Latin Resources Limited is an Australian-based minerals exploration company focused on creating shareholder wealth through identification and definition of mineral resources in Latin America. The company has a portfolio of copper projects in Peru.
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Latin Resources is advancing the potentially world class Guadalupito Iron and Heavy Minerals project in Peru. The recent 371% Resource upgrade to 1.456Bt @ 5.7% HM highlights the true potential of the project area; however this is just the beginning. The company is targeting a ~4Bt Resource with regional drilling confirming significant strike extensions to known mineralisation.
Latin Resources (ASX: LRS) is a diversified exploration company with a portfolio of seven projects located in Peru. The three most advanced projects are the flagship Guadalupito Iron Mineral Sands project, the early stage Ilo Norte project (base/precious metal exploration) and the Mariela project (iron, copper, gold) where Latin has a 30% free carry.
Latin recently released a maiden JORC resource of 1.073Bt @ 6.1% HM at Los Conchales, exceeding the company’s original exploration target by more than 50%. The Resource is made up of magnetite iron sands (22-25%), as well as andalusite (21-24%), titanium minerals (6.4%) and smaller concentrations of other valuable recoverable minerals. The total JORC resource, including the nearby ‘Heldmaier’ and ‘Tres Chosas’ deposits is now 1.465Bt @ 5.7% HM and more than sufficient to begin feasibility work. The Resource provides enough material for ~140 years life of mine at an envisaged 10mtpa processing rate (processing likely to increase over time) however; further Resource potential exists for at least 7km along strike from Los Conchales.
At the Ilo Norte project, located in southern Peru in a belt of major IOCG deposits, the company has encountered copper-gold bearing magnetite skarn mineralisation during initial drilling. Follow up IP surveys have generated down-dip targets that will be tested by further drilling.
At the Mariela JV project, Latin Resources holds a 30% free carry through to completion of a BFS. Exploration is at a relatively early stage however, permitting has been submitted for...
Official website: http://latinresources.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/LRS