Latin Metals enlarges Para Copper Project, Peru

Latin Metals Inc. [TSXV: LMS; OTCQB: LMSQF] reported that its 100%-owned subsidiary Zafiro Mining S.A.C. has acquired additional mineral rights contiguous to the Para copper project in southern Peru. This acquisition expands the project to the south and secures coverage over key drill targets.

Key Takeaways – New Land Secured: Strategic acquisition of 300 hectares completes consolidation of the Para Project. Drill Targets Defined: Multiple walk-up porphyry copper targets were identified.

Next Step Permitting: Drill permit process will start; Latin Metals is seeking an option partner to fund and operate. Tier-1 Location: Para is situated in Peru’s Coastal Copper Belt with access to infrastructure and port facilities.

Low-Cost Acquisition: New claim acquired for US$20,000 with no royalty obligations.

Exploration data collected by Latin Metals, combined with historic data purchased from Vale Exploration Peru S.A.C., a wholly owned subsidiary of Vale Canada Limited, has been instrumental in defining multiple high-priority drill targets across the Para Project. Vale previously completed target definition and secured drill permits but never conducted drilling.

“Our exploration team initially identified the Para project in 2023 through analysis of regional geochemical data,” stated Keith Henderson, President and CEO. “The integration of Vale’s comprehensive exploration data has allowed us to define clear porphyry-style drill targets. This new acquisition finalizes the consolidation of a high-quality, 100%-owned land position. We plan to initiate drill permitting shortly and are actively seeking a partner to fund and advance the project.”

The newly acquired 300-hectare claim lies directly south of the current Para property. It was purchased for US$20,000 in cash and is held 100% by Latin Metals, with no underlying royalties.

The Para Copper Project was previously explored by Vale Exploration Peru S.A.C. between 2013 and 2017. During this time, Vale conducted extensive groundwork, including geological mapping, collection of 282 geochemical rock samples, and completion of 18 line-kilometers of Induced Polarization (IP) geophysics, along with 44 line-kilometers of ground magnetic and radiometric surveys.

Vale identified four priority drill targets totaling approximately 2,500 metres and secured a drill permit for the proposed program; however, no drilling was completed. Latin Metals acquired the project in 2023 and has since validated and expanded on Vale’s work through its own systematic geochemical sampling and interpretation, confirming the presence of multiple porphyry-style targets.

The Para Copper Project is situated within Peru’s Coastal Copper Belt. This belt hosts several major deposits, and is known for its favorable geology, including porphyry copper systems. The region also offers exceptional infrastructure with highway access, nearby power lines, and proximity to Pacific ports – making it highly attractive for exploration and potential mine development. Para now spans 2,200 hectares and is 100%-owned by Latin Metals.

Latin Metals is operating in Peru and Argentina under a prospect generator model, minimizing risk and dilution while maximizing discovery potential. With 18 projects, the company secures option agreements with major mining companies to fund exploration. This approach provides early-stage exposure to high-value mineral assets.

Under the terms of a data purchase agreement, Vale delivered a comprehensive package of exploration data covering Latin Metals’ 100%-owned Para copper project and extending to the surrounding area. As consideration for the exploration data, the company granted a time-limited Right of First Offer to Vale, which will become valid on completion of a prefeasibility study and expire in 2035.