Plata Latina drilling discovers 3,181 g/t silver and 13.28 g/t gold over 10.95 metres
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The Company has completed detailed surface mapping and sampling on the property and has conducted a small targeted diamond drilling program to test for hidden silver bearing vein structures similar in characteristic to other major deposits in the Mexican Silver Belt. The drilling has discovered a blind epithermal vein system with values up to 17,833 g/t silver and 71.81 g/t gold over 1.60 metres within the Company’s discovery hole, BDD-N-10, which averages 3,181 g/t silver and 13.28 g/t gold over 10.95 metres on the Villa vein.
Plata Latina has defined a system of northwesterly-striking veins that have so far produced significant drill-hole values over a distance of approximately five kilometres along the vein system. The Naranjillo property is regionally situated in the central part of the Mexican Silver Belt, approximately 35 kilometres southeast of the world-class Guanajuato epithermal silver-gold vein district in Mexico.
President and CEO Mike Clarke says, “With these results, especially with the high silver-gold values drilled on the Villa vein, Plata Latina appears to be well on its way toward the Company’s objective of discovering Mexico’s next potential epithermal silver-gold vein district.”
The Company has completed eight drill holes at Naranjillo for a total of 5,576 metres, of which three returned significant results. A summary of these results are provided below.
Hole | From | To | Interval | True Width (m) | Ag | Au | Comment |
BDD-N-10 | 585.45 | 596.40 | 10.95 | 7.74 | 3,180.9 | 13.28 | Villa |
includes | 587.40 | 589.00 | 1.60 | n/a | 17,833.4 | 71.81 | |
BDD-N-2 | 588.00 | 592.00 | 4.00 | 2.80 | 61.1 | 0.40 | Sibila FW |
includes | 588.58 | 588.95 | 0.37 | n/a | 440.0 | 3.01 | |
BDD-N-8 | 543.26 | 545.25 | 1.99 | 1.00 | 112.2 | 0.47 | San Diego Group |
includes | 544.50 | 545.25 | 0.75 | n/a | 171.0 | 0.85 | |
BDD-N-8 | 625.75 | 626.65 | 0.90 | 0.63 | 140.0 | 0.35 | San Diego Group |
Assays and Quality Assurance/Quality Control
Commercially obtained standards were inserted between every tenth core sample as were blanks obtained from barren rock in nearby road material quarries. Chemex laboratory also inserted a blank and a standard every 20 samples. Rejects and pulps from the high grade intersection in hole BDD-N-10 were both re-assayed at ActLabs and the average of these two assays and the original Chemex assay are shown in the table.
Qualified Person
This news release has been reviewed and approved by David St. Clair Dunn, P.Geo., a Qualified Person as defined under NI 43-101.
About Plata Latina Minerals
Plata Latina Minerals is a Canadian silver exploration company currently concentrating its drilling efforts on its 100% owned Naranjillo property which consists of 31,701 hectares and is located in Guanajuato, Mexico. The Company has four additional properties also located in the Mexican Silver Belt which have yet to be explored. Plata Latina’s expertise in the ore horizon concept and extensive experience in Mexico provides a competitive edge for discovery of new districts between old historic deposits. Its highly experienced management team and board are focused on developing its portfolio of high-potential targets and exploring additional value-creation opportunities. Plata Latina has been conditionally approved for listing on the TSX Venture Exchange under the symbol “PLA”.
For additional information please contact:
Letitia Cornacchia, Vice President, Investor Relations and Corporate Communications
Telephone: +1 416 860 6310
Email: lcornacchia@plminerals.com
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and other statements that are not historical facts. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from target results and the results or events predicted in these forward-looking statements. Such forward- looking statements include the potential mineralization and potential scope of mineralization. As a result, investors are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, Plata Latina disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking information reflects the current expectations or belief of the Company based on information currently available and such information is subject to a number of assumptions, risks and uncertainties, including risks related to exploration, uncertainties related to financings; the uncertainties of interpreting exploration results and the other risks associated being a mineral exploration company.
