Latin Metals Identifies Geophysical Anomalies at Cerro Bayo, Santa Cruz, Argentina

Rhea-AI Summary

Latin Metals (TSXV: LMS) (OTCQB: LMSQF) has identified significant geophysical anomalies at its Cerro Bayo project in Santa Cruz Province, Argentina. The company has acquired historical exploration data including a 130-line-km gradient array Induced Polarization (IP) survey, which revealed pronounced chargeability and resistivity anomalies.

The survey highlights include:

• Strong correlation between chargeability anomalies and previously mapped mineralized structures
• Anomalous geophysical trends open to the northwest
• Alignment of Eugenia and Gabriela target areas with highest-intensity geophysical anomalies
• Discovery of new exploration targets including Julia/Elena and Lara zones

The Cerro Bayo project is located in the Deseado Massif, a prolific mining region known for world-class gold and silver deposits. The project's mineralization is consistent with epithermal gold-silver systems, building on historical data compiled by previous operators including Barrick Gold.

Positive

• Identification of significant new geophysical anomalies indicating potential mineralization
• Strong correlation between chargeability anomalies and mapped structures
• Discovery of new exploration targets (Julia/Elena and Lara zones)
• Location in prolific mining region with proven gold-silver deposits

Negative

• Geophysical survey only covers portion of property
• Results are early-stage exploration findings without confirmed economic value

VANCOUVER, British Columbia, March 02, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. (“Latin Metals” or the “Company”) - (TSXV: LMS) (OTCQB: LMSQF) is pleased to announce the identification of significant geophysical anomalies at its Cerro Bayo project (“Cerro Bayo” or the “Project”), located in the Deseado Massif, Santa Cruz Province, Argentina. The Company has completed purchase of historical exploration data collected by a previous operator at the project, including a 130-line-km gradient array Induced Polarization (“IP”) geophysical survey.

The survey highlights pronounced chargeability and resistivity anomalies, spatially associated with historical drill targets identified by Barrick, and there is a strong correlation of chargeability anomalies with previously mapped mineralized structures. Importantly the anomalous geophysical trends are open to the northwest (Figure 1).

Figure 1: Interpretation of gradient array IP data at Cerro Bayo showing chargeability (left) and resistivity (right) anomalies coincident with mapped mineralized veins and open to the northwest.

Geophysical survey interpretation

Gradient array IP is a well-established geophysical technique widely used in the exploration of low-sulfidation epithermal vein deposits, such as those found in the Deseado Massif. In these environments, chargeability anomalies typically indicate the presence of sulfide mineralization, while high resistivity values are often associated with quartz-rich and chalcedonic vein systems. Coincident high chargeability and high resistivity is the classic geophysical signature that geophysicists want to see in the Deseado Massif. We see this geophysical signature at Cerro Bayo (Figure 1) where outcropping structures and veins correlate well with high chargeability and high resistivity zones. The trend seen in the outcrops and the geophysical data is N30W, which is not only observed at Cerro Bayo, but also at other exploration projects and producing mines in the Deseado massif.

Notably, the Eugenia and Gabriela target areas—historically outlined by Barrick—align with the highest-intensity geophysical anomalies. Additionally, while the historical survey covers only a portion of the Cerro Bayo property, all major anomalies remain open to the northwest, suggesting further potential. New exploration targets, including the Julia/Elena and Lara zones, have also emerged, revealing unrecognized strike extensions that warrant additional follow-up.

Cerro Bayo and Regional Significance

Cerro Bayo is situated within the highly prospective Deseado Massif, a prolific mining region known for its world-class gold and silver deposits. The area has a strong history of mining activity and hosts several producing and past-producing mines, underscoring its significant exploration potential.

The mineralization at Cerro Bayo is consistent with epithermal gold-silver systems, which have yielded high-grade deposits across the region. Latin Metals’ exploration efforts at the project benefit from an extensive historical dataset compiled by previous operators, including Barrick Gold, providing a strong foundation for ongoing and future work.

Argentina’s mining sector continues to attract growing foreign investment, driven by its rich mineral endowment and an evolving regulatory framework. The Santa Cruz province, in particular, plays a key role in the country’s gold and silver production. Latin Metals’ Cerro Bayo and La Flora projects align with this broader industry trend, reflecting the Company's commitment to systematic exploration and value generation through strategic partnerships.

Latin Metals’ recent exploration work at Cerro Bayo builds on Barrick’s historical data. In late 2024, the Company expanded mapping efforts at Cerro Bayo and initiated exploration at La Flora for the first time. This work has standardized lithological interpretations across both areas, reinforcing the potential for further discoveries.

Latin Metals Attends PDAC 2025 – Booth #2329

Latin Metals is currently attending PDAC 2025 in Toronto from March 2-5, 2025, engaging with investors and industry leaders to discuss its prospect generator model and exploration projects in Argentina & Peru. Visit us at Booth #2329 or schedule a meeting at info@latin-metals.com

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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QA/QC

The geophysical survey conducted over a total of 133 linear kilometers following a southwest to northeast orientation (N50E). Within the Project, the surveyed lines range in length from 380 meters to 7.9 kilometers, with a separation of 250 meters between each line. The geophysical survey was executed utilizing an IP transmitter IRI VIP 3000 (3.0 kW), with electrodes deployed in direct contact with the ground via stainless steel rods. The survey employed a Gradient Array configuration, featuring a 25-meter spaced Dipole, with Bipole lengths set at 2,000 and 3,000 meters per designated zone.

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8a005c63-e9f7-40b8-8e9f-8307d76953d0

FAQ

What geophysical anomalies did Latin Metals (LMSQF) discover at Cerro Bayo?

The company identified pronounced chargeability and resistivity anomalies through a 130-line-km gradient array IP survey, with anomalies correlating with mineralized structures and remaining open to the northwest.

Where is Latin Metals' (LMSQF) Cerro Bayo project located and what type of deposit is it?

Cerro Bayo is located in the Deseado Massif, Santa Cruz Province, Argentina, and represents a low-sulfidation epithermal vein deposit system.

What are the new exploration targets identified by Latin Metals (LMSQF) at Cerro Bayo?

The company identified the Julia/Elena and Lara zones as new exploration targets, revealing previously unrecognized strike extensions.

How does the historical Barrick data align with Latin Metals' (LMSQF) recent findings?

The Eugenia and Gabriela target areas, historically outlined by Barrick, align with the highest-intensity geophysical anomalies found in the recent survey.