Argentina
Cerro Bayo and La Flora Projects
Latin Metals has an option to acquire a 100% interest in two projects located within the Deseado Massif in Santa Cruz Province, Argentina. The Deseado Massif is one of the most prolific and productive precious metal belts in the world, having yielded more than 600 million ounces of silver and 20 million ounces of gold since the 1990s. The region is home to more than 30 mines and exploration projects, including Newmont's Cerro Negro Mine, Hochschild/McEwen's San Jose Mine, and Patagonia Gold's Cap Oeste Mine. Mineralization at Cerro Bayo and La Flora is hosted in Jurassic-aged rhyolitic ignimbrites and domes and is controlled by a regional-scale trans-tensional fault system.
Latin Metals has completed detailed geological mapping, alteration studies, a 102-line km magnetic survey, and 133-line km of gradient IP/Resistivity geophysics across the 28,397-hectare land package. Exploration has identified ten high-priority drill targets, focusing on structurally controlled outcropping veins and hydrothermal breccias. Surface samples have returned grades of up to 2.3 g/t gold and 600 g/t silver. Geochemical data suggests the presence of two stacked levels of high-grade mineralization. Latin Metals has received the necessary permits to proceed with trenching and drill testing and is actively advancing the project.
The projects are accessible by road year-round from Gobernador Gregores and Perito Moreno, with nearby infrastructure, including ports and electrical distribution suitable for mining operations. Historical drilling has been conducted within the project boundaries, though no results have been made public. Adjacent to the project, historical drilling by Exeter Resources at the Verde Project returned values up to 310 g/t silver and 0.65 g/t gold over 2 metres.
Latin Metals is currently seeking an option partner to support drilling and advanced exploration activities at Cerro Bayo and La Flora.
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.
