Latin Metals Acquires the Lacsha Copper Property in Peru

VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) announces that it has acquired the Lacsha copper property (“Lacsha” or the “Project”), located in the Peruvian Coastal Copper Belt.  As a prospect generator, the Company already owns a portfolio of projects in Argentina and has been actively seeking to acquire copper and precious metal projects in Peru.  The staking of Lacsha represents an important first acquisition in Peru and the Company is actively reviewing several other opportunities in the country.

Recent discoveries in the Cretaceous age Coastal Copper Belt include copper porphyry, VMS, IOCG and intrusion-related gold deposits.  Lacsha is prospective for copper-molybdenum porphyry and associated mineralization; geochemical anomalies have already been defined over an area of 5.0 km by 2.5 km.  The Coastal Copper Belt in Peru has been a focus for recent discoveries over the last 15 years, however much of the exploration effort has been focused in southern Peru, leaving much of the central and northern portions of the belt significantly under-explored.   

Lacsha Copper Project

The Project is located approximately 110 km by road from Lima, 40 km from the coast, and is accessible year-round by paved road.  The 4,000-hectare Lacsha project was selected for staking based on the results of historical multi-element geochemistry (Figure 1) and anomalies that extend over an area measuring 5.0 km x 2.5 km.  The claims lie immediately south and contiguous with a large block hosting Newmont Corporation’s Sumacwayra copper-molybdenum discovery.

A total of 21 stream sediment samples define multi-element anomalies across 6 drainages, with copper assay results ranging from 125 ppm to 969 ppm.  Results from 13 rock chip samples range from 23.6 ppm to 2,679 ppm (0.26%) copper and from <1 to 427 ppm molybdenum. 

Stream sediment sampling has indicated clear metal zonation across the survey area, with a central area of copper-molybdenum anomalies and distal silver and zinc-lead anomalies.  Copper and molybdenum show a strong correlation coefficient of 0.92. 

Future Work

The Company plans to complete mapping combined with surface geochemistry in Q3 2020.  Stream sediment sampling has historically worked well in defining anomalous areas and an additional 50 stream sediment samples will expand geochemical coverage within the Lacsha project.  In tandem with this work and geological mapping, approximately 100 rock chip samples will be collected.