Latin Resources Limited  is pleased to announce results of surface soil and chip-channel sampling undertaken at its 100% owned Ilo Norte copper-gold project, Southern Peru. The samples, which were taken in the vicinity of the large 2000m by 800m Induced Polarization (IP) anomaly, enhance the prospectivity of the copper-gold drill target at the project. The Ilo Norte project is an advanced exploration project, prospective for copper-gold mineralisation.

The project hosts a very large alteration system, which is at least 10 kilometres long and several hundred metres thick. This alteration is important for several reasons:
Many mineral deposits are surrounded by a halo of altered rocks that is a much larger exploration target than the deposit alone. Variations in alteration can be used as vectors for the location of a mineral deposit. Large alteration zones can indicate large mineral deposits. Latin Resources drilled Ilo Norte in 2011. Drilling was downslope of the (then undiscovered) alteration package, but nonetheless returned some very good intersections. Best results were 36 metres at 0.29% copper and 0.09g/t gold; and 21 metres at 0.25% copper and 0.09g/t gold. These results prove that the system hosts copper and gold and it would not be unreasonable to expect better results within the heart of the alteration system.

A recently completed geophysical survey defined a large (2000 m by 800 m) Induced Polarization (IP) anomaly. The anomaly is indicative of chargeable material within the alteration system which may indicate the presence of sulphides, which in turn may be associated with copper and gold. Latin managing director Chris Gale said: “The results provide further evidence that the planned drilling campaign at Ilo Norte in April has a good probability of intersecting copper-gold mineralisation.”

“We now have a fantastic set of drill targets and this upcoming drilling campaign will provide us with a clearer picture of the project’s potential. I look forward to updating shareholders as results are released.” He went on to say: “Ilo Norte’s potential is further highlighted by the fact that it is located right in the heart of a major copper producing region, only 100km from the Cuajone, Toquepala and Cerro Verde copper mines.” “Another major advantage is the project’s location to established infrastructure. It is located less than 20km from the port of Ilo and 10km from the Southern Peru Copper Corporation smelter and very close to other important infrastructure.” All permits and authorisations for drilling have now been received and the Company is planning to commence drilling at Ilo Norte in May.