Latin Resources moves closer to maiden JORC Resource at Guadalupito in Peru

Latin Resources (ASX: LRS) is taking strides towards completion of its maiden JORC Resource estimate at the Guadalupito Iron, Gold and Heavy Mineral Sands project in Northern Peru.

A total of 68 sonic drill holes and a detailed topographic survey within the “proof of concept” resource area have been completed and consultant Snowden is well advanced in generating the geological model for the JORC Resource estimate.

Despite the challenging sampling environment, the majority of 1270 drill samples have analytical results completed and are being compiled prior to inclusion in resource estimate.

Chris Gale, Latin Resources’ managing director, said he is "very positive about the continuity of mineralisation and the impressive depth extent to 20 metres below surface."

A new technique is being used for sampling the upper conglomerate zone. A total of 42 cased shafts to the depth of the of water table, at an average depth of 2.8 metres, have been bulk sampled.

This new technique has been introduced as drill holes through this zone have apparent loss of sand containing heavy minerals. The company is now awaiting analytical results. Also, Samples from 883 x 1 metre deep pits are pending final analytical results.

The resource estimate is within an area of about 300 hectares out of more than 6000 mapped hectares with outcropping heavy mineral bearing sediments.

The company is continuing its exploration activity within the 160 square kilometres of heavy mineral bearing coastal sediments that Latin controls.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/22565/latin-resources-moves-closer-to-maiden-jorc-resource-at-guadalupito-in-peru-22565.html