Monday, 18th February 2008 (1815 views)

Latin American Minerals has announced the assay results from its 2007 diamond drilling programme at the Paso Yobai gold property in Paraguay.

The company said the programme, which comprised 12 holes totalling 1,989.2 metres, confirmed the presence of a 1.3-kilometre gold-bearing structure and intersected a gold zone along strike for 700 metres.

Results from the holes included gold graded at 43.08 g/t over a four-metre width, 18.51 g/t over four metres and 12.52 over six metres.

Latin American Minerals' president and chief executive David Wahl said the Paso Yobai programme had been a "complete success" and provided a foundation for a "significant" phase two drilling schedule.

"We are excited about our exploration plan for this major new gold discovery," he commented.

Paso Yobai is located in south-east Paraguay around 150 kilometres from the capital Asuncion, near the border with Brazil.

In addition to this project, Latin American Minerals is also developing mines at Rio Tendal and La Carolina in Argentina, as well as at Esmeralda in Columbia.

 

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