Latin Metals Posts High-Grade Gold, Silver Intercepts From Cerro Bayo Project
Latin Metals (LMS.V) reported initial results from the partner-funded Phase I drill program completed by Daura Gold at the Cerro Bayo project in Argentina, the company said Thursday.The program intersected multiple zones of gold and silver mineralization across several target areas, including high-grade intervals grading up to 8.83 grams per tonne gold and 739 g/t silver.The results confirm the presence of a large, fertile low-sulphidation epithermal system within the Deseado Massif, a major silver-gold district.Drilling intersected broad zones of silver mineralization beginning at surface in multiple holes, highlighting the scale and strength of the hydrothermal system at Cerro Bayo. The results suggest that Cerro Bayo could host a district-scale hydrothermal system.Daura is planning a Phase II drill program in the third quarter, expanding exploration across both Cerro Bayo and La Flora.Under the terms of an option agreement, Daura may earn up to a 75% interest in the project, or 80% with a top-up right, by completing staged exploration, including payments of US$1.7 million to Latin Metals, payments of US$400,000 to the underlying vendor, completion of exploration work commitments including 28,000 m of drilling, and the preparation of a technical report containing a mineral resource estimate.Price: $0.23, Change: $-0.01, Percent Change: -2.17%
