Latin Resources Limited has received results of an Induced Polarization (IP) survey undertaken at the Ilo Norte Project by the Company’s Peruvian geophysical contractor, Val D’or Geofisica (VDG del Peru S.A.C.), during December 2012 and January 2013. The survey consisted of three (3) parallel survey lines spaced every 400 meters, for a total of 11.9 line-km. VDG’s 3D inversion block model interpreted a deep chargeability anomaly along each of the three survey lines. The chargeability anomaly amplitude is 15 mV/V over a background of 3-5 mV/V.

Anomalous chargeability values form a broad zone that extends from approximately 300 m below surface over approximately 2000 m width, extending from the cliff line in the west to at least 800 metres north east. The anomaly remains open to the NE and continues to deepen consistent with the dip of the stratigraphy. The anomalous geophysical responses appear to coincide with the quaternary covered, down dip extension of a strata-bound Skarn unit that outcrops down the slope to the west of the survey area
and an overlying zone of intense Silica-Albite alteration, both very favourable indications of potential copper-gold mineralisation (Figure 5). Petrographic study of a sample from the oxidized skarn at surface showed evidence of the copper bearing sulphide, chalcopyrite. In addition, copper oxides are in places encountered on joints and fractures in the outcrop, although intensive leaching of copper has clearly occurred in the surface environment.

Latin is very pleased to have received such positive results from the IP survey at Ilo Norte, especially considering that these are consistent with the newly developed geological model for copper-gold mineralisation at the Project. Managing Director, Mr Chris Gale, commented, “These results have added enormous weight to our conceptual model for copper-gold mineralisation at Ilo Norte. We now have a fantastic drill target which we will begin testing almost immediately having now received drill permit approval.” He went on to say, “Ilo Norte is also very favourably located less than 20 km from the port of Ilo, 10 km from the Southern Peru Copper Corporation smelter and very close to other important infrastructure”.