Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Latin Resources raises Guadalupito exploration target to 4.5Bt heavy minerals  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 21/11/2012

No. of Ratings : 0
Add to Mixx!


(MENAFN - ProactiveInvestors - Australia) Latin Resources (ASX: LRS) has revised the exploration target for the Guadalupito Project in northern Peru to 4.5 billion tonnes at 6.1% heavy minerals, demonstrating the size potential of the project.

Significantly, this excludes the Heldmaier and Tres Chosas JORC Inferred resource totalling 393 million tonnes at 4.5% heavy minerals.

The new target is based on a new geological interpretation taking into account new regional drilling and sampling results and other exploration data compiled across the project area to date.

Chris Gale, managing director, commented: "With these results the Guadalupito project has demonstrated its truly world class potential.

"We are continually impressed by Guadalupito as its potential has grown beyond our early expectations. Latin's first conceptual exploration target of 1 billion tonnes was released in March 2011 and was quickly doubled by May 2011 based on evidence from Latin's first drill holes.

"Then in July 2012, Snowden supported Latin's conceptual target by extrapolating our first JORC Inferred resource as far as the overall system's geological limits were then understood.

"Now with these results from our recent exploration drilling, our geologists have been able to reinterpret the extents of the system, claim additional mineral rights, and finally increase our conceptual exploration target a further two thirds beyond that estimated by Snowden."

Additional drilling results

Latin has also received high grade results from a further 23 drill holes that have been completed at the Los Conchales Deposit.

These new results will form part of a new JORC Inferred resource estimate for Los Conchales, to be prepared by Snowden Mining Consultants, which is expected to be complete in the March quarter of 2013.

Latin previously reported an exploration target of 690 million tonnes at 6.8% heavy minerals for the Los Conchales deposit which is included in the global exploration target.

Results from the 23 new drill holes in the Los Conchales area all contained significant intersections of heavy minerals from surface to between 27 and 62 metres depth.

All holes ended in mineralisation greater than the nominal cut-off grade of 1% heavy minerals, with grades generally higher to the east of the deposit " including an average of 14.1% heavy minerals in the sand fraction.

These new results support the new exploration target.

Gale said: "As our geologists had expected, all the infill holes at Los Conchales have returned intersections of continuous high grade HM from surface to significant depth.

"Using these results we look forward to publishing our next JORC compliant Inferred resource in Q1 2013 for Los Conchales which we expect will increase the company's Inferred resource base at Guadalupito considerably."

Regional drilling

Results from six regional drill holes have been received, four drilled over 7 kilometres along strike to the north of the Los Conchales deposit, and two drilled in the younger coastal sediments at Blackburn Central where high grade heavy minerals was found in pit samples to 1 metre depth.

The two drill holes at Blackburn Central encountered a very similar sedimentary sequence to that found at the Heldmaier and Tres Chosas resource areas, with fine silts and clay encountered below 15 metres depth.

Heavy mineral content is moderate to 15 metres and potentially significant gold content was measured in both sand and undersize fractions to this depth.

The four holes drilled in the eastern, older sequence of sediment over 7 kilometres along strike to the north of Los Conchales all encountered a sedimentary sequence very similar to that found at Los Conchales with comparable grades.

Three shafts excavated to 4 metres depth, further east from the four drill holes, returned similar characteristics and grades to the equivalent unit mapped in the eastern part of Los Conchales, further supporting continuity.

Goals for 2013

Heading into the new year, Latin plans to not only expand the Inferred JORC resource at Guadalupito, but also begin mine planning.

Latin is aggressively working to define over 1 billion tonnes of resources at Guadalupito by the March quarter of 2013.

The company expects to begin a Pre-Feasibility Study, which will include an upgraded resource, in the March quarter of 2013.

The mining scenario developed by Ausenco's Minerals and Metals division uses Snowden's Proof of Concept mining study announced on 17 July 2012 that was based on a conceptual model of up to 2.7 billion tonnes run of mine.


  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014King bids to reassure Saudis as MERS deaths hit 85 ,AFP
(MENAFN - AFP) King Abdullah was in the Saudi commercial hub of Jeddah on Thursday in a bid to reassure a worried public as the death toll from the MERS virus hit 85. The Red Sea city has seen a ...

Apr 24 2014QBA strengthens economic ties with Kenya ,MENAFN
(MENAFN) Members of the elite Qatar Businessmen's Association (QBA) stated their willingness to cooperate with their Kenyan peers, strengthening economic ties between Qatar and Kenya, The Peninsula ...

Apr 24 2014US Secretary of State Meets Egyptian Intelligence Chief ,Qatar News Agency
(MENAFN - Qatar News Agency) shington April 24 - US Secretary of State John Kerry has met with the Egyptian Intelligence Chief Major General Mohammed Ahmed Fareed al-Tohami who is currently ...

Apr 24 2014Egypt's Interim President Receives Phone Call from South African President ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egypt's Interim President Adly Mansour has received a telephone call from President of the Republic of South Africa Jacob Zuma in which they discussed ...

Apr 24 2014Russian Lebanese Foreign Ministers to Discuss Situation ,Qatar News Agency
(MENAFN - Qatar News Agency) scow April 24 - Russian Foreign Minister Sergei Lavrov and his Lebanese counterpart Gebran Bassil will discuss bilateral relations at a meeting in Moscow on Thursday as ...

Apr 24 2014Kuwait inflation edges up 2.96% y/y in March ,Arab Times
(MENAFN - Arab Times) Wait city april 23 (kuna): kuwait's annual record of the general index of consumer prices (inflation) rose in march by 2.96 percent compared with the same month of last year ...

Apr 24 2014Sharjah Ladies Club organizes "Sharjah Ladies run" at the University City ,MENAFN Press
(MENAFN Press) Sharjah Ladies Club gears up to launch "Sharjah Ladies run" at the Sharjah University City. With over 250 participants, the activity aims to encourage women and enable them to ...


Click to Apply



Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help