Latin American Minerals Inc.
TSX VENTURE : LAT

Latin American Minerals Inc.

October 09, 2007 10:42 ET

Latin American Minerals Discovers Three New Massive Sulphide Horizons and Mineralized Breccia Zones on Its Tendal Zinc-Copper-Lead-Silver Project, Argentina

TORONTO, ONTARIO--(Marketwire - Oct. 9, 2007) - Latin American Minerals Inc. ("LAT") (TSX VENTURE:LAT) announces that it has discovered three new massive sulphide horizons and mineralized breccia zones on its Tendal Zinc-Copper-Lead-Silver Project in La Rioja, Argentina and has acquired five historic mines, covering artisan workings on mineral occurrences within its Tendal project area.

The Tendal project comprises six large concessions in two blocks covering 36,434 hectares. Included in the project area are several small historic mines, comprising less than 1% of the total project area. Five of the historic mines are now owned by LAT including Yegua Pircada (18 hectares, Pb), Verdiona (6 hectares, Cu), Estrella Primera (6 hectares, Cu) and Estrella Alta (6 hectares, Cu).

Teck Cominco Limited has also been acquiring exploration concessions and historic mines in the area and now owns five historic mines within LAT's exploration concessions.

LAT holds the predominant land position at Tendal. Please refer to LAT's website (www.latinamericanminerals.com) for the location of the historic mines and exploration concessions at Tendal.

Mr. David Wahl, President and CEO of LAT reports that "we are pleased that our early encouraging results have caught the attention of Teck Cominco, the world's largest zinc producer and we interpret their recent acquisitions as recognition of the potential of Tendal."

Yegua Pircada Zone:

This new massive sulphide discovery is located 3.6 kilometres west of the Verdiona Zone (centrally located in the northern concession and referred to as the main massive sulfide discovery in all previous press releases). The Yegua Pircada massive sulphides are stratabound and occur within limestone unit that is 40m wide and trends N-S, parallel to the Verdiona Zone. Massive sulfide mineralization has been traced on surface for over 700 metres in two main mineralized zones located at the hanging wall and footwall of the limestone unit. Each mineralized zone is between 8-12 metres wide and is comprised of several lenses up to a meter wide and many smaller parallel lenses. The mineralized zone is variably covered by overburden and younger (Permian) sediments to the north. To the south the sulphide lenses pinch out in the limestone unit. The two main mineralized zones are separated by approximately 25 metres of variably brecciated limestone containing traces of disseminated sphalerite and chalcopyrite. This brecciated limestone can be traced for 6 kilometres to the south of the known Yegua Pircada massive sulfide.

LAT has completed limited reconnaissance geochemical sampling of this discovery and the initial assay results are encouraging. Grab samples of the mineralized lenses returned 1.2% Zn and 0.6% Cu. The brecciated limestone returned 0.8% Zn. Based on these early results LAT has initiated a detailed diamond-saw channel sampling program to evaluate this new discovery. The majority of the assays is pending and will be released on receipt.

Las Catitas Zone:

This second new massive sulphide discovery is located 400 metres south of the Verdiona Zone. Las Catitas is a complex mineralized zone approximately 300 metres wide. Mineralization is found in lenses similar to the ones exposed on the Verdiona Zone, in veins and disseminated in the host rock.

Massive sulphide lenses are up to 3 metres wide and have been traced in outcrop for approximately 50 metres. Reconnaissance grab samples taken by LAT returned:



25gpt Ag, 3.33%Cu and 0.37% Zn over 3.0 metres
119gpt Ag, 0.34% Zn, 0.9% Pb and 1.18%Cu over 1.8 metres


Sulphide bearing veins and vein breccias are very common in this area. The veins pinch and swell along the exposed strike. Reconnaissance chip sampling by LAT returned the following typical results:



287gpt Ag, 0.22% Zn, 3.64% Pb and 2.67% Cu over 1.7 metres
175gpt Ag, 0.68% Zn, 3.05% Pb and 2.82% Cu over 0.5 metres
394gpt Ag, 2.15% Zn, 4.65% Pb and 6.42% Cu over 0.2 metres


Host rock dominantly metasediments (sandstones) adjacent to the mineralized lenses/veins contain disseminated sulphides. Reconnaissance chip sampling by LAT returned:



157gpt Ag, 1.0% Zn, 0.13% Pb and 2.24% Cu over 2.0 metres
21gpt Ag, 2.76% Zn, 0.11% Pb and 1.72% Cu over 1.3 metres


Based on the early encouraging result LAT has initiated a detailed diamond-saw channel sampling program to evaluate the area, in particularly the disseminated mineralization in the sandstone.

