Jay Taylor Interviews Miles Rideout of Latin American Minerals (TSX.V - LAT) - Video Posted on Investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, February 16, 2011 - Jay Taylor, Editor of J.
Taylor's Gold, Energy & Tech Stocks Report, and Publisher
atwww.jaytaylormedia.com interviews Miles Rideout, President & CEO of Latin
American Minerals (TSX.V - LAT ).
This video is one of Jay Taylor's "Face the Analyst" series of interviews, and
is available for viewing on investmentpitch.com. If this link is not enabled,
please visit www.investmentpitch.com and enter "Latin American" in the search
box.
Latin American Minerals Highlights
Latin American Minerals is focused on the drilling and development of its Paso
Yobai Gold Project and is also exploring a Niobium and Rare Earth Element
project, both located in Paraguay.
They recently completed the acquisition of a 70% interest in the mining license
held by Minera Guaira S.A. near Paso Yobai, Paraguay. The Paraguayan government
has approved the transfer of this 70% interest to Latin American Minerals'
Paraguayan wholly-owned subsidiary. The transfer document has been signed by
both parties, and the company has completed the final option payment of
US$1,314,000 to Minera Guaira.
The parties now form a 70/30 joint venture with Latin American as the operator.
The party that does not contribute its pro-rata share of costs will be diluted
on a straight line basis. Should an interest be diluted to 15% or less, it will
automatically be reduced and converted to a 1% interest and will receive a 3%
net smelter returns royalty. The company does not anticipate that Minera Guaira
shall contribute to the joint venture expenses. Consequently, Latin American can
earn a 99% interest in the property by investing approximately US$5 million in
project operations and development. They currently hold approximately US$12
million in their treasury.
The property subject to the license is fully permitted for mining and covers the
"Discovery Trend" where Latin American has excavated 11 large mechanical
trenches along a strike length of approximately 1 kilometre and has executed 47
diamond drill holes totaling 6,600 metres, returning up to 26.6 grams per tonne
gold over 6.5 metres. This work has confirmed the continuity of the gold
mineralization to a depth of 100 metres, and remains open to depth.
The 2011 Paso Yobai exploration and development program will consist of an
aggressive diamond drilling program to expand the existing mineralized envelope
along the largely unexplored 1100 metre northwest extension of the Discovery
Trend. The 2011 program will also include large scale trenching to provide feed
material for the new sample processing plant. Sample production results will be
used to calibrate drilling and trenching results to more confidently calculate a
global resource for the large Paso Yobai mineralized area.
Following a one year consultation and engineering program, the plant has been
commissioned to Sepro Minerals Systems of Langley, British Columbia. The build
time for the plant will be approximately 16 weeks during which time local civil
engineering, infrastructure and environmental planning will be undertaken in the
Paso Yobai area. Factoring in construction, delivery, installation, and testing,
the company anticipates that the plant will be operational by June 30, 2011.
They have allocated a budget of US$1.6 million for capital costs, infrastructure
costs and contingencies.
During 2010, the company installed a precursor laboratory scale gravity
separation plant at Paso Yobai consisting of a small rod mill batch feeding a
small L40 Falcon gravity concentrator to confirm the proposed gold recovery
methodology. The new "Modular Gold Recovery Plant" represents a prudent and
effective scale-up to a much larger plant that is already in advanced design at
Sepro Mineral Systems. The plant currently being constructed will initially
process clay-rich weathered material that overlies the harder rock at below
approximately 30 metres depth.
The process equipment includes a scrubber to liberate free gold from the clay
ore, prescreening to remove oversize, grinding to liberate gold in the minus 10
mm fraction and gravity recovery using two Falcon SB 750 high speed centrifuges
with Autopac for automated process control. The plant is designed to process
hard rock at a rate of 5 tonnes per hour, assuming the installation of a
suitable crusher plant ahead of the scrubber unit and considering the resulting
additional grinding requirement. Consequently, the production rate for clay rich
weathered material over a several year period is expected to be significantly
higher than the rated 5 tonnes per hour and will be determined during sampling
operations. Management, civil engineering, construction and operating personnel
are in place in Asuncion, Paraguay's capital city, and 150 kilometres away at
the Paso Yobai project site.
Miles Rideout, the President and CEO of Latin American Minerals observed 'We now
have 70% of the Minera Guaira concession on the large Discovery Trend and a
formalized joint venture. We are sufficiently financed to explore Paso Yobai
aggressively. Our objective during 2011 is to confirm this project as a very
large mineralized gold system by aggressively drilling, trenching and
establishing a reliable correlation between drill, trench sample results and
actual gold production from our processing plant. It should be an exciting
year!'
On February 16(th), they announced the signing of a non-binding Letter of Intent
outlining the potential earn-in and joint venture development of the company's
Itapoty Diamond Project by Olivut Resources Limited (TSX.V - OLV). Olivut
Resources is focused on diamond exploration in Canada and Uruguay.
The 100% owned and controlled Itapoty Diamond Project is located in eastern
Paraguay and consists of four concessions totaling approximately 225,000
hectares.
For more information about Latin American Minerals, visit their website at
www.latinamericanminerals.com, or phone 416-902-8558.
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bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 16.02.2011 - 23:30 Uhr
Sprache: Deutsch
News-ID 51590
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