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Latin American Minerals poised for exploration at Ontario uranium and rare earth property

The date of: 2019-01-17
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Source:Proactive Investors UK

Latin American Minerals Inc (CVE:LAT) told investors it plans to complete a geophysical exploration program on its Butt township property in Ontario, Canada and has inked a contract with Generic Geo Inc, which will manage the work.

The property, prospective for uranium and rare earths, has never been drilled, but several historical trenching and small-scale mining operations have occurred there.

Notably, it is next to Ontario Graphite's Kearney mine property.Notably, it is next to Ontario Graphite's Kearney mine property.

READ: Latin American Minerals Inc sells Paso Yobai gold project as it shifts focus

Advanced prospects at the site include the William Elliot and Mica Lake prospects, discovered a century ago, and from which highly selective grab samples returned up to 79.5 % uranium along with high-grade rare earth elements.

The project consists of 133 mineral claims covering approximately 1,621 hectares in Butt Township, District of Nipissing, Ontario.

The latest work consists of a two-phase exploration program.

The first will consist of high-resolution drone magnetic airborne geophysics, which will help to identify controlling structures and lithologies that may be prospective for mineralization, said Latin American.

The second phase, following a review of the magnetic survey, will consist of induced polarization (IP) ground geophysics over the most compelling targets, which will help to identify targets at a depth which may be prospective for mineralization.

Following these programs and a review of results, the company said it should be able to prepare a trenching and diamond drilling program.

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