Latin Metals has expanded its exploration territory in north-west Argentina with the acquisition of the 68,000-hectare (ha) Terraza copper exploration project.

This purchase by staking positions the company as a first mover in exploring sediment-hosted copper deposits in an emerging belt, now overseeing more than 500,000ha of exploration ground.

The company’s exploration strategy in north-west Argentina is dedicated to uncovering the potential of sediment-hosted copper deposits.

The initial phase involves a comprehensive drainage survey aimed at collecting more than 1,500 samples to screen and prioritise the vast 500,000ha land area.

This hands-on exploration method is crucial for the development of emerging belts.

The drainage survey will be complemented by systematic prospecting, mapping and sampling of mineralised outcrops.

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By GlobalData

To date, Latin Metals has collected 196 stream sediment samples from around 60% of the Mirador copper project area. Sample preparation has been completed by a commercial laboratory.

However, the analysis using the company’s portable X-ray fluorescence device has faced delays due to unexpected equipment servicing by the manufacturer.

Despite this setback, the analysis of mineralised rock samples at Mirador continues, with results anticipated soon.

Last year, in November, Latin Metals reported significant advancements at its Organullo Project.

The project, which is subject to an existing option agreement with AngloGold Argentina Exploraciones, a subsidiary of AngloGold Ashanti, has seen AngloGold complete an extensive airborne geophysical survey.

The survey collected crucial magnetic and radiometric data across the majority of the project area.

Completion of the geophysical survey by AngloGold is a pivotal step in the exploration process, providing valuable insights into the subsurface geology of the area.

At that time, Latin Metals CEO Keith Henderson said: “This extensive geophysical survey is a significant step for the Organullo project. With the survey complete, processing is in progress, and we look forward to seeing the results of the survey in due course.

“The data and interpretation will be integrated with existing data collected by AngloGold to help finalise drill targets. AngloGold Ashanti has submitted a drill permit for 11,900m and plans to commence drilling once this permit and other licences are received.”