Menu

Australian Shares is the world's biggest free online database of information on Australian resource companies.

Time to Update your company profile
Australian Shares

LATIN RESOURCES LTD

ASX: LRS

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Latin Resources Limited is a mineral exploration company focused on creating shareholder wealth through the identification and definition of mineral resources in Latin America, with a specific focus on Peru.

Guadalupito Iron and Heavy Mineral Sands Project

Initial results from a mineralogical and geochemical studies of two phases of sampling including four “mini-bulk” samples, indicate that:

* Magnetite with a low Titanium content has been confirmed as the dominant magnetic mineral.
* The Iron (Fe) and Titanium (TiO2) content of two magnetic concentrates were 64% and 5% respectively and are comparable with those of iron concentrates reportedly produced from an operating iron sands mine in New Zealand.
* Gold grades of potential economic significance have been encountered.
* The majority of Gold was encountered in the - 150µm fraction.
* The 150µm fraction contained an average of 12% of the total mass of the four samples but contained 69% of the total contained Gold suggesting that simple screening will aid the recovery of gold significantly.
* The very fine (- 53µm) fraction of the samples contained negligible material indicating that slimes will not be a problem during the treatment process.
* Discrete mineral grains of recoverable size of Gold, Monazite, Zircon, Ilmenite and Wolframite have been identified.
* Significant quantities of the Rare Earth Elements Lanthanum, Cerium, Neodymium as well as Thorium were identified in Monazite.
* Andalusite mineral grains were identified as containing a low Iron content.

Latin Ilo Iron Ore Projects

* Latin Resources has applied for and now has 100% ownership rights over these concessions, which pre date the Teck Ilo Iron Ore Projects outlined below.
* Multiple iron ore projects located in the Ilo region of the Moquequa and Tacna Department comprising 25,200 hectares of granted and 6,500 hectares pending exploration concessions.
* The projects are all within 10 kilometres of the coast and 30 km of the port of Ilo.
* Magnetic and gravity delineated drill targets.
* Drill permitting has already commenced.

Teck Ilo Iron Ore Projects

* Latin Resources has applied for 100% ownership rights over these concessions, which are subject to the Teck Agreement (including royalty and earn in rights to Teck in the event of the discovery of an economic mineral resource).
* Multiple iron ore projects located in the Ilo region of the Moquequa and Tacna Department comprising 32,200 hectares of granted and pending exploration concessions.
* Projects and concession areas identified using airborne geophysical data provided under the Teck Agreement.
* The projects are all within 30 kilometres of the coast.

Coastal Iron Exploration

There are 700 kilometers of the Southern Peruvian coast with favorable geology for iron, iron deposits and iron occurrences. The largest iron deposits in Peru, Marcona and Pampa de Pongo, are located in this belt 400 kilometers south of Lima. Marcona is owned and operated by Shougang Hierro Peru (Shougang is the fourth largest steel producer in China) and expects to increase production from 5.5 million tonnes of iron ore in 2009 to 10.0 million tonnes in 2010, after a 1.0 billion US dollar investment in project upgrades announced last year. Pampa de Pongo, recently purchased by Nanjinzhao Group of China for US $100 million dollars from Cardero Resource Corporation of Canada, is being advanced to production.

Both Marcona and Pampa de Pongo are 'IOCG' (Iron Oxide Copper Gold) type deposits, which have skarn deposit-type affinities and normally have at least anomalous to ore-grade copper and/or gold values. There are also important copper-rich deposits and many small gold veins and occurrences in this belt. While the belt has been explored for copper dominant IOCG deposits by most of the large copper companies working in Peru, only recently has the belt attracted attention for iron and iron exploration, in spite of the significant size of the two known deposits.

Mariela Iron Ore Project

* Ground magnetic survey delineates a high intensity (3000nT) anomaly with the modelled source under 30-100 m of cover and measuring 3000 m long, 1000 m wide and up to 200 m thick.
* 30% magnetite equivalent cutoff (1SI unit) used in “straight forward model” completed to match measured total magnetic field.
* Bi-polar anomaly characteristic of low magnetic latitudes.
* Gravity survey will commence immediately to allow for improved drill targeting.
* Environmental permit for drilling in preparation, approval expected April 2011.
* RC Rig booked to commence drilling from mid April.
* Located directly on major road transport route and only 60 km from major mining port.

Other Projects - Iron Ore - Toray, Coribeni, Pampa de Pongo, Ferro Tacna

The Company holds 100% of rights to 8,500 hectares of concessions in the Ferrobamba Iron Province which hosts known significant iron resources. The Toray Project is located in the Apurimac Department and is 4,500 hectares in area and the Coribeni Project is located in the Cusco Department and is 4,000 hectares in area. Both of these projects were staked on colour anomalies seen from the air on open ground. A brief visit was made to Toray and several small magnetite veins and structures were noted. More work is needed to determine the true potential of the properties, but the preliminary work nevertheless indicates strong iron mineralization is present.

The Company has also staked additional concessions in the Coastal Sur Iron Province in close proximity to the large Marcona and Pampa de Pongo resources. Latin Pampa de Pongo is located in the Ica Department and is 900 hectares in area and is 5.0 kilometres from the Pampa de Pongo deposit. This concession was staked on an airborne magnetic Image map acquired by the Company that shows an anomaly similar to the original airborne anomaly that led to the discovery of the Pampa de Pongo deposit. The surface of the claim is completely covered by sand and a ground magnetic survey is currently underway over this block.

A further 3,900 hectares of concessions have been staked in the Tacna Department based upon magnetic survey results.

Mine For

iron, titaniium, gold, monazite, zircon, ilmenite, wolframite, rare earths, lanthanum, cerium, neodymium, thorium, copper

Location of operation(s)

Peru

Address

Suite 2, Level 1, 254 Rokeby Road
Subiaco, WA, Australia

Phone

(61 8) 9485 0601

Email

Website


Last Updated

27/10/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

Spacious and Lovely Gold Coast Holiday House