Latin American Minerals, a mineral exploration company, has declared the assay results for the initial five diamond-drill holes on the Tacurú target.
This target is the first gold soil anomaly drilled on the New Gold Trend of Latin American Minerals’ exploration concession situated in Paso Yobai, Paraguay. This target region is situated 3.5 km towards the northeast of Latin American Minerals’ newly constructed Mina Independencia gold pilot plant.
An important gold soil anomaly, the Tacurú Target was initially discovered in the exploration sampling program, which identified and outlined the New Trend gold occurrences. Latin American Minerals, after contracting the surface rights and asserting the mineral rights with the local residents, developed data on the Tacurú target via comprehensive soil sampling grids, trenching and auger-hole sampling.
In December 2011, the company reported the trench results from the Tacurú target that showed 3.8 gpt averaged over 30.55 m. On December 22, 2011, the project’s drill permit was obtained and a preliminary campaign of six holes, adding up to 851.00 m of diamond drilling, was concluded in January 2012. The company has received the assay results for the initial five holes, but assay results for DDH- LAT-BT-06 drill hole are still pending.
Latin American Minerals’ President and CEO, Miles Rideout commented that the initial results from the Tacurú target validate that there is significant New Trend gold mineralization, and this gold has been discovered in sandstone host units. These results are vital for the company, who will continue to drill additional targets. In 2012, the company aims to show the scope and dimensions of this latest discovery.