Categories: Mining Stocks
Topics: Copper Stocks

Copper Discovery in South America

Prospect generator Latin Metals Inc. (TSX-V: LMS)(OTC: LMSQF) — currently trading around C$0.16 per share — has announced the completion of a ground magnetic survey at its 100%-owned Auquis copper-molybdenum project located in southwestern Peru. 

The survey identified significant anomalies adjacent to and underlying mapped zones of porphyry and skarn mineralization where surface sampling produced assays up to 2.8% copper and 9.3% zinc. 

Latin Metals CEO Keith Henderson commented via press release:

“We are very pleased with progress at Auquis where our exploration so far is showing all the signs of hosting a large and robust hydrothermal porphyry and skarn system. Results of the magnetic survey will be combined with ongoing mapping, sampling and geophysical surveys to better define mineralized zones and define drill targets.”

Three zones of mineralization have been identified (see below): Rose, Blanco, and Tinto.

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Positive progress at Auquis where our exploration so far is showing all the signs of hosting a large and robust hydrothermal porphyry and skarn system.

Next steps at Auquis — which is situated within Peru’s prolific Coastal Copper Belt — will include additional surface exploration as well as geochemical and geophysical (IP) surveys to further define alteration and mineralization trends at each target area.

Next steps at Auquis — which is situated within Peru’s prolific Coastal Copper Belt — will include additional surface exploration.

As an active prospect generator, the LMS team will also begin the process of seeking a joint venture partner for the further advancement of the project. 

Latin Metals — which boasts an impressive portfolio of fifteen early-stage exploration projects — commenced its first exploration activities in Peru back in 2019 and has since completed the acquisition of a number of 100%-owned copper-dominant exploration projects, including Auquis, meriting further advancement. 

Latin Metals — which boasts an impressive portfolio of fifteen early-stage exploration projects — commenced its first exploration activities in Peru back in 2019.

The main geologic focus area for LMS in Peru is the aforementioned Coastal Copper Belt — a north-south trending belt that has produced numerous significant metals discoveries over the last 15 years across a variety of favorable deposit types including porphyry, epithermal, VMS (volcanic massive-sulfide), and IOCG (iron oxide copper gold).

The second focus area for Latin Metals in South America is Argentina where the company is advancing its co-flagship Organullo and Cerro Bayo projects, which are being advanced under definitive option agreements with majors AngloGold Ashanti and Barrick Gold, respectively. 

AngloGold Ashanti (NYSE: AU) has commenced exploration at the Organullo gold-copper project with Latin Metals expecting to receive initial exploration results soon. AngloGold’s 2023 exploration agenda for Organullo includes 7,000 meters of Phase-1 drilling to be completed via two drill rigs subject to permitting approval. 

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Barrick Gold (NYSE: GOLD) has completed a substantial amount of surface exploration at the Cerro Bayo gold-silver project, including a 1,000-line-km ground magnetic survey, geological mapping, rock sampling, and spectral analysis. 

Upcoming exploration activities at Cerro Bayo will include efforts to hone in on the below-ground source, or “feeder zones” to the near-surface mineralization that’s systematically being mapped out at the property. 

Additionally, LMS has optioned its Esperanza copper-gold project, also in Argentina, to Libero Copper & Gold (TSX-V: LBC). Libero has submitted an EIA to provincial authorities for planned exploration activities at the drill-ready project.

Copper Discovery in South America.

In all, Latin Metals could see partner-funded drilling at Orgunullo, Cerro Bayo, and Esperanza before year end… which means lots and lots of news flow ahead.  

Our own Gerardo Del Real of Junior Resource Monthly caught up with Latin Metals director of corporate communications Elyssia Patterson to go over the mag survey results from Auquis, plus a look at the company’s flagship partner-funded projects in Argentina. Please enjoy!

For more information on Vancouver-based Latin Metals, be sure to contact Ms. Elyssia Patterson at the company’s IR department at 604-638-3456 or via email at info@latin-metals.com and sign up to receive updates directly from the company here.

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest