The 100%-owned Ana Maria project is a grassroots exploration play, located in Salta Province and partly contiguous with the more advanced Organullo project. The area is prospective for extensions to known mineralization at Organullo.
The 100%-owned Trigal project is a precious metals exploration project located east of and contiguous with Barrick’s El Quevar silver project. Latin Metals staked the property following completion of regional BLEG samples during an exploration alliance with Newmont. The anomalous samples at Trigal are some of the most significant anomalies collected in the regional BLEG survey which covered portions of three provinces in northwest Argentina.
Latin Metals owns the Ana Maria and Trigal projects 100%.
Optioned to AngloGold Ashanti
Latin Metals has agreed option terms with AngloGold Ashanti, who will option the Organullo, Trigal, and Ana Maria projects and the terms described apply to these projects as a group. AngloGold will have an initial option to earn a 75% interest through cash payments of US$2,550,000 and exploration expenditures of US$10,000,000, all over 5 years. AngloGold will have a second option to earn an additional 5% (aggregate 80%) interest by delivering an independent NI 43-101 Mineral Resource estimate and making a cash payment equal to US$4.65 per gold equivalent ounce of Measured and Indicated resource defined.