Salta, has significant potential to host sediment-hosted copper deposits.
Solario project location in central Salta Province. (Credit: Latin Metals Inc.)
Latin Metals Inc. (“Latin Metals” or the “Company”) – (TSXV: LMS) (OTCQB: LMSQF) a leading mineral exploration company in South America, announces that it has entered into an agreement with Geoterra SRL (“Geoterra”), pursuant to which Latin Metals has purchased from Geoterra (via an indirect subsidiary of Latin Metals), a 100% interest in the Solario copper project (“Solario” or the “Project”), for total cash consideration of $1,000,000 Argentine pesos. The Solario project, located in Salta Province (“Salta”), northwest Argentina, is prospective for sediment-hosted copper deposits within the Cretaceous belt in central Salta. This strategic acquisition further solidifies Latin Metals’ position as a pioneer in sediment-hosted copper exploration in northwest Argentina.
“As a first mover in sediment-hosted copper exploration in northwest Argentina, Latin Metals is committed to unlocking the untapped potential of this region. The planned exploration will be the first modern exploration directed towards the discovery of large-scale sediment-hosted copper mineralization in this part of South America. Over the past months, we have been focused on growing our copper exploration footprint in Argentina, and the acquisition of the Solario project represents and significant step in that growth plan,” stated Keith Henderson, Latin Metals’ CEO. “The acquisition of the Solario project adds a significant 170,000 hectares to our exploration program and represents a key milestone in our growth strategy.”
Mr. Henderson continued, “The rift in central Salta and the Cretaceous rocks have not been a focus for modern exploration, and as a result, Latin Metals believes that the belt is significantly under-explored. The belt hosts potential source rocks and host rocks as well as structural settings seen in sediment-hosted copper deposits globally. We prioritized this area for acquisition based on recognition of key geological characteristics in common with sediment-hosted copper deposits elsewhere in the world.”
The Company plans to initiate a very large-scale regional stream sediment sampling program covering the Mirador and Solario copper exploration projects. This work will assist in the prioritization of targets for follow-up exploration. The potential host-rock sedimentary formations are typically recessive and are covered by vegetation, which helps to explain why other mining companies have not identified mineralization in this area. We believe that our large-scale geochemical screening will be effective in highlighting the most-prospective areas.
Source: Company Press Release