Latin Resources (ASX: LRS, SETSQX: LRS, OTCQX: LNRDY) is preparing a new drilling program at the Ilo Norte copper-gold project in Peru where a recently completed Induced Polarisation survey has produced results consistent with the company’s revised geological model.
This has generated a drill target for copper-gold mineralisation within a body modelled by Val D’or Geofisica SAC that stretches out over 2,000 metres by 800 metres.
Latin has already secured a drilling permit and expects diamond drilling to begin this month.
Notably, the target zone is located directly east of the disseminated copper-gold bearing magnetite-pyrite mineralisation intersected by Latin drilling that was reported in August 2011.
Latin had then encountered iron and copper mineralisation in all eight of its initial exploration holes at Ilo Norte that were drilled along 1.25 kilometres of strike and 400 metres width.
The anomalous geophysical responses from the latest survey coincide with the quaternary covered, down dip extension of a strata-bound Skarn unit and also overlie a zone of intense Silica-Albite alteration.
These are both very favourable indications of potential copper-gold mineralisation.
“These results have added enormous weight to our conceptual model for copper-gold mineralisation at Ilo Norte,” managing director Chris Gale said.
“We now have a fantastic drill target which we will begin testing almost immediately having now received drill permit approval.”
The Ilo Norte project comprises concessions covering about 7,300 hectares and is favourably located, being just 20 kilometres from the port of Ilo and 10 kilometres from the Southern Peru Copper Corporation smelter.
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