El Alto Zone:

This third new massive sulphide discovery is located 700 metres west of the Verdiona Zone and consists of five parallel E-W vein breccias between 0.4 and 1 metre wide, which cross-cut the basement stratigraphy. The veins can be traced in outcrop for approximately 50 metres, at which point, the vein-zone is covered by overburden. Grab samples returned up to 9% Cu and 0.2% Zn.

Dr. Perez, Senior VP of Exploration stated that "...The Las Catitas Zone has more copper and silver than the northern Verdiona Zone, which is predominantly zinc rich, suggesting higher temperature and possible proximity to a feeder zone. The Catitas Zone is probably the most significant drill target at Tendal, as it could represent the feeder zone of the Verdiona system. Ground geophysics will be required to identify potential sulphides at depth prior to drilling. On the other hand, the Yegua Pircada discovery is a completely different target, with limestones and shales in a more distal environment. The more we explore the camp the more encouraging the results are becoming."

LAT has completed a 20 kilometres all season gravel road to the Verdiona Zone. Construction of a 40 person exploration camp is near completion, which along with the road will enable LAT to advance the project year round. LAT engaged Quantec Geoscience Argentina S.A. to carry out a time-domain EM survey using a Geonics pro-10 in an attempt to define the feeder zone at Las Catitas, evaluate the Yegua Pircada trend of massive sulfides and brecciated limestones and to identify massive sulphides at depth at Verdiona.

LAT is aware that Teck Cominco has acquired the following historic mines in the Tendal camp: Guadalupe (12 hectares, Cu), Capricho (36 hectares, Pb) Salto de Albi (18 hectares, Cu-Mo), Cuerpo Rojo (36 hectares, F) and La Milanesa (12 hectares, Pb-Zn). All of these historic mines are located within LAT's larger exploration concessions which cover approximately 36,434 hectares. Additionally, LAT is aware that Teck Cominco has staked exploration concessions in proximity to LAT's concessions.

LAT is a mineral exploration company focused on the acquisition and development of base and precious metals projects in under-explored but highly prospective countries of Latin America.

Dr. Perez is the Company's internal Qualified Person under the requirements of National Instrument 43-101 and is responsible this press release.

Notes:

Sampling and Analytical Protocols: All of the lithogeochemical samples were collected by geologists taking into account the nature of the material being sampled and with due respect to geologic contacts. The individual sample intervals varied depending on the location but typically ranged from 0.5 to 5.0 metres. Each individual sample weighted between 2 to 5 kilograms and was collected in a plastic bag, tagged with a pre-numbered ticket and tightly closed with plastic tape. The samples were stored in a secured location at the base camp and were transported by Company professional to Alex Stewart Assayers Argentina S.A. ("ASAA") laboratories in Mendoza (Argentina). ASAA is an ISO 9001-certified laboratory with headquarters in England. The samples were crushed, dried, split and grinded to #200 mesh. A total of 200 grams of sample have been separated for analysis. All samples were assayed for gold, multi-elements by ICP and Hg by cold vapor. Gold was done by Fire Assay and AAS using a 50 gram sample. For the multi-elements the samples were dissolved in Aqua Regia at 120ºC and read in ICP-OES. The samples that were above the upper detection limit for Cu, Pb and Zn (1%) for the technique were reanalyzed by dissolving in Aqua Regia again using a larger volume of solution to raise the upper detection limit to 30% for Cu, Pb and Zn. Silver above 200 ppm was re-run by Fire Assay with gravimetric finish. Accuracy of results is tested through the systematic inclusion of certified reference standards.

This news release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. These forward-looking statements, including statements regarding the Corporation's beliefs in potential mineralization, are based on current expectations, assumptions and projections about future events and entail various risks and uncertainties that are beyond the Corporation's ability to control or predict. Actual results may materially differ from expectations as more information regarding a property is gathered or if the Corporation's estimates or assumptions prove inaccurate. Factors that may materially affect actual results include, but are not limited to, political, business and economic conditions in Argentina and in jurisdictions where the Corporation conducts business, and risks associated with mineral exploration and production. The Corporation does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on forward-looking statements. The results described herein are exploratory in nature and there can be no assurance that they are indicative of Mineral Resources as defined in accordance with National Instrument 43-101.

The TSXV has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information