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

The property, prospective for uranium and rare earths, has never been drilled, the company said

Mounds of rare earths
The project consists of 133 mineral claims covering approximately 1,621 hectares in Ontario

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.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: Latin American Minerals Inc

Price: 0.01 CAD

TSX-V:LAT
Market: TSX-V
Market Cap: $1.37 m
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