Latin Metals Receives Positive Results from Airborne Magnetic and Radiometric Survey, Organullo Project, Argentina

VANCOUVER, British Columbia, May 06, 2024 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) provides an update from its 100% owned Organullo Project (“Organullo” or the “Project”) where an existing option agreement with AngloGold Argentina Exploraciones S.A. (“AngloGold”), a wholly owned subsidiary of AngloGold Ashanti plc. (NYSE: AU, JSE: ANG) provides AngloGold with an option to earn up to an 80% interest in the Project. The Company has received data from AngloGold’s previously completed airborne magnetic and radiometric geophysical survey, which defines a high priority structural corridor for drill testing in the priority West Graben.

Figure 1: Map showing Total magnetic Intensity (Reduced to Pole) over the Organullo and
Ana Maria properties. Historical drilling and AngloGold’s planned drilling also shown,
together with the location of the Cross Section included as Figure 2.

Figure 2: Schematic cross section through the Organullo Graben showing advanced
argillic alteration being constrained within the West Graben by the Medial Fault

Prior to initiating the airborne magnetic and radiometric survey, AngloGold completed mapping and sampling at Organullo to define three drill target areas with high-temperature advanced argillic alteration extending over a strike length of more than 6km.

The Organullo project is transected by a north-northeast-trending large-scale graben, which measures 5km across. The graben itself is displaced by the Medial Fault which divides the graben into West Graben and East Graben (Figure 1).

The eastern portion of the graben is where all the historical exploration has been undertaken, in close proximity to the historical Julio Verne Mine. This side of the graben is typified by strong but peripheral phyllic alteration and underground mining at Julio Verne mine focused on high-grade veins. Results from historical drilling around the mine highlights moderate, bulk-tonnage grade gold mineralization with occasional high-grade veins.

The western portion of the graben has been largely ignored by at least eight previous operators who were focused on the vicinity of the Julio Verne mine. AngloGold took a different and holistic approach to the property and, for the first time identified intense, proximal, advanced argillic alteration in volcanic rocks and breccias pipes located within the West Graben. This geological environment is prospective for porphyry copper-gold and high-sulphidation epithermal gold deposits, and it has never been tested by drilling.