Latin American Minerals Inc.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 357 Bay Street, Suite 602 Toronto, Ontario Canada M5H 2T7 |
| Tel No.: | (416) 363-0841 |
| Fax No.: | (416) 363-0585 |
| Web Site: | www.latinamericanminerals.com |
| Corporate Email: | information@latinamericanminerals.com |
| Contact Person: | David Wahl Jr. |
| Position: | Manager, Investor Services |
| Traded Market: | TSX-V |
| Traded Symbol: | LAT |
| Outstanding Shares: | 44,106,375 |
| 52 Week High: | $ 1.30 |
| 52 Week Low: | $ 0.30 |
| Present Price: | Click Here |
INTRODUCTION
Latin American Minerals Inc is a mineral exploration company focused on the acquisition and development of base and precious metals projects in under-explored but highly prospective countries of Lain America.
PROJECT IN HAND
(1) Paso Yobai Epithermal Gold Project, Paraguay
The Paso Yohai gold project is located in southeastern Paraguay, approximately 150 km east of Asuncion, the capital of Paraguay. Paso Yobai is an emerging gold camp discovered by local prospectors in 1996. The Company has the right to earn 70% interest in the Project which covers a total of 22,266 hectares.
The gold at Paso Yobai Project is hosted in NW oriented mafic dykes, which can be traced for approximately 10 km. Native gold is strikingly common in numerous quartz-carbonate-pyrite-manganese veins in and adjacent to the mafic dykes. The mineralized zone varies from 0.5 m to 12 m wide. A single dyke can contain several gold bearing zones. Gold can be traced continuously on surface for 3.7 km, discovered in artisanal pits that range from 1 to 20 m deep. Chip samples from the mineralized veins exposed in the pits assayed up to 99 gpt gold across 0.6 m.
A total of 2,000 m in 12 holes have been drilled out of an on going 5,000 m drill program. Visible gold was found in 3 holes. Hole DDH-LAT-11 returns 6.5 m with 26.64 gpt gold including 4 m with 43.08 gpt gold.
Soil geochemical results from over 8,000 samples outlined a large gold soil anomaly measuring approximately 200 m wide and 6,400 m long containing gold values ranging from 0.05 gpt to 1.0 gpt. The Company also completed a helicopter-borne magnetometer and electromagnetic survey consisting of approximately 3,500 line-kilometres which identified a 9 km long anomalous magnetic feature, which is coincident with the known gold bearing zone. The gold bearing system is open in NW and SE direction and drilling is continuing in the property. The Company estimates that the ongoing 5,000 m diamond drilling program will be completed by late March.
(2) Rio Tendal Massive Sulphides (Copper, Lead, Zinc, Silver) Project, Argentina
The Company owns 100% of the Rio Tendal Project, which consists of 6 mining concessions, covering 36,488 hectares and 4 small mining clams covering 36 hectares located inside the Company's mining concessions. The Project area includes the historic Verdiona, La Estrella and Yegua Pircada mining camps. Five of the historic mines have been acquired by the Company including Yegua Pircada (18 hectares, Pb), Verdiona (6 hectares, Cu), Estrella Primera (6 hectares, Cu) and Estrella Alta (6 hectares, Cu). Teck-Cominco owns 5 small mining claims, covering a total of 114 hectares inside the Company's mining concession.
The Project is located in northwestern Argentina in the Province of La Rioja at an elevation of 3,000 m. The Company recently completed an all season gravel road to the Property and constructed a modern exploration camp to support ongoing exploration on the project. The Company commenced a 5,000 m diamond drill program to test all massive sulphide targets in February.
(3) La Carolina Epithermal Gold and Base Metals Project, Argentina
La Carolina Project is located in west-central Argentina, 850 km northwest of Buenos Aires, the capital of Argentina. Mining in the area dates back to the late 1800's when gold and base metals were produced at the Esperanza Mine on the southwest edge of the property, together with some small placer gold operations. Mining rights consists of 13 granted claims covering 2,024 hectares and 4 claims covering 4,601 hectares (waiting for government concession) for an aggregate total of 6,625 hectares. The Company has the right to acquire 75% of the project from TNR Gold Corp. and Geocom Resources Inc.
Gold and base metal mineralization discovered at La Carolina occurs in the volcanic rocks in narrow high grade veins (59.2 gpt Au over 1.5 m and 0.23% Pb, 0.78% Zn over 28 m), wider lower grade zones (2.5 gpt Au over 138 m) and low grade disseminated mineralization (0.4 gpt Au over 78 m) associated with volcanic porphyry intrusive.
