Thursday, 17 May 2012

Latin American Minerals starts new drill campaign at Tacuru target

Latin American Minerals (CVE:LAT) Wednesday initiated a second drill campaign at the Tacuru gold target on its Paso Yobai property, in Asuncion, Paraguay.
The Tacuru target is the first gold soil anomaly drilled on the 14.8 kilometre-long X-Mile gold trend at the company's Paso Yobai property.
The company also announced the start of a second operating shift at the Independencia mine pilot plant, which also forms part of the Paso Yobai gold project.
In early March, the gold explorer unveiled assay results from the first five diamond drill holes located within the Tacuru gold target on the X-Mile trend.
Assay results revealed 4.09 grams per tonne (g/t) of gold over a 25.5 metre intersection in drill hole DDH- LAT-BT-02. The first drill campaign, the company said, found a new mineralization style characterized by high-grade fine gold disseminated in sandstones.
The company said it resumed drilling on May 8, following new trenching at the site.
Latin American's second program aims to delineate mineralization along the trend, drilling at step-out intervals of 40 metres.
"We are eager for this second round of drilling at Tacuru after the excellent initial results," said CEO Miles Rideout.
"The new style of Tacuru mineralization adds to our geological insight, information we'll continue to exploit in future targeting."
"We are also pleased that the pilot plant is now routinely exceeding 90% of the designed capacity of 5 tonnes per hour.
"We have observed a steady improvement in production as our plant technicians have learned to optimise flow rates and process cycles."
With the plant operation well in hand, the company said it has prepared a second operating shift for the Independencia Mine concentrator plant, which speeds development.
The second operating shift at the concentrator plant, where it is bulk sampling on the Discovery Trend, became effective on May 9.
By open-pit excavation to 20 metres depth along the Discovery Trend, the company expects to expose and bulk sample the gold-mineralized lenses and ore shoots.
Recovered mineralization will be processed at the pilot plant using gravitational concentrators and then smelted into gold dore.
"Any net revenues realized from these operations will subsidize continued drilling at our pending gold targets," Rideout continued.
In addition to the Paso Yobai project, the company's Itapoty diamond project and Chiriguelo rare earths-niobium property are also located in Paraguay.

No comments:

Post a Comment