Latin Resources’ results add lustre to 2Bt target at Guadalupito mineral iron sands project in Peru

Latin Resources (LRS: ASX) has the results from 366 exploration samples along a massive 17 kilometre strike length, collected from 1 metre pits at Guadalupito Iron and Heavy Mineral Sand Project - and they did not disappoint.

The results of the average uncut heavy mineral content was 10.4% and have lifted the average heavy mineral content to 17.4%.

The mineralised sediment package is up to 3 kilometres wide and is open to the north and south. One metre deep pit sampling has now been completed at 1 kilometre x 100 metre spacing along 25 kilometres of strike, and up to 3 kilometres across strike, with a focus on prospective sediment packages.

Previously reported heavy mineral assemblage based on 6 samples of “Sand” (-1mm+52µm) fraction from one sediment package 5.5 km long, was consistent and dominated by magnetite (average 41%) with low iron andalusite (average 13%), ferro-titanium oxides including ilmenite (average 11%), zircon (average 0.9%), ilmenorutile (average 0.6%), rutile (average 0.5%), titanite (1.8%) and Rare Earth Element (REE) bearing minerals (average 0.14%).

Further testwork along strike and across strike will examine variability in heavy mineral assemblage.

In May, Latin announced a conceptual exploration target of 2 billion tonnes of mineralised sediment at Guadalupito (within a range 2.0-2.6 billion tonnes).

The latest results would support the previously announced conceptual exploration target of two billion tonnes of mineralised sediment.

The previously reported heavy mineral assemblage of 6 “Sand” (-1mm+52µm) fraction samples analysed by Mineral Liberation Analysis (MLA) are consistent.

The heavy minerals of most economic significance include: magnetite (avg. 41 %), low iron andalusite (avg. 13 %), ilmenite and other ferro-titanium oxides (avg. 11 %), zircon (avg. 0.9 %).

Gold was previously determined with an average 1100mg/m3 in the undersize fraction.

A highly anticipated Inferred JORC Resource, is expected to provide a sense as to just how large this Guadalupito project is shaping up to be.

Right now the new results that show areas of higher grade heavy mineral content provide tantalising promise as to the potential for magnetite with coincident gold and heavy minerals including low iron andalusite, a variety of titanium minerals, zircon and Rare Earth Element (REE) bearing minerals.

In Guadalupito, Latin Resources could be on the cusp of a massive multi commodity project with good potential for low cost mineral processing. Previously reported mineralogical test results show clean grains of liberated minerals which indicate potential for low cost treatment.

Guadalupito is not only a Iron Sands project, but also a world class multi-commodity mineral sands and gold project.

Chris Gale, Latin Resources’ managing director, said with the latest results, “the enormous potential of Guadalupito continues to be reinforced.

"This new data shows areas of higher grade heavy mineral content meaning even greater promise for magnetite with coincident gold and heavy minerals including low iron andalusite, a variety of titanium minerals, zircon and Rare Earth Element (REE) bearing minerals.”

The company is planning further testwork along strike and across strike that will examine variability in heavy mineral assemblage.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19407/latin-resources-results-add-lustre-to-2bt-target-at-guadalupito-mineral-iron-sands-project-in-peru-19407.html