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Latin Resources To Drill New Copper-Gold Target In Peru

Latin Resources (ASX: LRS) is preparing a new drilling program to test a newly identified induced polarisation anomaly at the Ilo Norte copper-gold project in Peru.

The recently completed survey had identified significant chargeability and resistivity anomalies consistent with Latin's revised geological model and had generated a drill target over 2,000 metres by 800 metres.

This broad zone extends from about 300 metres below surface and remains open to the northeast. It also 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.

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.

"These results have added enormous weight to our conceptual model for copper-gold mineralisation at Ilo Norte," managing director Chris Gale said.

"We now have a fantastic drill target which we will begin testing almost immediately having now received drill permit approval."

The Ilo Norte project comprises concessions covering about 7,300 hectares and is favourably located, being just 20 kilometres from the port of Ilo and 10 kilometres from the Southern Peru Copper Corporation smelter.

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