Latin Resources identifies ten new Peru targets

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THE DRILL SERGEANT: Latin Resources (ASX: LRS) has reported the identification of ten new IOCG/Porphyry copper target areas in the company’s 100 per cent-owned concession holdings in the coastal IOCG/Porphyry copper belt of Southern Peru.

Latin has reported two previously-identified targets within this part of the belt that have been partly drill tested to date.

These are the Mariela iron/copper project and Ilo Norte, where drilling by Latin in 2011 uncovered the edge of an IOCG/Skarn replacement system.

Latin followed up that drilling with additional geochemistry and geophysics, which identified a new target that is now fully permitted and ready to drill.

 

Ten new target areas identified in Latin’s 100 per cent-owned
concessions in Peru’s Southern Cordillera and the Ilo Norte project.
Source: Company announcement

 

The company said the ongoing exploration being carried out at both Mariela and Ilo Norte has provided its geologists with deeper knowledge of the mineralisation in the region, which they have applied to identify new exploratory targets.

A revision carried out over the last 12 months of the geological, geochemical, geophysical and spectral data available to the company, has led to the identification of the ten new prospective targets for IOCGs and porphyry copper deposits.

Latin said it is currently in discussions with several potential Joint Venture partners to continue drill testing these targets in the region.

“The generation of ten new targets is testimony to the prospectivity of this important mineral belt and with discussions underway with potential JV partners over these targets, Latin is well placed to proceed quickly towards drill testing and discovery,” Latin Resources managing director Chris Gale said in the company’s announcement to the Australian Securities Exchange.

“The company is looking to capitalise on our commanding mineral rights position in Southern Peru backed up by our established good relationships with local stakeholders thanks to our successful permitting work on our drill ready Ilo Norte IOCG project.”