Argentina
Cerro Bayo and La Flora Projects
Latin Metals has an option for a 100% interest in two projects situated within the Deseado Massif in Santa Cruz Province, Argentina. The company is currently seeking an option partner to support drilling and advanced exploration activities.
The Deseado Massif is a region renowned for its advanced-stage exploration projects, many of which are operated by mid-tier to major mining companies. Since 1990, substantial discoveries in this area have yielded nearly 600 million ounces of silver and approximately 20 million ounces of gold. Latin Metals' projects are strategically located near these promising prospects and operational mines, making them highly prospective for both gold and silver exploration.
OWNERSHIP
Option for Cerro Bayo and La Flora Properties
Latin Metals has an option for 100% ownership of the Cerro Bayo and La Flora Properties.
Latin Metals has the option to acquire up to a 100% interest in the Cerro Bayo and La Flora properties. The company can earn an 80% interest by paying US$962,500, issuing shares valued at US$800,000, and issuing shares or cash US$646,732. After fulfilling the first option, including delivering a NI 43-101 technical report, Latin Metals has a second option to acquire the remaining 20% ownership by paying US$400,000 in cash and US$400,000 in cash or shares.
Acquisition of 100% ownership is subject to a 0.75% NSR royalty, with an option to purchase 0.5% for US$1,000,000 at any time. If the second option is not exercised, an 80:20 joint venture is formed. If either party’s interest falls below 10%, then that party’s interest will be converted to a 1% NSR royalty.
