Head South for Copper - Gold Gains in ‘23

Prospect generator Latin Metals Inc. (TSX-V: LMS)(OTC: LMSQF) — currently trading around C$0.28 per share — has announced the discovery of two zones of high-grade copper mineralization at its 100%-owned Para project, located in Peru’s Coastal Copper Belt. 

The zones were delineated from an initial sampling program of talus material for a total of 56 geochemical samples. Anomalous copper analysis ranged from 251 ppm to a peak of 1,505 ppm copper with supporting molybdenum mineralization up to 46 ppm. 

Head South for Copper-Gold Gains in ‘23.

The largest zone came in at approximately 2,000 x 1,000 meters with geochemical anomalies open to the northwest wherein the company has subsequently staked an additional 1,300 hectares in that direction for a total of 1,900 hectares.

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Latin Metals Inc.announced the discovery of two zones of high-grade copper mineralization

Next steps for the Para project include extending the talus survey to include the newly staked land followed by a program of detailed rock chip sampling and geological mapping with additional surveys slated for Q2.

Latin Metals operates as a prospect generator whereby, upon the acquisition of a mineral property, will typically complete the initial surface work at a minimal cost leading to the first set of drill targets wherein it can then go out and attract a potential joint venture partner to further advance the project. 

The JV partner then funds the cost of exploration going forward, including the very expensive business of drilling. For its part, Latin Metals receives cash while also retaining a minority interest in the properties it options out, allowing it to have exposure to multiple projects across a variety of metals at any given time. 

In essence, the idea is to have multiple shots-on-goal via a wide portfolio of exploration projects at various stages of development without diluting shareholders. With the vast majority of exploration expenditures on other peoples’ dimes, the company is able to attract increasing levels of investment capital in the projects it options out — all at a minimal burn rate. 

In addition to the aforementioned Para copper project in Peru, Latin Metals, in 2022, optioned out its Cerro Bayo gold-silver project in Argentina to Barrick Gold (NYSE: GOLD) and its Organullo gold-copper project, also in Argentina, to AngloGold Ashanti (NYSE: AU) with both majors set to spend significant capital on exploration and drilling in the coming quarters on their respective projects.

Latin Metals, in 2022, optioned out its Cerro Bayo gold-silver project in Argentina

Worth noting, Barrick and AngloGold — being two of the largest gold companies in the world — typically do not do a lot of joint ventures with juniors and aren’t interested in smallish deposits. Hence, it is a testament to the quality of Latin Metals’ projects to be able to secure partnerships with global producers of such magnitude. 

Additionally, and on top of an impressive portfolio that includes more than a dozen other Latin America-based mineral projects plus one royalty, Latin Metals has optioned out its Esperanza copper-gold project in Argentina to fellow junior miner Libero Copper & Gold (TSX-V: LBC)(OTC: LBCMF)

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With the incredible number of projects in the LMS portfolio and the amount of exploration and drilling forthcoming, Latin Metals expects to have around 30 to 35 news releases this year alone. The company anticipates upward of C$30 million being spent on its properties over the next few years at a current burn rate of only around C$1.5 million per year.    

In addition to seeking out joint venture partners for its other projects, the company, which has a current market cap below C$20 million, is continuously on the acquisition hunt for new mineral properties with robust geological prospectivity. 

So lots to look forward to in 2023 and beyond for current and potential LMS shareholders.

Our own Gerardo Del Real of Junior Resource Monthly caught up with Latin Metals director of corporate communications Elyssia Patterson to go over the many catalysts upcoming in 2023 for the company including drilling by partners Barrick Gold and AngloGold Ashanti in Argentina. Please enjoy!

For more information on Vancouver-based Latin Metals, be sure to contact Ms. Patterson at the company’s IR department at 604-638-3456 or via email at info@latin-metals.com. 

You can also sign up to receive updates directly from the company here and be sure to register for the company’s live webinar, which is taking place on Thursday, February 16th at 10AM Pacific.

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest