Latitude reviews new properties in Nevada and Mexico
Latitude Minerals Corp
LTU
Shares issued 2,901,842
1999-12-02 close $0.3
Friday Dec 3 1999
Mr. John Carden reports
Latitude Minerals is in the process of reviewing data on two new precious metal
properties in Nevada and one in Mexico. The Mexican property is owned by a
private company, True Vista Mines de Mexico, S.A., C.V. The property consists
of approximately 75,000 hectares in Chihuahua, Mexico, containing silver and
gold surface assays. The property borders Minefinder's Dolores gold-silver
property where that company reported it will be drilling to increase its current
resource of 1.91 million ounces of gold and 111.56 million ounces of silver.
One of the Nevada properties is located in Eureka county, containing a
widespread structural zone of jasperoid cutting upper plate rocks. The jasperoid
contains anomalous gold values up to 0.86 grams with an associated trace element
signature. Previous drilling has apparently not tested the lower plate rocks beneath
the favourable structural zone. This is a similar geologic setting to the Jerritt
Canyon District in the Independence Mountains located 100 kilometres to the
north. The second Nevada property is located in Pershing county, where
high-grade mineralization along quartz veins yielded surface samples ranging to
one ounce per ton Au. At least two, and possibly three, high-grade vein zones of
approximately 2.4 kilometres strike length are present. Limited historic production
only reached the water table at less than 60 metres depth, but the property has not
been tested any deeper.
Drilling results from Latitude's 17-hole Pan drilling program has been delayed by
the U.S. Thanksgiving holiday, but are nearly complete. Findings and assay
intervals are expected to be reported early next week.
Latitude Minerals has hired Norm Eyolfson to act in an investor relations capacity.
The company's new toll free number is (800) 265-7646 or (416) 604-4471.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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