Latin Metals Inc. reported that its option partner, Daura Gold Corp. ("Daura"), has commenced Phase One diamond drilling at the Cerro Bayo Gold-Silver Project, located in Santa Cruz Province, Argentina. Cerro Bayo is being advanced under an option agreement pursuant to which Daura can earn up to an 80% interest in the project through staged cash payments and exploration expenditures.
All drilling and exploration activities at Cerro Bayo are fully funded by Daura. The Phase One drill program comprises approximately 22 diamond drill holes totaling 1,500 metres, designed to test 15 priority exploration targets generated from the integration of historical geochemical sampling and recent induced polarization ("IP") geophysical surveys, including gradient array IP and IP profiling. In the northern target area, three pole-dipole IP profile lines have outlined eight drill targets.
Initial drilling will focus on three priority targets, to be tested by ten diamond drill holes totaling approximately 500 metres. In the southern target area, seven priority drill targets have been defined and will be tested by 14 diamond drill holes totaling approximately 1,000 metres. The objective of the Phase One program is to confirm the presence, continuity, and orientation of mineralized structures at depth, while advancing multiple target areas toward potential follow-up drilling.
