Latin Resources (ASX: LRS) is continuing to grow the potential of the Guadalupito Iron Sands Project in Peru, with the discovery of high grade heavy mineral content from surface.
A high grade surface zone stretching over 4 kilometres long and between 300 metres and 500 metres wide has been identified at Guadalupito.
Recent drilling returned a highlight intersection of 39 metres at 7.4% heavy minerals from surface, including 15 metres at 9.8% heavy minerals.
Chris Gale, managing director of Latin Resources, commented: “The Guadalupito Project continues to exceed our expectations with its increasing size potential, and in this case we are extremely encouraged by significant intersections of continuous high grade HM at depths of up to almost 40 m from surface”.
Follow up drilling is planned at the high grade heavy mineral zone Los Conchales as soon as drilling at the southern Tres Chosas area has been completed.
Latin is also planning to undertake further Resource estimation work at Tres Chosas.
The drilling program at Guadalupito was designed to test the continuity of mineralisation, and found that repeat sequences of conglomerate and sand bearing high grade heavy minerals are present at depth and to the east.
This is believed to indicate the presence of a thicker, higher grade heavy minerals bearing sediment package associated with the older deposits.
Guadalupito Resource
Latin Resources’ flagship Guadalupito Project has a maiden JORC Resource of 119 million tonnes at 5.7% Heavy Minerals, released in December 2011.
The company is focused on upgrading this resource.
Latin Resources will be presenting at the upcoming One2One Forum in Sydney on 6 June.
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