Latin American Minerals has launched a 10,000m drill program to further explore the 6 prominent gold targets on its 15,020ha, Paso Yobai gold property in Paraguay.
Six prominent gold targets
95sq km surface gold anomaly
18,000 point soil survey and 106 kms of CSAMT geophysics
Extensive expert review
Company owned and operated drill
Previous drilling completed in 2012 (see press release dated July 24 2012) included the following highlights:
-true width 22.0 m with 4.20 gpt gold including 5.69 m with 11.24 gpt, beginning at surface;
-true width 2.13 m with 94.6 gpt gold including 0.7 m with 271.2 gpt at 34.6. m vertical depth; and
-true width 2.7 m with 107.7 gpt gold including 0.47 m with 611.07 gpt at 83.3 m vertical depth.
The current drill program has begun with a single rig, owned by the company and operated by a seasoned driller who is a LAT employee and is fluent in Spanish The driller has worked in South and North America, including Ecuador, Peru, Guatemala, Chile, Panama and Argentina.
Technical advice on the drill program is being provided by Dr Quinton Hennigh, a world renowned economic geologist with more than 25 years of practical experience with similar gold systems. (See press release dated 22nd August 2016.) Paul Sarjeant, P Geo, the Company's Qualified Person is also on site providing direct input into the program. Mr Sarjeant has more than 25 years of experience managing mineral exploration and development projects around the world.
Basil Botha, Chairman and CEO said; "We have hired the best minds in the industry to independently review the extensive geophysical, geological and geochemical data resulting from the work completed to date at Paso Yobai. This analysis has resulted in the current drill program, which will focus on the six large surface gold targets and geophysical anomalies that we want to better understand at this time. All indications are that this is a large alkaline gold system. This first round of drilling will help us prioritize each target and determine where to focus attention for the next phase of exploration. Running our own drill with a seasoned driller will dramatically reduce our drilling costs."
LAT's Paso Yobai Project, includes the fully permitted and producing Independencia Mine at the southern end of the Paso Yobai property.