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Latin Metals Inc. Reports Initial Drill Results From Cerro Bayo Project In Argentina
Latin Metals Inc. reported initial drill results from the partner-funded Phase I drill program completed by Daura Gold Corp. at the Cerro Bayo Project in Santa Cruz Province, Argentina. The initial 1,850-metre drill program successfully intersected multiple zones of gold and silver mineralization across several target areas, including high-grade intervals grading up to 8.83 g/t gold and 739 g/t silver. Results confirm the presence of a large, fertile low-sulphidation epithermal system within the Deseado Massif — one of the world’s premier silver-gold districts. Drilling intersected broad zones of silver mineralization beginning at surface in multiple holes, highlighting the scale and strength of the hydrothermal system at Cerro Bayo. Near-surface mineralization of this nature may indicate potential for broader bulk-tonnage mineralized zones surrounding higher-grade feeder structures. Mineralization was intersected in multiple drill holes across several target areas during the first systematic drill campaign completed on the property, suggesting Cerro Bayo could potentially host a district-scale hydrothermal system. Drill Hole CBD26-001: 16.35m @ 0.37 g/t gold and 88.96 g/t silver from 28.85m (1.72 g/t gold equivalent), including 3.60m @ 1.43 g/t gold and 321.7 g/t silver (6.3 g/t gold equivalent). Drill Hole CBD26-005: 15.00m @ 0.07 g/t gold and 120.8 g/t silver from 58.7m (1.90 g/t gold equivalent), including 2.00m @ 0.11 g/t gold and 427.4 g/t silver (6.6 g/t gold equivalent), and 1.70m @ 0.16 g/t gold and 120.72 g/t silver (2.0 g/t gold equivalent). 3.60m @ 0.18 g/t gold and 389.8 g/t silver from 86.4m (6.08 g/t gold equivalent), including 1.80m @ 0.33 g/t gold and 739.53 g/t silver (11.53 g/t gold equivalent). Drill Hole CBD26-012: 11.95m @ 2.0 g/t gold and 6.8 g/t silver from 11.45m (2.1 g/t gold equivalent), including 1.95m @ 8.83 g/t gold and 18.86 g/t silver (9.1 g/t gold equivalent). Daura calculated Gold Equivalent using Gold + (Silver /66), assuming a recovery of 80% silver and 100% gold. Daura’s silver conversion uses a factor of 66. Intersect lengths are recorded core lengths and true widths are not known at this time due to the early stage of the exploration at Cerro Bayo. Additional highlights of drill results presented in Table 1 below. The 1,850-metre program comprised 18 diamond drill holes testing 10 priority targets across the property including the Ingrid, Julia, Elena, and Eugenia targets. Significant gold and silver mineralization was intersected in multiple drill holes, including several higher-grade intervals that demonstrate the potential of the epithermal system. Additionally, broad zones of silver mineralization were encountered directly from surface in multiple holes including in CBD26-001, where the upper 43.1m grades 44.3 g/t silver, and in CBD26-005, where the upper 34.1m grades 23.2 g/t silver. The presence of consistent mineralization starting at surface is geologically significant, as it demonstrates that the epithermal gold-silver system is active and well-developed in the near-surface environment at Cerro Bayo — opening the door to potential shallow, bulk-tonnage style targets in addition to higher-grade vein systems at depth. These results confirm the presence of a fertile epithermal gold-silver system at Cerro Bayo and validate the Company’s targeting strategy within this district-scale land package. Multiple holes encountered zones of mineralization, including both broad lower-grade halos and higher-grade intervals consistent with the style of mineralization seen in the surrounding Deseado Massif, home to several major producing mines and advanced projects. Mineralization remains open along strike at all targets. Daura is currently completing full interpretation of the data and will provide further updates to Latin Metals as additional targets and follow-up opportunities are refined. Daura is planning a Phase II drill program in the Third Quarter 2026, expanding exploration across both Cerro Bayo and La Flora. At Cerro Bayo, Phase II will focus on follow-up drilling, including step-out and extension holes designed to test continuity and further define zones identified during Phase I as well as testing additional targets which have not been drilled to date. At La Flora, the program will include initial drill testing of this emerging high-grade target. La Flora is a recently defined high-priority, high-grade target, following Latin Metals’ identification of visible gold and high-grade epithermal mineralization at surface. Previous surface sampling returned grades of up to 82 g/t gold and 1,239 g/t silver. Visible gold occurs within silica-rich vein material, consistent with high-grade epithermal systems. These structures are partially concealed beneath shallow overburden, suggesting potential for mineralization extending along strike and at depth. Cerro Bayo is fully permitted for drilling, allowing for continued advancement of follow-up work. At La Flora, drill permitting is in progress and is expected to be completed in due course, enabling initial drilling as part of the Phase II program. Under the terms of the option agreement, Daura may earn up to a 75% interest in the Project (80% with a top-up right) by completing staged exploration, including aggregate payments of USD 1.7 million to Latin Metals (USD 300,000 paid), aggregate payments of USD 400,000 to the underlying vendor (USD 250,000 paid), completion of exploration work commitments including 28,000 metres of drilling (1,850 metres completed), and the preparation of a NI 43-101 technical report containing a mineral resource estimate. The Cerro Bayo and La Flora projects are located within the Deseado Massif, one of the world’s most prolific precious metals districts.