VANCOUVER, British Columbia — Latin Metals Inc. (TSXV: LMS, OTCQB: LMSQF) has announced initial drill results from the partner-funded Phase I drill program at the Cerro Bayo Project in Santa Cruz Province, Argentina. The program, conducted by Daura Gold Corp., successfully intersected multiple zones of gold and silver mineralization across several target areas.
High-Grade Intercepts
The initial 1,850-metre drill program returned high-grade intervals including up to 8.83 g/t gold and 739 g/t silver. These results confirm the presence of a large, fertile low-sulphidation epithermal system within the Deseado Massif, one of the world's premier silver-gold districts.
Key Drill Highlights
- Drill Hole CBD26-001: 16.35m at 0.37 g/t gold and 88.96 g/t silver from 28.85m (1.72 g/t gold equivalent), including 3.60m at 1.43 g/t gold and 321.7 g/t silver (6.3 g/t gold equivalent).
- Drill Hole CBD26-005: 15.00m at 0.07 g/t gold and 120.8 g/t silver from 58.7m (1.90 g/t gold equivalent), including 2.00m at 0.11 g/t gold and 427.4 g/t silver (6.6 g/t gold equivalent), and 1.70m at 0.16 g/t gold and 120.72 g/t silver (2.0 g/t gold equivalent); also 3.60m at 0.18 g/t gold and 389.8 g/t silver from 86.4m (6.08 g/t gold equivalent), including 1.80m at 0.33 g/t gold and 739.53 g/t silver (11.53 g/t gold equivalent).
- Drill Hole CBD26-012: 11.95m at 2.0 g/t gold and 6.8 g/t silver from 11.45m (2.1 g/t gold equivalent), including 1.95m at 8.83 g/t gold and 18.86 g/t silver (9.1 g/t gold equivalent).
Gold equivalent calculations used a silver conversion factor of 66:1, assuming 80% silver recovery and 100% gold recovery. Intersection lengths are core lengths; true widths are not yet determined due to the early stage of exploration.
Significance of Results
Drilling intersected broad zones of silver mineralization beginning at surface in multiple holes, highlighting the scale and strength of the hydrothermal system. Near-surface mineralization suggests potential for broader bulk-tonnage zones surrounding higher-grade feeder structures. The first systematic drill campaign on the property indicates Cerro Bayo may host a district-scale hydrothermal system.
Management Commentary
Stuart Mills, Daura's VP Exploration, stated: "Daura's strategy has been to drill early while continuing to systematically refine and generate new targets across the district. Drilling successfully intersected low sulphidation epithermal veins and breccias associated with higher-grade gold and silver intervals across multiple target areas, confirming several key aspects of our geological model. Importantly, the scale and continuity of mineralization encountered suggest we are vectoring into a well-developed hydrothermal system, significantly enhancing our confidence in the broader discovery potential at Cerro Bayo."
