Argentina
Esperanza Project
Overview
The Esperanza project is an advanced, drill-ready, copper-gold exploration project, located in San Juan Province, Argentina. The project is at relatively low elevation of 3,000m, 35km from power lines and only 135km north of the Provincial Capital San Juan. San Juan Province is a mining jurisdiction which is host to large gold mines and world class copper deposits.
Latin Metals has an option to earn a 100% interest in the project, subject to a 2% NSR royalty in favour of the underlying owner. In Q1 2021, Latin Metals entered into an agreement with Libero Copper (TSX.V: LBC) under the terms of which agreement, Libero have a right to earn a 70% interest in the project.
The Esperanza project consists of an outcropping copper-gold porphyry system, juxtaposed beside a gold epithermal system. Rock sampling at surface provides a sense of the system dimensions and highlights that both high-grade gold and copper occur at surface.
Historical exploration includes 8,500m of diamond drilling. The copper-gold porphyry system is exposed over a large area and is defined by drill holes which intersect mineralization from surface to a depth of approximately 400m. In 2018, Latin Metals’ exploration returned the best drill hole to date; 387m grading 0.57% copper and 0.27 g/t gold, intersected from surface and open at depth.
| Drillhole | Azimuth | Dip | From (m) |
To (m) |
Interval (m) |
Copper (%) |
Gold (g/t) |
|---|---|---|---|---|---|---|---|
| 18-ESP-025 | 280 | -67 | 0 | 387 | 387 | 0.57 | 0.27 |
| including | 0 | 368 | 368 | 0.59 | 0.28 | ||
| including | 0 | 232 | 232 | 0.74 | 0.33 |
Partner Funded Exploration
Ownership
Latin Metals has an option to earn a 100% interest in the Esperanza project from the underlying owner
Optioned to Libero Copper
Latin Metals has agreed option terms with Libero Copper, who can earn a 70% interest through cash payments of US$500,000, payments to the underlying vendor of US$1,900,000, and exploration expenditure of US$2,000,000. Upon exercise of the option, Libero and Latin Metals will form a 70:30 joint venture.
Project Highlights
- Copper-endowed district with 11 known copper deposits - 175km from Filo del Sol deposit
- Best intersect to date: 387m @ 0.57% copper & 0.27g/t gold intersected from surface
- Open at depth and laterally – underexplored and not tested below 400m
- Copper-gold porphyry system juxtaposed with epithermal gold – telescoping likely
- Critical mass of exploration data – 24 drill holes for 8,500m, geochemistry, and geophysics. Drill-ready.
- Up to 6% copper and numerous +1% rock samples at surface
- Very large alteration system and pyrite halo exposed at surface
- Road accessible, low elevation, year-round project
