- Latin Metals (LMS) provided an update on exploration at the Cerro Bayo project in Argentina
- Cerro Bayo is subject to an earn-in agreement with a wholly-owned subsidiary of Barrick Gold Corp. (ABX), which has the right to acquire up to an 85 per cent interest in the project
- A total of 729 rock chip samples have been taken to date, and the sampling has been completed across the entire Cerro Bayo property, with results pending on 159 samples
- Latin Metals Inc. (LMS) is up 4 per cent, trading at C$0.13 per share as of 10:20 am ET
Latin Metals (LMS) provided an update on exploration at the Cerro Bayo project in Argentina.
Cerro Bayo is subject to an earn-in agreement with a wholly-owned subsidiary of Barrick Gold Corp. (ABX). Under the terms of the earn-in agreement, Barrick has the right to acquire up to an 85 per cent interest in the project.
A total of 729 rock chip samples have been taken to date, and the sampling has been completed across the entire Cerro Bayo property, with results pending on 159 samples. Top-5 per cent of silver and gold samples received to date have been used to highlight the most anomalous areas at Cerro Bayo.
The ground magnetic survey covered 95 per cent of the property and confirmed an important property-wide northwest trending structural fabric, which is potentially favourable to hosting gold and silver mineralization.
Geological mapping of the property has been carried out at a scale of 1:10,000, and more detailed district-scale alteration mapping is in progress, supported by spectrometry data collection.
Cerro Bayo is located in the west part of the Deseado Massif, an exposed block of Mesozoic volcanic rocks that host low- to intermediate-sulfidation style gold and silver epithermal systems where several mines operate.
Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America.
Latin Metals Inc. (LMS) is up 4 per cent, trading at C$0.13 per share as of 10:20 am ET.