Latin Metals Reports Completion of Airborne Magnetic and Radiometric Survey, Organullo Project, Argentina

VANCOUVER, British Columbia, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces significant progress at its 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. AngloGold has completed an airborne geophysical survey collecting magnetic and radiometric data over most of the Project area (Figure 1).

“This extensive geophysical survey is a significant step for the Organullo project. With the survey complete, processing is in progress, and we look forward to seeing the results of the survey in due course.” stated Keith Henderson, Latin Metals’ CEO. “The data and interpretation will be integrated with existing data collected by AngloGold to help finalize drill targets. AngloGold Ashanti has submitted a drill permit for 11,900m and plans to commence drilling once this permit and other licenses are received.”

Figure 1: Map showing the Organullo property claims under option to AngloGold
and the area where airborne geophysical survey has been completed.

Airborne Survey Details

Airborne geophysical surveys allow the collection of subsurface data using sensors and instruments mounted on an aircraft. The primary goal is to obtain a better understanding of the distribution of subsurface rock types and mineralization prior to drill testing. The method can be expensive due to the use of aircraft to collect the data, but it is efficient compared to ground-based methods and almost completely non-invasive, minimizing the impact on flora, fauna and local communities.

The survey completed by AngloGold collected magnetic and radiometric data along 3,500 line-km, covering most of the Property in eleven days. Survey lines were flown on a 100m spacing north-south and a 1,000m spacing east-west, at an average flight height of 60m above ground.

About Latin Metals

Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration.