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VANCOUVER, Sept. 9, 2013 /CNW/ - Plata Latina Minerals Corporation ("Plata Latina" or the "Company") is pleased to announce results from three additional drill holes completed from its most recent drill program on its Naranjillo project located in Guanajuato State, Mexico.
Drill results continue to indicate the presence of a significant epithermal silver-gold vein system (summary of drill results can be found below). The highest values were found in BDD-N-43, in which a hanging-wall split of the Villa vein averages 2,590 g/t silver and 5.01 g/t gold over 0.75 metres. (See Figures 1 and 2 at the end of this press release).
These drill results have extended the strike-length of high-grade silver-gold mineralization on the Villa vein system for an additional distance of almost 300 metres, which now demonstrates a minimum strike length of approximately 500 metres for high-grade silver-gold along the Villa vein system. The Villa vein system remains open both to the north and the south, presenting additional exploration opportunities.
These latest high-grade drilling results come near the intersection of the Villa vein system, the Escondida vein system and the Sibila vein, a structurally complex zone that offers targets for future exploration (see Figure 3). Additionally, a distance of almost two kilometres along the Sibila vein separates the high-grade results from BDD-N-43 from an earlier intercept in BDD-N-2 on the Sibila vein (440 g/t Ag, 3.01 g/t Ag over 0.37 metres). This structural combination of the Villa vein system with the Sibila vein adds an additional 2,000 metres to the exploration potential to the south of the most recent high-grade results in BDD-N-43 (Figure 4).
Drilling on the Naranjillo property has produced significant silver-gold values over a distance of approximately five kilometres. These latest drill results present continuing evidence for the presence of major epithermal silver-gold vein district at Naranjillo in the style of other, historical, Mexican high-grade silver-gold vein districts.
| True Width
|BDD-N-43||695.72||696.47||0.75||0.40||2,590||5.01||Villa Vein (HW Split)|
Assays and Quality Assurance/Quality Control
Commercially obtained standards were inserted between every tenth core sample as were blanks obtained from barren rock in nearby road material quarries. Chemex laboratory also inserted a blank and a standard every 20 samples. Rejects and pulps from the high grade intersection in hole BDD-N-10 were both re-assayed at Act Labs and the average of these two assays and the original Chemex assay are included in the results as previously reported.
Chemex has no relationship with Plata beyond commercially providing analytical services to the Company. The Chemex North Vancouver, Canada, analytical facility is certified to standards within ISO 9001:2008 and has received accreditation to ISO/IEC 17025:2005 from the Standards Council of Canada (SCC) for the analytical methods used on Plata samples. Both the Chemex Guadalajara and Zacatecas, Mexico, prep labs are certified to standards within ISO 9001:2008.
The drilling results contained in this news release has been reviewed, approved and verified by Michael Clarke, a Qualified Person as defined under National Instrument (NI) 43-101. Mr. Clarke is the President and CEO of Plata Latina Minerals and has been a geologist for more than 40 years, including extensive work on numerous epithermal gold and silver vein deposits in Mexico.
About Plata Latina Minerals
Plata Latina Minerals is a Canadian exploration company with a portfolio of five silver-gold properties situated in the prolific Mexican Silver Belt focused on discovering new silver-gold vein districts. The Company is currently concentrating its drilling efforts on its Naranjillo and Vaquerias properties. Plata Latina's first discovery hole was drilled at Naranjillo, which is approximately 35 kilometres southeast of the world-class Guanajuato epithermal silver-gold vein district in Mexico, and returned 3,181 g/t silver and 13.28 g/t gold over 10.95 metres. Plata Latina's expertise in the ore horizon concept and extensive experience in Mexico provides a competitive edge for discovery of new districts between old historic deposits. Its highly experienced management team and board are focused on developing its portfolio of high-potential targets and exploring additional value-creation opportunities. The Company trades on the TSX Venture Exchange under "PLA".
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and other statements that are not historical facts including statements about the intended use of proceeds from the bought deal private placement and planned exploration program. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from target results and the results or events predicted in these forward-looking statements. As a result, investors are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, Plata Latina disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking information reflects the current expectations or belief of the Company based on information currently available and such information is subject to a number of assumptions, risks and uncertainties, including risks related to exploration, uncertainties related to financings; the uncertainties of interpreting exploration results and the other risks associated being a mineral exploration company.
SOURCE: Plata Latina Minerals
For further information:
Letitia Cornacchia, Vice President, Investor Relations and Corporate Communications
Telephone: +1 416 860 6310
Email: [email protected]