Latin American Minerals Inc.
TSX VENTURE : LAT

Latin American Minerals Inc.

April 18, 2007 11:22 ET

Latin American Minerals Signs Drill Contract

Completes IP Surveys, Reports Gold Over Significant Widths in Historic Trenches and Independently Confirms Gold Soil Anomalies at La Carolina Gold Project

TORONTO, CANADA--(CCNMatthews - April 18, 2007) - Latin American Minerals Inc. (TSX VENTURE:LAT) is pleased to announce that, in regards to its La Carolina gold project in the province of San Luis, Argentina, it:

(i) signed Phase I diamond drill contract with Patagonia Drill a well known and accomplished drill contractor based in Mendoza, Argentina;

(ii) completed Phase III geophysical (IP) survey;

(iii) reports gold mineralization over significant widths in historic trenches; and

(iv) independently confirmed the order of magnitude of the significant historic gold soil anomalies report by Anglo Gold.

The Phase I diamond drill program is scheduled to commence this May and has been designed to test coincident gold and geophysical anomalies related to the contact of the La Carolina diatreme breccia complex with the host altered meta-sedimentary sequence. Currently, a minimum of 2,000 metres in seven (7) holes is planned. The program will test site specific targets as an initial step in establishing the parameters for the more extensive Phase II drilling program consisting of 6,000 metres planned to commence later this year.

All geophysical programs at La Carolina have now been completed, including Phase I: 125.5 line kilometers of a magnetometer survey, Phase II: 81.5 line kilometers of Gradient IP and Phase III: 7.65 line kilometers of pole-dipole IP. Phase I and part of Phase II results were reported earlier this year (ref press release dated February 21, 2007). The surveys were carried out by Quantec Geoscience Mendoza office. The IP surveys identified two previously unknown anomalous zones, which flank and are proximal to the eastern and western edges of the diatreme complex. The anomalous zones are located in the basement trend NNE and have each been traced along strike for approximately 3km. The anomalies exhibit variably strong chargeability and resistivity extending down over 250m and exhibit a near vertical dip.

The historic drilling completed by Anglo focused on volcanic breccias near the contact of the diatreme and the basement rocks. Most of their holes were terminated on intersecting the basement rocks and did not intersect the geophysically anomalous zone within the basement. Some of the holes that intersected the basement rocks in proximity to the anomalous trend reported no significant gold values; however, a number of holes reported anomalous gold assays up to 60gpt Au over 3.0m, however this intersection only reporting 50% core recovery. LAT has not independently confirmed these historic assays, but the assay results suggests that the anomalous zone is potential variably mineralized and contains encouraging gold values. Each zone extends for over 3km according to geophysical data.

Dr. Waldo Perez, QP and Sr. Vice-President of Exploration states that "...the decision to initiate the Phase I drill programs comes after results of our geophysical surveys showed that the gold soil anomalies are related to untested geophysical anomalies that extend down deep over 250m along the geologic contact between the diatreme breccia and the basement rocks. This relationship gives us confidence that the results of this initial drill program will provide a solid foundation going forward...".

Selected historic trenches excavated by Anglo Gold at La Carolina in the diatreme breccia near the contact with the basement rock, have been chip-channel sampled by LAT to confirm the historical results. Significant assay received to date include:



Mogote Zone:
Trench 1: 30m averaging 1gpt Au (including 12m averaging 1.6gpt Au)
La Luisa Zone:
Trench 16: 50m @ 0.6gpt Au
Trench 3: 60m @ 0.5gpt Au


The assay results received confirm the order of magnitude of the historic results. Further assays are pending.

La Carolina Project has a 4000 soil samples database collected by Anglo Gold in 1989 that generated several significant gold soil anomalies that remain untested. LAT collected 64 soil samples from various previously identified soil anomalies to test the historic data and our results returned an average of 20 ppb with 4 samples over 100 ppb and one of 395 ppb Au, confirming the order of magnitude of the historic data.

"...During the past three months, LAT has input all the historic data and the recent exploration results into a GIS data base; preliminary interpretation of the evolving La Carolina model suggests that there are potentially two styles of gold mineralization present at La Carolina; one being lower grade mineralization associated with certain phases of the diatreme breccia complex and the second being higher grade mineralization possibly reflecting remobilization, concentration and deposition in the basement rocks in proximity to the contact with the diatreme complex. This presents a new and important twist on the resource potential at La Carolina... reports David Wahl, P.Eng., P.Geo., President and CEO.

All of the lithogeochemical samples were collected by geologists or geology student under the supervision of a geologist. Each individual sample weighted between 2 to 5 kg and was collected in a plastic bag, tagged with a pre-numbered sample tags and tightly closed with plastic tape. Samples were bagged in rice bags and the bags secured with a pre-numbered company tags and transported by bus 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 minus 200 mesh. The soil samples were dried and sieved and -80# and split. 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 with AA finish using 50 gram sample. For the multi-elements the samples were dissolved in Aqua Regia at 120 degrees C and read in ICP-OES. Accuracy of results is tested through the systematic inclusion of certified reference standards.

Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of exploration opportunities in South America.

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.

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