Latin Metals and Vale Agree Data Purchase on Para Copper Project, Peru
Latin Metals (TSXV: LMS) (OTCQB: LMSQF) has executed a data purchase agreement with Vale Exploration Peru for their Para copper project in Peru. The agreement provides Latin Metals with comprehensive exploration data, including geological mapping, 282 rock sample assays, and geophysical survey results. In exchange, Vale receives a Right of First Offer valid from prefeasibility study completion until 2035.
The Para Copper Project, spanning 1,900 hectares in Peru's Coastal Copper Belt, has shown promising surface copper mineralization with values ranging from 251 ppm to 1,505 ppm, and molybdenum up to 46 ppm. Two primary anomalous zones have been identified, including a 2,000m x 1,000m area. Vale's previous work identified four drill targets and completed drill permitting, suggesting future permits could be obtained.
Latin Metals (TSXV: LMS) (OTCQB: LMSQF) ha stipulato un accordo per l'acquisto di dati con Vale Exploration Peru per il loro progetto rame Para in Perù. L'accordo fornisce a Latin Metals dati di esplorazione completi, tra cui mappatura geologica, 282 analisi di campioni di roccia e risultati di indagini geofisiche. In cambio, Vale riceve un Diritto di Prima Offerta valido dalla conclusione dello studio di prefattibilità fino al 2035.
Il Progetto Rame Para, che si estende su 1.900 ettari nella Coastal Copper Belt del Perù, ha mostrato promettente mineralizzazione di rame in superficie con valori che vanno da 251 ppm a 1.505 ppm, e molibdeno fino a 46 ppm. Sono state identificate due principali zone anomale, tra cui un'area di 2.000m x 1.000m. Il lavoro precedente di Vale ha identificato quattro obiettivi di perforazione e completato i permessi di perforazione, suggerendo che potrebbero essere ottenuti permessi futuri.
Latin Metals (TSXV: LMS) (OTCQB: LMSQF) ha ejecutado un acuerdo de compra de datos con Vale Exploration Peru para su proyecto de cobre Para en Perú. El acuerdo proporciona a Latin Metals datos de exploración completos, que incluyen mapeo geológico, 282 ensayos de muestras de roca y resultados de encuestas geofísicas. A cambio, Vale recibe un Derecho de Primera Oferta válido desde la finalización del estudio de prefactibilidad hasta 2035.
El Proyecto de Cobre Para, que abarca 1,900 hectáreas en la Costa del Cobre del Perú, ha mostrado una prometedora mineralización de cobre en superficie con valores que oscilan entre 251 ppm y 1,505 ppm, y molibdeno de hasta 46 ppm. Se han identificado dos zonas anómalas principales, incluyendo un área de 2,000m x 1,000m. El trabajo previo de Vale identificó cuatro objetivos de perforación y completó la obtención de permisos de perforación, sugiriendo que se podrían obtener permisos futuros.
라틴 메탈스 (TSXV: LMS) (OTCQB: LMSQF)는 페루의 발레 탐사 페루와의 데이터 구매 계약을 체결하였습니다. 이 계약은 라틴 메탈스에게 포괄적인 탐사 데이터를 제공하며, 여기에는 지질 맵핑, 282개의 암석 샘플 분석 및 지구물리 탐사 결과가 포함됩니다. 대신 발레는 2035년까지 완료된 타당성 조사 후의 우선 제안권을 받습니다.
파라 구리 프로젝트는 페루의 해안 구리 벨트에 위치한 1,900헥타르에 걸쳐 있으며, 251ppm에서 1,505ppm 범위의 표면 구리 광물화가 유망하게 나타나고 있으며, 몰리브덴은 최대 46ppm입니다. 두 개의 주요 비정상 구역이 식별되었으며, 그 중 하나는 2,000m x 1,000m 면적입니다. 발레의 이전 작업은 네 개의 드릴 타겟을 식별하고 드릴링 허가를 완료하여 향후 허가를 받을 가능성이 있음을 시사합니다.
Latin Metals (TSXV: LMS) (OTCQB: LMSQF) a signé un accord d'achat de données avec Vale Exploration Peru pour leur projet de cuivre Para au Pérou. L'accord fournit à Latin Metals des données d'exploration complètes, y compris la cartographie géologique, 282 analyses d'échantillons de roche et les résultats d'études géophysiques. En échange, Vale reçoit un Droit de Première Offre valable depuis la conclusion de l'étude de préfaisabilité jusqu'en 2035.
Le Projet Cuivre Para, s'étendant sur 1 900 hectares dans la Coastal Copper Belt du Pérou, a montré une prometteuse minéralisation de cuivre en surface avec des valeurs variant de 251 ppm à 1 505 ppm, et du molybdène jusqu'à 46 ppm. Deux zones anormales principales ont été identifiées, y compris une zone de 2 000 m x 1 000 m. Le travail précédent de Vale a identifié quatre cibles de forage et finalisé les autorisations de forage, suggérant que des autorisations futures pourraient être obtenues.
