Latin Metals Expands Land Position at Auquis Project
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Latin Metals Expands Land Position at Auquis Project
Latin Metals Inc. is excited to share significant news regarding the expansion of its Auquis Project. The company has successfully staked an additional 400-hectare claim, known as the "Extension," which is directly adjacent to its 100% owned Auquis Project. This expansion is particularly notable as it situates the Extension south of the Rose copper porphyry target area, which has shown promising signs of hosting an extension of the Rose porphyry system. The potential of this area has been corroborated by geochemical soil sample analysis gathered prior to the staking.
Exploration Plans and Potential
Moving forward, Latin Metals plans to enhance its exploration efforts at the Auquis Project. The upcoming exploration activities will include supplementary sampling in the Rose zone, alongside further investigations at the Blanco skarn target. Notably, the Blanco skarn mineralization has already revealed remarkable rock samples with grades of up to 9.3% zinc, 6.1% lead, 2.8% copper, and 176g/t silver at surface level, which strongly emphasizes the potential of this project.
Funding Through Strategic Agreements
In a strategic financial move, Latin Metals has entered into a loan agreement with a trust associated with one of its directors. This unsecured, non-interest-bearing loan is up to USD 100,000, designed to meet the company's resource properties payment obligations and cater to short-term corporate needs. Notably, an earlier loan agreement of the same structure was also received, amounting to USD 100,000, which was fully repaid shortly thereafter. It is vital to note that neither loan is convertible into company securities, ensuring the structure remains straightforward for shareholders.
Understanding Related Party Transactions
Given that the loan provider is a trust controlled by a director of the company, this engagement is classified as a related party transaction. Latin Metals is taking compliance seriously, relying on specific exemptions outlined in Multilateral Instrument 61-101 to bypass the formal evaluation and minority shareholder approval processes, since neither of the loans exceeds 25% of the company's market capitalization.
About Latin Metals
Latin Metals is a dedicated mineral exploration firm focused on acquiring a broad and diversified asset portfolio across South America. The company employs a Prospect Generator model that prioritizes the acquisition of high-potential exploration properties while minimizing costs. This strategy allows for effective exploration to establish drill targets while securing partnership opportunities to fund advanced exploration without significant dilution for its shareholders.
Commitment to Quality and Safety
The exploration programs at the Auquis Project are led by Eduardo Leon, the Exploration Manager, who guarantees the highest standards in quality assurance and quality control procedures. Every step of the sample collection and analysis process is meticulously supervised to ensure integrity and compliance with industry standards. Soil samples are methodically gathered from well-defined prospecting areas, ensuring the reliability of the geological insights derived from this exploration endeavor.
Engagement and Contact Information
Latin Metals encourages stakeholders and interested parties to stay connected with the company's ongoing developments. For inquiries, investors can reach out directly to Latin Metals Investor Relations at 604-638-3456 or send an email to info@latin-metals.com. Moreover, joining their online communities on various platforms such as LinkedIn, Facebook, X, and Instagram can provide additional updates and engagement opportunities.
Frequently Asked Questions
What is the significance of the new 400-hectare claim for Latin Metals?
The new claim enhances the company's position by offering additional exploration opportunities near promising mineralization zones, particularly the Rose copper porphyry target area.
How does the company plan to use the loan funds?
The funds from the loans are earmarked for resource properties option payments and to address short-term corporate and operational needs.
What sampling techniques are being employed in the exploration?
Soil samples are extracted from 40cm x 40cm prospecting pits, ensuring quality collections from defined horizons for accurate geological assessment.
Who oversees the quality control measures in exploration?
Eduardo Leon, the Exploration Manager of Latin Metals, supervises the design and execution of all exploration work, including quality control procedures.
How can stakeholders stay informed about Latin Metals' progress?
Stakeholders can stay updated by following Latin Metals on social media platforms or contacting Investor Relations for the latest news and information.
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