Latin American Minerals Receives Heap-Leach Permit for Expanded Gold Production
28 Februar 2014 - 2:22PM
Marketwired Canada
Latin American Minerals Inc. (TSX VENTURE:LAT)(OTCQX:LATNF) (the "Company") has
received an expanded environmental permit authorizing heap-leach gold extraction
at its Independencia Mine, part of the Company's Paso Yobai gold project located
in Paraguay.
Miles Rideout, President and CEO stated, "The timely receipt of this permit
confirms the commitment and support by the local government to advance our
landmark project. With plans for immediate construction, the heap leach
expansion is a key step to augment cash flow to fund the Company's top focus,
drill testing the project's seven additional target areas for high grade feeder
zones."
The Company is initially planning construction of four heap-leach pads with
18,000 tonnes total capacity. Current assayed stockpiles total 140,000 tonnes at
0.6 - 0.8 g/t gold, sufficient for 18 months of heap leach operation. Ongoing
pit extraction is expected to replenish existing stockpiles.
The anticipated heap-leach circuit will operate concurrently with the high-grade
bulk sampling concentrator plant and is expected to supplement existing cash
flow. The Company observes that an independent feasibility study has not been
completed and is required to advise the reader that there is no certainty the
proposed operations will be economically viable.
Open pit operations began at Paso Yobai in February 2012 with the goal of
exposing, mapping and sampling 2,700 metres of vein-hosted gold mineralization
within the Independencia Mine land concession. Trenching and drilling along the
mineralized shoots have confirmed high-grade gold mineralization from near
surface to depths exceeding 150 metres. As part of this exploration strategy,
the high-grade vein material has been processed through the on-site gravity
concentrator plant and the enveloping lower grade material has been assayed and
stockpiled in preparation for low-cost heap leach processing.
About the Company:
Latin American Minerals Inc. is a mineral exploration company with its flagship
Paso Yobai property located in eastern Paraguay, an emerging gold region. Paso
Yobai hosts a large epithermal gold footprint on two parallel gold trends,
namely the 10 km Discovery Trend and 14.8 km X-Mile Trend.
The Company holds a 100% interest in an on-site concentrator plant (mill) at the
fully permitted Independencia Mine at Paso Yobai. In operation since 2012, the
plant continues to provide vital information on the grade, mineralogy and
metallurgical characteristics of the Paso Yobai mineralization through
self-funded operation.
The Company holds 100% of the adjacent Paso Yobai X-Mile Trend exploration
concessions, the present exploration focus. The Company also holds 100%
interests in highly prospective diamond, REE, niobium and green-fields gold
projects in Paraguay and base metals projects in Argentina.
The Company's public documents may be accessed at www.sedar.com.
For further information, please visit our website at
www.latinamericanminerals.com or email us at
information@latinamericanminerals.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this news release.
This news release includes certain forward-looking statements concerning the
future performance of our business, its operations and its financial performance
and condition, as well as management's objectives, strategies, beliefs and
intentions. Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and
similar words referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative nature of
mineral exploration and development, fluctuating commodity prices, competitive
risks and the availability of financing, as described in more detail in our
recent securities filings available at www.sedar.com. Actual events or results
may differ materially from those projected in the forward looking-statements and
we caution against placing undue reliance thereon. We assume no obligation to
revise or update these forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Latin American Minerals Inc.
Miles Rideout
President and CEO
(1-416) 902-8558
information@latinamericanminerals.com
www.latinamericanminerals.com
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