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latin american minerals inc (LAT) Details

Latin American Minerals Inc. engages in the exploration and development of mineral properties in South America. The company’s properties include the Paso Yobai gold property, which consists of approximately 15,665 hectares, located to east of the capital city of Asuncion, south-eastern Paraguay; the Itapoty diamond property, situated to the north of the Paso Yobai gold project, Paraguay; and the Chiriguelo Niobium/Rare Earth project covering an area of approximately 25,500 hectares located in northeastern Paraguay. It also holds interest in the Tendal zinc, copper, lead, and silver project, which includes 6 mineral concessions comprising 2 land parcels covering an area of approximately 36,000 hectares located in the province of La Rioja in northwestern Argentina. Latin American Minerals Inc. was incorporated in 2003 and is headquartered in Toronto, Canada.

latin american minerals inc (LAT) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$160.1K
Chief Financial Officer
Total Annual Compensation: C$155.1K
Compensation as of Fiscal Year 2012.

latin american minerals inc (LAT) Key Developments

Latin American Minerals Receives Heap-Leach Permit for Expanded Gold Production

Latin American Minerals Inc. has received an expanded environmental permit authorizing heap-leach gold extraction at its Independencia Mine, part of the Company's Paso Yobai gold project located in Paraguay. The company is initially planning construction of four heap-leach pads with 18,000 tonnes total capacity. Current assayed stockpiles total 140,000 tonnes at 0.6 - 0.8 g/t gold, sufficient for 18 months of heap leach operation. Ongoing pit extraction is expected to replenish existing stockpiles. The anticipated heap-leach circuit will operate concurrently with the high-grade bulk sampling concentrator plant and is expected to supplement existing cash flow. The Company observes that an independent feasibility study has not been completed and is required to advise the reader that there is no certainty the proposed operations will be economically viable.

Latin American Minerals Inc. Provides Exploration and Operational Update on its Fully Owned Paso Yobai Gold Project in Paraguay

Latin American Minerals Inc. provided an exploration and operational update on its fully owned Paso Yobai gold project in Paraguay. The company continues to advance exploration efforts on its Paso Yobai gold project despite the current downturn in the commodities market. The ongoing Independencia Mine open pit exploration activity has generated sufficient cash flow to fund the processing of 40,000 tonnes and 1,900 ounces of gold production to date at a continuously declining operating cost of $1,050 per ounce in the last three months. Extensive exploration work on the X-Mile Trend demonstrates that the majority of these targets are fully preserved epithermal systems located close to the present-day surface. Based on the typical geometry for similar, classical epithermal gold systems, management has interpreted substantial potential for high-grade feeders between 200 and 400 metres below the identified surface gold targets. Soil sampling, trenching, and geophysics, combined with limited drilling also indicated that the mapped gold zones may have significant shallow potential, as veining and as disseminated mineralization occurring in the first 200 m below surface. The company will proceed with ground follow up work in 2014 to validate several shallow anomalous occurrences on the Discovery Trend and outlying areas. Following implementation of the first leach pad, the company plans to add additional leach pads in 2014 using operating cash flow in order to process 140,000 tonnes of assayed, leachable mineral stockpiles available immediately from Independencia Mine operations to date. These stockpiles have been tested by 630 assay samples ranging from 0.3 to 7.3 g/t, with an average grade of 0.69 g/t. The high grade bulk sampling mineralization will continue to run through the gravity concentrator plant. The Discovery Trend hosts mineralization in gold shoots contained within an extensive mafic dike. The individual shoots are high grade as demonstrated by these trench results: Trench 1 - 21.47 g/t over 0.5 m; Trench 2 - 61.38 g/t over 0.5 m; Trench 3 - 34.79 g/t over 0.6 m. Drilling, trenching and the Independencia Mine open pit bulk sampling to date have confirmed these shoots are spatially close to each other, and contain significant mineralized lenses from surface of 1 to 6 m width, 5 to 25 m length and 2 to 15 m in vertical extent. A series of these high grade mineralized lenses has been confirmed to continue below surface to at least 150 m, remaining open to depth. The average grade delivered to the Mill over 18 months of operation is 2.5 g/t Au with metallurgical gold recoveries of approximately 80%. The bulk sampling activities have confirmed high-grade shoots within a significant halo of low-grade mineralization averaging 0.6 to 0.8 g/t. The ratio of the low-grade to the high-grade shoots is approximately 10:1. After 18 months of plant operation, the company has stockpiled and assayed 140,000 tonnes of mineralization, which is immediately available for heap-leach processing. The Independencia Mine open pit is currently 550 m in length and 10 to 20 m in depth. The current pit plan contemplates a minimum 1,100 m pit extent, excavated to 30 m depth. The company's prior drilling has confirmed the extension and notable improvement in mineral grades below 50 m depth, which could result in a significant expansion of the current pit plan. The known Discovery Trend is known to extend a further 2.0 km to the NW which is available for bulk-sampling using the existing Mill facility. Drilling has identified mineralization at depths exceeding 150 m along the Discovery Trend, with intervals such as 6.5 m with 26.64 g/t Au at 100 m depth. This provides evidence that the results of the bulk sampling program can be extrapolated across the Discovery Trend at surface and at depth. The X-Mile Trend presently features six target areas that manifest as discrete circular-to-elongate soil anomalies of greater than 1 kilometre scale. Only one target area, namely Tacurú, has been drilled to date, returning the best results to date for the Paso Yobai property including (in the same drill hole) 4.2 g/t Au over 22 m, 94.6 g/t over 2.13 m, and 107.7 g/t over 2.7 m Au.

Latin American Minerals Inc. Announces Issuance of Notes to Certain Directors

Latin American Minerals Inc. announced the issuance of notes in the aggregate principal amount of CAD 169,150 to certain directors of the company. The notes were issued at a purchase price of 94% of the principal amount, generating net proceeds of CAD 159,000, will mature on February 28, 2014, and include a general security interest over the assets of the Company. The Company may repay the principal amount, at its discretion, in whole or in part, at any time prior the maturity date with written notice. The holders of the notes are entitled to an incentive payment not to exceed 10% of any increase in the London Fix PM USD gold price, converted to Canadian dollars, from the issue date of the notes to the repayment date. The note proceeds will be used for general working capital purposes and have received final regulatory approval.


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