Location
The La Carolina property is located in the La Carolina District of San Luis Province in west-central Argentina and
is situated at an elevation of approximately 1600 metres in the Sierras de San Luis. La Carolina lies 85 kilometres north of
the provincial capital, San Luis, and is accessible year-round via paved roads.
Technical Details
The area forms part of the Sierra Pampeanas, an early to mid-Paleozoic metamorphic terrane comprising Cambrian to Devonian
metamorphic and intrusive rocks that have been intruded by a NW-trending belt of Mio-Pliocene volcanic centers with which
gold mineralization is associated. This belt is approximately 80 kilometres long and about 10 kilometres wide in the Province
of San Luis but extends further 400 kilometres NW along the Pascua trend that hosts over 30 m Oz of gold in the border with
Chile in two deposits Pascua and Veladero (Barrick).
The San Luis extension of the volcanic rocks represents the easternmost expression of potassic magmatism associated with
the eastern edge of the Tertiary flat slab subduction process under the Andean belt that generated significant mineral
deposits in Argentina including Xstrata's Bajo de la Alumbrera (600 Mt@ 0.55 % Cu and 0.5 gr/t Au); Northern Orion's Agua
Rica (731 Mt@ 0.62 % Cu, 0.037% Mo and 0.23 grt Au, Northern Orion), YMAD's Farallon Negro (500,000 Oz @ 8 grt au) and
Barrick's Famatina District (porphyries and High sulfidation system, undeveloped) north of Carolina District.
The La Carolina Project hosts low sulphidation epithermal gold mineralization associated to diatremes and dome complex,
similar to that at Montana Tunnel (Montana) and Baguio (Phillipines). The Property contains disseminated gold mineralization
associated with pyrite-silica alteration in the diatreme breccias related to Tertiary porphyritic dacite and trachyte domes
as well as vein-style gold mineralization hosted by the Paleozoic country rocks. Gold porphyry mineralization is also
reported from the Diente Verde prospect some 15 kilometres to the southeast.
Historically the district has seen small but significant mineral production. Alluvial gold has been produced from placers
and is still in production today, and minor hard rock production has been won from narrow Au-Ag-Pb-Zn vein deposits such as
Esperanza and La Estancia which lies in the Property. Modern mineral exploration started in 1986 by Direccíon de
Fabricaciones Militares (DGFM) which identified gold-bearing breccias in Cerro el Porongo and La Estancia. An early drilling
program of 1300 metres in 13 DD holes identified gold anomalies but the results were never recovered. In 1987-88 DGFM made a
JV with Anglo Gold and completed 6804 m in 52 holes. Some interesting results are:
DDH-38: 18 m @ 2.44 grt Au
including 9m @ 4.06 grt Au
DDH-36: 6 m @ 1.34 grt Au
DDH-45: 10.5 m @ 2.4 grt Au
DDH-33: 19.5 mts @ 2.17 grt Au
DDH-21.5/68.5: 138 mts @ 2.72 grt Au
DDH-49: 1.5 mts @ 59.2 grt Au
Anglo left the property in 1990 after the discovery of Vanguardia, a project they developed and converted into a mine (3 M
Oz).
Subsequently, Cameco (1991) drilled 3 shallow holes in La Estancia Area and the best hole run 8 m @ 1.16 grt Au. The
property remain tied in a "Provincial Mineral Reserve" until 1996 that become open and was staked by Solitario/TNR
who JV the property to Geocom in 2003. Geocom proceeded to drill in 2004 a total of 2500 mts in 15 DD holes and their best
intersections where at Mogote Target (hole M-04 intersected 4m @ 5.96g/t) and in El Camino Target (25 m @ 4.2 gr/t).
The results from this previous work have indicated potential for the discovery of both high grade mineralization (Baguio-
style) in the contact zone of the diatreme breccias and the basement and bulk (Montana Tunnel style), low grade
mineralization related to the core of the diatreme. Latin is currently proceeding with further soil sampling, Gradient Array
IP geophysical survey, Pole-Dipole Array IP survey, Surface Magnetic survey and detailed sampling to define a drill campaign
of no less than 10,000 metres to test mineralization both at the core of the diatreme and in the basement in contact with the
diatreme.
Drilling Intercepts
| TARGET |
HOLE |
DEPTH
(m) |
AZIMUTH |
X |
Y |
|
FROM
(m) |
TO
(m) |
LENGTH
(m) |
Au gpt |
Pb % |
Zn % |
| Estancia |
DDH-LAT01 |
350.45 |
275º |
3494785 |
6371701 |
including |
161
162
244 |
165
163
257 |
4
1
13 |
0.54
1.58 |
|
1.90 |
| DDH-LAT02 |
245.65 |
270º |
3495123 |
6371736 |
|
136 |
137 |
1 |
0.30 |
|
|
| DDH-LAT04 |
240.45 |
270º |
3494834 |
6371242 |
|
173 |
177 |
4 |
0.10 |
|
|
| Mogote |
DDH-LAT06 |
401.30 |
90º |
3494097 |
6371139 |
including |
0
227
227 |
401.3
346
255 |
401.3
119
28 |
|
0.14
0.23 |
0.14
0.35
0.78 |
| DDH-LAT21 |
413.55 |
90º |
3494055 |
6371140 |
including
including |
237
249
325 |
408
319
346 |
171
70
21 |
0.21
0.34 |
0.13 |
0.12
0.30 |
| DDH-LAT07 |
266.55 |
175º |
3494110 |
6371069 |
including |
85
97 |
99
98 |
14
1 |
0.34
2.14 |
0.16 |
0.29 |
| Olguin |
DDH-LAT08 |
218.60 |
270º |
3494437 |
6373129 |
|
140 |
142 |
2 |
0.29 |
|
|
| La Ilusion |
DDH-LAT11 |
200.60 |
270º |
3493811 |
6374549 |
|
170 |
172 |
2 |
|
|
0.11 |
| La Luisa |
DDH-LAT12 |
203.50 |
224º |
3493142 |
6374113 |
including |
155
176
166 |
191
187
167 |
36
11
1 |
0.65 |
0.28
0.60 |
0.69
1.60 |
| DDH-LAT03 |
337.90 |
240º |
3493103 |
6374607 |
including
including
including |
5
260
260
280 |
338
338
261
283 |
333
78
1
3 |
0.24
0.40
3.03
0.92 |
|
|
| DDH-LAT05 |
284.40 |
240º |
3493098 |
6374408 |
|
171 |
173 |
2 |
|
0.30 |
0.18 |
El Corte |
DDH-LAT09 |
269.50 |
200º |
3492627 |
6373876 |
including |
46
60 |
72
62 |
8
2 |
0.40
1.47 |
|
|
| DDH-LAT14 |
356.60 |
90º |
3492494 |
6373727 |
|
293.2 |
295.2 |
2 |
|
|
0.06 |
| El Camino |
DDH-LAT10 |
272.50 |
270º |
3493666 |
6372364 |
|
|
|
|
|
|
|
| Pajaros |
DDH-LAT13 |
235.50 |
270º |
3492728 |
6372583 |
|
|
|
|
|
|
|
| La Virgen |
DDH-LAT15 |
191.70 |
270º |
3492350 |
6372098 |
|
|
|
|
|
|
|
Latin American Minerals Inc. has an option to acquire a 75% undivided interest in the La Carolina property.
