Latin American Minerals (CVE:LAT)(OTCQX:LATNF) unveiled Tuesday drill results from its Tacuru target, part of the X-Mile gold trend at Paso Yobai in Paraguay.
holes totalling 1,712 metres have been drilled at the Tacuru target to
date, all of which intersected gold mineralization, the company said.
Shares rallied 7.7 per cent to 14 cents Tuesday Morning.
from the most recent drilling results include 22.0 metres at 4.2 grams
per tonne (g/t) gold, including 5.69 metres of 11.24 g/t beginning at
surface in hole DDH-BT-08.
Also in this hole, 2.13 metres was
interesected at 94.6 g/t gold, including 0.7 metres with 271.2 g/t gold
at 34.6 metres vertical depth, and 2.7 metres with 107.7 g/t gold
including 0.47 metres at 611.07 g/t gold at 83.3 metres vertical depth.
from the first five drill holes were announced in March, with final
results announced today following the receipt of new fire screen assay
Some of these notable results included 20.88
metres at 4.09 g/t gold beginning at surface, including 3.77 metres at
16.19 g/t gold at 4.9 metres vertical depth in hole DDH-BT-02.
is a target area with a prominent surface gold soil anomaly of 700
metres in diameter, initially explored with a reconnaissance trench that
showed 3.8 g/t gold over 30.55 metres.
"The Tacuru target is
now validated as a major epithermal system with significant gold
occurrences identified in several geological rock types," said president
and CEO Miles Rideout.
"These results are impressive both for
the high grades and that we continue to intersect gold mineralization
from surface to 115 metres true depth.
"Expanded and deeper drilling will be required to fully evaluate this target."
12 drill holes in Tacuru's drill program to date were penetrated to a
vertical depth of approximately 120 metres, and have "tentatively
defined" four types of gold mineralization, the company said.
include disseminated bulk tonnage gold mineralization near surface
ranging from around 1 to 4 g/t, higher grade gold mineralization in
kaolinized sandstones, high grade gold in a horizontal 25 metre thick
basalt, and low grade gold mineralization hosted in a shale unit.
The Tacuru target is currently the most advanced exploration area on the 14.8 kilometre long X-Mile Trend, Latin American said.
X-Mile Trend runs parallel to the 4.5 kilometre Discovery Trend, where
the company has constructed its Independencia Mine pilot operation.
trends, separated by 3.5 kilometres, and other outlying target areas,
suggest an epithermal mineralizing system approaching 100 square
kilometre area, the miner noted.
The company is
operating the Independencia Mine pilot plant on its 99%-owned mining
concession, part of the company's larger Paso Yobai gold project.
X-Mile Trend at Paso Yobai is located on exploration licences that are
100 per cent owned by Latin America. The results of its 2011 work to
define drill targets suggest that bulk tonnage potential could exist at
several target zones along the extensive structure, the company said.