Latin Resources appoints Snowden for JORC Resource estimate at Guadalupito

Latin Resources (ASX: LRS) continues to move the Guadalupito Project in Peru forward, and has now appointed the Snowden Group to conduct a JORC Resource estimate.

The Inferred estimate is forecast to be completed in September 2011, with a Scoping Study due later this year.

Guadalupito is the most advanced of Latin's projects and has the potential to become a world class Iron and Heavy Mineral Sand project, with the company recently announcing a conceptual exploration target of about two billion tonnes.

The project is located in proximity to high quality infrastructure, significantly just 25 kilometres from Chimbote, home to major Port of Chimbote and one of the largest steel smelters in the country owned by the Brazilian Gerdau Group, the largest long steel producer in the Americas.

Importantly for the project returns, capital costs are expected to be low as only very simple beneficiation will be required due to extensive weathering.

Also - magnetite with a low titanium content has been confirmed as the dominant magnetic mineral.

Adding to the potential of the project is the iron and titanium content of two magnetic concentrates were 64% and 5% respectively, with discrete liberated mineral grains of recoverable size of gold, monazite, zircon, ilmenite and wolframite have been identified, with quantities of the rare earth elements lanthanum, cerium and neodymium.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/17534/latin-resources-appoints-snowden-for-jorc-resource-estimate-at-guadalupito-17534.html