The Yanba acquisition was completed following completion of an extensive regional stream sediment survey
Map showing the newly acquired Yanba copper project. (Credit: Latin Metals Inc.)
Latin Metals Inc. (“Latin Metals” or the “Company”) – (TSXV: LMS) (OTCQB: LMSQF) announces that it has acquired a 100% interest in the Yanba copper exploration project, Coastal Coper Belt, Peru. The 4,000-hectare Yanba project (“Yanba”) is located close to the Company’s Lacsha copper project (“Lacsha”) (Figure 1), where recent exploration has identified extensive copper mineralization at surface and where the Company expects to finalize drill targets by year end.
The Yanba acquisition was completed following completion of an extensive regional stream sediment survey, screening approximately 200 km2. The area was selected for staking due to consistent copper anomalies and geological similarities to the nearby Lacsha project.
Figure 1. Map showing the newly acquired Yanba copper project together with the extents of the regional stream sediment survey, which identified the target area. The map also shows the location of the Company’s Lacsha copper project as well as land positions controlled by Newmont, Hochschild and others.
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“We are delighted to expand our land position in this key portion of Peru’s Coastal Copper Belt.” stated Keith Henderson, President and CEO, “We acquired the Lacsha copper project in 2020 following completion of a stream sediment survey in the area, and subsequent work there has resulted in the discovery of significant copper mineralization at surface. At Yanba, we have not deviated from this methodology – we screened 200km2 with geochemistry and the results pointed to a core area of copper anomalies, which we have now acquired.”
Mr. Henderson continued, “We are using these regional screening tools to identify areas that we can acquire 100% through low-cost claim staking and we will continue to stake new projects when the results of regional exploration are positive. In doing so we maintain a healthy pipeline of projects on which we can complete initial exploration before seeking joint venture partners.”
Yanba Stream Sediment Survey
The Company has completed a stream sediment survey covering 200 km2 with 35 samples. Copper values range from 28 ppm to 139 ppm, with anomalies across 7 contiguous catchments and anomalous areas being 3 times higher than background. This geochemical anomalism drove the prioritization of this area, together with geological similarities to Lacsha.
Next Steps
Latin Metals is currently in discussions with the single local community who hold the surface rights, following which the Company expects to begin systematic surface exploration. As was the case at Lacsha, a talus survey program will be the first pass to identify the highest priority targets.
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, Yanba copper-molybdenum, and Auquis copper-gold projects are all located in the northern Lima-Ica portion of the coastal belt.
Source: Company Press Release