VANCOUVER, British Columbia, April 01, 2026 – Latin Metals Inc., trading as TSXV: LMS and OTCQB: LMSQF, has announced a significant update on the expanded Cerro Bayo drill program in Santa Cruz Province, Argentina. The company received this progress report from its partner, Daura Gold Corp., which is fully funding all exploration activities at the project.
Drilling Progress and Partner Funding
Keith Henderson, President and CEO of Latin Metals, emphasized the positive developments, stating, "Since announcing the start of drilling earlier this year, Daura has made excellent progress at Cerro Bayo, with multiple targets being tested and additional step-back drilling now underway." He highlighted that this work is entirely funded by Daura, allowing Latin Metals to advance a high-quality project while maintaining capital discipline. Daura holds the right to earn up to 80% interest in the Cerro Bayo and La Flora projects through staged cash payments and exploration expenditures.
Phase One Drilling Details
The Phase One drill program, which commenced on February 17, 2026, is progressing well, with 14 diamond drill holes completed across 10 distinct targets. Drilling has advanced beyond initial target testing, with step-back holes currently underway at the Ingrid, Elena, and Eugenia target areas. Each of these zones represents a unique part of a broader mineralized system, and drilling continues on schedule across multiple targets, expected to inform subsequent exploration phases.
Assays and Near-Term Catalysts
Assay results from the initial 14 drill holes are anticipated within the next 4 to 6 weeks and will be reported as they become available. This drill program marks the first direct test of multiple targets across the Cerro Bayo project, offering crucial insights into the presence, continuity, and grade potential of mineralization. To date, five targets are being tested by Daura's initial drill program, with the results poised to be a key catalyst for future exploration efforts.
Strategic Importance of Cerro Bayo
The Cerro Bayo project is situated within the Deseado Massif, a prolific epithermal precious metals district that has produced over 600 million ounces of silver and approximately 20 million ounces of gold since 1990. The project hosts multiple low-sulfidation epithermal vein targets, defined through comprehensive geochemistry, mapping, and geophysics, with characteristics consistent with high-grade deposits found elsewhere in the district.
The current drill program represents the first systematic testing of multiple priority targets across this district-scale mineralized system, marking a significant step in advancing the project toward potential discovery. With assays expected soon, Latin Metals is entering a critical phase of the program, eagerly awaiting results that could shape the future of exploration at Cerro Bayo.
