Plata Latina (PLA-V)
www.plminerals.com
47.9 million o/s
$1.9 million cash (as of Sept 30, 2012)
Key people
Michael Clarke – President, CEO and Director
Mr. Clarke has over 35 years of international silver and gold exploration experience. His achievements include numerous silver deposit discoveries in Mexico, including the San Antonio mine and the Santa Rita project. Most recently, he held the role of Vice President of Exploration for Augusta Resource Corporation, and previous to that held senior positions at Cyprus Minerals and Ma'aden. He has a PhD from the University of Arizona with a dissertation on major Mexican silver-gold deposit formation.
Gil Clausen - Chairman
Mr. Clausen is currently the President and Chief Executive Officer and Director of Augusta Resource Corporation. Mr. Clausen has over 30 years of executive and operations experience in the mining industry with several major global and domestic mining companies. He has held senior operations and project development positions before moving into executive roles where he was responsible for executing corporate growth strategies including development and operations for several large precious metal, base metal, and coal producing companies. Mr. Clausen is also the Vice-Chairman of Wildcat Silver Corp. and a Director of Jaguar Mining Inc. He holds a Bachelors and Masters degree in Mining Engineering from Queens University.
Richard W. Warke – Director
Mr. Warke is also the founder of Augusta Resource Corporation (Executive Chairman), Wildcat Silver Corporation (Chairman and CEO) and Riva Gold Corporation (Chairman and CEO). He was also the founder and Chairman of Ventana Gold Corp. which was acquired in early 2011 for $1.5 billion. Mr. Warke has more than 25 years of experience in corporate finance and marketing in the global resource industry, and has been involved in raising over $1 billion dollars in equity for resource companies. Although his endeavours have primarily involved mineral resource operations, he has also been involved with oil and gas, forestry, technology and manufacturing operations.
Naranjillo
Plata Latina's principal 100% owned property, Naranjillo, is located in the central part of the Mexican Silver Belt in the state of Guanajuato approximately 32 kilometres north-northwest of the city of Celaya and consists of 31,701 hectares. The property is situated near the Guanajuato silver and gold district, which has produced an estimated 1 billion ounces of silver, and the Pachuca-Real del Monte district, which has estimated historical production of over 2 billion ounces of silver.
Drilling at Naranjillo demonstrates the potential of a high-grade multiple-vein system similar to the surrounding epithermal silver-gold districts in the region. Initial drilling discovered a blind epithermal vein system with values up to 17,833 g/t silver and 71.81 g/t gold over 1.60 metres within the Company’s discovery hole, BDD-N-10, which averages 3,181 g/t silver and 13.28 g/t gold over 10.95 metres on the Villa vein. Additional drilling has identified a split in the main Villa vein, where the vein diverges into a hanging wall and foot wall vein where the highest grades occur at and near the structural intersection. Significant results include the discovery hole as well as 4,091 g/t silver and 14.24 g/t gold over 5.95 metres.
Drill results together with geological mapping indicate that the Villa vein system may intersect a major structure to the south-west of the present drilling and provide a prime exploration target, as structural intersections in vein deposits commonly serve as the focus for silver-gold deposition. The Company’s present drilling program at Naranjillo is intended to trace the Villa vein system to this projected intersection.
The Company now has two diamond core drills working on the Naranjillo property. One of the drills is concentrating on expanding the mineralization at the Villa vein discovery. The second drill is dedicated to exploring for additional high-grade silver occurrences in the district and is presently exploring the San Diego vein, located approximately 2.5 kilometres west of the Villa vein.
Local property geology consists of Tertiary-age and possibly younger rhyolitic to basaltic rocks resting on a basement of early Tertiary and Paleozoic sedimentary rocks. Exposed mineralization consists of chalcedonic to fine-grained quartz veining along northwest structures, accompanied by varying amounts of argillization and pyritization.
Company presentation
plminerals.com
Fact sheet
plminerals.com |