The potential gold baring target covers approximately 9 sq.km; but only 50% of this area has been explored.
During 2007, the Company completed a Phase I exploration program on the Property, a 5,000 m diamond drilling program has been completed. The Company is looking for a joint venture partner to further define the resource potential at La Carolina.
(4) Esmeralda Gold Project, Columbia
Esmeralda Project is located in the Cauca Department, southern Columbia, reporting significant historical gold production dating back to the 15th century. Esmeralda is located 150 km from the Pacific Ocean at an elevation of 2,500 m and is readily accessible by all-wheel drive vehicles by local roads and the Pan American highway. The mining licences cover 30,000 hectares. The Company has the option to acquire 100% of the property by making annual escalating cash payments totalling US$452,500 over 4 years. The vendor retains a 3% Net Profits Interest royalty.
The Company has completed preliminary mapping and sampling on the Property. The mapping discovered gold mineralization in sedimentary rocks covering a rectangular area measuring 1 x 2 km parallel to the NE trending Romeral Fault. Recently the Company collected 92 stream sediment samples in the area, 87 samples contained anomalous concentrations of gold, averaging 50 ppb to a maximum of 260 ppb. Three reconnaissance rock chip samples from this area were also collected, which returned 9, 15 and 262 gpt Au. Subsequently, the Company collected 90 rock chip samples containing significant quartz and sulphide veining.
The Company will ramp up the exploration program, including detailed geological mapping, trenching and detail rock chip and a magnetometer survey.
MANAGEMENT
Latin American Minerals Inc. has a well management team with experience in different areas.
Management
David G. Wahl, P.Eng., P.Geo., President and Chief Executive Officer
Mr. Wahl graduated from the Colorado School of Mines, with a degree of Engineer of Mines (1968). Mr. Wahl is a registered Professional Engineer in the province of Ontario (1970) and holds the designation of Consulting Engineer (1975) and has been designated Specialist in Exploration and Development (1978) by Professional Engineers Ontario. Additionally, Mr. Wahl is a registered Professional Geoscientist (2002) in the province of Ontario.
Mr. Wahl has 40 years experience in industry and consulting, as a partner in several major Canadian consulting firms (W.G. Wahl Limited: Derry, Michener, Booth & Wahl: Watts, Griffiths and McOuat Limited) specializing in mineral exploration and property evaluations.
Mr. Wahl authored over 100 Technical Reports for numerous mineral exploration companies as well as for several major mining companies, directed a two year study and was the principal author of a three volume report on the Limestone Industries of Ontario prepared for and published by the Ministry of Natural Resources, provided technical advice on mineral exploration and development to the auditors at Revenue Canada.
As co-chair of the Professional Engineers Ontario, Mining Standards Working Group, Mr. Wahl provided peer review of the joint Toronto Stock Exchange/Ontario Securities Commission Mining Standards Task Force, which details reporting and disclosure standards for the exploration and mining industry.
Mr. Wahl has examined and reported on many exploration and development projects in Argentina, Chile, Peru and Bolivia; he also evaluated the iron ore industry of El Salvador on behalf of the United Nations.
Waldo A. Perez, B.Sc. (Honors Geology), Ph.D., P.Geo., Executive Vice President Exploration
Dr. Perez received his undergraduate and Doctorate degree in geology from the Universidad Nacional de Tucuman, Argentina (1982-1991) and completed Postdoctoral studies at the University of Alberta (1992-1993). Dr. Perez is registered Professional Geoscientist with the Association of Professional Engineers and Geoscientist of British Columbia.
Dr. Perez has 6 years experience in academia as distinguished lecturer and 13 years in industry as senior exploration geologist with several major international gold producers and as consultant to Canadian public junior exploration companies. Dr. Perez has successfully completed assignments in Canada, USA and almost every country in South America; although his focus has been Argentina, Chile, Peru and Brazil.
Over his career, Dr. Perez has prepared numerous confidential and public technical reports. He has also published extensively in Argentina Technical Journals, Journal of South American Earth Science and the Geological Society of America.
Dr. Perez is member of Colegio de Geologos de la Provincia de Tucuman, Society of Economic Geologists and Prospectors and Developers Association of Canada.
Raymond Mitchell, CA, Chief Financial Officer
Mr. Mitchell is a Chartered Accountant with more than 30 years' experience. Mr. Mitchell was the Senior Vice-President and Chief Financial Officer of The Canadian Depository for Securities ("CDS") for a span of 9 years and performed a variety of roles for the organization over his 24 years career with CDS, including providing executive oversight of the development of the SEDAR system. For 6 years prior to his engagement with CDS, Mr. Mitchell performed a variety of financial functions for a large Canadian trust company.
