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LATIN GOLD LIMITED - ASX: LAT
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Description
Latin Gold Limited ("Latin Gold") is an ASX listed company pursuing primarily gold but also base metal resource development opportunities in South America. Latin Gold is currently exploring the Paron gold project in Ancash Department Peru.
Latin Gold has been active in Latin America since 2003 and is based from an operations view point in Peru with its main office in Miraflores in Lima and a field office at the Paron project near the town of Caraz, which is 448 kilometers from Lima and 16 kilometers from the Paron gold project. The company maintains a corporate office in Perth, Western Australia.
Paron Gold Project - Peru
The Paron gold project, based on estimations completed in 1994 and 1996 has an existing gold resource of between 200,000 and 250,000 ozs grading around 3g/t Au with Ag credits of +8 g/t. A large proportion of the resource outcrops and consequently the strip ratio in any mining operation is expected to be negligible.
A study undertaken by Barrick Mines in 2000 determined that the known mineralisation at Paron has a global resource potential of 2,390,000 ozs at a grade of 1.1 g/t. This study suggested that the grade had the potential to be higher than 1.1g/t with better drill sample recovery.
The mineralisation at Paron is low sulphidation epithermal in origin, and based on 5 samples metallurgically tested to date, leaches in conventional circuits with recoveries of +88% in fresh rock.
Latin Gold have an option to purchase 100% of the project, including a royalty, with total payments of $US1.9 million ($US9.50/oz under the current base case resource estimate).
The project has had limited regional exploration and in the view of Latin Gold presents an excellent opportunity for a substantial increase in resources through the discovery of both primary and structural repetitions to the existing mineralisation.
At the same time the project represents an unparalleled opportunity for Latin Gold to fast track the potential development of the existing 200,000 – 250,000 oz gold resource.
Coyhaique Project
* Gold - silver mineralization, with identified economic development potential, has been partly explored within the Coyhaique Project of Latin Gold Limited.
* The Project comprises exploration rights over an area of 19,690 hectares in which Latin Gold Limited holds a 100% interest.
* A strategic operating partner was sought to further develop the Project.
* Patagonian Gold S.A was chosen as partner after extensive and keenly bid process in early 2003.
* The Project concessions are located 15 kilometres east of Coyhaique in Region XI, southern Chile. Access and infrastructure are excellent.
* The Patagonia region of Chile and Argentina is host to numerous gold - silver resources, with mineralization similar in style to that observed within the Project. These include Anglo Gold's Cerro Vanguardia Mine (13 Mt @ 8.88 g/t Au and 106 g/t Ag), and Silver Standard's Manantial Espejo (4.4 Mt @ 4.51 g/t Au and 264 g/t Ag) project. Meridian Gold's Esquel Project (15.6 Mt @ 7.16 g/t Au and 12.8 g/t Ag) is located 300 kilometres to the north of the Patagonia Project, and Coeur d'Alene's Fachinal (4.1 Mt @ 2.37 g/t Au and 110 g/t Ag) and Cerro Bayo (660,000 gold equivalent oz) mines are located about 100 kilometres to the south.
* The Patagonia Project property has been subjected to reconnaissance geological mapping and sampling, limited trenching, and localised drilling. Airborne geophysical data is also available for the area.
* The currently identified mineralized system within the property is of district scale with a strike dimension of approximately 30 kilometres and ranging between 4 and 12 kilometres in width.
* Fifteen principal zones of gold - silver mineralization have been identified to-date. These zones have been traced over a cumulative strike extent exceeding 22 kilometres. The mineralization occurs in massive veins and stockwork zones.
* The stockwork zones are characterized by native Au and electrum with very few associated sulphides. The grade is a function of veinlet density.
* In the vein systems the Au and electrum occur associated with pyrite, base and precious metal sulphides. The grade is a function of the abundance of sulphides.
* A recent review and report on the geology and mineralization has been completed for Latin Gold Limited by Natural Resource Consultants (International) Limited and Orogen Geoscience Ltda. This report can be found on the attached CD. The report highlights the potential of the property to host "bonanza-grade" gold - silver mineralization within the vein systems and lower grade mineralization of greater dimension within the stockwork zones. It recommends that a detailed, sustained and co-ordinated medium term exploration program be designed and implemented, leading to the completion of a bankable feasibility study if appropriate.
Mine For
gold, silver
Location of operation(s)
Peru, Patagonia
Address
103 Abernethy Road
BELMONT, WA, AUSTRALIA
Phone
(08) 9277 9489
Website
Last Updated
23/03/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
