Latin Resources defines copper-gold system at Ilo Este

THE DRILL SERGEANT: Latin Resources (ASX: LRS) has received results from a series of exploration activities recently undertaken at the company’s 100 per cent-owned Ilo Este project in Peru.

 

Location of Ilo Este project and 10 other target areas within
Latin’s over 100,000 hectare concession holding in the Southern Peru
copper district. Source: Company announcement

 

The actives included surface (soil and rock chip) geochemistry, a ground magnetic survey and specialised geological and alteration mapping, the combined efforts of which the company considers to have defined a major copper-gold porphyry system and a number of associated drill targets.

Eighty-one rock chip samples returned assay results ranging from 0.002 per cent to 0.37 per cent copper (average 0.15 per cent copper, exclusive of three high-grade results of 0.82 per cent, 1.1 per cent and 8.4 per cent copper).

Sixty-seven soil samples returned assay results ranging from 0.001 per cent to 0.31 per cent copper (average 0.039 per cent copper).

Latin explained anomalous samples have been found over approximately three square kilometres, which has roughly defined the extent of the Porphyry system as mapped.

Both the mapped extent and anomalous soils are open with coincident anomalies of gold and molybdenum are associated with the copper.

Geological and alteration mapping has confirmed an exposed copper-gold porphyry system, which appears to extend to the east, and may also be displaced into the hanging wall of a major low angle fault.

The company completed a ground magnetic survey over the exposed part of the porphyry system and part of the covered area to the east, from which the most notable result from this survey was the identification of a magnetic anomaly, 800m by 300m, within the Northern belt, and modelled to commence from 100 m below surface.

“We are extremely pleased…with these excellent results at Ilo Este and we are confident this project will add significant value to the Company going forward,” Latin Resources managing director Chris Gale said in the company’s announcement to the Australian Securities Exchange.

“By applying systematic exploration methodology, we have not only defined a significant exposed copper-gold porphyry system that extends well beyond historical drill testing, but we have also identified significant upside potential under cover to the east.”

“Now that Ilo Norte is being drilled by our JV partners, Latin’s priority at Ilo Este is to focus on unlocking more value at by drilling the project as soon as possible.”

Email: info@latinresources.com.au

Website: www.latinresources.com.au