Paul Fornazzari, B.Sc., LL.M., Corporate Secretary
Mr. Fornazzari is a partner with Gowling Lafleur Henderson LLP in Toronto, where he practices corporate and securities law with an emphasis on mergers and acquisitions, corporate finance and regulatory matters. He is head of the Corporate Finance, Securities and M&A National Practice Group at Gowlings. He obtained his LL.B. degree from the University of Windsor in 1994 and his LL.M. degree from York University, Osgoode Hall Law School in 2000.
Roberto Lencina Kairuz, Professional Geologist, Director of Latin American Minerals SA and is the Country Manager for Argentina, based in Mendoza.
Juan Carlos Benitez Maldonado, Professional Geologist, Director of Latin American Minerals Paraguay and is the Country Manager for Paraguay, based in Asuncion.
Board of Directors
Paul Fornazzari, B.Sc., LL.M, Chairman (Acting)
Harvey H. McKenzie, CA (Canada), Director
Patricia Sheahan, BA, Geology, Director
David G. Wahl, Director
Dr. Waldo Perez, Director
Michael J.H. Brown, Chartered Financial Analyst, Director
Theodore (Ted) J. Freedman, Director
NEWS UPDATE
On June 4, 2008, Latin American Minerals Inc. announced that its initial sampling and mapping program on its wholly owned Esmeralda property in Colombia have resulted in three distinct gold-bearing porphyries: Tunnel, Amatista and Los Planes. All are of Tertiary age and have similar geologic settings as the major deposits.
On June 2, 2008, Latin American Minerals Inc. announced that its recently completed phase I drilling program on its Paso Yobai gold project in Paraguay has almost tripled the strike length of the Discovery zone from 700 metres to 2,000 metres. The Company will commence the comprehensive phase II program immediately, which will include resource definition drilling and bulk sampling as basis for preliminary economic assessment.
On April 22, 2008, Latin American Minerals Inc. reported that based on the encouraging results, the Company has added a second drill to its Rio Tendal project in La Rioja, Argentina. The second drill rig arrived on site, and will accelerate and support the 5,000-metre diamond drill program currently underway on the property.
Additionally, LAT has engaged Quantec Geoscience of Mendoza to carry out a gravity survey designed to detail and extend the gravity anomaly identified during the reconnaissance gravity studies completed on the property last year.
On April 16, 2008, Latin American Minerals Inc. announced that it has optioned part of its 75% interest in La Carolina Property in Argentina to CHC Venture Capital S.A. ("CHC"), a venture capital group based in Argentina focused on the resource sector.
Under the terms of the option, CHC has the right to acquire a 51% interest in the property from LAT's 75% interest by making escalating cash payments totalling US$1,090,000 over 4 years and by expending US$750,000 each year over 4 years (US$3,000,000 in the aggregate) on exploration of the property. No interest is earned by CHC until all its obligations have been satisfied.
On April 15, 2008, Latin American Minerals Inc. announced that it has exercised its option to acquire 75% interest in the La Carolina Property in Argentina. LAT has completed the required exploration expenditures under the existing option agreement and, with the final issuance of 175,000 common shares and payment of US$75,000 to the optionors, has acquired a 75% interest in the property.
On March 11, 2008, Latin American Minerals Inc. announced that Rosebrook Limited, a wholly owned subsidiary of Zoneplan Limited, which is wholly owned by Santa Elina Mines Corporation, has acquired 7,387,000 common shares of Latin American Minerals Inc. at a price of 65 cents per common share, for a total purchase price of $4,801,550. Prior to the acquisition, Rosebrook did not hold, beneficially own, or exercise control or direction over any of common shares of the Company.
As a result of this transaction, Rosebrook now owns 15.65 per cent of the outstanding common shares of the Company.
On March 10, 2008, Latin American Minerals Inc. announced that it has filed an independent NI 43-101 Technical Report on its Paso Yobai gold project in Paraguay. The Report was dated February 15, 2008 and was prepared by Cargill Consulting Geologist Limited, Toronto. The author and independent qualified person is Dr. D. George Cargill, Ph.D., P.Eng., consulting geological engineer.
On February 18, 2008, Latin American Minerals Inc. announced the start of a 5,000 m diamond drill program on its Rio Tendal project in Argentina. The drilling is being carried out by Boart Longyear. The road reconstruction has been completed and drilling has started on the first of 8 holes to test the Verdiona massive sulphide zone. Drilling is also planned and platforms have been completed to test the Yegua Pircada, Las Catitas and El Alto massive sulphide zones.