Latin Metals (TSXV: LMS) (OTCQB: LMSQF) hat eine Datenkaufvereinbarung mit Vale Exploration Peru für ihr Kupferprojekt Para in Peru abgeschlossen. Die Vereinbarung stellt Latin Metals umfassende Explorationsdaten zur Verfügung, einschließlich geologischer Kartierung, 282 Gesteinsprobenanalysen und geophysikalischer Umfrageergebnisse. Im Gegenzug erhält Vale ein Recht auf Erstangebot, das von der Fertigstellung der Machbarkeitsstudie bis 2035 gültig ist.
Das Para Kupferprojekt, das sich über 1.900 Hektar im Coastal Copper Belt in Peru erstreckt, hat vielversprechende Kupfermineralisierungen an der Oberfläche mit Werten von 251 ppm bis 1.505 ppm gezeigt, sowie Molybdän bis zu 46 ppm. Es wurden zwei Hauptanomaliezonen identifiziert, darunter ein Bereich von 2.000 m x 1.000 m. Vorherige Arbeiten von Vale haben vier Bohrziele identifiziert und die Bohrgenehmigungen abgeschlossen, was darauf hindeutet, dass zukünftige Genehmigungen erhalten werden könnten.
- Acquisition of extensive exploration data without cash payment
- Four pre-identified drill targets from Vale's previous work
- Historical drill permits already obtained, facilitating future permitting
- Strong copper mineralization identified (up to 1,505 ppm)
- None.
VANCOUVER, British Columbia, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) is pleased to announce that it has executed a data purchase agreement (the “Agreement”), with Vale Exploration Peru S.A.C., a wholly owned subsidiary of Vale Canada Limited (“Vale”). Under the terms of the Agreement, Vale has delivered a comprehensive package of exploration data covering Latin Metals’
“Vale’s extensive exploration work at Para provides invaluable technical insight, significantly enhancing our ability to advance the project with a more targeted and cost-effective approach," said Keith Henderson, CEO of Latin Metals. "By acquiring this data, we gain access to years of detailed exploration results that would have required substantial financial and time investments to replicate. This agreement not only accelerates our exploration timeline but also positions Latin Metals to make informed, strategic decisions as we move towards drill targeting. Importantly, we retain full ownership and control over the project, while Vale secures a ROFO should we advance to prefeasibility."
Exploration Data Overview
The dataset acquired from Vale includes:
- Geological mapping at a 1:10,000 scale
- 282 rock sample assay results
- Geophysical induced polarization survey results (18-line km, 400m spacing)
- Ground magnetic and radiometric survey data (44-line km, 200m spacing)
The acquisition of this data represents a significant advantage, as it allows Latin Metals to leverage Vale’s extensive prior work, minimizing risk and accelerating the next stages of exploration. Vale’s exploration efforts identified four drill targets and historically Vale completed drill permitting, providing a strong indication that Para is a projects where new drill permits could be obtained.
Para Copper Project Background
The Para Copper Project is located within Peru’s Coastal Copper Belt, a well-established mining region known for hosting world-class copper deposits. This area benefits from well-developed infrastructure, including road access, power, and proximity to ports, facilitating efficient exploration and potential future development. The project covers 1,900 hectares, where Latin Metals' exploration has identified extensive surface copper mineralization. Geochemical sampling has returned copper values ranging from 251 ppm to 1,505 ppm, along with molybdenum mineralization up to 46 ppm. Two primary anomalous zones have been delineated, including a 2,000m x 1,000m area, highlighting the project's strong potential for copper discoveries.
Next Steps
Latin Metals’ technical team will integrate and analyze the acquired data in the coming weeks. This review will refine exploration models and support future drill targeting, allowing the Company to prioritize high-potential areas with greater confidence.
About Latin Metals
Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America. The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration. Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration.
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Qualified Person
Keith J. Henderson, P.Geo., is the Company's qualified person as defined by NI 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company.
On Behalf of the Board of Directors of
LATIN METALS INC.
“Keith Henderson”
President & CEO
For further details on the Company readers are referred to the Company's web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR+ at www.sedarplus.com.
For further information, please contact:
Keith Henderson
Suite 890 - 999 West Hastings Street,
Vancouver, BC, V6C 2W2
Phone: 604-638-3456
E-mail: info@latin-metals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the anticipated content, commencement, timing and cost of exploration programs in respect of the Property and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves on the Properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Argentine projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company’s ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Properties, including the geological mapping, prospecting and sampling programs being proposed for the Properties (the "Programs"), actual results of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, any current or future property acquisitions, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading as well as those factors discussed under the heading “Risk Factors” in the Company’s annual management’s discussion and analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR+ website at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein.
FAQ
What exploration data did Latin Metals (LMSQF) acquire from Vale for the Para copper project?
What are the terms of the Right of First Offer (ROFO) granted to Vale in the LMSQF data purchase agreement?
What are the key mineralization findings at Latin Metals' (LMSQF) Para copper project?
How large is Latin Metals' (LMSQF) Para copper project and where is it located?
