- Latin Metals Inc. (TSXV:LMS) announced rock sampling results from its 100 per cent owned Auquis project in Peru
- A total of 234 rock chip samples were collected to follow up on anomalous soil samples that were previously collected
- The samples had values of up to 4.74 per cent copper and 236 ppm molybdenum
- Mean values from the 234 samples are 0.10 per cent copper and 5ppm molybdenum
- The company said other areas of the property remain open for exploration
- Shares of Latin Metals are up 43.75 per cent on Wednesday to C$0.12 as of 11:08 a.m. EDT
Latin Metals (LMS) announced rock sampling results from its 100 per cent owned Auquis project in Peru.
In total, 234 rock chip samples were collected in order to follow up on anomalous soil samples that were previously collected.
The company said the samples had values of up to 4.74 per cent copper and 236 ppm molybdenum, while mean values were 0.10 per cent copper and 5ppm molybdenum.
“Our recent follow-up sampling program has outlined a large 1km x 1km area of consistent mineralization where 101 samples returned copper values of up to 2.37 per cent copper and 236 ppm molybdenum, with a mean value of 0.13 per cent copper and 6.4 ppm molybdenum,” Keith Henderson, CEO of Latin Metals, said in a press release.
“We are very excited about these initial results, with many areas of this large 4,000 hectare property still unsampled.”
Latin Metals explained that the area is also characterized by multiple phases of intrusive rocks that contain porphyritic textures and copper oxide mineralization.
Moving forward, the company said other areas of the property remain open for exploration, which menas Latin Metals will eextend the sampling program.
The company also said next steps will include a property-wide rock chip sampling and geological mapping program to define the area for an initial ground magnetic survey.
Following the announcement, shares of Latin Metals were up 43.5 per cent to C$0.12 as of 11:08 a.m. EDT on Wednesday.