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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.
Hole |
From
(m) |
To
(m) |
Interval
(m) |
True Width
(m) |
Ag
(g/t) |
Au
(g/t) |
Vein |
BDD-N-41 |
673.57 |
674.37 |
0.80 |
0.45 |
331 |
1.17 |
Villa Vein |
BDD-N-42 |
530.17 |
530.89 |
0.72 |
0.40 |
1 |
<0.005 |
Naranjillo Vein |
BDD-N-43 |
695.72 |
696.47 |
0.75 |
0.40 |
2,590 |
5.01 |
Villa Vein (HW
Split) |
BDD-N-43 |
743.59 |
746.50 |
2.91 |
1.50 |
11 |
0.14 |
Villa Vein |
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.
Qualified Person
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
PDF available at:
http://stream1.newswire.ca/media/2013/09/09/20130909_C5164_DOC_EN_30497.pdf