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Latin American Minerals completed construction of three heap leach pads at Paso Yobai gold project i
2015-1-28
Gold mining
Latin American Minerals Inc. (TSX VENTURE:LAT) (the "Company") announces construction of three heap leach pads and related infrastructure, now in operation at its wholly owned and fully permitted Independencia Mine, part of the Company's Paso Yobai gold property located in Paraguay. A fourth leach pad is under construction.
The Company further announces that it has re-paid the CAD$120,000 short-term loan (September 29, 2014 press release) along with $2,400 of interest, which was secured to partially offset start-up operating costs for the heap leach program.
The Company was pleased to obtain the support of a local Paraguayan bank which provided a USD$700,000 loan in June 2014 to partially fund the construction of the heap leach initiative. The Company is in full compliance with all loan covenants.
During the second half of 2014, the Company designed and constructed:
an on-site plant to agglomerate gold-bearing saprolite rock with cement in preparation for heap leach processing,
three 8,000 metric ton capacity reusable leach pads where gold is leached from the prepared mineralization and captured in columns of activated carbon (see Images I and II below), and
an on-site desorption plant to recover gold from the carbon columns, prior to final on-site smelting.
About the Company
Latin American Minerals Inc. is a mineral exploration company with its flagship Paso Yobai property located in eastern Paraguay, an emerging gold region. Paso Yobai hosts a large epithermal gold footprint focused on two parallel gold trends, namely the 10 km Discovery Trend and 14.8 km X-Mile Trend.
The Company holds a 100% interest in an on-site concentrator plant at the fully permitted Independencia Mine at Paso Yobai. In operation since 2012, the plant continues to provide operating cash flow and vital information on the grade, mineralogy and metallurgical characteristics of the Paso Yobai mineralization through self-funded operation. The Company is currently expanding the pilot facility to include heap-leach gold extraction.
